North America Pharmaceutical Excipients Market is expected to reach US$ 2,877.1 million by 2027

PRESS RELEASE BY The Insight Partners 04 Jun 2021

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Fillers and Diluents Segment has the Largest Share of Product in the North America Pharmaceutical Excipients Market during 2020–2027

According to The Insight Partners market research study on “North America Pharmaceutical Excipients Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Product, Functionality, and Type of Formulation,” is expected to reach US$ 2,877.1 million by 2027 from US$ 1,865.4 million in 2019. The market is estimated to grow at a CAGR of 5.7% from 2020 to 2027. The report provides trends prevailing in the North America Pharmaceutical excipients market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the surge in generics market and growth of the pharmaceutical market backed by multi-functional excipients are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the cost and time intensive drug development process.

The global supply chain of medicines is under pressure because of a deficit of raw materials such as active pharmaceutical ingredients (APIs) and excipients. A large share of the medicines sold in the United States is produced in China and India, while almost 80% of the US API demand is met by these two countries. As one of the world's largest producers of generic medicines (producing 20% of global generics supply), India imports almost 70% of its APIs from China; therefore, disruption in its supply chain has resulted in drug supply shortages. In the likely and best-case scenarios, the effects of disruptions on pharmaceutical production and consequently on excipients demand caused by lockdowns and travel and transport bans across various countries especially in the U.S. is relatively short term. According to the research study, around 24% of patients with COVID-19 suffered from acute heart failure (AHF) in the US when they were first identified with the COVID-19. However, this does not mean that all 24% of COVID-19 patients will suffer from acute heart failure in the future. The demand for drugs is increasing with the rising number of patients with cardiovascular diseases during this pandemic. There is rise in the discovery of clinical drugs for COVID–19 due to which pharmaceutical excipients market is likely to grow. However, the supply disruptions due to extended lockdowns in various countries can have a more substantial impact on oral solid dosage drug manufacturing and, in turn, significantly impact the demand growth of excipients in the North American region.

The market for pharmaceutical excipients market is segmented into product, functionality, and type of formulation. Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals and other products. In 2019, the organic chemicals segment accounted for the largest share, moreover the same segment is expected to grow at a fastest CAGR during the forecast period. Organic chemicals are chemical compounds that contain carbon-hydrogen bonds and these can be found in natural or synthetic form. Most organic chemicals are carbon based, hence produced by plants or animals, whereas synthetic organic chemicals are produced through chemical reactions. Organically derived pharmaceuticals excipients include oleochemicals, carbohydrates, petrochemicals, proteins, povidones, acrylic polymers, mineral hydrocarbons, starch, cellulose, and others. The most commonly used oleo chemical-based pharmaceutical excipients are fatty alcohols, mineral stearates, glycerin, and lipids. The organic segment is expected to lead the market owing to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry.

DuPont de Nemours, Inc., Roquette Frères, Ashland Global Holdings, Inc., BASF SE, Evonik Industries AG, Associated British Foods Plc, Archer Daniels Midland Company, Lubrizol Corporation, and Croda International Plc are among the leading companies in the North America pharmaceutical excipients market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in October 2019, Ashland announces the launch of three new pharmaceutical solutions, Plasdone S630 Ultra, Benecel XR and XRF, and Viatel bioresorbable polymers. Ashland is expanding its portfolio to meet formulators growing needs and will introduce them at the upcoming tradeshows AAPS and CPhI.

The report segments the North America Pharmaceutical Excipients market as follows:

By Product

  • Organic Chemicals
  • Inorganic Chemicals
  • Other Products

By Functionality

  • Fillers & Diluents
  • Suspending & Viscosity Agents
  • Coating Agents
  • Binders
  • Preservatives
  • Emulsifying Agents
  • Other Functionalities

By Type of Formulation

  • Oral Formulations
  • Topical Formulations
  • Parenteral Formulations
  • Other Formulations

By Country

  • North America
    • US
    • Canada
    • Mexico
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