Pharmaceutical Excipients Market Players 2023: Size, Share, Analysis and Forecast-2030
Pharmaceutical Excipients Market
The Pharmaceutical
Excipients Market will witness a CAGR of 7.89 %, along with a value of USD 9.35 billion by 2030 in the forecast period.
The pharmaceutical
excipients market refers to the market for inactive ingredients used in the
formulation of pharmaceutical drugs. Excipients play a critical role in the
development and manufacture of drugs, helping to ensure the safety, efficacy,
and stability of medications.
The global pharmaceutical excipients market has been steadily
growing in recent years, driven by factors such as the increasing demand for
generic drugs, the growing prevalence of chronic diseases, and the rising use
of orally disintegrating tablets and other advanced drug delivery systems.
Additionally, the growth of biopharmaceuticals and the increasing adoption of
nanotechnology in drug delivery are also contributing to the growth of the
excipients market.
Some of the most commonly used pharmaceutical excipients include
binders, diluents, disintegrants, lubricants, and preservatives. These
excipients help to facilitate the manufacturing and processing of drugs, as
well as improve their stability, solubility, and bioavailability.
Excipients used in the manufacturing of drug serve as binders, disintegrants,
glidants, or diluents. Therefore, multifunctional excipients can reduce the
manufacturing cost and drug development of the product.
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Major Key
Players:
Some of the Pharmaceutical Excipients Market Players are Evonik Industries
Ag, Basf Se, Ferro Corporation, P&G Chemicals, Akzo Nobel
NV, FMC Corporation, The Dow Chemical Company, Ashland, Inc., Croda
International PLC
Segment Analysis
The global market for pharmaceutical binders can be segmented
on the basis of product, functions, applications, and region.
The market has been segmented into organic and inorganic
chemicals based on product.
The market has been segmented into glidants, lubricants,
fillers, coatings, preservatives, disintegrants, binders, and others on the
based on functions. Fillers have been accounted to hold the largest market
share. They provide ease of administration and improve the taste of the
formulation. They also offer ease in preparation, stability, shipping,
packaging, and dispensing of drugs.
The market for pharmaceuticals excipients has also been
segmented into parenteral, oral, topical, and advanced delivery system based on
applications. Oral and topical dosage forms are anticipated to drive the
pharmaceuticals excipients market growth. Consumption of excipients is
witnessed to be high in oral dosage forms like capsules, tablets, and liquids,
compared to parenteral. Local players mark their entry in pharmaceuticals with
oral dosage forms as they are easier to manufacture. Also, with increasing
topical solutions such as gel, cream, skin patch, and eye drops in pain
management and dermatology, demand for excipients is also expected to grow at a
steady pace.
Regional
Analysis
North America has been
anticipated to hold the largest market share and is expected to grow over the
forecast period. The major factor for growth in this region is due to the
presence of European Medicines Agency’s scientific guidelines on excipients.
North America is followed by
Europe due to the presence of large companies such as FMC Corporation and
Avantor Performance Materials Inc. who are direct manufacturers. This region is
expected to showcase a significant growth owing to the ongoing case studies
based on drug-excipient interactions to increase delivery efficacy and
efficiency.
Due to the high volume of unmet
medical requirement and expanding generic market, Asia Pacific along with
Middle East and Africa are anticipated to grow at a faster pace. Moreover,
these regions are a good source of raw materials and enable low-cost
manufacturing process for excipients.
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