According to the new research report "The Pharmaceutical Excipients Market by Products (Organic chemicals, Inorganic Chemicals), Functionality (Fillers, Binders, Lubricants, Preservatives), & by Route of Administration (Oral, Topical, Parenteral, Others) - Global Forecast to 2019", published by MarketsandMarkets, the Pharmaceutical Excipients Market was valued at $5,760.0 million in 2013 and is expected to grow at a healthy CAGR of 6.7% from 2014 to 2019.
The Pharmaceutical Excipients Market has witnessed a strong growth over the past few years. Investments by the pharmaceutical manufacturers on novel method of drug delivery have propelled the growth of this market. Further, rising focus on development of biologics and new excipients will also drive the excipients market during the forecast period. Recently, functional excipients have gained greater focus due to their applications in formulations employing newly developed active pharmaceutical ingredients. However, declining investments on R&D by excipients manufacturers, and stringent regulatory requirements curbing the number of the U.S. FDA approved manufacturing sites are factors that inhibit the growth of this market to a certain extent.
The global Pharmaceutical Excipients Market is segmented by product, functionality, route of administration, and geography. It also discusses the key market drivers, restraints, opportunities, and challenges of this market and its sub-markets. While the market by products is segmented into organic and inorganic chemicals, the market by route of administration is sub-segmented into oral, topical, parenteral, and other excipients.