Binder excipients act as an adhesive to hold or bind granules, powders and other dry ingredients so as to impart necessary mechanical strength to pharmaceutical products. These excipients enable agglomeration of the powder into granules in the process known as granulation and also affect their properties, such as compaction, drug release, flow, solubility and strength. Binder excipients are used during drug or medicine formulations to improve disintegration, bulkiness, bioavailability and dissolution rate of the drug. In addition to this, the excipients play a vital role in bringing additional value to the pharmaceutical products by improving their properties such as absorption and controlled release of the active ingredients. According to the latest report by IMARC Group, titled “Binder Excipients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global binder excipients market reached a value of US$ 1.2 Billion in 2018.
The growing demand for various pharmaceutical products on account of ageing population and rising cases of chronic diseases acts as the major factor driving the binder excipients market worldwide. The recent patent expiries of a number of drugs is further projected to provide a positive thrust to the demand for binder excipients in generic drug manufacturing. Some of the other factors facilitating the market growth are advancements in nanotechnology, emergence of new excipients and rising demand for functionality excipients. Looking forward, the market value is projected to reach a value of US$ 1.7 Billion by 2024, expanding at a CAGR of 5.3% during 2019-2024.
Breakup by Type:
Based on type, cellulosic excipients are the most popular product type, holding the majority of the total global market. Other major product types are lactose, polyols, povidones, starch and polysaccharides, and co-processed compressible excipients.
Breakup by Application:
On the basis of application, the market has been segmented as tablets and capsules and solution based. Amongst these, tablets and capsules represent the largest segment of the global binder excipients market.
Region-wise, North America is the leading market, accounting for the majority of the total global market. It is followed by Asia Pacific and Europe. Other major regions include the Middle East and Africa, and Latin America.
The competitive landscape of the global binder excipients market has also been examined with some of the key players being Colorcon, Croda International, EMD Millipore, Dow Chemical, FMC BioPolymer, Fuji Chemical Industry and Ingredion.
This report provides a deep insight into the global binder excipients market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the binder excipients market in any manner.
Key Questions Answered in This Report:
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