New York, USA, July 07, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global pharmaceutical excipients market is projected to register a significant revenue during the forecast period. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Market
Drivers: Pharmaceutical excipients market is growing because of its advantages. Pharmaceutical excipient is a substance that aids the manufacturing process of medicines, protects, assembles, and preserves the medicines for an extensive period.
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Another factor enhancing the growth of the market is the promotion of its usages by the Federation of International Pharmaceutical Excipients Council (IPEC), a non-benefit pharmaceutical administrative. It is a global organization that creates, executes, and advances worldwide utilization of suitable quality, security, and usefulness gauges for pharmaceutical excipients and excipient conveyance frameworks. These are the major dynamics behind the growth of the market.
Restraint: Accumulating and safeguarding of cutting-edge drugs is an expensive responsibility. This is one of the major restraints behind the growth of the market.
Opportunity: Advancements in the pharmaceutical industry is expected to create more opportunities for the market in upcoming years.
Segments of the Market
The report has divided the market into different segments based on type, functions, applications, and regional analysis.
Type: Organic Excipients Sub-Segment Expected to be the Most Lucrative
Pharmaceutical excipients are categorized mainly into two types: organic chemicals and inorganic chemicals. Organic or natural excipient sub-segment is predicted to garner the highest revenue during the forecast period.
Functions: Fillers & Diluents Sub-Segment Expected to be the Most Profitable
Fillers and diluents sub-segment is expected to generate the highest revenue during the forecast period. The rising demand and production of solid oral drugs is the main factor enhancing the growth of the market segment.
Applications: Oral Formulations Sub-Segment Predicted to be the Most Lucrative
Because of its amazing benefits in medicinal development, oral formulation sub-segment is expected to earn the highest market share during the forecast period.
Regional Analysis: European Market Expected to Garner the Highest Revenue
As per the report, European region is expected to dominate the market. The reason behind this growth is the high level of investment by the governments in the research and development and advancement of social insurance segment in the region.
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Key Players of the Market
The most significant players of the global pharmaceutical excipients market include -
- Ashland Global Holdings, Inc.
- BASF SE
- Evonik Industries AG
- Associated British Food Plc
- Archer Daniels Midland Company
- Lubrizol Corporation
- Croda International
- Capitasol
- Daicel
- Dupont Pharma Solutions
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
One example of recent development
In August 2020, the Lubrizol Corporation, a specialty chemicals provider for the transportation, industrial and consumer markets in the US, acquired Avid Product Development, LLC, a trusted partner for engineering and additive manufacturing services. Avid offers a unique blend of 3D printing capabilities, including design for prototyping, additive manufacturing (DfAM), and production using powder bed fusion (MJF, SLS), stereolithography (SLA), and fused filament fabrication (FFF) with expertise in various post-processing technologies.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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