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ALBANY, New York,
November 7, 2012 /PRNewswire/ --
According to a new market report published by Transparency Market Research (
Excipients Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast, 2012 - 2018," the global excipients demand was worth
USD 5,260.0 million in 2011 and is expected to reach
USD 7,586.6 million in 2018, growing at a CAGR of 5.4% from 2013 to 2018. Currently,
Europe dominates the global market in terms of demand; however
Asia Pacific is expected to be the most promising market in the near future mainly due to the availability of low cost products and cheap labor. The
North America market for excipients in terms of revenue is growing at a CAGR of 5.3% from 2013 to 2018 as the U.S. has the biggest pharmaceutical market globally.
Browse the full report at http://www.transparencymarketresearch.com/excipients-market.html
The demand for excipients is witnessing significant growth as it is considered as the functional additive in the pharmaceutical industry. Some of the factors driving the growth of the excipients market include increasing demand for novel excipients and growth in the global pharmaceuticals market. However, the market is being restrained due to the high cost of manufacturing, supply chain issues, and declining R&D investment.
In terms of products, the market is dominated by sugar and other applications which are primarily driven by its uses as fillers, diluents and tablet coating agents. The market for sugar and other products in terms of volumes is expected to grow at a CAGR of 5.1% from 2013 to 2018. Following sugar and other products, the market for alcohol and gelatin are also growing significantly.