The size of the Pharmaceutical Excipients Market in the Middle East & Africa was worth USD 0.22 billion in 2023 and is estimated to be growing at a CAGR of 6.9%, to reach USD 0.31 billion by 2028.
An excipient is a natural or synthetic constituent formulated alongside the medication's active ingredient, including inducing and catalyzing a wide range of physical and chemical properties.
The rise in chronic diseases due to a sedentary lifestyle, heavy investments by pharmaceutical companies in the development of biologics, and adopting modern innovations like nanotechnology are key market driving forces. Reducing the side effects of drugs and developing eco-friendly solutions for manufacturing processes is the major challenge faced by the pharmaceutical industry.
Proper expansion strategies, launching a new product pipeline would be a lucrative opportunity for the companies operating in these industries. Still, the market's growth is hindered to a certain level by the fact that investments in R&D by major companies are not up to the required level, and proper documentation of regulatory requirements is making it increasingly hard to get new manufacturing facilities approved, which are definite threats to overcome.
This research report on the MEA Pharmaceutical Excipients market has been segmented and sub-segmented into the following categories:
By Formulation Type:
Regionally, despite being a minority share in the global market in terms of revenue, its flourishers with a significant growth rate attributed to the untapped resources it offers. Emerging players in this market give stiff competition to the top 10 players who occupy almost 70% of the total market. It can be attributed to the rapid growth of the market and its opportunities in developing countries.
KEY MARKET PLAYERS:
Companies such as Ashland Inc., AkzoNobel, Archer Daniels Midland Company, Associated British Foods PLC, BASF SE, Colorcon, Inc., Croda International PLC, Evonik Industries AG, FMC Corporation, Innophos Holdings Inc., J.M. Huber Corporation, Merck Millipore, Roquette Group, The DOW Chemical Company and Lubrizol Corporation are expected to play a significant role in the MEA pharmaceutical excipients market.
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