Portland, OR, April 17, 2016 --(PR.com
)-- A new report published by Allied Market Research titled, “World Excipients Market—Opportunities and Forecasts, 2014–2020,” projects that the world excipients market would reach $6.4 billion by 2020 at a CAGR of 7.6% during 2015 and 2020. Organic chemicals would continue to be the highest revenue-generating segment during the forecast period. North America and Europe will continue to be the lead revenue generating economies through 2020. These regions collectively accounted for about three-fourth of share in the global excipients market in 2015.
Factors that drive the global excipients market are rising demand for pharmaceutical drugs, increasing popularity of functional excipients, drug pipeline, development of novel excipients, and increasing generic drugs market caused by expiration of various bestseller drugs patents. Factors that are likely to impede the market growth include, supply chain issues, high market fragmentation, and implementation of stringent regulations.
Binders segment generated highest revenue in 2015 and is anticipated to maintain this trend throughout the forecast period. This is attributed to the higher use of binders in pharmaceutical drugs as compared to fillers and diluents. However, fillers and diluents led this segment in terms of volume (units) in 2015 and accounted for about one fourth of the overall market. Economical cost and high popularity of fillers and diluents across pharmaceutical and excipient industries were the key factors responsible for the dominance of filler and diluents segment.
Key findings of the study:
Binders generated the highest revenue accounting for about two-seventh of the overall market revenue in 2015.
In the inorganic chemical category, halites segment is projected to grow at the highest CAGR of 29.2% during the forecast period.
Calcium phosphate (inorganic chemical) segment is projected to reach $539.9 million by 2020 at a CAGR of 10.5%.
In the organic chemicals category, carbohydrates generated the highest revenue and is expected to dominate till 2020.
Disintegrants segment is projected to grow at a highest CAGR of 12.6% from 2015 to 2020.
Proteins segment (Petrochemicals category) generated highest revenue in 2015; however, mineral hydrocarbons segment is expected to grow at the highest CAGR of 7.0% during the period under consideration.
Asia-Pacific is anticipated to be the fastest growing excipients market, for both organic and inorganic chemicals, in terms of volume and revenue during 2015 and 2020.
North America accounted for about one third of the overall market revenue in 2015 owing to the presence of large number of pharmaceutical companies. The excipients market in the developing economies has lucrative growth opportunities due to the availability of inexpensive raw materials and economical workforce. The global excipient manufacturers are relocating to the developing economies by adopting strategies such as, agreement & acquisition with the local players. Moreover, lack of stringent regulations for the production of excipients also supports its growth in the developing economies. The key companies included in the report are Ashland, Inc., BASF SE, Associated British Foods Plc, Akzo Nobel N.V., The Dow Chemical Company, Evonik, Merck, J.M. Huber Corporation, Covidien Plc, and Archer Daniels Midland.