Moderate growth is expected for the global pharmaceutical market as technical issues, such as solubilization strategies, and quality issues, such as those relating to the supply chain and quality-by-design programs, influence growth.
The global market for pharmaceutical excipients was valued at $5.8 billion in 2012, and it is expected to reach $6.3 billion in 2013, according to the market research firm BCC Research. BCC projects the market for excipients will grow to $8.8 billion by 2018 and register a five-year compound annual growth rate of 6.9% from 2013 to 2018.
Pharmaceutical excipients serve various therapeutic-enhancing purposes, such as facilitating drug absorption or solubility, and the importance of these functionalities to a drug product are influencing growth. The forces that offer challenges to the global excipients industry in 2013 are problems in the global supply chain, the demands of QbD, and concerns about drug safety. These forces as well as increases in global usage of pharmaceuticals will continue to shape this market over the next five years.