Pharmaceutical Excipients Market exhibiting CAGR of 6.1% by 2032, due to the growing demand for oral pharmaceutical medicines | insightSLICE
The global Pharmaceutical Excipients market size was estimated to be US$ 8.3 billion in 2021 and is expected grow at a CAGR of 6.1% between 2023 to 2032.
Pharmaceutical excipients are substances that are added to the active pharmaceutical ingredients (prodrug) to enhance their stability, increase volume to ingestible levels, or facilitate delivery of drug in the body. They are properly tested before being selected for the drug manufacturing process.
Diluents, binders, gelling agents, coating agents, glidants, etc are the main categories of pharmaceutical excipients based on their functioning. The pharmaceutical excipients can also be categorized as organic, or inorganic depending on their chemical composition.
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Global Pharmaceutical Excipients Market Key Segments:
- Organic Chemicals
- Inorganic Chemicals
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Lubricants and Glidants
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
- Topical Formulations
- Oral Formulations
- Parenteral Formulations
- Other Formulations
- Pharmaceuticals Companies
- Research Organization
By Distribution Channel
- Online Pharmacy
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Rest of South America
Pharmaceutical excipients can also be categorized based on delivery method into oral, topical, or parenteral, etc. Gelatin and polyethylene glycol are commonly used in the manufacturing of capsules and gels, whereas, Cellulose esters are used for the osmotic or enteric coating of drugs.
Sugars or other sweetening agents are generally added to enhance the palatability of the dissolved medicine. Along with this new age, nanoparticle-based excipients are being developed to support nano-drug delivery methods.
The key players of the Global Pharmaceutical Excipients Market are:
Some of the biggest companies operating in the pharmaceutical excipients market are Ashland Global Holdings, BASF SE, DuPont, Roquette Feres, Evonik Industries AG, Associated British Foods, Archer Daniels Midland Company, Lubrizol Corporation, Croda International, Kerry Group, and many more.
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Driving factors for the growth of Global Pharmaceutical Excipients Market
The expanding usage of generic medications and increased demand for multifunctional excipients is expected to be the key contributors to growth and revenue in the pharmaceutical excipients market. Excipients’ significance and increasing use by pharmaceutical organizations in recent years is predicted to rise throughout the forecasted period since they aid to improve the functioning and give an extraordinary benefit in medicine compositions.
Continued research and development of optimal or near-ideal materials for use in pharmaceutical formulations has offered a considerable boost to the market. Another factor driving global expansion is that most pharmaceutical firms are developing increasingly complicated excipients, which play a larger role in medicine delivery.
Increased demand for therapeutic medications and treatments, as well as increased pharmaceutical usage, might also become major market drivers. In contrast, the market growth could substantially be hampered by tight rules and regulations regarding the negative environmental impacts of pharmaceutical excipients.
The leading market segments of Global Pharmaceutical Excipients Market
Microcrystalline cellulose and gelatinized starch are currently the biggest sales and revenue-generating products for the pharmaceutical excipients market. As these biopolymers perform various tasks in drug stability and delivery, they are expected to be adopted for widespread use throughout the drug market.
Polymers provide better shelf life and enable controlled/sustained release mechanisms for the active pharmaceutical ingredients and therefore have been mostly used as pharmaceutical excipients in a range of products. The growth of polymers in the pharmaceutical excipients market is expected to rise for all forms of administrations like liquids, tablets, and capsules during the projected period.
Sugars have grown to become the second-largest product category in the pharmaceutical excipients market and almost accounted for 30% of total sales in 2021. Sugar is a popular choice in a variety of drug formulations because of its spherical shape and pore structure, allowing for better permeability and low compression ratio.
Sugar is also used as a pulmonary medicine delivery agent, and uses like this are predicted to aid their expansion in the pharmaceutical excipients market. Sugars are also used in pharmaceutical formulations to assist in ingestion by increasing the palatability of various bitter medicinal products.
There is a rising demand for novel substances that support nanoparticle drug delivery for oncological medications which is expected to generate new interest in pharmaceutical excipients research and development. The patent expiry of established drugs is also expected to make way for new formulations and boost the global pharmaceutical excipients market significantly.
As a result, pharmaceutical businesses are anticipated to swiftly adopt novel formulations and optimize existing pharmaceutical excipients. Development and research in new manufacturing processes, applications in newer pharmaceuticals, and the overall expanding drug industry are all having a favorable influence on this sector.
Increased regulatory demands to create better and more optimized solutions will also aid in the identification of medication excipients. These factors are likely to boost total R&D activities, hence expanding the pharmaceutical excipients market during the next decade.
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Regional performance of Pharmaceutical Excipients Market
Key sales and growth in the pharmaceutical excipient industry are currently occurring in Europe and North America. This is owing to the presence of large corporations that are direct manufacturers of the ingredients used as pharmaceutical excipients. The pharmaceutical market in these regions is expected to grow significantly as a result of ongoing research on drug-excipient interactions to improve their efficiency and efficacy.
The Asia-Pacific and the Middle East along with Africa are also expected to see positive growth in the pharmaceutical excipients market owing to the increased use of generic drugs. Low-cost production strategies and higher availability of raw materials will enable better production volumes and thus drive significant growth in these regions.
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