Market Research Report
Binder Excipients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||662785|
|Published||Content info||106 Pages
Delivery time: 2-3 business days
|Binder Excipients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: April 8, 2019||Content info: 106 Pages||
Binder excipients act as an adhesive to hold or bind granules, powders and other dry ingredients so as to impart necessary mechanical strength to pharmaceutical products. These excipients enable agglomeration of the powder into granules in the process known as granulation and also affect their properties, such as compaction, drug release, flow, solubility and strength. Binder excipients are used during drug or medicine formulations to improve disintegration, bulkiness, bioavailability and dissolution rate of the drug. In addition to this, the excipients play a vital role in bringing additional value to the pharmaceutical products by improving their properties such as absorption and controlled release of the active ingredients. According to the latest report by IMARC Group, titled "Binder Excipients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global binder excipients market reached a value of US$ 1.2 Billion in 2018.
The growing demand for various pharmaceutical products on account of ageing population and rising cases of chronic diseases acts as the major factor driving the binder excipients market worldwide. The recent patent expiries of a number of drugs is further projected to provide a positive thrust to the demand for binder excipients in generic drug manufacturing. Some of the other factors facilitating the market growth are advancements in nanotechnology, emergence of new excipients and rising demand for functionality excipients. Looking forward, the market value is projected to reach a value of US$ 1.7 Billion by 2024, expanding at a CAGR of 5.3% during 2019-2024.