Despite Big Pharma’s current doldrums, the markets for active pharmaceutical ingredients (APIs) and excipients are growing at a healthy rate. According to the most recent report by RNCOS analysts, the global market stood at US$113bn in 2012 and was forecast to grow at a CAGR of around 8% in the period 2012–2017.1 The US market accounts for the majority of this, while it is estimated that the European market will reach around $38.3bn by 2017.2 Demand behind this growth stems from the continued rise in the biotech and generic sectors, according to Transparency Market Research.3 However, increased market fragmentation and reduction in Big Pharma’s overall R&D expenses are some of the factors that could hamper the future growth of the market.
It is a similar story for pharmaceutical excipients, as the market for fillers, binders, lubricants and preservatives is poised to reach $7.3bn by 2018.4 The market was valued at $5.7bn in 2013 and is expected to see continued growth from 2013–2018. The increasing use of generics is also boosting the main categories of excipients, including carbohydrates, oleochemicals, petrochemicals, polymers, microcrystalline cellulose, sugar and calcium carbonate.
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