Pharmaceutical Excipients Market: Current Trends, Growth Prospects, and Industry Analysis
The revenue for the global pharmaceutical excipients market was anticipated to be $8.6 billion in 2022 and to increase by 5.9% CAGR to $11.5 billion by 2030. It was discovered in a recent research study what the market's buying habits were and how the sector was trending in terms of pricing, patents, conferences, and webinars. The rise of generic medications, the growing use of biopharmaceuticals, the usage of orphan medications, as well as the expansion of the pharmaceutical industry backed by functional excipients, are major market drivers. Excipients with multiple functions, the shifting of pharmaceutical production to emerging countries, and the growth of the biosimilars market all provide promising prospects for market participants in the near future.
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The most recent research study comprises materials from conferences and webinars, industry trends, pricing analysis, and patent analysis. The demand for pharmaceutical excipients is rising due to a number of causes, including the growth of the pharmaceutical sector supported by functional excipients, the rise of the generics market, the increased use of biopharmaceuticals, and the rising acceptance of orphan drugs. Excipients with multiple functions, moving pharmaceutical production to developing countries, and the advent of the biosimilars sector all offer market participants bright futures for growth. During the anticipated period, market growth is expected to be constrained by the time- and money-consuming nature of the drug research process as well as stringent regulatory criteria for the approval of pharmaceuticals and excipients.
Keys Drivers in Pharmaceutical Excipients Market
- Rising Pharmaceutical Industry: The growth of the pharmaceutical industry directly impacted the demand for pharmaceutical excipients. As the production of drugs and medicines increased globally, so did the need for excipients to facilitate drug formulation and delivery.
- Increasing Generic Drug Manufacturing: The rise in the production of generic drugs, which often require a variety of excipients for formulation, contributed significantly to the demand for pharmaceutical excipients.
- Advancements in Drug Delivery Technologies: The development of novel drug delivery technologies, such as oral films, controlled-release formulations, and nanotechnology-based drug delivery, created a higher demand for specialized excipients tailored to these innovative formulations.
- Growing Demand for Oral Solid Dosage Forms: The prevalence of oral solid dosage forms, such as tablets and capsules, continued to be a dominant drug delivery method. This sustained demand for oral dosage forms drove the need for excipients compatible with such formulations.
- Increasing Focus on Patient Compliance and Convenience: Drug manufacturers sought excipients that improved patient compliance and convenience, such as taste-masking agents for pediatric formulations and fast-dissolving excipients for elderly patients.
- Stringent Regulatory Standards: Evolving regulatory standards in the pharmaceutical industry necessitated the use of high-quality and safe excipients. Compliance with regulatory requirements played a crucial role in shaping the excipients market.
Major Classifications are as follows:
By Product
- Organic Chemicals
- Oleochemicals
- Fatty Alcohols
- Metal Stearates
- Glycerin
- Other Oleochemicals
- Carbohydrates
- Sugars
- Actual Sugars
- Sugar Alcohols
- Artificial Sweetners
- Cellulose
- Microcrystalline cellulose
- Cellulose ethers
- Carboxymethyl cellulose (CMC) and croscarmellose sodium
- Cellulose esters
- Starches
- Modified Starch
- Dried Starch
- Converted Starch
- Sugars
- Petrochemicals
- Glycols
- Povidones
- Mineral Hydrocarbons
- Acrylic Polymers
- Other Petrochemical Excipients
- Proteins
- Other Organic Chemicals
- Inorganic Chemicals
- Calcium Phosphate
- Metal Oxides
- Halites
- Calcium Carbonate
- Calcium Sulphate
- Other Inorganic Chemicals
- Other Chemicals
- Fillers & Diluents
- Suspending & Viscosity Agents
- Coating Agents
- Binders
- Flavoring Agents & Sweeteners
- Disintegrants
- Colorants
- Lubricants & Glidants
- Preservatives
- Emulsifying Agents
- Other Functionalities
- Oral Formulations
- Tablets
- Capsules
- Hard-gelatin Capsules
- Soft-gelatin Capsules
- Liquid Formulations
- Topical Formulations
- Parenteral Formulations
- Other Formulations
- North America
- US
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- UK
- RoE
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Key Players
Ashland Global Holdings, Inc (US), BASF SE (Germany), International Flavors & Fragrances, Inc. (US), Evonik Industries AG (Germany), Roquette Frères (France).
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Investing in this study would grant you access to valuable information, including:
• Comprehensive coverage of the Pharmaceutical Excipients Market, both globally and broken down by regions.
• Regional-level breakdowns of the market, including North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
• Country-specific market size splits for the most important countries with major market shares.
• Market share and revenue/sales data for the industry's leading players.
• Analysis of market trends such as emerging technologies, products, and start-ups, as well as PESTEL Analysis, SWOT Analysis, Porter's Five Forces, and more.
• Detailed market size data, including breakdowns by application/industry verticals.
• Projections and forecasts for the market's future growth and development.
Pharmaceutical Excipients Market Frequently Asked Questions (FAQs):
- What are the common excipients used in pharmaceutical industry?
- What are the regulatory requirements for excipients?
- Can pharmaceutical excipients affect the efficacy of drugs?
- Why are pharmaceutical excipients important?
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