Global Pharmaceutical Excipients Market Size By Product (Organic Chemicals, Inorganic Chemicals), By Formulation (Oral Formulations, Parenteral Formulations), By Functionality (Fillers And Diluents, Binders), By Geographic Scope And Forecast

Pharmaceutical Excipients Market size was valued at USD 8821.9 Million in 2023 and is projected to reach USD 13139.86 Million by 2031, growing at a CAGR of 6.87% from 2024 to 2031. Pharmaceutical excipients are inert substances used alongside active pharmaceutical ingredients (APIs) in drug formulations to enhance drug stability, solubility, control release, and facilitate drug delivery. They include binders, fillers, disintegrants, lubricants, preservatives, colorants, and flavorings. Their applications include tablet formulations, capsule formulations, liquid formulations, topical formulations, peripheral formulations, controlled release formulations, powder formulations, and coating applications.

Tablet formulations use binders for tablet formation and disintegrants for drug release. Capsule formulations fill and seal capsules for convenient oral dosage. Liquid formulations use solvents and suspending agents. Topical formulations maintain product stability and consistency. Parenteral formulations ensure drug solubility and compatibility with body tissues.

Controlled release formulations control drug release rates, while powder formulations use excipients for reconstitution, dispersion, and stability. Coating applications use excipients for protection, taste masking, and modified release characteristics. Overall, pharmaceutical excipients significantly contribute to the safety, efficacy, and quality of pharmaceutical products.

Global Pharmaceutical Excipients Market Dynamics

The key market dynamics that are shaping the Pharmaceutical Excipients Market include:

Key Market Drivers:

Expanding Pharmaceutical Sector

: The need for excipients is fueled by the growing pharmaceutical sector, which is being driven by the need for medications to treat a wide range of illnesses and conditions. Appropriate excipients are becoming more and more necessary as pharmaceutical companies innovate and release novel formulations.

Growing Need for Generic Drugs

: As many branded medications' patents expire, the market for generic medications is growing quickly. Excipient demand is driven by generic medication makers, who frequently look for excipients that are affordable to use in the formulation of their products.

Developments in Medication Delivery Technologies

: To improve medication stability, solubility, and bioavailability, certain excipients are needed for the creation of novel drug delivery technologies such liposomes, micelles, and nanoparticles. This stimulates excipient development innovation.

Growing Emphasis on Patient Convenience and Compliance

. As a result, patient-friendly dose forms-like transdermal patches, chewable tablets, and oral disintegrating tablets-are becoming more and more well-liked. These dosage forms are formulated with the use of excipients.

Strict Regulatory Requirements

: When it comes to the quality, safety, and effectiveness of pharmaceutical products, regulatory authorities set stringent standards. Regulations requiring excipients to adhere to them create a demand for excipients that satisfy these requirements.

Key Challenges:

Regulatory Compliance

: Strict guidelines established by numerous global health authorities must be followed by pharmaceutical excipients. Complying with these rules, which are subject to frequent updates and amendments, might provide difficulties for manufacturers of excipients.

Quality Control

: To preserve the effectiveness and security of pharmaceutical goods, it is essential to guarantee the quality, purity, and consistency of excipients. It might be difficult to maintain strict quality control throughout the manufacturing process because of things like fluctuating raw material and production circumstances.

Problems with the Global Supply Chain

: The market for pharmaceutical excipients depends on this intricate network for both raw materials and finished goods. Supply chain disruptions like raw material shortages or logistical difficulties might affect excipient availability and cost.

Compatibility and Stability

: Throughout the course of the product's shelf life, excipients must be stable and compatible with active pharmaceutical ingredients (APIs). It might be difficult to ensure stability and compatibility, especially for complex dosage forms or innovative drug formulations.

Protection of Intellectual Property

: Creating new excipients or excipient formulations frequently necessitates a large expenditure in research and development. In a market that is competitive and may see imitation or unauthorized use of proprietary excipients, protecting intellectual property rights can be difficult.

Key Trends:

Increase in Sales of Medication:

A new report released by JAMA Network indicates that public hospitals worldwide are now requiring more medications than they did prior to COVID-19. The research states that there has been an increase in the use of azithromycin, hydroxychloroquine, corticosteroids, and heparin of 11.45%, 6.14%, 24.68%, and 49.05%, respectively. The growing pharmaceutical industry and increased pharmaceutical manufacturing are driving the growth of the pharmaceutical market. For example, the 2022 report states that the pharmaceutical output in the European region was valued at EUR 286,697 million in 2020 and EUR 300 million in 2021.

Demand for Human Sourced Products:

The healthcare industry is become increasingly fond of biopharmaceuticals. This is mostly because of their remarkable similarity to biological molecules that are naturally present in the human body and offer outstanding efficiency with little side effects. They are thought to have one of the fastest growth rates among the pharmaceutical industry's segments.

Growing Demand for Biopharmaceutical Medicines:

The ability of biopharmaceutical medicines to treat illnesses that were previously thought to be incurable, together with their high efficacy and superior safety, has greatly aided in the spread of these medications throughout numerous nations. For example, a recent study on Biosimilar Development found that new candidates for biopharmaceuticals are developing in countries like China and India. It asserts that China alone is home to around 150 biomanufacturing facilities.

Focus on Convenient Oral Medications:

Creating drugs that are simpler for patients to take like chewable or orally dissolving tablets is becoming more and more important. The need for specific excipients that can help these formulations is being driven by this development.

Inlcination towards Biologics:

A class of medications derived from living things; biologics are being used to treat a wide range of illnesses. Specialized excipients that can satisfy the specific stability and distribution needs of biologics are frequently needed.

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Global Pharmaceutical Excipients Market Regional Analysis

Here is a more detailed regional analysis of the Pharmaceutical Excipients Market:

Europe

Europe holds the largest market share in Pharmaceutical Excipients Market.

The fact that Europe is home to several large pharmaceutical businesses with large production capacities is a significant contributing element. In the course of manufacturing drugs, these behemoths inherently use a large number of excipients.

Both the development of high-quality generic medications and biosimilars drugs that are comparable to name-brand biologics are priorities in Europe. Novel excipients that work well in these drugs are in high demand as a result of this focus.

North America

The area is home to several large pharmaceutical companies that have strong, well-established operations. This translates into a strong need for excipients, which are necessary components used in the production of pharmaceuticals.

Chronic conditions like diabetes and heart disease are very common in North America. This increases the requirement for excipients by requiring a steady supply of medications.

The area is a center for pharmaceutical research and development. Novel excipients are frequently needed to support this continuous innovation, which keeps the market vibrant and promotes expansion.

Global Pharmaceutical Excipients Market: Segmentation Analysis

The Global Pharmaceutical Excipients Market is Segmented on the basis of Product, Formulation, Functionality, And Geography.

Pharmaceutical Excipients Market, By Product

Organic Chemicals
Inorganic Chemicals
Others

Based on Product, the market is segmented into Organic Chemicals, Inorganic Chemicals, and Others. Organic Chemicals accounts for the largest market share over the coming years. The organic segment is expected to lead the market owing to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry.

Pharmaceutical Excipients Market, By Formulation

Oral Formulations
Parenteral Formulations
Topical Formulations
Other Formulations

Based on Formulation, the market is segmented into Oral Formulations, Parenteral Formulations, Topical Formulations, and Other Formulations. The oral formulations is projected to hold the biggest market share. Oral drug administration helps the producer with packaging and shipping while keeping the pharmaceuticals' chemical and physical stability.

Pharmaceutical Excipients Market, By Functionality

Fillers and Diluents
Binders
Suspending and Viscosity Agents
Flavoring Agents and Sweeteners
Other Functionality

Based on Functionality, the market is segmented into Fillers and Diluents, Binders, Suspending and Viscosity Agents, Flavoring Agents and Sweeteners, and Other Functionality. In 2019, Fillers and Diluents held the biggest market share. Oral drug administration helps the producer with packaging and shipping while keeping the pharmaceuticals' chemical and physical stability.

Key Players

The "Global Pharmaceutical Excipients Market" study report will provide valuable insight with an emphasis on the global market including some of the major players such as
Roquette Freres, DuPont de Nemours, Inc., BASF SE, Ashland Global Holdings, Inc., Innophos Holdings, Inc., Associated British Foods Plc, The Lubrizol Corporation, Archer-Daniels-Midland Company, Croda International Plc, Evonik Industries Ag.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Pharmaceuticals Excipients Market Recent Developments
In January 2024, BASF expanded its production capacity for cellulose-based excipients to meet the growing demand for controlled-release drug formulations.
In October 2023, Merck KGaA launched a new line of excipients for biopharmaceutical applications, highlighting the need for complex biological drugs.
In August 2023, a pharmaceutical company and excipient supplier collaborated to develop a novel excipient for taste-masking, highlighting the growing focus on patient-centric formulations.

Product Code: 25664

1 INTRODUCTION

1.1 MARKET DEFINITION
1.2 MARKET SEGMENTATION
1.3 RESEARCH TIMELINES
1.4 ASSUMPTIONS
1.5 LIMITATIONS

2 RESEARCH METHODOLOGY

2.1 DATA MINING
2.2 SECONDARY RESEARCH
2.3 PRIMARY RESEARCH
2.4 SUBJECT MATTER EXPERT ADVICE
2.5 QUALITY CHECK
2.6 FINAL REVIEW
2.7 DATA TRIANGULATION
2.8 BOTTOM-UP APPROACH
2.9 TOP DOWN APPROACH
2.10 RESEARCH FLOW
2.11 DATA SOURCES

3 EXECUTIVE SUMMARY

3.1 MARKET OVERVIEW
3.2 GLOBAL PHARMACEUTICAL EXCIPIENTS MARKET GEOGRAPHICAL ANALYSIS (CAGR %)
3.3 GLOBAL PHARMACEUTICAL EXCIPIENTS MARKET, BY PRODUCT (USD MILLION)
3.4 GLOBAL PHARMACEUTICAL EXCIPIENTS MARKET, BY FORMULATION (USD MILLION)
3.5 GLOBAL PHARMACEUTICAL EXCIPIENTS MARKET, BY FUNCTIONALITY (USD MILLION)
3.6 FUTURE MARKET OPPORTUNITIES
3.7 GLOBAL MARKET SPLIT

4 MARKET OUTLOOK

4.1 GLOBAL PHARMACEUTICAL EXCIPIENTS MARKET OUTLOOK
4.2 MARKET DRIVERS
- 4.2.1 GROWING DEMAND FOR GENERIC DRUGS
4.3 MARKET RESTRAINT
- 4.3.1 COST AND TIME-INTENSIVE DRUG DEVELOPMENT PROCESS
4.4 MARKET OPPORTUNITIES
- 4.4.1 STRONG PENETRATION OF PHARMACEUTICAL MANUFACTURING TO SEVERAL DEVELOPING COUNTRIES
4.5 IMPACT OF COVID - 19 ON PHARMACEUTICAL EXCIPIENTS MARKET

5 MARKET, BY PRODUCT

5.1 OVERVIEW
5.2 ORGANIC CHEMICALS
5.3 INORGANIC CHEMICALS
5.4 OTHERS

6 MARKET, BY FORMULATION

6.1 OVERVIEW
6.2 ORAL FORMULATIONS
6.3 TOPICAL FORMULATIONS
6.4 PARENTERAL FORMULATIONS
6.5 OTHER FORMULATIONS

7 MARKET, BY FUNCTIONALITY

7.1 OVERVIEW
7.2 FILLERS AND DILUENTS
7.3 BINDERS
7.4 SUSPENDING AND VISCOSITY AGENTS
7.5 FLAVOURING AGENTS AND SWEETNERS
7.6 OTHER FUNCTIONALITIES

8 MARKET, BY GEOGRAPHY

8.1 OVERVIEW
8.2 NORTH AMERICA
- 8.2.1 NORTH AMERICA MARKET SNAPSHOT
- 8.2.2 U.S.
- 8.2.3 CANADA
- 8.2.4 MEXICO
8.3 EUROPE
- 8.3.1 EUROPE MARKET SNAPSHOT
- 8.3.2 GERMANY
- 8.3.3 FRANCE
- 8.3.4 U.K.
- 8.3.5 REST OF EUROPE
8.4 ASIA PACIFIC
- 8.4.1 ASIA PACIFIC MARKET SNAPSHOT
- 8.4.2 JAPAN
- 8.4.3 CHINA
- 8.4.4 INDIA
- 8.4.5 REST OF ASIA PACIFIC
8.5 ROW
- 8.5.1 ROW MARKET SNAPSHOT
- 8.5.2 MIDDLE EAST & AFRICA
- 8.5.3 LATIN AMERICA

9 COMPETITIVE LANDSCAPE

9.1 OVERVIEW
9.2 COMPETITIVE SCENARIO
9.3 COMPANY MARKET RANKING ANALYSIS

10 COMPANY PROFILES

10.1 ROQUETTE FRERES
- 10.1.1 COMPANY OVERVIEW
- 10.1.2 COMPANY INSIGHTS
- 10.1.3 PRODUCT BENCHMARKING
- 10.1.4 KEY DEVELOPMENTS
- 10.1.5 SWOT ANALYSIS
10.2 DUPONT DE NEMOURS, INC.
- 10.2.1 COMPANY OVERVIEW
- 10.2.2 COMPANY INSIGHTS
- 10.2.3 SEGMENT BREAKDOWN
- 10.2.4 PRODUCT BENCHMARKING
- 10.2.5 KEY DEVELOPMENTS
- 10.2.6 SWOT ANALYSIS
10.3 BASF SE
- 10.3.1 COMPANY OVERVIEW
- 10.3.2 COMPANY INSIGHTS
- 10.3.3 SEGMENT BREAKDOWN
- 10.3.4 PRODUCT BENCHMARKING
- 10.3.5 SWOT ANALYSIS
10.4 ASHLAND GLOBAL HOLDINGS, INC.
- 10.4.1 COMPANY OVERVIEW
- 10.4.2 COMPANY INSIGHTS
- 10.4.3 SEGMENT BREAKDOWN
- 10.4.4 PRODUCT BENCHMARKING
- 10.4.5 KEY DEVELOPMENTS
10.5 INNOPHOS HOLDINGS, INC.
- 10.5.1 COMPANY OVERVIEW
- 10.5.2 COMPANY INSIGHTS
- 10.5.3 SEGMENT BREAKDOWN
- 10.5.4 PRODUCT BENCHMARKING
- 10.5.5 KEY DEVELOPMENTS
10.6 ASSOCIATED BRITISH FOODS PLC
- 10.6.1 COMPANY OVERVIEW
- 10.6.2 COMPANY INSIGHTS
- 10.6.3 SEGMENT BREAKDOWN
- 10.6.4 PRODUCT BENCHMARKING
10.7 THE LUBRIZOL CORPORATION
- 10.7.1 COMPANY OVERVIEW
- 10.7.2 COMPANY INSIGHTS
- 10.7.3 PRODUCT BENCHMARKING
- 10.7.4 KEY DEVELOPMENTS
10.8 ARCHER-DANIELS-MIDLAND COMPANY
- 10.8.1 COMPANY OVERVIEW
- 10.8.2 COMPANY INSIGHTS
- 10.8.3 SEGMENT BREAKDOWN
- 10.8.4 PRODUCT BENCHMARKING
10.9 CRODA INTERNATIONAL PLC
- 10.9.1 COMPANY OVERVIEW
- 10.9.2 COMPANY INSIGHTS
- 10.9.3 SEGMENT BREAKDOWN
- 10.9.4 PRODUCT BENCHMARKING
- 10.9.5 KEY DEVELOPMENTS
10.10 EVONIK INDUSTRIES AG
- 10.10.1 COMPANY OVERVIEW
- 10.10.2 COMPANY INSIGHTS
- 10.10.3 SEGMENT BREAKDOWN
- 10.10.4 PRODUCT BENCHMARKING
- 10.10.5 KEY DEVELOPMENTS