PUBLISHER: The Business Research Company | PRODUCT CODE: 1429602
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429602
Pharmaceutical Excipients Global Market Report 2024
Pharmaceutical excipients are non-active pharmaceutical ingredients (API) that form part of a drug delivery system and have undergone rigorous safety evaluations. While not possessing inherent activity, these excipients play a crucial role in facilitating the administration of the drug in the correct form and supporting its mode and site of action.
Pharmaceutical excipients come in various types, with the primary categories being inorganic chemicals, organic chemicals, and others. The pharmaceutical inorganic chemical sector focuses on the manufacturing, physical or chemical characteristics, assay techniques, and applications of inorganic substances used as pharmaceutical aids, treatments, and diagnostics. These excipients serve different functionalities, including but not limited to fillers and diluents, suspending and viscosity agents, coating agents, flavoring agents, sweeteners, disintegrants, colorants, lubricants, glidants, and others. Additionally, they are utilized in diverse formulations such as oral, topical, and parental formulations.
The pharmaceutical excipients market research report is one of a series of new reports from The Business Research Company that provides pharmaceutical excipients market statistics, including pharmaceutical excipients industry global market size, regional shares, competitors with a pharmaceutical excipients market share, detailed pharmaceutical excipients market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical excipients industry. This pharmaceutical excipient market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The pharmaceutical excipients market size has grown strongly in recent years. It will grow from $9728.83 billion in 2023 to $10378.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The expansion observed in the past period can be ascribed to robust economic development in emerging markets, an upswing in the market for generic drugs, and the increasing establishment of advanced healthcare infrastructure.
The pharmaceutical excipients market size is expected to see strong growth in the next few years. It will grow to $13399.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated expansion in the upcoming period is linked to government initiatives, a heightened development of innovative drugs, escalating healthcare expenditure, and a swift rise in the elderly population, all of which will propel market growth. Key trends projected for the forecast period involve an emphasis on sustainable packaging to diminish plastic usage, concentration on mergers and acquisitions to fortify market standing, a focus on minimizing greenhouse gas emissions, and the utilization of artificial intelligence to monitor nutrients, water levels, and enhance transparency in supply chains.
The global upswing in generic drug sales has played a pivotal role in the expansion of the pharmaceutical excipients market. Generic drugs serve as alternatives to branded medications, maintaining the same dosage form, safety, strength, route of administration, and quality. India, as noted by the India Brand Equity Foundation (IBEF), stands out as the largest contributor to generic medicines globally, with its generic drugs constituting 20% of the total global exports in this category. Notably, Indian pharmaceutical companies secured 300 approvals for generic drugs in the USA, further fueling the pharmaceutical excipients market due to increased demand for generic drugs.
The upsurge in the sales of biologics is anticipated to drive the pharmaceutical sterility testing market. Biologics encompass medicines derived from living organisms, encompassing a range of products such as vaccines, blood components, allergenics, somatic cells, gene therapies, tissues, and recombinant therapeutic proteins. In the context of biologics, pharmaceutical excipients play a crucial role in enhancing stability, refining formulation, and ensuring the optimal delivery of active biological agents. For instance, in 2023, as reported by the Government of Canada, biologics sales surpassed $11 billion in Canada, highlighting the significant impact on the pharmaceutical excipients market attributed to the increased sales of biologics.
The growing emphasis on research and development in pharmaceutical formulation, aimed at improving production processes and product quality through the utilization of multi-functional excipients, is a notable trend influencing the market. Excipients play a crucial role in enabling pharmaceutical manufacturers to better support patients by enhancing compliance and treatment effectiveness. An illustrative example is Evonik's recent introduction of EUDRAGIT FS 100, a solid iteration of the existing EUDRAGIT FS 30 D. This innovative multi-functional version opens up new possibilities for pharmaceutical companies, allowing the polymer to be used in various applications such as hot-melt extrusion, solvent spray-drying, and solvent coating. Such applications were previously unattainable when only the aqueous version was available.
Key players in the pharmaceutical excipient market are introducing advanced excipients such as Apisolex to streamline manufacturing processes and minimize losses of active pharmaceutical ingredients (APIs). Apisolex, an innovative solubility-enhancing excipient technology, addresses and overcomes solubility challenges. In a notable example from March 2022, Lubrizol Life Science (LLS) Health, a pharmaceutical contract development and drug product manufacturing organization based in the US, launched Apisolex to enhance solubility and simplify the manufacturing of parenteral drug products. This excipient can significantly increase solubility, support high drug loading, and optimize manufacturing by reducing API loss and ensuring efficient encapsulation.
In July 2021, Philip Morris International, a US-based cigarette and tobacco manufacturing company, acquired Fertin Pharma for $820 million. This acquisition positions PMI to enhance its capabilities in developing, formulating, and marketing both existing and new smoke-free platforms. Fertin Pharma, based in Denmark, specializes in the manufacture of pharmaceutical excipients.
Major companies operating in the pharmaceutical excipients market report are BASF SE, Ashland Global Holdings, Evonik Industries AG, International Flavors & Fragrances, Inc., Roquette Freres, Archer Daniels Midland Company, Lubrizol Corporation, Croda International PLC, Kerry Group, DuPont de Nemours, Inc., Sun Pharmaceuticals Industries Ltd., Cipla Ltd., Amster Microcell Private Limited, Finar Limited, P. D. Polychem Private Limited, CAD Pharma Inc., Maas Pharma Chemicals, Aeon Procare Private Limited, CSPC Pharmaceutical Group Ltd., Allen & Hanburys Ltd., Actelion Pharmaceuticals UK Ltd., Colorcon, MEGGLE GmbH & Co. KG, Boehringer Ingelheim International GmbH, Alexion Pharma, DMV-Fonterra Excipients GmbH & Co. KG, Alpen Pharma AG, Avantor Inc., JRS PHARMA GmbH & Co. KG, The Dow Chemical Co, Pfizer, AbbVie Inc., EMS Pharma, Biolab Farmaceutica, Medist FZE, W.R. Grace, Univar Solutions, Nitika Pharma, DFE Pharma, Cargill, Sensient Pharma.
North America is the largest region in the pharmaceutical excipients market in 2023. Middle East is expected to be the fastest growing region in the global pharmaceutical excipients market share during the forecast period. The regions covered in the pharmaceutical excipients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the pharmaceutical excipients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The pharmaceutical excipients market consists of sales of microcrystalline cellulose, stearic acid, gelatin, and tartaric acid. Values in this market are 'factory gate values,' that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
1. Executive Summary
2. Pharmaceutical Excipients Market Characteristics
3. Pharmaceutical Excipients Market Trends And Strategies
4. Pharmaceutical Excipients Market - Macro Economic Scenario
- 4.1. Impact Of High Inflation On The Market
- 4.2. Ukraine-Russia War Impact On The Market
- 4.3. COVID-19 Impact On The Market
5. Global Pharmaceutical Excipients Market Size and Growth
- 5.1. Global Pharmaceutical Excipients Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
6. Pharmaceutical Excipients Market Segmentation
7. Pharmaceutical Excipients Market Regional And Country Analysis
8. Asia-Pacific Pharmaceutical Excipients Market
9. China Pharmaceutical Excipients Market
10. India Pharmaceutical Excipients Market
11. Japan Pharmaceutical Excipients Market
12. Australia Pharmaceutical Excipients Market
13. Indonesia Pharmaceutical Excipients Market
14. South Korea Pharmaceutical Excipients Market
15. Western Europe Pharmaceutical Excipients Market
16. UK Pharmaceutical Excipients Market
17. Germany Pharmaceutical Excipients Market
18. France Pharmaceutical Excipients Market
19. Italy Pharmaceutical Excipients Market
20. Spain Pharmaceutical Excipients Market
21. Eastern Europe Pharmaceutical Excipients Market
22. Russia Pharmaceutical Excipients Market
23. North America Pharmaceutical Excipients Market
24. USA Pharmaceutical Excipients Market
25. Canada Pharmaceutical Excipients Market
26. South America Pharmaceutical Excipients Market
27. Brazil Pharmaceutical Excipients Market
28. Middle East Pharmaceutical Excipients Market
29. Africa Pharmaceutical Excipients Market
30. Pharmaceutical Excipients Market Competitive Landscape And Company Profiles
31. Pharmaceutical Excipients Market Other Major And Innovative Companies
32. Global Pharmaceutical Excipients Market Competitive Benchmarking
33. Global Pharmaceutical Excipients Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pharmaceutical Excipients Market
35. Pharmaceutical Excipients Market Future Outlook and Potential Analysis
36. Appendix
