Pharmaceutical excipients is the inert and pharmacologically inactive substance in the drug delivery system that is formulated with the active pharmaceutical ingredient of a medication to prepare the product in a consumable form. It helps in the drug absorption quality of the pharmaceutical product as well as enhance various properties of formulations such as bulkiness. 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. Purpose of addition of excipients are long term stabilization of formulations.
MARKET DYNAMICS- ASIA PACIFIC PHARMACEUTICAL EXCIPIENTS MARKET
The rise in healthcare expenditures and increase in demand for new drug delivery systems will responsible for the market growth. Likewise, extensive research on the excipients will lead to increase in drug development and discovery as well as boosts clinical trials in excipients used in formulations. Nevertheless, cost and time-intensive drug development process and lack of separate guidelines for manufacturing and approval of excipients are the major restraining factor that could hamper the growth of the market.
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COVID 19 IMPACT ON ASIA PACIFIC 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.
ASIA PACIFIC PHARMACEUTICAL EXCIPIENTS MARKET SEGMENTAL OVERVIEW
The study analyses Asia Pacific Pharmaceutical Excipients Market based on product, functionality, formulations and country.
PHARMACEUTICAL EXCIPIENTS MARKET BY PRODUCT
Depending on the various products included in the pharmaceutical excipients market is bifurcated 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 dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. The factor boosting segmental growth are increasing demand for superior quality excipients and rise in demand for drugs lead to increase in manufacturing process.
PHARMACEUTICAL EXCIPIENTS MARKET BY FUNCTIONALITY
According to 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 is expected to contribute to increasing demand for excipients over the assessment period. Fillers and glidants plays key role in formulation of dosage forms by decreasing the viscosity of the fluids and also acts as a disintegrants in dispersible and orally disintegrating tablet.
PHARMACEUTICAL EXCIPIENTS MARKET BY FORMULATIONS
Based on the formulations the pharmaceutical excipients market is bifurcated into oral, topical, parenteral, and other formulations. The oral formulations segment expected to account for the largest share of the market in 2020 owing to, oral dosage forms widely used which require large quantity of excipients during formulation of various tablets and capsules. The oral dosage forms provide patient compliance as well ease of administration hence demand for oral dosage forms has increased.
PHARMACEUTICAL EXCIPIENTS MARKET BY COUNTRY
Country wise, the study is comprised of the key countries such as the China, Japan, India and Rest of Asia Pacific. The China held the largest market share of Asia Pacific pharmaceutical excipients market and is likely to dominate the market over the estimated time frame. Owing to the factors responsible for the market growth in China are rise in demand for excipient during manufacturing process.
ASIA PACIFIC 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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