New York, United States , June 24, 2024 (GLOBE NEWSWIRE) -- The Global Pharmaceutical Excipients Market Size is to Grow from USD 9.56 Billion in 2023 to USD 18.01 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.54% during the projected period.
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Medication formulations are created by combining active pharmaceutical ingredients (APIs) with inert chemicals known as pharmaceutical excipients. Among other benefits, they enhance medicine distribution and increase patient acceptability. They also improve the bioavailability, solubility, and stability of drugs. Excipients come in a variety of forms; these include lubricants, coatings, dissolves, binders, fillers, and preservatives. Among the numerous excipients used in the production of soft gel, hard capsules, ointments, solvents, and other products are gelatin and polyethylene glycol. Additionally, excipients known as sweeteners are commonly added to pharmaceutical dosages to increase the drug's accessibility and disguise the flavor of the partially dissolved medication. Increased investment in research & development to create novel excipients, a growing demand for generic drugs and products, and a greater emphasis on patient-centric formulations have all contributed to the growth of the pharmaceutical excipient market. Furthermore, the lengthy and expensive processes of developing new drugs, as well as the increasingly stringent regulations governing the approval of pharmaceuticals and excipients, are only two of the main barriers that could prevent the market from getting more profitable.
Browse key industry insights spread across 230 pages with 110 Market data tables and figures & charts from the report on the "Global Pharmaceutical Excipients Market Size, Share, and COVID-19 Impact Analysis, By Product (Inorganic Chemicals, Organic Chemicals), By Formulation (Tablets Formulation, Capsules Formulation, Parenteral Formulation, Liquid Formulation, Oral Formulation, and Others), By Functionality (Binders, Fillers & Diluents, Suspending and Viscosity Agent, Preservatives, Flavoring Agents and Sweeteners, Coating Agents, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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The organic chemicals segment is anticipated to hold the largest share of the pharmaceutical excipients market during the projected timeframe.
Based on the product, the global pharmaceutical excipients market is divided into inorganic chemicals and organic chemicals, and others. Among these, the organic chemicals segment is anticipated to hold the largest share of the pharmaceutical excipients market during the projected timeframe. Organic pharmaceutical excipients derived from natural sources such proteins, carbohydrates, and plant-based polymers are in high demand due to consumers growing inclination towards natural and organic products.
The oral formulation segment is anticipated to grow at the fastest pace in the pharmaceutical excipients market during the projected timeframe.
Based on the formulation, the global pharmaceutical excipients market is divided into tablets formulation, capsules formulation, parenteral formulation, liquid formulation, oral formulation, and others. Among these, the oral formulation segment is anticipated to grow at the fastest pace in the pharmaceutical excipients market during the projected timeframe. Patients prefer oral forms since they are easier to use and guarantee exact dosage, such as pills and capsules. Excipients are crucial to the formulation process because they help make solid dosage forms that are palatable and provide a controlled release of the active pharmaceutical ingredient (API). This enhances the level of patient adherence.
The binder’s segment is predicted to grow at the largest revenue share in the pharmaceutical excipients market during the estimated period.
Based on the functionality, the global pharmaceutical excipients market is divided into binders, fillers & diluents, suspending and viscosity agent, preservatives, flavoring agents and sweeteners, coating agents, and others. Among these, the binders segment is predicted to grow at the largest revenue share in the pharmaceutical excipients market during the estimated period. Enhancing the compound holding capacity of tablets and granules is largely dependent on the use of binders. Depending on the components in the formulation and the method used to create the dosage form, the binder can be utilized in either a solution or a dry state.
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Asia Pacific is expected to hold the largest share of the global pharmaceutical excipients market over the forecast period.
Asia Pacific is expected to hold the largest share of the global pharmaceutical excipients market over the forecast period. Because of these countries' cost advantages, pharmaceutical companies have made significant investments there. The growing prevalence of ailments linked to aging and lifestyle choices, rising disposable income, and government initiatives to upgrade healthcare facilities are all factors contributing to the region's robust market growth. Two significant variables that can drive the pharmaceutical excipients business are the low cost of raw materials and the low cost of labor in the region. There are a ton of prospects for market expansion from countries like China and India soon.
Europe is predicted to grow at the fastest pace in the global pharmaceutical excipients market during the projected timeframe. The region's company usage is increasing, primarily as a result of the entry of big pharmaceutical businesses with extensive production capabilities. Excipient usage is increasing as a result of the pharmaceutical industry's growing reliance on biosimilar, generic medications, and innovative pharmaceuticals. This has led to a need for innovative excipient substances.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global pharmaceutical excipients market include Lubrizol Corporation, Avantor Performance Materials, LLC., Valeant, Ashland Inc., The Dow Chemical Co., Eastman Chemical Corporation, Univar Solutions Inc., Evonik Industries AG, Roquette Group, Signet Chemical Corporation Pvt. Ltd, P&G Chemicals, Finar Limited, Wacker Chemie AG, FMC Corporation, and Others.
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Recent Developments
- In October 2023, Clariant Chemicals, an Indian company, has announced plans to introduce three new excipients to its VitiPure range.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global pharmaceutical excipients market based on the below-mentioned segments:
Global Pharmaceutical Excipients Market, By Product
- Inorganic Chemicals
- Organic Chemicals
Global Pharmaceutical Excipients Market, By Formulation
- Tablets Formulation
- Capsules Formulation
- Parenteral Formulation
- Liquid Formulation
- Oral Formulation
- Others
Global Pharmaceutical Excipients Market, By Functionality
- Binders
- Fillers & Diluents
- Suspending and Viscosity Agent
- Preservatives
- Flavoring Agents and Sweeteners
- Coating Agents
- Others
Global Pharmaceutical Excipients Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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