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, PG 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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