May 01, 2018
WELLESLEY, Mass., May 01, 2018 – Growing demand for medicinal products, innovation in drug delivery systems, along with numerous mergers and acquisitions are helping to drive the global pharmaceutical excipients market forward, according to a report by BCC Research.
The industry is expected to reach a compound annual growth rate (CAGR) of 4.9% through 2022, when it could be worth $8.7 billion, according to the report Excipients in Pharmaceuticals: Global Markets to 2022.
Excipients are initially inactive until they are added to an active ingredient, and are capable of producing a finished pharmaceutical product.
Major players in the market include Ashland Global Holdings Inc., BASF, Cargill Inc., The Dow Chemical Co., Meggle Pharma, Merck & Co., Omya and Roquette Freres.
“One of the most important drivers for the excipient industry is the global demand for pharmaceutical products,” the report notes. “Although the blockbuster model of the pharmaceutical industry is almost obsolete, the demand for novel drugs for orphan and new emerging diseases is driving research and development of drugs. Further, with many of the existing drugs that are witnessing patent cliffs and are being replaced by increased availability of generics, the demand for discounted generic versions of the drugs is increasing globally.”
Market Challenged by Supply Chain Disruption, Quality Standards Maintenance
The pharmaceutical industry production process is long and complex, and an efficient supply chain is needed to keep it functioning smoothly. Import restrictions that are currently underway in the United States could disrupt the global supply chain. Meanwhile, quality standards are difficult to meet and required audits pose a significant limitation as manufacturers seek to build synergy between pharmaceutical and excipient manufacturers.
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Excipients in Pharmaceuticals: Global Markets to 2022( PHM010K )
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