Overview and Scope
Pharmaceutical excipients refer to components of a drug delivery system that are not active pharmaceutical ingredients (API) but have undergone acceptable safety evaluation. Excipients, which are not active themselves, allow the drug ingredient to be administered to the patient in the proper form and support the mode and site of action.
Sizing and Forecast
The pharmaceutical excipients market size has grown strongly in recent years. It will grow from $9728.83 billion in 2023 to $10378.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, a surge in the sale of generic drugs and rising advanced healthcare infrastructure..
The pharmaceutical excipients market size is expected to see strong growth in the next few years. It will grow to $13399.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to government initiatives, an increasing development of novel drugs, rising healthcare expenditure and a rapid growth in the elderly population will drive market growth.. Major trends in the forecast period include focusing on sustainable packaging to reduce the use of plastics, focusing on mergers and acquisitions to strengthen market position, focusing on reducing greenhouse gas emissions and leveraging artificial intelligence to track nutrients, water levels and improve transparency in supply chains..
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Segmentation & Regional Insights
The pharmaceutical excipients market covered in this report is segmented –
1) By Product: Inorganic Chemicals, Organic Chemicals, Other Products
2) By Functionality: Fillers And Diluents, Suspending And Viscosity Agents, Coating Agents, Binders, Flavoring Agents And Sweeteners, Disintegrants, Colorants, Lubricants And Glidants, Other Functionalities
3) By Type Of Formulation: Oral Formulation, Topical Formulation, Parenteral Formulation, Other Formulations
North America is the largest region in the pharmaceutical excipients market in 2023. Middle East is expected to be the fastest growing region in the global pharmaceutical excipients market share during the forecast period. The regions covered in the pharmaceutical excipients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The global surge in the sale of generic drugs contributed to the growth of the pharmaceutical excipients market. Generic drugs are alternatives to the marketed brand-name drug in the same dosage form, safety, strength, route of administration, and quality. According to the India Brand Equity Foundation (IBEF), India is the largest provider of generic medicines, the country’s generic drugs account for 20% of the global generic drug exports. Indian pharmaceutical companies received 300 generic drug approvals in the USA. The surge in the demand for generic drugs drives the pharmaceutical excipients market.
Key Industry Players
Major companies operating in the pharmaceutical excipients market report are BASF SE, Ashland Global Holdings, Evonik Industries AG, International Flavors & Fragrances, Inc., Roquette Frères, Archer Daniels Midland Company, Lubrizol Corporation, Croda International PLC, Kerry Group, DuPont de Nemours, Inc., Sun Pharmaceuticals Industries Ltd., Cipla Ltd., Amster Microcell Private Limited, Finar Limited, P. D. Polychem Private Limited, CAD Pharma Inc., Maas Pharma Chemicals, Aeon Procare Private Limited, CSPC Pharmaceutical Group Ltd., Allen & Hanburys Ltd., Actelion Pharmaceuticals UK Ltd., Colorcon, MEGGLE GmbH & Co. KG, Boehringer Ingelheim International GmbH, Alexion Pharma, DMV-Fonterra Excipients GmbH & Co. KG, Alpen Pharma AG, Avantor Inc., JRS PHARMA GmbH & Co. KG, The Dow Chemical Co, Pfizer, AbbVie Inc., EMS Pharma, Biolab Farmaceutica, Medist FZE, W.R. Grace, Univar Solutions, Nitika Pharma, DFE Pharma, Cargill, Sensient Pharma.
The pharmaceutical excipients market report table of contents includes:
1. Executive Summary
2. Pharmaceutical Excipients Market Characteristics
3. Pharmaceutical Excipients Market Trends And Strategies
4. Pharmaceutical Excipients Market – Macro Economic Scenario
5. Global Pharmaceutical Excipients Market Size and Growth
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31. Pharmaceutical Excipients Market Other Major And Innovative Companies
32. Global Pharmaceutical Excipients Market Competitive Benchmarking
33. Global Pharmaceutical Excipients Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pharmaceutical Excipients Market
35. Pharmaceutical Excipients Market Future Outlook and Potential Analysis
36.Appendix
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