The Global Pharmaceutical Excipients Market is projected to witness a CAGR of 9.17% during the forecast period to reach a total market size of US$10.711 billion by 2027, increasing from US$5.795 billion in 2020.
Excipients are the pharmacologically inactive substances added along with the active drug substance to streamline the manufacture of the drug product and aid in lubricity, flowability, disintegration, taste, and may confer some form of antimicrobial function also facilitating physiological absorption of the drug. Some of the excipients used in pharmaceutical industries include fillers, binders, lubricants, flavoring agents, sweeteners, chelating agents, solvents, co-solvents, etc. To provide the bulk finished dosage formulations consistent in physical and chemical, the formulator is highly dependent on the pharmaceutical excipients.
Tablets, capsules, oral liquids, topical creams and gels, implants, eye products, injectable products, inhalers, transdermal patches, and suppositories are some of the dose forms available. Pharmaceutical excipients are used in pharmaceutical dosage forms to help the production process, protect, support, or increase stability.
Cancer, chronic lung disease, stroke, diabetes, and other chronic illnesses are today's leading causes of mortality and disability. In the United States alone, six out of ten individuals suffer from a chronic illness, needing frequent medication. According to International Diabetes Federation (IDF), Approximately 463 million adults (20-79 years) were living with diabetes in 2019; by 2045, this will rise to 700 million, indicating a high demand for medication and thus Pharmaceutical Excipients.
Increasing in research and development (R&D)
Increased research and development in pharmaceutical formulations employ multi-functional excipients to improve the manufacturing process and product quality. Excipients play a crucial role in assisting pharmaceutical makers in providing improved patient support by enhancing compliance and treatment efficacy.
With increasing chronic diseases, the growing generics market leads to an increase in the development of excipients is the major factor driving the market growth. With the advancement of drug development, there is an increase in pharmaceutical excipients.
Pharmaceutical Excipients require mandatory inspections by the regulatory authorities of the manufacturing site. The industry lacks separate guidelines for approval and manufacturing of excipients is impending R&D initiatives related to excipients. If a new drug approval fails, the excipient also fails, even if it is not related to the excipient. Moreover, a considerable amount of time and cost goes into creating an excipient.
Impact of COVID–19 on the Pharmaceutical Excipients Market:
Pharmaceutical Excipients have seen growth during the pandemic not just to treat COVID-19 patients worldwide but also to make vaccines for COVID-19. Drugs like hydroxychloroquine and Remdesivir showed positive results against the virus. They were high in demand during the COVID-19 peaks. With the approval of various WTO vaccines, production has increased to the fullest capacity, causing an increase in the demand for Pharmaceutical Excipients.
To name a few market players for the Global Pharmaceutical Excipients Market are Ashland Global Holdings, DuPont, BASF SE, Roquette Feres, Evonik Industries AG, and Croda International, amongst others. The players in the market implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage over their competitors. For instance,
|Market size value in 2020||US$5.795 billion|
|Market size value in 2027||US$10.711 billion|
|Growth Rate||CAGR of 9.17% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Excipient Type, Formulation Type, Functionality, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Ashland Global Holdings, DuPont, BASF SE, Roquette Feres, Evonik Industries AG, Croda International, Associated British Foods, Archer Daniels Midland Company, Lubrizol Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the pharmaceutical excipients market size by 2027?
A1. The global pharmaceutical excipients market is projected to reach a market size of US$10.711 billion by 2027.
Q2. What is the size of the global pharmaceutical excipients market?
A2. Pharmaceutical Excipients Market was valued at US$5.795 billion in 2020.
Q3. What are the growth prospects for the pharmaceutical excipients market?
A3. The pharmaceutical excipients market is projected to grow at a CAGR of 9.17% over the forecast period.
Q4. How is the global pharmaceutical excipients market segmented?
A4. The pharmaceutical excipients market has been segmented by excipient type, formulation type, functionality, distribution channel, and geography.
Q5. What factors are anticipated to drive the pharmaceutical excipients market growth?
A5. With increasing chronic diseases, the growing generics market leads to an increase in the development of excipient is the major factor driving the pharmaceutical excipients market growth.
Ashland Global Holdings
Evonik Industries AG
Associated British Foods
Archer Daniels Midland Company
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