Binder Excipients Market is Booming Globally | Keyplayers: Colorcon, Croda International, EMD Millipore, Dow Chemical, FMC BioPolymer, Fuji Chemical Industry and Ingredion
According to the latest report by IMARC Group titled, “Binder Excipients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 1.2 Billion in 2018. Looking forward, the market is expected to reach a value of US$ 1.7 Billion by 2024, exhibiting a CAGR of around 5.3% during 2018-2023.
A binder excipient is a pharmacologically inactive substance that acts as an adhesive to bind or hold dry powders, granules and other ingredients in medicine or drug formulations. It imparts mechanical strength to compact masses, such as tablets and capsules, and impacts the flow, handling, solubility, compaction and release rate of drugs upon absorption in the body. Furthermore, it aids in transporting active ingredients to the intended site, along with preventing gastric irritation and damage to tender tissues.
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The global market is driven by the thriving pharmaceutical industry and escalating demand for generic medicines across the globe. The growing prevalence of critical medical ailments across the world, especially among the geriatric population, is augmenting the need for medicines and other pharmaceutical products. Furthermore, advancements in the field of nanotechnology are simplifying the development of improved and multifunctional excipients, thus contributing to the market growth.
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Key Market Segmentation:
Breakup by Type:
• Starch and Polysaccharides
• Co-Processed Compressible Excipients
Breakup by Application:
• Tablets and Capsules
• Solution Based
Breakup by Region:
• Asia Pacific
• North America
• Middle East and Africa
• Latin America
The report has also examined the competitive landscape of global binder excipients market. Some of the major players in the market are Colorcon, Croda International, EMD Millipore, Dow Chemical, FMC BioPolymer, Fuji Chemical Industry and Ingredion.
Key highlights of the report:
• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players
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