Pharmaceutical Excipients Market by Product (Organic (Oleochemicals, Carbohydrates) Inorganic (Calcium Carbonate), Functionality (Fillers, Binders, Lubricants, Diluents), Formulation (Oral, Parenteral), Application (Stablizers) - Global Forecast to 2028

Pharmaceutical Excipients Market by Product (Organic (Oleochemicals, Carbohydrates) Inorganic (Calcium Carbonate), Functionality (Fillers, Binders, Lubricants, Diluents), Formulation (Oral, Parenteral), Application (Stablizers) - Global Forecast to 2028

The global pharmaceutical excipients market is projected to reach USD 14.9 Bn by 2028 from USD 10.7 Bn in 2023, at a CAGR of 6.8% during the forecast period of 2023 to 2028. Factors such as the rising pharmaceutical products and generics demand and R&D investments for novel excipient development are predicted to uplift the market in the coming years. Additionally, partnerships and collaboration with pharmaceutical companies and increased emphasis on patient-centric formulations will provide lucrative market growth. However, regulatory stringency and steep development costs are predicted to restrict the market.

“The fillers & diluents functionality held the dominant share in the pharmaceutical excipients market.”

Based on functionality, the global pharmaceutical excipients market is segmented into binders, suspending & viscosity agents, fillers & diluents, flavoring agents & sweeteners, colorants, coating agents, lubricants & glidants, preservatives, disintegrants, emulsifying agents, and other functionalities. The growing demand for fillers and diluents in the development and production of solid oral drugs is expected to drive the expansion of the fillers and diluents market. For manufacturers, fillers and diluents provide stability and facilitate preparation, packaging, shipping, and dispensing. For patients, they enhance the palatability of the formulation and simplify administration and handling of the medication.

“Oral formulations segment accounted for the largest share of the formulations segment in 2022.”

Based on formulations, the pharmaceutical excipients market is segmented into oral formulations, topical forumlations, parenteral formulations and other forumaltions. In 2022, the oral formulations segment accounted for the largest share of the pharmaceutical excipients market. The rapidly growing biopharmaceutical and generics industries are the primary drivers of growth for the pharmaceutical excipients market. Additionally, the oral route of administration is the most prevalent and traditional mode of drug delivery, which has also contributed to the segment's growth.

“Asia Pacific region is likely to grow at a faster pace.”

The pharmaceutical excipients market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific region is anticipated to grow at a significant CAGR during the forecast period. Low-cost manufacturing advantage, low regulatory stringency, and increasing per capita income support the growth of the pharmaceutical excipients market in the region.

The primary interviews conducted for this report can be categorized as follows:

By Respondent: Supply Side- 80%, and Demand Side - 20%

By Designation (Supply Side): Managers - 45%, CXOs & Directors - 30%, Executives- 25%

By Region: North America -20%, Europe -10%, Asia-Pacific -55%, Latin America -10%, MEA- 5%

List of Companies Profiled in the Report:

International Flavors & Fragrances Inc. (US)

Ashland Inc. (US)

Evonik Industries AG (Germany)

BASF SE (Germany)

Kerry Group plc (Ireland)

Roquette Frères (France)

MERCK KGaA (Germany)

Associated British Foods plc (UK)

ADM (US)

Wacker Chemie AG (Germany)

Air Liquide (France)

DOW (US)

Berkshire Hathaway Inc. (US)

Colorcon (US)

DFE PHARMA (Germany)

Innophos (US)

JRS PHARMA (Germany)

Actylis (US)

Meggle GmbH & Co Kg (Germany)

Corel Pharma Chem. (India)

Biogrund GmbH (Germany)

Nitika Pharmaceutical Specialities Pvt. Ltd. (India)

BENEO (Germany)

Fuji Chemical Industries Co., Ltd. (Japan)

R.T. Vanderbilt Holding Company, Inc. (US)

Research Coverage:

This report provides a detailed picture of the pharmaceutical excipients market. It aims to estimate the size and future growth potential of the market across different segments, such as product, functionality, formulation, functionality application and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall pharmaceutical excipients market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (Increasing demand for generic drugs and pharmaceutical products, increased R&D Investments for the development of novel excipients, growing emphasis on patient-centric formulations, collaborations and partnerships with pharmaceutical companies), restraints (Stringent Regulatory Requirements, High Development Costs), opportunities (Rising demand for functional/multifunctional pharmaceutical excipients, advancements in nanotechnology, emerging markets in Asia-Pacific and Latin America) and challenges (Safety & quality concerns, limited availability of certain raw materials) are influencing the growth of pharmaceutical excipients market.

Product Development/Innovation: Detailed insights on newly launched products of the pharmaceutical excipients market.

Functionality Apllication: Additional segment provided for functionality applications where segregation has been provided based on the applications of various excipients highlights the various uses of different excipients classes.

Market Development: Comprehensive information about lucrative markets – the report analyses the pharmaceutical excipients market across varied regions.

Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the pharmaceutical excipients market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players include International Flavors & Fragrances Inc. (US), Ashland Inc. (US), Evonik Industries AG (Germany), BASF SE (Germany), Kerry Group plc (Ireland), Roquette Frères (France), MERCK KGaA (Germany), Associated British Foods plc (UK), ADM (US), Wacker Chemie AG (Germany) and among others in the pharmaceutical excipients market.