The latest market research report by IMARC Group, titled “Binder Excipients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global binder excipients market reached a value of US$ 1.2 Billion in 2018. Binder excipients refer to formulations that act as adhesives to hold or bind pharmaceutical ingredients and help them in forming a cohesive unit. These excipients are used to bind dry ingredients, such as powders and granules, and impart mechanical strength to form compact masses known as tablets. They also affect granule properties like flow, handling and solubility. Apart from this, these excipients help in transporting the active ingredient to the intended site in the body. They keep the drug from being released too early in the assimilation process as well as prevent gastric irritation, stomach upset and damage to tender tissues.
One of the major factors driving the growth of the global binder excipients market is the escalating demand for generic medicines across the world. Additionally, increasing sales of various pharmaceuticals due to the growing outbreak of several chronic and seasonal diseases is providing thrust to the market growth. Moreover, various pharmaceutical companies are engaged in the development of improved and multifunctional binder excipients so as to enhance the functionality of the drug they are added in. This, along with patent expiry of popular drugs and advancements in nanotechnology, is anticipated to have a significant impact on the sales of binder excipients. On account of these factors, the market is estimated to reach a value of around US$ 1.7 Billion by 2024, expanding at a CAGR of 5.3% during the forecast period (2019-2024).
- On the basis of the type, the market has been divided into cellulosic, lactose, polyols, povidones, starch and polysaccharides, and co-processed compressible excipients. Amongst these, cellulosic excipients represent the most popular product type.
- Based on the application, the market has been categorized into tablets and capsules, and solution-based segments. Currently, tablets and capsules account for the majority of the total market share.
- On the geographical front, North America is the leading market, holding the dominant share. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed in the report. Some of the key players operating in the industry include Colorcon, EMD Millipore, Croda International, Dow Chemical, FMC BioPolymer, Fuji Chemical Industry and Ingredion.
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