Asia Pacific Pharmaceutical Excipients Market Size and
Growth Rate:
Asia Pacific Pharmaceutical Excipients Market was valued at
USD XX Million in 2018 and is expected to reach USD XX Million by 2023, at the compound annual rate of XX% from 2018 to 2023
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Asia Pacific Pharmaceutical Excipients Market Demand
Drivers and Insights:
Important parameters promoting market growth include a rise in the incidence of disorders which has increased the demand for drugs,
discoveries of new excipients in the pharma industry and improvements in the
techniques and equipment manufacturing excipients. But, the risk of adverse reactions
on the body and severe FDA guidelines for approval are thereby hindering the
market growth.
The Asia Pacific pharmaceutical excipients market is
anticipated to grow at a healthy CAGR during the projected period due to
growing utilization of parenteral products owing to the increase in the global
burden of chronic and lifestyle diseases and heavy expenditures by the
pharmaceutical industry on the development of biologics. Additionally, selection
of modern science like nanotechnology to sponsor innovative functions to the
excipients used for target-specific functionality of the fresh ingredients,
ending in reduced drug toxicity, a significant challenge encountered by the pharmaceutical industry is also driving the global market during the forecast
period.
The product demand is growing in emerging markets like
Asia-Pacific, since proper expansion planning, focus on various R&D and
innovations to launch new goods would be a great opportunity. The growth of the the regional market is hindered to a certain extent by the factors like declining
investments in R&D by excipients producers, and growing regulatory
requirements affecting the scarcity of approved manufacturing sites.
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Asia Pacific Pharmaceutical Excipients Market Growth
Insights:
The market in the Asia Pacific region is mainly supported by
the increase in demand for oral solid pharmaceutical drugs and the emergence of
novel therapeutics on the statement of the upsurge in the number of
pharmaceutical industries. The amalgamation of drug formulation and
nanotechnology in excipients have pointed to the development of nano-derived
liposomes, nano-coated tablets, and vaccines. In extension, several companies
have targeted the emerging economies for the development of their plants for
manufacturing pharmaceutical preservatives, excipients, glycerin and fatty
acids, owing to cost-effective labor.
Nevertheless, higher production cost and stringent
government laws are likely to hinder the overall growth. Applications including
parenteral formulation, topical formulation, and oral formulation are driving
in large investments. Furthermore, the target audience consisting of reputed
drug manufacturers, consulting firms, pharmaceutical excipients manufacturers,
research & development organizations will keep the future of the industry
robust.
Asia-Pacific remains the principal region regarding growth
because of the low price of raw materials, availability of cost-effective
workforce and untapped sources it offers regarding manufacturing facilities.
Major Players Covered in this Asia Pacific Pharmaceutical Excipients Market
Report are:
BASF, DuPont, Roquette, Ashland, Evonik, Kerry Group, Croda,
Associated British Foods, Archer Daniels Midland, Innophos Holdings, Lubrizol,
Wacker Chemie, and Signet.
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