WASHINGTON, April 26, 2023 (GLOBE NEWSWIRE) -- The Global pharmaceutical excipients Market is valued at USD 8.2 Billion in 2022 and is projected to reach a value of USD 12 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.7% over the forecast period 2023-2030.
Market Overview
The rise in the number of pharmaceutical industries worldwide, coupled with the rising demand for oral pharmaceutical drugs, is driving the global market for drug formulations. Moreover, nano-derived lipid bilayers, nano-coated tablets, and vaccines have been created due to the combination of excipient technology with medication formulation.
We forecast that the organic chemicals in pharmaceutical excipients market sales will account for more than 57% of total sales by 2030. Due to various their abilities as antioxidants and preservatives, organic chemicals are frequently used in the food and beverage sector. Moreover, there is a rising market for foods made using softer processes like heat, sodium, sugar, and chemicals. Also, as more innovative methods to stop the spread of hazardous germs are developed, the requirement for Organic Chemicals in food applications is rising.
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Market Dynamics
Rise in Generic Drug Production and Uses Support Market Expansion
The cost savings linked to common drug use are only sometimes evident when the patent expires. The expense of a generic drug is typically 60–70% less expensive than that of a brand-name drug two–three years after the loss of exclusivity. Generic drugs, like brand-name drugs, need competition in the generic drug market before costs may be reduced. These generic medications will save a lot of money, which can be applied to other health issues, given that India has the greatest per capita spending. The use of generic medications has dramatically expanded nationwide in recent years. One of the main factors anticipated to fuel the expansion of the pharmaceutical sector is the availability of affordable alternatives to name-brand medications.
Surge in Demand for Excipients Drives the Market Growth
Excipients used in pharmaceutical dosage forms help in production, stability, prevention, support, and liquidity rather than being used directly for therapeutic purposes. Excipients play a minor role in the worldwide pharmaceutical industry's rising development. The excipient requirement has increased recently due to the rising demand for generic medicine. Furthermore, the prevalence of chronic diseases has dramatically increased. Excipients are inert chemicals used to produce pharmaceutical goods or incorporated into their dosage form, not therapeutically active medications.
Top Players in the Global Pharmaceutical Excipients Market
- Ashland Global Holdings (Wilmington)
- BASF SE (Germany)
- DuPont (Wilmington, U.S.)
- Evonik Industries AG (Essen)
- Associated British Foods (London, UK)
- Archer Daniels Midland Company (Chicago, U.S.)
- Lubrizol Corporation (U.S.)
- Croda International (Snaith)
- Kerry Group (Ireland)
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Top Trends in the Global Pharmaceutical Excipients Market
- One trend that Vantage Market Research (VMR) expects to see in the pharmaceutical excipients industry is the strategic initiatives by market players. The demand for strategic business concepts is growing along with the market for pharmaceutical excipients. It consists of collaboration, company growth, and other developments. Pharmaceutical excipients are in high demand due to the increased need for pharmaceuticals, and to meet this demand, businesses are, among other strategic activities developing new manufacturing facilities. The top market players' strategic moves, including product launches, acquisitions, partnerships, and expansion, are anticipated to spur the pharmaceutical excipients market's growth and present opportunities for the industry.
- Another trend that VMR predicts will continue in the pharmaceutical excipients industry is its increasing trend of using binders because of the introduction of new goods and the rising demand for pharmaceutical and biological medications. The pharmaceutical industry has understood that binders can help active pharmaceutical compounds perform more effectively and offer them a competitive edge. Furthermore, the need for binders is anticipated to rise along with the increase in pharmaceutical output, which is anticipated to fuel the segment's expansion.
Top Report Findings
- Based on the Product, the organic chemicals category controls most of the Pharmaceutical Excipients market's revenue. Most organic chemical-based pharmaceutical excipients comprise proteins, chemical industries, palm-based, and carbohydrates. All medicines depend on these substances to function properly and accomplish their intended effects. Growing need for drugs with fewer side effects created from land and resources. This market's growth is driven by the employment of HPMC chemical materials in the life sciences industries and the quick rise in medical drugs with an oral fixed-dose combination.
- Based on Functionality, the emulsifying agents control most of the Pharmaceutical Excipients market's revenue. Small and medium-sized businesses use emulsifiers more frequently due to growing awareness of their advantages. Algin, carrageenan, and agar are three emulsifiers made from algae that are utilized in various products. This supports the market's expansion in turn.
- Based on End Users, the oral formulation category controls most of the Pharmaceutical Excipients market's revenue. This is due to how simple it is for patients, particularly kids, to take these oral medications. Due to the increasing adoption of patient-centricity approaches by drug makers worldwide, oral dosage formats typically require more excipients than other drug forms during production.
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Recent Developments in the Global Pharmaceutical Excipients Market
- In 2020, Acryl-EZE II film coating line, introduced by Colorcon i, expands the pH range that its enteric coatings can withstand.
- in 2019, a titanium oxide-based coating for tablets called Aquarius Nutra TF was introduced by Ashland for the European market.
Oral Formulations Category of the End User Segment of the Global Pharmaceutical Excipients Market Forecast to Generate Considerable Chunk of Revenue
For better understanding, based on the End-User, the Pharmaceutical Excipients market is divided into Oral Formulations, Tablets, Capsules, Liquid Formulations, Topical Formulations, Parenteral Formulations and Other Formulations.
The Oral Formulations market was the largest by application, and it is anticipated to hold the top spot during the projected period. Their widespread application and effectiveness against different diseases serve as the main objectives. Initially, healthcare experts had recommended antiviral medications as the most reliable defense against COVID-19, particularly because of their success in treating pneumonia and other respiratory conditions caused by the virus. These medications and several other clinical orally delivered medications are frequently endorsed in large numbers and are anticipated to contribute to the market for Oral Formulations swift expansion.
On the other hand, the Tablets category is anticipated to grow significantly. Tablets are largely renowned for their cutting-edge technological capabilities, including downsizing, motion tracking, extended battery life, and appealing designs and movable screens. Tablets can perform all computer and laptop activities without a mouse or keyboard. During the anticipated period, these variables are anticipated to fuel market expansion.
Europe Region in Pharmaceutical Excipients Market Projected to Generate Nearly Half the Global Market Revenue
The Europe region is anticipated to do so in the coming years. Due to the imminent expiration of drug patents, many European nations are concentrating on the generics industry. As a result, considerable growth rates in European nations like Germany, the United Kingdom, France, and others are predicted to occur throughout the projection period. This is projected to increase demand for pharmaceutical excipients in the region. Additionally, it is projected that the market for generic medications in these nations will be driven by the expanding government initiatives for lowering the prices of the drugs on the market. The causes, as mentioned earlier, are projected to enhance the need for innovative excipients, which will help the pharmaceutical industry grow along with increased investments in the development of biologics and sophisticated dosage forms.
The Asia Pacific region is projected to develop the fastest growth in the Pharmaceutical Excipients market due to increasing demand for food and beverages with high nutritional value, growing demand for dietary supplements, and increasing health consciousness among consumers in the region. Additionally, large populations and rapidly growing economies in countries are also expected to contribute to the growth of the Pharmaceutical Excipients market in the Asia Pacific region.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Pharmaceutical Excipients Market Forecast Report (2023-2030).
Global Pharmaceutical Excipients Market Segmentation
By Product
- Organic Chemicals
- Oleochemicals
- Carbohydrates
- Petrochemicals
- Proteins
- Other Organic Chemicals
- Inorganic Chemicals
- Metal Oxides
- Halites
- Calcium Carbonate
- Calcium Sulphate
- Other Inorganic Chemicals
- Other Chemicals
By Functionality
- Fillers & Diluents
- Suspending & Viscosity Agents
- Coatings Agents
- Flavoring Agents & Sweeteners
- Disintegrants
- Colorants
- Lubricants & Glidants
- Preservations
- Emulsifying Agents
- Other Functionalities
By End User
- Oral Formulations
- Tablets
- Capsules
- Liquid Formulations
- Topical Formulations
- Parenteral Formulations
- Other Formulations
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 8.2 Billion |
| Revenue Forecast by 2030 | USD 12 Billion |
| CAGR | 5.7% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Ashland Global Holdings, BASF SE, DuPont, Evonik Industries AG, Associated British Foods, Archer Daniels Midland Company, Lubrizol Corporation, Croda International, Kerry Group |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/pharmaceutical-excipients-market-2095/request-sample |
Key Questions Answered in the Pharmaceutical Excipients Market Report are:
- What are pharmaceutical excipients, and what are their functions in drug formulation?
- What is the size of the pharmaceutical excipients market, and what are its growth prospects?
- What are the major trends and drivers in the pharmaceutical excipients market?
- What are the key challenges faced by the pharmaceutical excipients industry, and how are they being addressed?
- What are the different types of pharmaceutical excipients, and what are their applications?
- Who are the major players in the pharmaceutical excipients market, and what are their market shares?
- What are the regulatory frameworks governing the use of pharmaceutical excipients, and how are they evolving?
- What are the regional dynamics of the pharmaceutical excipients market, and what are the growth opportunities in different geographies?
- What are the key strategies adopted by companies in the pharmaceutical excipients market, such as mergers and acquisitions, partnerships, and product launches?
- What is the competitive landscape of the pharmaceutical excipients market, and how is it likely to evolve in the coming years?
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