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Latin America Pharmaceutical Excipients Market worth $579 Million by 2024

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[email protected] snehal@119
Latin America Pharmaceutical Excipients Market worth $579 Million by 2024

Growth in this market is driven by the growing pharmaceutical industry in Latin American countries such as Brazil, Mexico, and Argentina; increasing focus of MNCs on investing in the pharmaceutical and healthcare sectors in Latin America; growing pricing pressures; rapid growth in aging population & the subsequent increase in the prevalence of related diseases; and the availability of local and government funding for R&D activities.

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%.

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Market Segmentation:-

The Latin America pharmaceutical excipients market, by functionality, is segmented into fillers & diluents, binders, suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifiers & solubilizers, and other functionalities. The fillers & diluents segment accounted for the largest market share in 2018. The increased use of fillers & diluents in the development and production of solid dosage form and the wide applications of diluents in the wet granulation and direct compression process for tablet formulation are driving the growth of the fillers & diluents segment.

Recent Developments:-

  • In 2018, Roquette launched the carbohydrate-based excipients—Maize Starch IP/BP and Mannitol IP.
  • In 2017, DuPont acquired FMC Corporation’s Health & Nutrition business except for the Omega-3 business. With this acquisition, FMC’s Health & Nutrition segment will be integrated into the DuPont Nutrition & Health segment. It extends DuPont’s capabilities into the fast-growing pharma excipients space.
  • In 2016, BASF signed an agreement with Colorcon (US) to sell its Kollicoat IR Coating Systems product line to Colorcon. This enabled the company to focus on its core competencies. However, the company will continue to develop and promote innovative film coating polymers including Kollicoat IR.

Regional Analysis:-

In 2018, Mexico dominated the Latin America pharmaceutical excipients market, followed by Argentina. Over the past few years, Mexico has become an attractive destination for investment in the pharmaceutical industry due to its large pharmaceutical production and consumption capacity and the improved regulatory framework.

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Top Key Players:-

Prominent players in the Latin America pharmaceutical excipients market are DowDuPont (US), Roquette (France), Ashland (US), BASF (Germany), and Kerry Group (Ireland).

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