Pharmaceutical Excipients Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
The global pharmaceutical excipients market size was estimated to be US$ 8.3 billion in 2021 and is expected grow at a CAGR of 6.1% between 2023 to 2032.
Pharmaceutical excipients are generally inert substances that are added to the active pharmaceutical ingredients (prodrug) to enhance their stability, increase the overall volume, and facilitate drug delivery. They are precisely assessed for their safety and enhancement effects before being selected for the drug manufacturing process. Diluents, binders, gelling agents, coating agents, glidants, etc are a few of the major categories of pharmaceutical excipients based on their functions in the medication. The pharmaceutical excipients can be organic, or inorganic depending on the requirement of the API.
Some examples of pharmaceutical excipients are gelatin and polyethylene glycol which is commonly used in the manufacturing of capsules, and gels, and can be used as solvents for ointment drugs. Similarly, sugars or other sweetening agents can be added to enhance the palatability of the dissolved medicine. Cellulose esters are used for the osmotic or enteric coating of drugs to enable better assimilation of the drug by the body. Pharmaceutical excipients can also be categorized based on delivery method into oral, topical, or parenteral, etc.
Major drivers for growth:
Increased demand for versatile excipients and the rising use of generic pharmaceuticals are predicted to be the primary drivers of revenue and growth of the pharmaceutical excipients market. Because the excipients help improve the functioning and provide an exceptional advantage in medication formulations, their contribution and growing use by pharmaceutical companies in recent years are expected to rise during the forecasted period.
Continued research and breakthrough of optimum or near-ideal materials that can be utilized in pharmaceutical formulations have provided a significant boost to the market. Another element driving worldwide expansion is that most pharmaceutical companies are creating more complex excipients that play a more important role in medication delivery.
Thus, a rise in the demand for therapeutic drugs and treatments, as well as a growth in pharmaceutical adoption, might serve as important market drivers. In contrast, the market may be severely constrained by stringent laws and regulations governing the adverse effects of pharmaceutical excipient production on the environment.
Product segmentations of pharmaceutical excipients:
Polymers, which include microcrystalline cellulose and gelatinized starch, have become the largest product categories of pharmaceutical excipients by sales and volume. These polymers may perform a variety of tasks in drug development, which explains their widespread use in pharmaceutical research and development. When contrasted with other types of excipients being used, they provide greater strength and longer shelf life in pharmaceutical formulations.
Polymers provide optimal formulation characteristics enabling controlled/sustained release and also helping in the targeted delivery of medications. In the projected years, the rising utilization of various forms of administration such as liquids, tablets, and capsules are expected to be a significant driving force for the polymer-based pharmaceutical excipient market.
Sugars have evolved to become the second-largest product sector, contributing to roughly 30% of total sales in 2021. Sugar is a favored option in a wide range of pharmaceutical applications due to its spherical form and pore structure, which enables permeability and low compressibility. Sugar is also employed as a medication delivery agent via the pulmonary route, and applications like this are expected to help their growth in the pharmaceutical excipients market.
The demand for novel nanoparticle drug delivery substances in oncological medications is rising in recent years. The nanoparticle-based pharmaceutical excipients help to provide better stability and adoption of medicines in oncology treatments. These features of nanoparticle drug delivery will generate new interest in pharmaceutical excipients research and development. The patent expiry of blockbuster drugs is also expected to boost the global pharmaceutical excipients market significantly.
New formulations and optimization of existing pharmaceutical excipients are expected to be taken up rapidly by pharmaceutical companies. Development and research in new methods of production use in novel drugs, and an overall rising drugs market are showing positive impacts for this sector. Increased regulatory pressures to develop better and optimized products will also enhance drug excipients discovery. These factors are expected to increase the overall R&D activity and in turn, expand the pharmaceutical excipients market within the next decade.
Regional developments in the pharmaceutical excipients market:
Europe is accompanied by North America for major sales and growth of the pharmaceutical excipient market. This is due to the existence of major firms that are direct makers of the materials utilized as pharmaceutical excipients. Because of continuing research on drug-excipient interactions and a race to improve their efficiency and efficacy, the pharmaceutical market in these regions is likely to grow significantly.
Due to a rising generic market and a significant amount of demand for drugs in the Asia Pacific, the Middle East, and Africa regions are also expected to enable the growth of the pharmaceutical excipients market. These places also provide low-cost manufacturing techniques and are an excellent supply of raw materials for excipient production. Newly established pharmaceutical companies in this region are expected to utilize marketing and promotional strategies to help the growth in this region.
Key players and market strategies:
The global pharmaceutical excipients market is very competitive and fragmented owing to the presence of a large number of companies competing in this sector. The development of novel and multifunctional excipient products is expected to be a major game changer in this market. Various routes of competing by use of mergers and acquisitions will act as secondary attempts to gain market share and revenue in the pharmaceutical excipients market.
Some of the biggest companies operating in the pharmaceutical excipients market are Ashland Global Holdings, BASF SE, DuPont, Roquette Feres, Evonik Industries AG, Associated British Foods, Archer Daniels Midland Company, Lubrizol Corporation, Croda International, Kerry Group, and many more.
Market Segmentation:
By Product
- Organic Chemicals
- Inorganic Chemicals
- Others
By Functionality
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Colorants
- Lubricants and Glidants
- Preservatives
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
By Formulations
- Topical Formulations
- Oral Formulations
- Parenteral Formulations
- Other Formulations
By End-Users
- Pharmaceuticals Companies
- Research Organization
- Academics
- Others
By Distribution Channel
- Online Pharmacy
- Retail
- Others
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
- Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
- Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
- Market Synopsis: Global Pharmaceutical Excipients Market
- Global Pharmaceutical Excipients Market Qualitative Analysis
- Trends
- Market trends
- Technology Trends
- PESTLE Analysis (For 3 prominent countries)
- Market Influencers
- Driving Forces
- Hindering Forces
- Opportunities
- COVID-19 impact
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Trends
- Global Pharmaceutical Excipients Market Analysis and Forecast, by Product
- Overview and definitions
- Key segment analysis
- Global Pharmaceutical Excipients Market Estimates (US$ Mn), Product, 2019 – 2032
- Organic Chemicals
- Inorganic Chemicals
- Others
- Global Pharmaceutical Excipients Market Analysis and Forecast, by Functionality
- Overview and definitions
- Key segment analysis
- Global Pharmaceutical Excipients Market Estimates (US$ Mn), Functionality, 2019 – 2032
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Colorants
- Lubricants and Glidants
- Preservatives
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
- Global Pharmaceutical Excipients Market Analysis and Forecast, by Formulation
- Overview and definitions
- Key segment analysis
- Global Pharmaceutical Excipients Market Estimates (US$ Mn), Formulation, 2019 – 2032
- Topical Formulations
- Oral Formulations
- Parenteral Formulations
- Other Formulations
- Global Pharmaceutical Excipients Market Analysis and Forecast, by End User
- Overview and definitions
- Key segment analysis
- Global Pharmaceutical Excipients Market Estimates (US$ Mn), End User, 2019 – 2032
- Pharmaceuticals Companies
- Research Organization
- Academics
- Others
- Global Pharmaceutical Excipients Market Analysis and Forecast, by Distribution Channel
- Overview and definitions
- Key segment analysis
- Global Pharmaceutical Excipients Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Online Pharmacy
- Retail Pharmacy
- Others
- Global Pharmaceutical Excipients Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Pharmaceutical Excipients Market Estimates (US$ Mn), by Region, 2019 – 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Pharmaceutical Excipients Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Pharmaceutical Excipients Market Estimates (US$ Mn), Product, 2019 – 2032
- Organic Chemicals
- Inorganic Chemicals
- Others
- North America Pharmaceutical Excipients Market Estimates (US$ Mn), Functionality, 2019 – 2032
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Colorants
- Lubricants and Glidants
- Preservatives
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
- North America Pharmaceutical Excipients Market Estimates (US$ Mn), Formulation, 2019 – 2032
- Topical Formulations
- Oral Formulations
- Parenteral Formulations
- Other Formulations
- North America Pharmaceutical Excipients Market Estimates (US$ Mn), End User, 2019 – 2032
- Pharmaceuticals Companies
- Research Organization
- Academics
- Others
- North America Pharmaceutical Excipients Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Online Pharmacy
- Retail Pharmacy
- Others
- North America Pharmaceutical Excipients Market Estimates (US$ Mn), by Country, 2019 – 2032
- United States
- Canada
- Rest of North America
- Europe Pharmaceutical Excipients Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Pharmaceutical Excipients Market Estimates (US$ Mn), Product, 2019 – 2032
- Organic Chemicals
- Inorganic Chemicals
- Others
- Europe Pharmaceutical Excipients Market Estimates (US$ Mn), Functionality, 2019 – 2032
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Colorants
- Lubricants and Glidants
- Preservatives
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
- Europe Pharmaceutical Excipients Market Estimates (US$ Mn), Formulation, 2019 – 2032
- Topical Formulations
- Oral Formulations
- Parenteral Formulations
- Other Formulations
- Europe Pharmaceutical Excipients Market Estimates (US$ Mn), End User, 2019 – 2032
- Pharmaceuticals Companies
- Research Organization
- Academics
- Others
- Europe Pharmaceutical Excipients Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Online Pharmacy
- Retail Pharmacy
- Others
- Europe Pharmaceutical Excipients Market Estimates (US$ Mn), by Country, 2019 – 2032
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific Pharmaceutical Excipients Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Pharmaceutical Excipients Market Estimates (US$ Mn), Product, 2019 – 2032
- Organic Chemicals
- Inorganic Chemicals
- Others
- Asia Pacific Pharmaceutical Excipients Market Estimates (US$ Mn), Functionality, 2019 – 2032
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Colorants
- Lubricants and Glidants
- Preservatives
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
- Asia Pacific Pharmaceutical Excipients Market Estimates (US$ Mn), Formulation, 2019 – 2032
- Topical Formulations
- Oral Formulations
- Parenteral Formulations
- Other Formulations
- Asia Pacific Pharmaceutical Excipients Market Estimates (US$ Mn), End User, 2019 – 2032
- Pharmaceuticals Companies
- Research Organization
- Academics
- Others
- Asia Pacific Pharmaceutical Excipients Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Online Pharmacy
- Retail Pharmacy
- Others
- Asia Pacific Pharmaceutical Excipients Market Estimates (US$ Mn), by Country, 2019 – 2032
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa Pharmaceutical Excipients Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Pharmaceutical Excipients Market Estimates (US$ Mn), Product, 2019 – 2032
- Organic Chemicals
- Inorganic Chemicals
- Others
- Middle East & Africa Pharmaceutical Excipients Market Estimates (US$ Mn), Functionality, 2019 – 2032
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Colorants
- Lubricants and Glidants
- Preservatives
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
- Middle East & Africa Pharmaceutical Excipients Market Estimates (US$ Mn), Formulation, 2019 – 2032
- Topical Formulations
- Oral Formulations
- Parenteral Formulations
- Other Formulations
- Middle East & Africa Pharmaceutical Excipients Market Estimates (US$ Mn), End User, 2019 – 2032
- Pharmaceuticals Companies
- Research Organization
- Academics
- Others
- Middle East & Africa Pharmaceutical Excipients Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Online Pharmacy
- Retail Pharmacy
- Others
- Middle East & Africa Pharmaceutical Excipients Market Estimates (US$ Mn), by Country, 2019 – 2032
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America Pharmaceutical Excipients Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Pharmaceutical Excipients Market Estimates (US$ Mn), Product, 2019 – 2032
- Organic Chemicals
- Inorganic Chemicals
- Others
- South America Pharmaceutical Excipients Market Estimates (US$ Mn), Functionality, 2019 – 2032
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Colorants
- Lubricants and Glidants
- Preservatives
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
- South America Pharmaceutical Excipients Market Estimates (US$ Mn), Formulation, 2019 – 2032
- Topical Formulations
- Oral Formulations
- Parenteral Formulations
- Other Formulations
- South America Pharmaceutical Excipients Market Estimates (US$ Mn), End User, 2019 – 2032
- Pharmaceuticals Companies
- Research Organization
- Academics
- Others
- South America Pharmaceutical Excipients Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Online Pharmacy
- Retail Pharmacy
- Others
- South America Pharmaceutical Excipients Market Estimates (US$ Mn), by Country, 2019 – 2032
- Brazil
- Argentina
- Rest of South America
- Competition Analysis – Global Pharmaceutical Excipients Market
- Market Composition
- Market Share Analysis (%), by Supplier (2022)
- Company Profiles
- Ashland Global Holdings
- Business overview
- Geographic presence
- Product portfolio
- Financial facts
- Relevant news and strategic view
- BASF SE
- DuPont
- Roquette Feres
- Evonik Industries AG
- Associated British Foods
- Archer Daniels Midland Company
- Lubrizol Corporation
- Croda International
- Kerry Group
- Ashland Global Holdings
- Conclusion & Recommendations
Frequently asked questions about this report
What are the uses of pharmaceutical excipients?
Pharmaceutical excipients are added to the active pharmaceutical ingredients (prodrug) to enhance their stability, increase the overall volume, and facilitate drug delivery.
What are the reasons for the faster growth of the pharmaceutical excipients market globally?
Increasing demand for multivariate excipients along with a rising utilization of generic pharmaceuticals globally are expected to drive the revenue and growth of the pharmaceutical excipients market.
What is the estimated growth rate of the global pharmaceutical excipients market?
The global pharmaceutical excipients market is estimated to expand at a CAGR of 6.1% between 2023 to 2032.
What was the market for pharmaceutical excipients valued at in 2021?
The global pharmaceutical excipients market size was estimated to be US$ 8.3 billion in 2021.
How is the regional performance of the market?
Rising generic market and a significant amount of demand for drugs in the Asia Pacific, the Middle East, and Africa regions are also expected to enable the growth of the pharmaceutical excipients market. These places also provide low-cost manufacturing techniques and are an excellent supply of raw materials for excipient production.
Which companies are the market leaders in the global pharmaceutical excipients market?
Ashland Global Holdings, BASF SE, DuPont, Roquette Feres, Evonik Industries AG, Associated British Foods, Archer Daniels Midland Company, Lubrizol Corporation, Croda International, and Kerry Group are some of the biggest companies operating in the pharmaceutical excipients market.