DUBLIN--(BUSINESS WIRE)--The "Latin America Pharmaceutical Excipients Market by Functionality (Fillers, Coating, Disintegrants, Binders, Lubricants, Preservatives, Emulsifying Agents, Lubricants, Glidants, Diluents), Country (Mexico, Argentina, Columbia, Peru) - Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Latin America pharmaceutical excipients market is projected to reach USD 579 million by 2024 from USD 403 million in 2019, at a CAGR of 7.5%.
Factors such as the growing pharmaceuticals industry coupled with advancements in functional excipients, the growing generics market propelled by patent cliffs, and the rapidly growing biopharmaceuticals sector are driving the market for pharmaceutical excipients.
The emergence of multifunctional and co-processed excipients, shifting the focus of pharmaceutical manufacturing to emerging markets, and the growing biologics & biosimilars industry also present significant opportunities for market growth.
However, the increasing regulatory stringency regarding the approval of drugs and excipients along with the cost and time-intensive drug development process are expected to restrain the growth of this market during the forecast period.
The prominent players in the Latin American pharmaceutical excipients market are DowDuPont (US), Roquette (France), Ashland (US), BASF (Germany), and Kerry Group (Ireland).
The lubricants & glidants segment is expected to grow at the highest rate during the forecast period
Based on functionality, pharmaceutical excipients are categorized as fillers & diluents, binders, suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifiers & solubilizers, and other functionalities.
The lubricants & glidants segment is projected to witness the highest growth in the LATAM pharmaceutical excipients market during the forecast period. This growth is attributed to the benefits of lubricants to reduce the clumping of ingredients and friction between a tablet and the dye cavity, ensuring tablet formation, and the advantages of glidants to improve the flow properties of a formulation by reducing interparticle friction and cohesion.
Argentina is projected to witness the highest growth during the forecast period
Argentina is expected to register the highest growth in the LATAM pharmaceutical excipients during the forecast period. The rising production & consumption of pharmaceutical products, large pool of domestic pharmaceutical manufacturers, rising pharmaceutical expenditure, growing investments by multinational market players in Argentina, growing production of biosimilar products, and rising burden of diseases are factors driving the growth of this segment.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Research Design
2.2 Research Methodology
2.3 Market Breakdown and Data Triangulation
2.4 Market Sizing Approach for the Latin American Pharmaceutical Excipients Market
3 Pharmaceutical Excipients Market
3.1 Global Pharmaceutical Excipients Market
3.2 Latin American Pharmaceutical Excipients Market
4 Latin America Pharmaceutical Excipients Market, By Functionality
4.1 Introduction
4.2 Fillers & Diluents
4.3 Suspending & Viscosity Agents
4.4 Coating Agents
4.5 Binders
4.6 Flavouring Agents & Sweeteners
4.7 Disintegrants
4.8 Colorants
4.9 Lubricants & Glidants
4.10 Preservatives
4.11 Emulsifiers & Solubilizers
4.12 Other Functionalities
5 Latin America Pharmaceutical Excipients Market, By Country
5.1 Introduction
5.2 Mexico Pharmaceutical Excipients Market
5.3 Argentina Pharmaceutical Excipients Market
5.4 Colombia Pharmaceutical Excipients Market
5.5 Peru Pharmaceutical Excipients Market
6 Competitive Landscape
7 Company Profiles
7.1 Ashland
7.2 BASF SE
7.3 DowDuPont
7.4 Roquette
7.5 Kerry Group
For more information about this report visit https://www.researchandmarkets.com/research/xf6dhg/latin_america?w=4
