Analysis of the Global Pharmaceutical Functional and Multifunctional Excipients Market, Forecast to 2023

Analysis of the Global Pharmaceutical Functional and Multifunctional Excipients Market, Forecast to 2023

Innovative Co-processed and Multifunctional Excipients Will Impel the Market Growth

RELEASE DATE
03-Sep-2019
REGION
Global
Research Code: K377-01-00-00-00
SKU: CM01699-GL-MR_23467

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Description

Excipients have been a part of the pharmaceutical industry, and their demand is expected to increase during the forecast period. This is owing to their ability to perform various functions such as improving the API stability, modifying drug release, and taste masking. Expanding patient base, coupled with the need to develop cost-effective drugs, has led to the growth of generics and biosimilar drugs. This simultaneously drives the need for excipients that can be successfully utilized for these drugs. In addition, excipients impart no medicinal properties to the drug; they do have well-defined roles ranging from protecting the API to easing the manufacturing process. However, there are certain factors that impact the market growth. The advent of new drug delivery techniques has also increased the need for new excipients that fits the process. However, stringent regulatory process is one of the roadblocks to the development of the novel excipients in the market. Long development timelines, high investment in R&D, and chances of failure have prevented the manufacturers from developing novel excipients. For instance, antioxidants such as ascorbic acid are used in combination with compounds that are prone to oxidation, hence improving the efficiency of the formulation.

Areas of Growth: Continuous manufacturing technology has gained prominence in the solid drug manufacturing. Although the traditional processes are still incorporated in continuous process line, the requirement of ingredients has differed. Therefore, there is a need for excipients that are well suited for continuous process. Moreover, there is an increasing need for excipient suppliers to develop and expand parenteral grade manufacturing. Although manufacturing drugs of parenteral route requires highest quality standard because it evades the natural barrier routes of the body, the long-term positive impacts of the drugs have created the demand for these drugs. This, in turn, has resulted in increased demand for parenteral excipients.

Regional Analysis: North America dominated the market and is expected to maintain its dominance during the forecast period. Strong economic growth increases the affordability quotient, which results in increased demand of better healthcare services in the region. However, the patent loss of the blockbuster drugs incurs a huge loss to the industry, which in turn impacts the excipients market as well. APAC is expected to witness the highest growth during the analysis period.

Competitive structure: In terms of market participation, Tier I companies including BASF, Ashland, Evonik, and Roquette occupied a share of around 45% to 55%, thus dominating the market. Tier II companies occupied a share of 25% to 35%, followed by Tier III companies with a share of 10%. Moreover, Tier I and Tier II companies have adopted strategies such as partnerships and acquisition to expand their customer base and create a global presence of the companies.

Table of Contents

Executive Summary—Strategic Factsheet

Market Engineering Measurements

CEO’s Perspective

Market Definitions

Key Questions this Study Will Answer

Market Definitions

Market Segmentation (continued)

Market Segmentation (continued)

Market Segmentation (continued)

Geographic Scope

Market Segmentation Description

Market Segmentation Description (continued)

Market Segmentation Description (continued)

Market Segmentation Description (continued)

Market Segmentation Description (continued)

Market Segmentation Description (continued)

Pharmaceutical Functional and Multifunctional Excipients Market—Value Chain

Excipients and Compendia Monograph

Good Manufacturing Practice (GMP) Guide Timeline

Certification Requirement

Market Growth Levers

Market Growth Challenges

Market Engineering Measurements

Pharmaceutical Functional and Multifunctional Excipients Market Revenue Forecast by Chemistry

Revenue Forecast Discussion by Chemistry

Pharmaceutical Functional and Multifunctional Excipients Market Revenue Forecast by Source of Origin

Revenue Forecast Discussion by Source of Origin

Pharmaceutical Functional and Multifunctional Excipients Market Revenue Forecast by Route of Administration

Revenue Forecast Discussion by Route of Administration

Pharmaceutical Functional and Multifunctional Excipients Market Revenue by Region

Revenue Forecast Discussion by Region

Pharmaceutical Functional and Multifunctional Excipients Market—Competitive Landscape

Market Share Analysis

Growth Opportunity 1—Improving Economic Conditions in Emerging Economies

Growth Opportunity 2—Need for Novel Excipients and Manufacturing Trends in Pharmaceutical Sector

Growth Opportunity 3—Excipients Compatible with Tableting Processes

Industry Trend—Strategic Imperatives for Success and Growth

Need for Excipients with Improved Functionality

Need for Excipients with Improved Functionality (continued)

Types of Excipients with Improved Functionality

Novel Excipients

Novel Excipient Barriers

Novel Excipient Development Process

Examples of Novel Excipients

Modified Excipients

Co-processed Excipients

Co-processed Excipients Development

Examples of Co-processed Excipients

Examples of Co-processed Excipients (continued)

Examples of Co-processed Excipients (continued)

Oral Pharmaceutical Functional and Multifunctional Excipients Market—Revenue Forecast by Functionality

Revenue Forecast Discussion by Functionality

Parenteral Pharmaceutical Functional and Multifunctional Excipients Market—Revenue Forecast by Functionality

Revenue Forecast Discussion by Functionality

Topical Pharmaceutical Functional and Multifunctional Excipients Market—Revenue Forecast by Functionality

Revenue Forecast Discussion by Functionality

Inhalation Pharmaceutical Functional and Multifunctional Excipients Market—Revenue Forecast by Functionality

Inhalation Revenue Forecast Discussion by Functionality

Market Engineering Measurements

North America—Revenue Forecast

North America—Revenue Forecast Discussion

North American Market Trends

North America—Revenue Forecast Discussion by Chemistry

North America—Revenue Forecast by Route of Administration

North America—Revenue Forecast Discussion by Source of Origin

North American Market Activities by Top Participants

Market Engineering Measurements

Europe—Revenue Forecast

Europe—Revenue Forecast Discussion

European Market Trends

Europe—Revenue Forecast by Chemistry

Europe—Revenue Forecast by Route of Administration

Europe—Revenue Forecast Discussion by Source of Origin

European Market Activities by Top Participants

Market Engineering Measurements

APAC—Revenue Forecast

APAC—Revenue Forecast Discussion

APAC—Market Trends

APAC—Revenue Forecast by Chemistry

APAC—Revenue Forecast by Route of Administration

APAC—Revenue Forecast Discussion by Source of Origin

APAC Market Activities by Top Participants

Market Engineering Measurements

RoW Revenue Forecast

RoW Revenue Forecast Discussion

RoW Market Trends

RoW Revenue Forecast by Chemistry

RoW Revenue Forecast by Route of Administration

RoW Revenue Forecast Discussion by Source of Origin

RoW Market Activities by Top Participants

The Last Word—3 Big Predictions

Legal Disclaimer

Partial List of Companies in “Others”—Competitive Analysis

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
Excipients have been a part of the pharmaceutical industry, and their demand is expected to increase during the forecast period. This is owing to their ability to perform various functions such as improving the API stability, modifying drug release, and taste masking. Expanding patient base, coupled with the need to develop cost-effective drugs, has led to the growth of generics and biosimilar drugs. This simultaneously drives the need for excipients that can be successfully utilized for these drugs. In addition, excipients impart no medicinal properties to the drug; they do have well-defined roles ranging from protecting the API to easing the manufacturing process. However, there are certain factors that impact the market growth. The advent of new drug delivery techniques has also increased the need for new excipients that fits the process. However, stringent regulatory process is one of the roadblocks to the development of the novel excipients in the market. Long development timelines, high investment in R&D, and chances of failure have prevented the manufacturers from developing novel excipients. For instance, antioxidants such as ascorbic acid are used in combination with compounds that are prone to oxidation, hence improving the efficiency of the formulation. Areas of Growth: Continuous manufacturing technology has gained prominence in the solid drug manufacturing. Although the traditional processes are still incorporated in continuous process line, the requirement of ingredients has differed. Therefore, there is a need for excipients that are well suited for continuous process. Moreover, there is an increasing need for excipient suppliers to develop and expand parenteral grade manufacturing. Although manufacturing drugs of parenteral route requires highest quality standard because it evades the natural barrier routes of the body, the long-term positive impacts of the drugs have created the demand for these drugs. This, in turn, has resulted in increased demand for parenteral excipients. Regional Analysis: North America dominated the market and is expected to maintain its dominance during the forecast period. Strong economic growth increases the affordability quotient, which results in increased demand of better healthcare services in the region. However, the patent loss of the blockbuster drugs incurs a huge loss to the industry, which in turn impacts the excipients market as well. APAC is expected to witness the highest growth during the analysis period. Competitive structure: In terms of market participation, Tier I companies including BASF, Ashland, Evonik, and Roquette occupied a share of around 45% to 55%, thus dominating the market. Tier II companies occupied a share of 25% to 35%, followed by Tier III companies with a share of 10%. Moreover, Tier I and Tier II companies have adopted strategies such as partnerships and acquisition to expand their customer base and create a global presence of the companies.
More Information
No Index No
Podcast No
Author Prateeksha Kaul
Industries Chemicals and Materials
WIP Number K377-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9938-A2,9595