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 2025-2032

Excipients Market size was valued at USD 6.21 Billion in 2023 and is poised to grow from USD 6.58 Billion in 2024 to USD 10.49 Billion by 2032, growing at a CAGR of 6% during the forecast period (2025-2032).

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.