Latin America Pharmaceutical Excipients Market Size and Growth Rate:
According to the Research Report, the Latin America pharmaceutical excipients market Size was Expected to Reach USD 579.0 million by 2024 from USD 403.0 million in 2019, at a CAGR of 7.50% during the forecast period 2019-2024.
Latin America Pharmaceutical Excipients Market Overview:
Growth in this market is driven by the growing pharmaceutical industry in Latin American countries such as Mexico, Brazil, and Argentina; growing focus of MNCs on investing in the pharmaceutical and healthcare sectors in this region; fast growth in aging population & the subsequent rise in the prevalence of related disorders; and the availability of local and government funding for R&D activities.
Latin America Pharmaceutical Excipients Market – Growth Drivers and Restraints:
Factors such as the increasing pharmaceutical industry coupled with improvements in functional excipients, producing generics market propelled by patent cliffs, and the fast-growing biopharmaceuticals sector are fueling the market for pharmaceutical excipients. Also, the growing focus of MNCs on spending in the pharmaceutical and healthcare sectors in Latin America, availability of economic and government funding for R&D activities, and other significant factors are propelling the market in this region. The development of multifunctional and co-processed excipients, shifting the focus of pharmaceutical manufacturing to developing markets, and the increasing biologics and biosimilars industry also present significant possibilities for market growth.
However, the growing regulatory stringency regarding the approval of drugs and excipients along with the price and time-intensive drug development process is anticipated to restrain the growth of this market during the projection period.
The growth in the regional pharmaceutical excipients market is attributed to the advantages of lubricants to decrease the clumping of ingredients and conflict between a tablet and the dye cavity, ensuring tablet formation, and the benefits of glidants to improve the flow properties of a formulation by decreasing interparticle friction and cohesion.
Latin America Pharmaceutical Excipients Market – Regional Presence:
Latin America market covers the regions of Caribbean, Brazil, Colombia, Chile, Mexico, Central America, Argentina and Rest of South America. Mexico has governed the Latin America pharmaceutical excipients market, followed by Argentina. Over the preceding few years, Mexico has become an attractive destination for property in the pharmaceutical industry due to its large pharmaceutical product and consumption capacity and the revised regulatory framework. Developing pharmaceutical production and consumption, growing investments by MNCs, and improved regulatory framework are the main factors propelling the growth of the pharmaceutical excipients market in Mexico.
Some of the Promising Companies leading the Latin America Pharmaceutical Excipients Market Profiled in the Report are:
- DowDuPont (US)
- Roquette (France)
- Evonik (Germany)
- Ashland (US)
- BASF (Germany)
- Kerry Group (Ireland)
- Associated British Foods (UK)
- Croda (UK)
- Archer Daniels Midland Company (US)
- Lubrizol (US)
- Innocuous Holdings (US)
The Research Report segments the Latin America Pharmaceutical Excipients Market into the following submarkets:
Latin America Pharmaceutical Excipients Market – By functionality:
- coating agents
- fillers & diluents
- binders
- suspending & viscosity agents
- flavoring agents & sweeteners
- colorants
- disintegrates
- emulsifiers & solubilizers
- lubricants & glidants
- preservatives
Latin America Pharmaceutical Excipients Market - Byproduct:
- Minerals
- clay
- silicon dioxide
- calcium phosphate
- calcium carbonate
- titanium dioxide
- sugar
- maltitol
- lactose
- Sucrose
- glucose
- polymers
- MCC
- CMC
- HPMC
- ethyl cellulose
- methylcellulose
- pregelatinized starch
- croscarmellose sodium
- povidone (binders)
- crospovidone (disintegrates)
- sodium starch glycolate
- polyethylene glycol
- acrylic polymers
- Alcohol
- Sorbitol
- Propylene glycol
- Glycerine
- mannitol
Latin America Pharmaceutical Excipients Market - By Route of Administration:
- Parenteral
- tropical
- Oral
- Tablets
- Capsules
- Liquids
- Semisolids
Latin America Pharmaceutical Excipients Market – By Country:
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