USD 8.6 billion
Pharmaceutical Excipients Market Size, Share, Growth Analysis, By Product(Organic Chemicals, Inorganic Chemicals, Other Chemicals), By Functionality(Fillers & Diluents, Suspending & Viscosity Agents, Coating Agents, Binders), By Formulation(Oral Formulations, Topical Formulations, Parenteral Formulations, Other Formulations), By Functionality Application(Stabilizers, Taste Masking, Modified Release, Solubility & Bioavailability Enhancement), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2120 |
Region:
Global |
Published Date: September, 2024
Pages:
242
|Tables:
126
|Figures:
77
Pharmaceutical Excipients Market Insights
Global Pharmaceutical Excipients Market size was valued at USD 9.48 billion in 2022 and is poised to grow from USD 10.12 billion in 2023 to USD 17.13 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).
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 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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Oral Formulations
Fastest Growth
Oral Formulations
Growth Rate
5.9% CAGR
Global Pharmaceutical Excipients Market ($ Bn)
Country Share for North America Region (%)
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Pharmaceutical Excipients Market Segmental Analysis
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 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.
Global Pharmaceutical Excipients Market By Formulations
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Pharmaceutical Excipients Market Regional Insights
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.
Global Pharmaceutical Excipients Market By Region
- Largest
- Fastest
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Pharmaceutical Excipients Market Dynamics
Pharmaceutical Excipients Market Drivers
Surging Demand for Generic Medicine
- Costs of drugs and pharmaceuticals are reaching all-time highs around the world and this has led to the high popularity of generic medicine. Growing emphasis on increasing healthcare accessibility and reducing healthcare costs is projected to bolster the demand for generic medicine thereby also favoring pharmaceutical excipients market development.
Advancement in Drug Delivery
- Growing investments in the development of novel drug delivery systems is also bolstering the demand for novel pharmaceutical excipients. Pharmaceutical excipients that can improve bioavailability of drugs and improve patient health are projected to witness a robust hike in demand as novel drug delivery technologies are adopted.
Pharmaceutical Excipients Market Restraints
High Costs of Manufacturing and Development
- Pharmaceutical excipients require a substantial amount of research in their development and this leads to high costs for the whole product lifecycle. Rising use of advanced equipment for the manufacturing of different types of pharmaceutical excipients will also add up to the overall costs of manufacturing and thereby impede sales to a certain extent in the future.
Fluctuations in Raw Material Supply and Prices
- Pharmaceutical excipients are manufactured using multiple raw materials sourced from different parts of the world. Disruptions to supply chain or changes in economic conditions affect the availability and pricing of these raw materials, which in turn, is expected to hamper pharmaceutical excipients market growth potential going forward.
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Pharmaceutical Excipients Market Competitive Landscape
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
- BASF SE (Germany)
- Ashland Inc. (US)
- Evonik Industries AG (Germany)
- Kerry Group PLC (Ireland)
- Roquette Frères (France)
- Merck KGaA (Germany)
- Associated British Foods PLC (UK)
- ADM (US)
- Wacker Chemie AG (Germany)
- Air Liquide (France)
- Dow (US)
- Lubrizol Corporation (Berkshire Hathaway) (US)
- Colorcon (US)
- DFE Pharma (Germany)
- Innophos (US)
- J. Rettenmaier & Söhne GmbH + Co KG (Germany)
- Actylis (US)
- Meggle GmbH & Co. KG (Germany)
- Fuji Chemical Industries Co., Ltd. (Japan)
- Corel Pharma Chem (India)
- Biogrund GmbH (Germany)
- Nitika Pharmaceutical Specialties Pvt. Ltd. (India)
- R.T. Vanderbilt Holding Company, Inc. (US)
- Beneo (Germany)
Recent Developments
- In October 2023, a new range of pharmaceutical excipients was launched at the CPHI Barcelona event by Clariant, a renowned chemicals company. VitiPure® excipients were aimed at solving the challenges of bioavailability of active pharmaceutical ingredients for pharmaceutical manufacturers.
- In November 2021, three new pharmaceutical excipients were launched by Gattefossé, a leading provider of pharmaceutical excipients. Labrafac MC60, Gelucire 59/14 and Emulfree Duo were launched after they cleared all regulatory requirements and helped the company strengthen its stance in the global market.
- Back in July 2021, Pharmacel sMCC 90, a silicified microcrystalline cellulose (MCC) was launched by a leading pharmaceutical excipient provider known as DFE Pharma. The new excipient solution was developed for oral dosage formulations.
Pharmaceutical Excipients Key Market Trends
- Natural Pharmaceutical excipients: Pharmaceutical excipients companies should focus on incorporating natural and biodegradable ingredients in their offerings to cater the evolving consumer preferences. Growing number of people abstaining from chemical-based medications will push the demand for drugs with natural pharmaceutical excipients and provide new opportunities for market players in the long run.
- Use of Continuous Manufacturing Practices: As demand for pharmaceutical excipients increases around the world pharmaceutical excipients companies should invest in continuous manufacturing technologies and techniques to maximize their business scope in the future. Adoption of continuous manufacturing will help pharmaceutical excipients companies keep up with the soaring demand for pharmaceutical excipients around the world.
Pharmaceutical Excipients Market SkyQuest Analysis
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 2022 | USD 9.48 billion |
| Market size value in 2031 | USD 17.13 billion |
| Growth Rate | 6.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| 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 |
|
| 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 Pharmaceutical 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 Pharmaceutical 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 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.
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 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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