What is the global market size of Pharmaceutical Excipients Market?

Global Pharmaceutical Excipients Market size was valued at around USD 8.85 billion in 2021 and is expected to reach a value of USD 12.22 billion by 2030, at a CAGR of 5.52% over the forecast period (2022–2030).

Who are the key vendors in the Global Pharmaceutical Excipients Market?

The main business tactics used by the majority of companies in the pharmaceutical excipients market are business expansions, new product launches, mergers and acquisitions, and partnerships with academic institutions. Over the projection period, the market will experience advancements due to the pharmaceutical industry's requirement for novel functional excipients. Due to this strategy, market leaders are constantly launching a variety of new excipients and modified categories of excipients already on the market. 'Ashland Global Holdings', 'BASF SE', 'DuPont', 'Roquette Feres', 'Evonik Industries AG'

What is the key driver of Global Pharmaceutical Excipients Market?

Due to their similarity to biomolecules naturally found in the body, high potency, and minimal side effects, biopharmaceuticals are steadily gaining popularity in the pharmaceutical sector. Hence, one of the pharmaceutical industry's fastest growing segments is the biopharmaceuticals form. Additionally, new ideas, including regenerative medicines, are being continuously improved. This offers a significant chance for the market to expand as a result. The majority of the drugs that are now sold in the market are among the top 15 biopharmaceutical items. As a result, the vast majority of pharma firms globally are gradually shifting their R&D focus to macromolecule products.

What is the key market trend for Global Pharmaceutical Excipients Market?

Due to rising demand for pharmaceutical and biopharmaceutical medications as well as new product launches, the market is predicted to have considerable expansion throughout the forecast period. In order to help active pharmaceutical components, work better and provide themselves a competitive edge, binders have gradually come to be recognized by the pharmaceutical industry. Also, as pharmaceutical output increases, the demand for binders is anticipated to rise as well, which is anticipated to fuel the segment's expansion. For instance, India's pharmaceutical manufacturing was third in the world by volume and ranked 14th by value in 2022, according to the India Brand Equity Foundation's 2022 study. They are naturally produced, multifunctional excipients that adhere to both pharmaceutical and food monographs and can be used as binders, fillers, and other uses for oral solid dosage forms. The market segment is thus expected to witness significant growth during in the forecast period as a consequence of the factors mentioned.

Which region accounted for the largest share in Global Pharmaceutical Excipients Market?

North America currently holds the largest market share for pharmaceutical excipients and is expected to continue on a similar path during the forecast period. The market will experience significant expansion throughout the projected period due to factors including the rapidly expanding pharmaceutical sector, rising demand for functional excipients, the presence of major players in the area, and technological advancements. It is expected that rising R&D investment will drive market growth. The introduction of technologically improved or superior excipients also accelerates the market's growth. For instance, Apisolex was introduced in the United States in May 2022 by Lubrizol Life Science (LLS) Health, one of the world leaders in speeding success and innovation in pharmaceutical research. It is a brand-new excipient for parenteral medicinal formulations that improves solubility. Hence, it is projected that the aforementioned reasons will support the market's expansion in the North American region.

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.

Pharmaceutical Excipients Market Report Snapshots

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FAQs

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. '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)'

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.

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.

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.

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Pharmaceutical Excipients Market Insights

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What is the global market size of Pharmaceutical Excipients Market?

Who are the key vendors in the Pharmaceutical Excipients Market?

What is the key driver of Pharmaceutical Excipients Market?

What is the key market trend for Pharmaceutical Excipients Market?

Which region accounted for the largest share in Pharmaceutical Excipients Market?

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