Global Pharmaceutical Excipients Market - Wishtree Insight

Global pharmaceutical excipients Market by Type (Organic Chemicals, Inorganic, Chemicals, and Others), Functionality (Binders, Preservatives, Fillers & Diluents, Flavouring Agents, and Others), and Regions (The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The global pharmaceutical excipients market size was valued at USD 8.4 billion in 2021 and is expected to surpass USD 13.2 billion by 2031, expanding at a CAGR of 6.1% during the forecast period, 2021–2031. The growth of the market is attributed to the growing pharmaceuticals market coupled with a rise in generic production, advancement in functional excipients, and growth in pharmaceutical excipients.

INTRODUCTION

Pharmaceutical excipients play a vital role in drug formulation and development. They are used to enhance the drug flavor which increases patient compliance. The pharmaceutical excipients are obtained from organic, inorganic, and other sources. Excipients are used in drug formulation as it provides long-term stability. Also, it enhances the overall safety of the product during storage. They help in transporting the active pharmaceutical substance to the site of action in the body. Based on nature pharmaceutical excipients are obtained from organic and inorganic sources. Organic chemicals include oleochemicals, carbohydrates, proteins, petrochemicals, and others. Pharmaceutical excipients act as fillers, diluents, binders, flavoring agents, coating agents, colorants, sweeteners, disintegrants, lubricants & glidants, preservatives, and others. It has different functionalities that it can be used as solubilizers, binders & adhesives, disintegrants, glidants, emulsifying agents, antioxidants, chelating agents, preservatives, and others. Pharmaceutical excipients contain everything except active pharmaceutical ingredients. They are used to enhance the drug’s physiological absorption; they do not have medicinal properties. Traditionally pharmaceutical excipients were simple molecules but over the period the increasing demand and technological innovation for novel drug delivery have enhanced the pharmaceutical excipient’s complexity. It promotes the patient’s stability, drug acceptability, and bioavailability. They maintain drug integrity which helps in drug storage.

Market Trends, Drivers, Restraints, and Opportunities

• The rapid developments and high growth of the pharmaceutical sector are fueling the growth of the pharmaceutical excipients market.
• The invention of various new antibodies for prevalent diseases is expected to grow the pharmaceutical excipients market.
• The rising demand for biopharmaceuticals is another factor fueling the market globally.
• The increasing research and development in the pharmaceutical industry are forecasted to raise the growth of the pharmaceutical excipients market higher in the coming years.
• The cost and time factors are restraining the pharmaceutical excipients market.
• The government's strict and inflexible regulatory policies are hindering the global pharmaceutical excipients market.
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Scope of the Report

Market Segment Insights

The organic chemicals segment is expected to expand at a rapid pace

Based on type, the global pharmaceutical excipients market is divided into organic chemicals, inorganic, chemicals, and others. The organic chemical segment is expected to expand at a rapid pace during the forecast period. The growth of the segment is attributed to the use of these chemicals in the formulation of most pharmaceutical excipients. However, the inorganic chemical segment is anticipated to hold a key share of the market in the coming years.

The binder segment is projected to register a considerable CAGR

Based on functionality, the market is segregated into binders, preservatives, fillers & diluents, flavoring agents, and others. The binder segment is projected to register a considerable CAGR during the forecast period. The growth is attributed to the increasing demand for biopharmaceutical & pharmaceutical drugs, and the launch of new products in the sector. Binders assist active pharmaceutical ingredients and provide good functionality and competitive advantage. The growth in the production of pharmaceuticals is expected to increase the growth of binders. On the other hand, the fillers & diluents segment is anticipated to account for a major market share during the forecast period, owing to the increased usage in drug development.

The North American region is anticipated to constitute a key market share

In terms of regions, the global pharmaceutical excipients market is classified as the Asia Pacific, Middle East Africa, Europe, North America, and Latin America. The market North American region is expected to constitute a key share of the market during the projected period, due to the advanced research and healthcare facilities available in the region. The Asia Pacific region is considered the fastest-growing region with key players adopting an expansion strategy in this region to gain maximum market share in the coming years. Countries from the region China and India are offering ample opportunities for the growth of the pharmaceutical excipients market with its high population base the and emergence of new manufacturing facilities in the region due to the cheap labor and cheap raw materials available. Key factors such as favoring policies and high investments in the healthcare field are other factors driving the pharmaceutical excipients market in the Asia Pacific region. However, the market in Europe is anticipated to expand at a rapid pace during the forecast period.

Competitive Landscape

Key players competing in the global pharmaceutical excipients market are Evonik Industries AG (Germany); Ashland Global Holdings, Inc (U.S.); BASF SE (Germany); Archer Daniels Midland Company (U.S.); Roquette Freres (France); International Flavors &Fragrances, Inc. (U.S.); Lubrizol Corporation (U.S.)

FAQs

Mention the market size of the Global pharmaceutical excipients in 2021

The global pharmaceutical excipients market size was valued at USD 8.4 billion in 2021 and is expected to surpass USD 13.2 billion by 2031.

Mention the market size of the Global bleeding disorders treatment in 2021.

The market size of the Global bleeding disorders treatment in 2021 was USD 15.4 billion.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 6.1%.

What are the key drivers of the market?

The growth of the market is attributed to the growing pharmaceuticals market coupled with a rise in generic production, advancement in functional excipients, and growth in pharmaceutical excipients.

What segments are covered in the Global pharmaceutical excipients report?

Segments covered in the report are based on Type (Organic Chemicals, Inorganic, Chemicals, and Others), Functionality (Binders, Preservatives, Fillers & Diluents, Flavoring Agents, and Others)

Which segment holds the largest market share in the Global pharmaceutical excipients by 2031?

The binder segment holds the largest market share in the Global pharmaceutical excipients by 2031

Mention the key players in the market.

Evonik Industries AG (Germany); Ashland Global Holdings, Inc (U.S.); BASF SE (Germany); Archer Daniels Midland Company (U.S.); Roquette Freres (France); International Flavors &Fragrances, Inc. (U.S.); Lubrizol Corporation (U.S.)

Which segment dominates the market?

The organic chemical segment dominates the market.