Dublin, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The "Pharmaceutical Excipients Market by Product (Organic Chemicals (Carbohydrates), Inorganic Chemicals (Calcium Phosphate)), Functionality (Fillers, Binders, Lubricants, Preservatives), Formulation (Tablets, Capsules, Parenteral) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The pharmaceutical excipients market is projected to reach USD 11.5 Billion by 2027 from USD 8.6 Billion in 2022, at a CAGR of 5.9% during the forecast period.
The growth can be attributed to the expanding pharmaceutical industry which has fueled the drug production thereby increasing consumption rate for excipients. Additionally, factors like functional excipients development and upsurge in generics market is also likely to propel market growth.
The fillers & diluents functionality accounted for the largest share of the market in 2021
The fillers and diluents market is expected to grow due to the rising use of fillers and diluents in developing and producing solid oral drugs. From the manufacturer's perspective, fillers and diluents offer stability and ease in preparation, packaging, shipping, and dispensing; for patients, they improve the taste of the formulation and provide ease of administration and handling (of the drug).
The oral formulations accounted for the major share of the pharmaceutical excipients market in 2021
The rapidly growing biopharmaceutical industry and increased generics production are the key growth drivers for this segment growth. Furthermore, the oral route of administration is the most common and traditional route for drug delivery. This has also boosted the segment market growth.
Asia Pacific: The fastest-growing region in the pharmaceutical excipients market
The Asia Pacific market is expected to register the highest CAGR during the forecast period. Some of the major factors contributing to the growth of the Asia Pacific market are low-cost manufacturing advantage, increasing per capita income, and low regulatory stringency that support the growth of the pharmaceutical excipients market in the region.
Premium Insights
- Growing Pharmaceuticals Industry, Coupled with Advancements in Functional Excipients, are Key Factors Driving Market Growth
- Oral Formulations Accounted for the Largest Share of the Asia-Pacific Market in 2021
- Organic Chemicals Segment Will Continue to Dominate the Market in 2027
- Oral Formulations Segment to Account for the Largest Market Share in 2022
- Asia-Pacific Countries to Show the Highest Growth During the Forecast Period
Market Dynamics
Drivers
- Growth of the Pharmaceuticals Market Backed by Functional Excipients
- Surge in the Generics Market
- Increasing Uptake of Biopharmaceuticals
- Rising Adoption of Orphan Drugs
Restraints
- Cost and Time-Intensive Drug Development Process
- Increasing Regulatory Stringency
Opportunities
- Multifunctional Excipients
- Shifting Focus of Pharmaceutical Manufacturing to Emerging Countries
- Growth in the Biosimilars Market
Challenges
- Safety and Quality Concerns
- Changing Trade Policies
Industry Trends
- Rising Demand for Co-Processed Excipients
- Marketed Co-Processed Excipients
- Improving Excipient Capabilities Using Nanotechnology
- Increasing Use of Direct Compression in Oral Dosage Formulations
- Pharmaceutical Excipients Influencing the Cost of Production
Trends/Disruptions Impacting Customer's Business
- Revenue Shift and New Pockets for Pharmaceutical Excipients Providers
Trade Data
- Sucrose
- Prepared Binders for Molds/Cores, Chemical Products, and Preparation for Chemical Industries
- Mannitol (Acyclic Alcohols & Their Derivatives)
- Cellulose
Company Profiles
Key Players
- International Flavors & Fragrances Inc.
- Ashland Global Holdings Inc
- Evonik Industries Ag
- Basf Se
- Kerry Group plc
- Roquette Freres
- Merck KGaA
- Associated British Foods plc
- Archer Daniels Midland (Adm) Company
- Wacker Chemie Ag
- Air Liquide Sa
- Dow Chemicals
Other Players
- Lubrizol Corporation
- Colorcon, Inc
- Dmv-Fonterra Excipients GmbH & Co. Kg
- Innophos Holdings, Inc
- Jrs Pharma GmbH & Co. Kg
- Finar Limited
- Meggle GmbH & Co. Kg
- Fuji Chemical Industries Co. Ltd.
- Captisol
- Ideal Cures Pvt. Ltd.
- Corel Pharma Chem
- Biogrund GmbH
- Nitika Pharmaceutical Specialties Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/jv1mfr
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