USD 8.6 billion
Report ID:
SQMIG35I2120 |
Region:
Global |
Published Date: September, 2024
Pages:
242
|Tables:
126
|Figures:
77
Pharmaceutical Excipients Market size was valued at USD 10.12 Billion in 2023 and is poised to grow from USD 10.81 Billion in 2024 to USD 18.29 Billion by 2032, growing at a CAGR of 6.8% during the forecast period (2025-2032).
Rising demand for novel drugs and pharmaceuticals and advancements in drug delivery technologies are estimated to bolster pharmaceutical excipients market growth. Growing investments in the development of novel drugs and pharmaceuticals will also create new opportunities for pharmaceutical excipients companies in the long run. Surging demand for generic drugs is also expected to create new opportunities for pharmaceutical excipients companies in the long run. Increasing pharmaceutical manufacturing activity around the world is also forecasted to bolster market development across the study period and beyond. Growing sales of biologics is also expected to uplift the demand for novel pharmaceutical excipients in the future. On the contrary, high costs of manufacturing, stringent regulations, fluctuations in raw material supply, and competition from other alternative products are slated to impede Pharmaceutical Excipients market growth over the coming years. North America and the Asia Pacific region are estimated to remain the key markets for all pharmaceutical excipients companies.
US Pharmaceutical Excipients Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.6 billion
Largest Segment
Oral Formulations
Fastest Growth
Oral Formulations
Growth Rate
5.9% CAGR
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Global Pharmaceutical Excipients Market is segmented on the basis of product, formulation, functionality, functionality application, and region. By product, market is segmented into organic chemicals, inorganic chemicals, other chemicals. By functionality, market is segmented into fillers & diluents, suspending & viscosity agents, coating agents, binders, flavoring agents & sweeteners, disintegrants, colorants, lubricants & glidants, preservatives, emulsifying agents, other functionalities. By functionality application, market is segmented into stabilizers, taste masking, modified release, solubility & bioavailability enhancement, other functionality applications. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Pharmaceutical Excipients Market Analysis by Formulation
Oral formulations are projected to account for a dominant share of the global pharmaceutical excipients market. High preference for oral drug delivery around the world is projected to help the dominance of this segment. Developing pharmaceutical excipients for oral formulations will be most rewarding opportunity for market players as consumption of drugs in the form of tablets and capsules keeps on increases around the world.
On the other hand, the demand for pharmaceutical excipients for topical formulations is expected to increase at a notable pace over the coming years. Better absorption of topical excipients with liquid APIs (active pharmaceutical ingredients) and higher patient compliance as a result of sensory effects are key factors that will help generate new business through this segment going forward. Developing special pharmaceutical excipients for topical formulations exclusively will also offer good revenue generation potential for Pharmaceutical Excipients market players.
Pharmaceutical Excipients Market Analysis by Functionality
Use of pharmaceutical excipients as fillers and diluents is projected to account for the largest share of the market. Growing emphasis on balancing the dosage of medications and rising need for stability of drugs are projected to help this segment maintain a dominant share of the global market. Increasing need for dilution of strong medications to reduce risks and side effects on patients will also help this segment bolster pharmaceutical excipients market growth in the future.
Meanwhile, the demand for pharmaceutical excipients as binders is projected to increase at a rapid pace across the forecast period and beyond. Binding pharmaceutical excipients help keep the medication together till the time of release and they also help in maintaining the shelf stability of pharmaceuticals and drugs. Pharmaceutical excipients binders are also responsible for maintaining the structure of a pharmaceutical or impart flexibility to it as required.
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North America is estimated to lead the global pharmaceutical excipients demand outlook. Presence of key pharmaceutical excipients manufacturers, high demand for pharmaceuticals, and robust spending on medical research are key factors helping the dominance of this region. Rising popularity of biologics and generic drugs to reduce healthcare costs in this region is also expected to create new opportunities for pharmaceutical excipients companies in the future. Canada and the United States remain the top markets for pharmaceutical excipients companies in the North American region. Growing incidence of chronic illnesses in this region will also favor the demand for pharmaceutical excipients going forward.
The Asia Pacific region is emerging as the fastest-growing market for pharmaceutical excipient companies in the world. Growing investments in healthcare infrastructure development and rapidly increasing geriatric population are contributing to high demand for pharmaceutical excipients in this region. Rising healthcare expenditure and growing pharmaceutical manufacturing are also estimated to create new opportunities for pharmaceutical excipients companies in this region. India, China, and Japan are the most opportune countries for pharmaceutical excipients providers in the Asia Pacific region.
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Pharmaceutical Excipients Market Drivers
Surging Demand for Generic Medicine
Advancement in Drug Delivery
Pharmaceutical Excipients Market Restraints
High Costs of Manufacturing and Development
Fluctuations in Raw Material Supply and Prices
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Pharmaceutical excipients companies should invest heavily in R&D to develop and market new products that help them stand out from the competition. Partnerships, mergers, and acquisitions are also expected to be preferred strategies for pharmaceutical excipients providers in the future. Providing affordable yet effective pharmaceutical excipients could also help pharmaceutical excipients providers maximize their business scope in underdeveloped and developing countries with limited healthcare expenditure.
Pharmaceutical Excipients Market Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for drugs and pharmaceuticals and advancements in drug delivery are forecasted to key factors promoting sales of pharmaceutical excipients over the coming years. However, high costs of manufacturing and fluctuations in raw material pricing are slated to impede market growth in the future. North America is projected to spearhead the demand for pharmaceutical excipients owing to the presence of key pharmaceutical and biopharmaceutical companies. Development of natural and plant-based pharmaceutical excipients will help pharmaceutical excipients providers make a name for themselves in the long run.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 10.12 Billion |
Market size value in 2032 | USD 18.29 Billion |
Growth Rate | 6.8% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Pharmaceutical 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 Pharmaceutical 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pharmaceutical Excipients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pharmaceutical 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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Report ID: SQMIG35I2120
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