Global excipient market is also witnessing equally optimistic growth with growing pharmaceutical industry. Manufacturers are now focussing on usage of functional excipients to create controlled dosage forms of existing drugs. Asia Pacific region is expected to have high growth potential with increasing manufacturing capabilities, large patient pool and growing scientific capability base.
Bulk drugs manufacturing industry follows stringent regulatory framework. In order to import to USA, API manufacturers need to comply with stringent requirements of current Good Manufacturing Process (cGMP). European Commission is also in the process of implementing cGMP but they are also demanding a worldwide API inspection system. In addition, realising that APIs are bigger source of environment contaminants, pressure is mounting on European Medicines Agency to include environmental performance of API manufacturers as a key indicator under GMP guidelines.
In addition, global currency fluctuations are going to impact prices of APIs which is likely to witness lot of re-negotiations of fixed-price/term contracts in the bulk drug trades market.
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