According to the report “Pharmaceutical Excipients Market“, published by Market Data Forecast, the global market is projected to reach USD 7.64 Billion by 2020, at a CAGR of 6.1% from 2015 to 2020.
The Global Pharmaceutical Excipients Market was worth $5.68 billion in 2015 and estimated to be growing at a CAGR of 6.1%, to reach $7.64 billion by 2020. An excipient is a natural or synthetic constituent formulated alongside the active ingredient of a medication, included for the purpose of inducing and catalysing a wide range of physical and chemical properties.
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Increasing incidences of chronic diseases owing to sedentary life style, hefty investments by the pharmaceutical companies in development of medicines, implementing new novelties like nanotechnology are the major driving forces of the market. However, decreasing the side-effects of drugs and developing environmental friendly manufacturing processes are the major challenges faced by the pharmaceutical industry. As discussed earlier, ever- increasing demand in the emerging markets like Asia-Pacific and Latin America is proving to be a lucrative opportunity for the market players if they can plan suitable expansion strategies and introduce new and innovative products. Nevertheless, one should keep in mind that the growth of the market is hindered to a certain level by the fact that investments in R&D by major companies are not up to the essential level and increasing regulatory requirements which are making it progressively difficult to get new manufacturing facilities approved.
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Ashland Inc., AkzoNobel, Archer Daniels Midland Company, Associated British Foods PLC, BASF SE, Colorcon, Inc., Croda International PLC, Evonik Industries AG, FMC Corporation, Innophos Holdings Inc., J.M. Huber Corporation, Merck Millipore, Roquette Group, The DOW Chemical Company and Lubrizol Corporation are some of the key players which have been discussed in the report.
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