Westford, USA, Sept. 26, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Pharmaceutical Excipients Market will attain the value of USD 17.13 Billion by 2031, with a CAGR of 6.8% during the forecast period (2024-2031). The increasing prevalence of chronic lifestyle diseases across the globe, coupled with huge investments by pharmaceutical companies in biopharmaceuticals, is expected to significantly impact the growth of the global market during the forecast period. Furthermore, the company is expected to have widespread adoption of pharmaceuticals in many developing countries promising expansion opportunities over time.
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Pharmaceutical Excipients Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 10.12 Billion |
| Estimated Value by 2031 | USD 17.13 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Functionality, Formulation, Functionality Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Rising Demand for Pharmaceutical and Biopharmaceutical Medications |
| Key Market Drivers | Increase in Excipient Demand |
Pharmaceutical Excipients Market Segmental Analysis
Global Pharmaceutical Excipients Market is segmented on the basis of product, formulation, functionality, functionality application, and region.
By product, market is segmented into organic chemicals, inorganic chemicals, other chemicals.
By functionality, market is segmented into fillers & diluents, suspending & viscosity agents, coating agents, binders, flavoring agents & sweeteners, disintegrants, colorants, lubricants & glidants, preservatives, emulsifying agents, other functionalities.
By functionality application, market is segmented into stabilizers, taste masking, modified release, solubility & bioavailability enhancement, other functionality applications.
By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Oral Pharmaceuticals Segment to Dominate Due to Increase Productivity
In 2023, oral pharmaceuticals held the largest market share and dominated the market. The most popular route of administration is oral medication, which expands the area at the time of administration. Pharmaceutical industries are dominating the market due to increase productivity. The expansion of oral and pharmaceutical formulations is characterized by revolutionary dosage forms and permanent feeder formulations.
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Fillers and Diluents Segment to Drive Market Due to Widespread Use of Low-cost Treatments
The fillers and diluents segment are expected to exhibit the highest CAGR during the forecast period. Oral medicines improve the chemical and physical stability of the medicines and give the manufacturer an advantage in terms of packaging and transportation. The industry is growing due to widespread use of low-cost treatments. Diluents and fillers are used to increase and modify the weight of the oral solid dosage form and reduce errors in weight conversion. Various applications of excipients such as high compressibility, dosage accuracy, and maintenance of viscous materials flow characteristics are driving the global market expansion especially chewable tablets for children of mannitol are constantly being produced.
North America is Growing Due to Increase in R&D Investment
North America currently holds the largest market share for pharmaceutical excipients and is likely to continue through a similar trend during the forecast period. Key players in industry and technological advancement, increase in R&D investment is expected to drive market growth. The growth of the market is also accelerated by the introduction of technologically advanced or high-quality consumer products. For example, Lubrizol Life Science (LLS) Health, one of the world leaders in rapid growth and innovation in clinical research, introduced Episolec in May 2022. Thus, the aforementioned factors are expected to support the market expansion in the North America region.
Drivers
- Increasing Demand for Functionality Excipients
- Patents Expiries Driving Demand for Pharmaceutical Excipients
- Rapid Advancements in Nanotechnology
Restraints
- Lack of Proper Approval Process
- Adverse Reactions of Excipients
- Contamination in Formulations
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Prominent Players in Pharmaceutical Excipients Market
- BASF SE (Germany)
- Ashland Inc. (US)
- Evonik Industries AG (Germany)
- Kerry Group PLC (Ireland)
- Roquette Frères (France)
- Merck KGaA (Germany)
- Associated British Foods PLC (UK)
- ADM (US)
- Wacker Chemie AG (Germany)
- Air Liquide (France)
- Dow (US)
- Lubrizol Corporation (Berkshire Hathaway) (US)
- Colorcon (US)
- DFE Pharma (Germany)
- Innophos (US)
- J. Rettenmaier & Söhne GmbH + Co KG (Germany)
- Actylis (US)
- Meggle GmbH & Co. KG (Germany)
- Fuji Chemical Industries Co., Ltd. (Japan)
- Corel Pharma Chem (India)
- Biogrund GmbH (Germany)
- Nitika Pharmaceutical Specialties Pvt. Ltd. (India)
- R.T. Vanderbilt Holding Company, Inc. (US)
- Beneo (Germany)
Key Questions Answered in Pharmaceutical Excipients Market Report
- How big is the global Pharmaceutical Excipients Market?
- What are the key restraints of the global Pharmaceutical Excipients Market size?
- Which is the dominating region in the global Pharmaceutical Excipients Market?
This report provides the following insights:
Analysis of key drivers (increasing demand for functionality excipients, recent patents expiries driving the demand for pharmaceutical excipients), restraints (h adverse reactions of excipients, contamination in formulations), opportunities (rising demand for pharmaceutical and biopharmaceutical medications) influencing the growth of Pharmaceutical Excipients Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Pharmaceutical Excipients Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Pharmaceutical Excipients Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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