USD 5.53 billion
Excipients Market Size, Share, Growth Analysis, By product(Polymers, alcohol, sugar, mineral and gelatin), By Administration Route(Oral Excipients, Topical Excipients, Parenteral Excipients and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2131 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
76
Excipients Market Insights
Excipients Market size was valued at USD 5.86 billion in 2022 and is poised to grow from USD 6.21 billion in 2023 to USD 9.90 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).
Excipients have been shown to improve functionality and provide a competitive advantage in drug formulations, which has contributed to their increased use by pharmaceutical companies in recent years. Gelatin and Polyethylene Glycol are commonly used as excipients in the production of soft gel, hard capsules, ointments, solvents, and other products. Similarly, sweetening agents are excipients that are commonly added to pharmaceutical dosage to mask the bitter taste of the partially dissolved drug and improve palatability. Cellulose esters are another type of pharmaceutical excipient that is commonly found in osmotic and enteric-coated drug delivery systems.
Ongoing research and discovery of ideal or near-ideal substances that can be used in drug formulations and delivery have provided a significant boost to the market. Another factor driving global growth is that most pharmaceutical companies are developing more sophisticated excipients that play a more important role in drug delivery. Increased demand for medical drugs and medicines, as well as increased adoption of biopharmaceuticals, could be major market drivers. Strict rules and regulations regarding the negative environmental effects of pharmaceutical excipient production can be a major market constraint. Companies are currently working on optimising excipients in drug formulations and delivery. They are also working on developing such formulations. These factors are expected to have a significant impact on the future development and marketing of these products.
US Excipients Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Oral Excipients
Fastest Growth
Oral Excipients
Growth Rate
6% CAGR
Global Excipients Market 2022-2030 ($ Bn)
Country Share for Europe Region- 2022 (%)
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Excipients Market Segmental Analysis
Global excipients market is segmented based on the product, Administration Route and region. Based on product, the market is segmented into Polymers, alcohol, sugar, mineral and gelatin. Based on Administration Route, the market is segmented into Oral Excipients, Topical Excipients, Parenteral Excipients and Others. Based on Region it is categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Excipients Market Analysis by Product
Based on product, Polymers, which include microcrystalline cellulose and pregelatinized starch, emerged as the most profitable and volume-producing product category. In the forecast years, rising usage in various dosage forms such as suspensions, capsules, and tablets is expected to be a key driving factor for this segment. Polymers can perform a variety of functions in drug development, which explains their widespread use in pharmaceutical research and development. When compared to other types of excipients used in pharmaceutical preparations, they provide greater strength and a longer shelf life. Polymers provide ideal formulation characteristics for controlled/sustained release and aid in drug delivery to specific target sites.
Sugars have risen to become the second-largest product segment. Sugar is a preferred choice in a wide range of pharmaceutical applications due to its spherical shape and porous nature, which provides flowability and low friability. Sugar is also used as a drug delivery agent via the pulmonary route, and applications like this are expected to drive segment growth.
Excipients Market Analysis by Administration Route
Based on Administration Route, The Oral Administration Route segment dominated the Pharmaceutical Excipients Market. The main reason for this is their widespread use and effectiveness against a variety of illnesses. Initially, healthcare professionals recommended antiviral drugs as the primary means of COVID-19 protection, owing to their effectiveness in treating pneumonia and other respiratory illnesses caused by the virus. For example, Pfizer, a leading pharmaceutical company, announced in March 2021 that it had begun the phase 1 study of novel oral antiviral therapeutic agents to combat SARS-COV-2. Similarly, in October 2020, Roche has announced a collaboration with Atea Pharmaceuticals to develop an orally administered antiviral treatment for COIVID-19 patients, which was currently in Phase 2. Because these drugs, like many others, are commonly prescribed in large quantities and are primarily produced in tablet form for oral consumption, the demand for pharmaceutical excipients such as gelatin, polyethylene glycol, cellulose esters, and sweetening agents required for their production is expected to rise significantly, potentially boosting market growth.
Global Excipients Market By Administration route 2022 (%)
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Excipients Market Regional Insights
Europe is closely followed by North America and Asia Pacific due to the presence of larger companies that are direct manufacturers of the products, such as Avantor Performance Materials Inc. and FMC Corporation. Because of ongoing case studies on drug-excipient interactions to improve delivery efficiency and efficacy, the regions are expected to grow significantly.
Asia Pacific, the Middle East, and Africa are expected to grow at a faster rate. This is Because of an expanding generic market and a high volume of unmet medical need in the regions, A. These regions also allow for low-cost manufacturing processes and are a good source of raw materials for excipient manufacturing.
Global Excipients Market By Geography, 2022-2030
- Largest
- Fastest
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Excipients Market Dynamics
Excipients Market Drivers
Increasing Demand for Biopharmaceuticals to Bolster Market Growth
- Biopharmaceuticals are becoming increasingly popular in the healthcare industry. The main reason for this is their striking resemblance to natural biological compounds found in the human body, resulting in high efficiency with minimal side effects. They are also regarded as one of the pharmaceutical industry's fastest-growing segments. Because biopharmaceutical products are highly efficient and safe, their ability to treat conditions that were previously thought untreatable has resulted in a significant increase in the use of biopharmaceutical drugs in many countries. As a result, growth in the biopharmaceutical sector will increase demand for pharmaceutical excipients used in the production and manufacturing of biopharmaceutical drugs and products, boosting market growth in the forecasting period.
Excipients Market Restraints
Stringent Rules to Hinder Market Growth
- Strict rules and regulations regarding the negative environmental effects of pharmaceutical excipient production can be a major market constraint. These contain regulation and initiatives taken by industrial associations to set standards for the management of an organization's environmental impacts, product certification and issuance of licences to reduce the negative effect on the environment and adoption of clean technologies, and improvement in management practises under the Central Pollution Control Board's CREP (Corporate Responsibility for Environmental Protection) Programs. Several governments, however, are investing in research and development to reduce environmental pollution associated with the pharmaceutical excipients industry.
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Excipients Market Competitive Landscape
Global excipients market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Excipients Market Top Player's Company Profiles
- DowDuPont Inc.
- Ashland Global Holdings Inc.
- BASF SE
- Roquette Frères S.A.
- Evonik Industries AG
- Lubrizol Corporation
- Croda International Plc
- Associated British Foods plc
- Kerry Group plc
- Archer Daniels Midland Company
- Innophos Holdings Inc.
- WACKER Chemie AG
- Colorcon Inc.
- DFE Pharma GmbH & Co. KG
- JRS PHARMA GmbH & Co. KG
- Sensient Technologies Corporation
- Signet Chemical Corporation Pvt. Ltd.
- Avantor Performance Materials, LLC
- Pfanstiehl, Inc.
- Air Liquide S.A.
Excipients Market Recent Developments
- In March 2022, CD Formulation produced tailored solutions for increased bioavailability excipients, which aims to tackle the issue of poor bioavailability, a long-lasting challenge in drug development.
Excipients Key Market Trends
- The binder segment is expected to grow significantly during the forecast period due to rising demand for pharmaceutical and biopharmaceutical drugs, as well as product launches. Binders have gradually gained recognition in the pharmaceutical industry for their ability to assist active pharmaceutical ingredients in achieving better functionality and providing a competitive advantage. Furthermore, as pharmaceutical production increases, the demand for binders is expected to rise, propelling the segment's growth. The introduction of technologically advanced and innovative products is propelling the market segment's growth. Beneo, for example, will release galenIQ 721 in October 2021. It's a filler binder that boosts the flavour and stability of effervescent tablets and powders. Because it is a non-hygroscopic, water-soluble, and directly compressible excipient, it provides high content uniformity and production efficiency in effervescent applications. Furthermore, strategic initiatives taken by market participants contribute to the growth of the market segment.
Excipients Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our excipients market analysis, in terms of product, the segment of polymer and in terms of Administration Route, the oral segment held a larger market share. The rising demand for medical drugs, medicines and enhancing uptake of biopharmaceuticals is most likely to increase demand for the excipient market. And moreover, pharmaceutical firms have been producing more sophisticated excipients with an enhanced role in drug delivery is also a key contributing factor in the market expansion. Whereas Strict environmental regulations can cause an obstruction to the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.86 billion |
| Market size value in 2031 | USD 9.90 billion |
| Growth Rate | 6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Excipients Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Excipients Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Excipients Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Excipients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Excipients Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Excipients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Excipients Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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