Westford USA, May 01, 2023 (GLOBE NEWSWIRE) -- The global Pharmaceutical Excipients market size is expected to reach USD 12.22 billion by 2030 and exhibit a CAGR of 5.52% in the forecast period (2022−2030), according to Skyquest's latest research report. The rising prevalence of chronic and lifestyle diseases in the world as well as significant investments made by the pharmaceutical industry in the development of biologics, are expected to have a significant impact on the growth of the market
Government Initiatives and Trends to Promote the Use of Pharmaceutical Excipients
At a global scale, several trends are promoting the growth of Pharmaceutical Excipients. The Increasing demand for functional XP and means and modified release formulations, growing preference for natural and plant-based excipients, are promoting and enhancing market growth. Modified release formulations are becoming more popular, as they can improve patient compliance and reduce dosing frequency.
The European Union has initiated the Innovative Medicines Initiative (IMI), a public-private partnership that funds research projects to improve drug development, including developing new excipients.
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Pharmaceutical Fillers Type Demand to Grow Substantially in the Forecast Period
Pharmaceutical Fillers Type dominated the global market owing to the demand for a popular filler, microcrystalline cellulose (MCC). The increasing demand for generic drugs, the rising geriatric population, and the increasing prevalence of chronic diseases are also driving the growth of the pharmaceutical fillers segment
Oral Solid Dosage Form is the Leading Formulation Segment
In terms of formulation, the oral solid dosage form segment is the leading segment as they serve several functions, including binding the active pharmaceutical ingredient (API) into a tablet or capsule. In addition, it improves the flow of powders during manufacturing, enhancing the final product's taste and appearance.
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North America and Asia-Pacific are the leading Markets for Using Clean Energy
Region-wise, North America is one of the largest growing markets with a huge emphasis on R&D investments in the pharmaceutical industry. The region is home to many of the leading pharmaceutical companies in the world, which creates a significant demand for pharmaceutical excipients. The US FDA's Quality by Design (QbD) initiative has also played a crucial role in driving the growth of the pharmaceutical excipients market in North America. The initiative emphasizes the importance of using high-quality excipients in drug formulations to improve the safety and efficacy of medications.
Asia-Pacific region is projected to be the fastest-growing market due to the large and growing population, rising demand for pharmaceutical products, and increasing investments in the healthcare sector
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Pharmaceutical Excipients Market Report Suggests:
- The global market size is projected to grow by 12.22 billion by 2030 due to the rising prevalence of chronic disease.
- In terms of formulation, the oral solid dosage form segment dominates as it serves several vital functions
- In terms of type, the pharmaceutical fillers type segment is projected to gain more popularity due to the demand for several popular fillers.
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due presence of major market players
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Pharmaceutical Excipients Market Segmentation:
The global Pharmaceutical Excipients market report is segmented based on Product type, functionality, formulation, and region.
By Type
Organic excipients
- Carbohydrates
- Proteins
- Lipids
- Others (such as amino acids and organic acids)
Inorganic excipients
- Metallic oxides
- Calcium carbonates
- Others (such as silica, magnesium stearate, and talc)s
Functionality
- Binders
- Fillers and diluents
- Disintegrants
- Lubricants and glidants
- Coatings
- Flavoring agents and sweeteners
- Preservatives
- Others (such as antioxidants, emulsifiers, and solubilizers)
Formulation
- Oral solid dosage forms (such as tablets and capsules)
- Topical formulations (such as creams and ointments)
- Parenteral formulations (such as injections and infusions)
- Other formulations (such as inhalation and nasal formulations)
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
Pharmaceutical Excipients Market Major Company Profiles:
- Ashland Global
- BASF SE
- DowDuPont Inc.
- Evonik Industries AG
- Croda International Plc
- Lubrizol Corporation
- Roquette Freres
- Innophos Holdings Inc.
- Archer Daniels Midland Co.
- Cargill Inc.
- Kerry Group
- AkzoNobel N.V.
- P&G Chemicals
- Clariant AG
- Wacker Chemie AG
- Colorcon Inc.
- Merck KGaA
- Chemische Fabrik Budenheim KG
- JRS Pharma
- Shin-Etsu Chemical Co. Ltd.
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