Pharmaceutical excipients are the substances that are added in a pharmaceutical dosage form which does not have their direct therapeutic action, but to aid the manufacturing process, to protect, support or enhance stability, or for bioavailability or patient acceptability. The excipients are inert and simple to active and complex substances that can be difficult to characterize. They act as the carrier (vehicle or basis) or as a component of the carrier of the active substances. It plays vital role in drug delivery within the body. It assist in product identification, and enhance any attribute of the overall safety.

MARKET DYNAMICS- PHARMACEUTICAL EXCIPIENTS MARKET

The bone growth stimulator market has been seeing tremendous growth from the past few decades. The primary growth factors behind the market growth are growth of the pharmaceuticals market backed by functional excipients and surge in the generics market. Besides this, increasing uptake of biopharmaceuticals will boosts the growth of market in upcoming years. Nevertheless, cost and time-intensive drug development process and increasing regulatory stringency are the major restraining factor that could hamper the growth of the market.

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COVID 19 IMPACT ON PHARMACEUTICAL EXCIPIENTS MARKET REPORT

The COVID 19 outbreak causes ill impact on many industries and also had significant impact on the healthcare market. As the rise in COVID 19 cases, for prevention purpose government has announced lockdown in many countries which lead to disturbance in manufacturing and supply of raw materials in various countries. But for COVID 19 treatment demand for drugs such as Remdesivir and hydroxychloroquine has increased which will boosts market growth. During this pandemic process of drug development and manufacturing of raw materials has increased. Hence, COVID 19 negligible impacted the growth of the overall market in 2020.

PHARMACEUTICAL EXCIPIENTS MARKET SEGMENTAL OVERVIEW

The study analyses Pharmaceutical Excipients Market based on product, functionality, formulations and geography.

PHARMACEUTICAL EXCIPIENTS MARKET BY PRODUCT

Based on the various products the pharmaceutical excipients market is segmented into organic and inorganic chemicals. Organic chemicals are further categorized into carbohydrates and petrochemicals. Inorganic chemicals are sub-segmented into Calcium Phosphates, Calcium Carbonate, Calcium Sulfate, Halites and Metallic Oxides. The organic chemicals segment is expected to account for the largest share of the market in 2020 owing to, increase in demand for organic chemicals as excipients in many formulations. These excipients provide stability, appearance and patient acceptance to dosage forms.

PHARMACEUTICAL EXCIPIENTS MARKET BY FUNCTIONALITY

Depending on the functionality the pharmaceutical excipients market is classified into fillers diluents, binders, suspending viscosity agents, flavoring agents sweeteners, coating agents, colorants, disintegrants, lubricants glidants, preservatives, emulsifying agents, and other functionalities. The fillers and diluents segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. Fillers are used to increase the volume of the material to enable easier processing of the ingredients and make it into a size suitable for consumption. And diluents acts as a disintegrants in dispersible and orally disintegrating tablet. Due to this properties demand for fillers diluents has increased.

PHARMACEUTICAL EXCIPIENTS MARKET BY FORMULATIONS

According to the formulations the pharmaceutical excipients market is bifurcated into oral, topical, parenteral, and other formulations. The oral formulations segment is expected to grow at the highest rate during the forecast period 2021-2027. Due to the effectiveness and wide usage of various oral formulations results in increase in demand for oral formulations. Also the availability of the wide range of oral formulations such as tablets, capsules, syrups will boosts market growth in upcoming years.

PHARMACEUTICAL EXCIPIENTS MARKET BY GEOGRAPHY

Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, Latin America, Middle East Africa and Rest of the World. North America held the largest market share of global Pharmaceutical Excipients market owing to, growing RD and adoption of noval technologies. Likewise, improvement in healthcare sector will boosts the market growth during forecast period.

PHARMACEUTICAL EXCIPIENTS MARKET BY KEY PLAYERS

The major key players of market includes Ashland Global Holdings (US), BASF SE (Germany), DuPont (US), Roquette Feres (France), Evonik Industries AG (Germany), Associated British Foods (UK), Archer Daniels Midland Company (US), Lubrizol Corporation (US), and Croda International (UK), Innophous Holdings (US), Kerry Group (Ireland), WACKER Chemie AG (Germany), Colorcon (US), DFE Pharma (Germany), JRS Pharma (Germany), and Air Liquide (France).

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