Pharmaceutical Excipients Market Size, Share, Growth Analysis, By Product(Organic Chemicals, and Inorganic Chemicals.), By Functionality(Fillers and Diluents, Suspending and Viscosity Agents, Coating Agents, Binders), By Formulations(Topical Formulations, Oral Formulations, Parenteral Formulations), By End User(Pharmaceuticals Companies, Research Organization, Academics. By Distribution Channel, the market is segmented into Online Pharmacy), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35I2120 | Region: Global | Published Date: February, 2024
Pages: 242 |Tables: 126 |Figures: 77

Pharmaceutical Excipients Market Insights

Pharmaceutical Excipients Market size was valued at USD 8.6 billion in 2019 and is poised to grow from USD 9.11 billion in 2023 to USD 14.41 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).

The rising prevalence of chronic and lifestyle diseases in the world, as well as significant investments made by the pharmaceutical industry in the development of biologics, are expected to have a significant impact on the growth of the global market over the forecasted period. But during the projection period, market expansion is expected to be slightly constrained by the expensive and time-consuming process of developing new medications. Furthermore, the widespread adoption of pharmaceutical production in numerous emerging countries is expected to provide promising opportunities for the company to expand over time.

Excipients can occur in a variety of forms and sizes, such as sweets that intensify the drug's unpleasant flavor. Excipients also have an impact on the medicine's flavor, stability, and efficacy. Moreover, binders and disintegrants make sure the chemical is easy to ingest and functions as intended. The demand for excipients in the global pharmaceutical excipients market is anticipated to increase as a result of the aforementioned characteristics. The cost and time-intensive nature of the drug development process as well as the tightening regulatory standards for the approval of pharmaceuticals and excipients are expected to hinder the market growth, nevertheless.

US Pharmaceutical Excipients Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 8.6 billion

Largest Segment

Oral Formulations

Fastest Growth

Oral Formulations

Growth Rate

5.9% CAGR

Global Pharmaceutical Excipients Market ($ Bn)
Country Share for North America Region (%)

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Pharmaceutical Excipients Market Segmental Analysis

Global Pharmaceutical Excipients market is segmented on the basis of Product, Functionality, Formulations, End-Users, Distribution Channel, and region. By Product, the market is segmented into Organic Chemicals, and Inorganic Chemicals. By Functionality, the market is segmented into Fillers and Diluents, Suspending and Viscosity Agents, Coating Agents, Binders, Disintegrants, Colorants, Lubricants and Glidants, Preservatives, Emulsifying Agents, Flavoring Agents and Sweeteners. By Formulations, the market is segmented into Topical Formulations, Oral Formulations, Parenteral Formulations. By End-Users, the market is segmented into Pharmaceuticals Companies, Research Organization, Academics. By Distribution Channel, the market is segmented into Online Pharmacy, Retail, Mail-Order. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Pharmaceutical Excipients Market Analysis by Functionality

The segment for filers and diluents is expected to exhibit the highest CAGR during the forecast period. Drugs that are given orally maintain the chemical and physical stability of the medication while offering packaging and transportation benefits to the manufacturer. The industry is increasing as a result of the growing use of inexpensive treatment options. To enhance and alter the weight of an oral solid dosage form and reduce weight variation error, diluents and fillers are used. Excipients with a variety of applications, such as greater compressibility, dosing accuracy, and maintaining flow characteristics of viscous substance, are what fuel the global market expansion. Chewable pills, particularly for kids, are constantly made with mannitol. Most wet granulation manufacturing uses diluents. Diluents are primarily used in the wet granulation method for producing tablets and capsules.

Pharmaceutical Excipients Market Analysis by Formulation

In 2022, oral formulations will have the biggest market share, dominating the industry. The most popular method of drug delivery is through oral formulations, which is promoting sector expansion over the course of the projection period. The market is being dominated by the increased desire to increase drug manufacturing rates in the pharmaceutical sectors. Oral tablets and capsule formulation market expansion is fueled by the introduction of a revolutionary drug delivery technology and sustained released capsule to provide digestive tract function.

Throughout the anticipated period, the market for topical formulations is anticipated to increase at the fastest rate. Better absorption of topical excipients with liquid APIs and higher patient compliance as a result of sensory effects are the key drivers of this segment's growth. Moreover, it is expected that the Topical will exhibit a significant CAGR during the forecast period. The development of this market has been driven by the strong absorption of topical excipients with liquid APIs and better patient compliance cos of sensorial effects.

Global Pharmaceutical Excipients Market By Formulations

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Pharmaceutical Excipients Market Regional Insights

North America currently holds the largest market share for pharmaceutical excipients and is expected to continue on a similar path during the forecast period. The market will experience significant expansion throughout the projected period due to factors including the rapidly expanding pharmaceutical sector, rising demand for functional excipients, the presence of major players in the area, and technological advancements. It is expected that rising R&D investment will drive market growth. The introduction of technologically improved or superior excipients also accelerates the market's growth. For instance, Apisolex was introduced in the United States in May 2022 by Lubrizol Life Science (LLS) Health, one of the world leaders in speeding success and innovation in pharmaceutical research. It is a brand-new excipient for parenteral medicinal formulations that improves solubility. Hence, it is projected that the aforementioned reasons will support the market's expansion in the North American region.

However, due to the low price of raw materials and the availability of a cost-effective labor market in this region, Asia-Pacific is expected to expand at a fast growth rate during the forecast period. Also, the development of the pharmaceutical sector in nations like China, India, and others is projected to present a plethora of chances for the market to expand in terms of value sales during the forecast period.

Global Pharmaceutical Excipients Market By Region
  • Largest
  • Fastest

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Pharmaceutical Excipients Market Dynamics

Pharmaceutical Excipients Market Drivers

Growing biopharmaceuticals industry to drive market growth

  • Due to their similarity to biomolecules naturally found in the body, high potency, and minimal side effects, biopharmaceuticals are steadily gaining popularity in the pharmaceutical sector. Hence, one of the pharmaceutical industry's fastest growing segments is the biopharmaceuticals form. Additionally, new ideas, including regenerative medicines, are being continuously improved. This offers a significant chance for the market to expand as a result. The majority of the drugs that are now sold in the market are among the top 15 biopharmaceutical items. As a result, the vast majority of pharma firms globally are gradually shifting their R&D focus to macromolecule products.

Increase in Excipient Demand

  • Pharmaceutical excipients are components of pharmaceutical dosage forms that are not intended for direct therapeutic use but rather to facilitate production, provide protection or support, or enhance stability and availability. Excipients play a small but important role in the growing worldwide pharmaceutical business. The market has increased recently as a result of the rising demand for generic medications. Also, there has been a dramatic rise in the prevalence of chronic diseases.

Pharmaceutical Excipients Market Restraints

Rising regulatory stringency in drug and excipient approval

  • The procedures for approving generic drugs are essentially the same everywhere, with very minor variations in underdeveloped nations. This is due to the fact that he is exempt from the bioequivalence (BE) research requirement in this region of the world. Medical professionals assert that governments must guarantee the uniform quality of all generic medications. Only then can physicians be content and confident in writing generic medicine prescriptions. The lack of strong regulatory criteria surrounding the number of generic drugs and the number of allowable contaminants has been a major factor in physicians' (and even patients') lack of confidence in generic medications.

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Pharmaceutical Excipients Market Competitive Landscape

The main business tactics used by the majority of companies in the pharmaceutical excipients market are business expansions, new product launches, mergers and acquisitions, and partnerships with academic institutions. Over the projection period, the market will experience advancements due to the pharmaceutical industry's requirement for novel functional excipients. Due to this strategy, market leaders are constantly launching a variety of new excipients and modified categories of excipients already on the market.

Pharmaceutical Excipients Market Top Player’s Company Profiles

  • Ashland Global Holdings Inc.
  • BASF SE
  • Dow Inc.
  • Evonik Industries AG
  • Roquette Frères S.A.
  • Kerry Group plc
  • Lubrizol Corporation
  • Croda International Plc
  • Innophos Holdings, Inc.
  • Dupont de Nemours, Inc.
  • Colorcon Inc.
  • Wacker Chemie AG
  • Shin-Etsu Chemical Co., Ltd.
  • Archer Daniels Midland Company
  • Pfanstiehl, Inc.
  • JRS Pharma GmbH & Co. KG
  • IMCD Group B.V.
  • Signet Chemical Corporation Pvt. Ltd.
  • FMC Corporation
  • Meggle Group Wasserburg

Pharmaceutical Excipients Key Market Trends

  • Due to rising demand for pharmaceutical and biopharmaceutical medications as well as new product launches, the market is predicted to have considerable expansion throughout the forecast period. In order to help active pharmaceutical components, work better and provide themselves a competitive edge, binders have gradually come to be recognized by the pharmaceutical industry. Also, as pharmaceutical output increases, the demand for binders is anticipated to rise as well, which is anticipated to fuel the segment's expansion. For instance, India's pharmaceutical manufacturing was third in the world by volume and ranked 14th by value in 2022, according to the India Brand Equity Foundation's 2022 study. They are naturally produced, multifunctional excipients that adhere to both pharmaceutical and food monographs and can be used as binders, fillers, and other uses for oral solid dosage forms. The market segment is thus expected to witness significant growth during in the forecast period as a consequence of the factors mentioned.

Pharmaceutical Excipients Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global Pharmaceutical Excipients Market analysis, the rising demand for functional excipients, recent patent expiries boosting the demand for pharmaceutical excipients, and the quick development of nanotechnology are the primary drivers of the pharmaceutical excipients market. The pharmaceutical market is growing as a result of the growing pharmaceutical sector and rising pharmaceutical production. As a consequence of the reasons mentioned, the market is expected to experience expansion over the given time frame. The lack of a proper approval procedure, negative excipient reactions, and contamination in formulations may, however, hinder market growth.

Report Metric Details
Market size value in 2023 USD 8.6 billion
Market size value in 2031 USD 14.41 billion
Growth Rate 5.9%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Organic Chemicals, and Inorganic Chemicals.
  • Functionality
    • Fillers and Diluents, Suspending and Viscosity Agents, Coating Agents, Binders, Disintegrants, Colorants, Lubricants and Glidants, Preservatives, Emulsifying Agents, Flavoring Agents and Sweeteners
  • Formulations
    • Topical Formulations, Oral Formulations, Parenteral Formulations
  • End User
    • Pharmaceuticals Companies, Research Organization, Academics. By Distribution Channel, the market is segmented into Online Pharmacy, Retail, Mail-Order
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Ashland Global Holdings Inc.
  • BASF SE
  • Dow Inc.
  • Evonik Industries AG
  • Roquette Frères S.A.
  • Kerry Group plc
  • Lubrizol Corporation
  • Croda International Plc
  • Innophos Holdings, Inc.
  • Dupont de Nemours, Inc.
  • Colorcon Inc.
  • Wacker Chemie AG
  • Shin-Etsu Chemical Co., Ltd.
  • Archer Daniels Midland Company
  • Pfanstiehl, Inc.
  • JRS Pharma GmbH & Co. KG
  • IMCD Group B.V.
  • Signet Chemical Corporation Pvt. Ltd.
  • FMC Corporation
  • Meggle Group Wasserburg
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Pharmaceutical Excipients Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Pharmaceutical Excipients Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Pharmaceutical Excipients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pharmaceutical Excipients Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pharmaceutical Excipients Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Pharmaceutical Excipients Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Pharmaceutical Excipients Market size was valued at USD 8.6 billion in 2019 and is poised to grow from USD 9.11 billion in 2023 to USD 14.41 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).

The main business tactics used by the majority of companies in the pharmaceutical excipients market are business expansions, new product launches, mergers and acquisitions, and partnerships with academic institutions. Over the projection period, the market will experience advancements due to the pharmaceutical industry's requirement for novel functional excipients. Due to this strategy, market leaders are constantly launching a variety of new excipients and modified categories of excipients already on the market. 'Ashland Holdings Inc.', 'BASF SE', 'Dow Inc.', 'Evonik Industries AG', 'Roquette Frères S.A.', 'Kerry Group plc', 'Lubrizol Corporation', 'Croda International Plc', 'Innophos Holdings, Inc.', 'Dupont de Nemours, Inc.', 'Colorcon Inc.', 'Wacker Chemie AG', 'Shin-Etsu Chemical Co., Ltd.', 'Archer Daniels Midland Company', 'Pfanstiehl, Inc.', 'JRS Pharma GmbH & Co. KG', 'IMCD Group B.V.', 'Signet Chemical Corporation Pvt. Ltd.', 'FMC Corporation', 'Meggle Group Wasserburg'

Due to their similarity to biomolecules naturally found in the body, high potency, and minimal side effects, biopharmaceuticals are steadily gaining popularity in the pharmaceutical sector. Hence, one of the pharmaceutical industry's fastest growing segments is the biopharmaceuticals form. Additionally, new ideas, including regenerative medicines, are being continuously improved. This offers a significant chance for the market to expand as a result. The majority of the drugs that are now sold in the market are among the top 15 biopharmaceutical items. As a result, the vast majority of pharma firms globally are gradually shifting their R&D focus to macromolecule products.

Due to rising demand for pharmaceutical and biopharmaceutical medications as well as new product launches, the market is predicted to have considerable expansion throughout the forecast period. In order to help active pharmaceutical components, work better and provide themselves a competitive edge, binders have gradually come to be recognized by the pharmaceutical industry. Also, as pharmaceutical output increases, the demand for binders is anticipated to rise as well, which is anticipated to fuel the segment's expansion. For instance, India's pharmaceutical manufacturing was third in the world by volume and ranked 14th by value in 2022, according to the India Brand Equity Foundation's 2022 study. They are naturally produced, multifunctional excipients that adhere to both pharmaceutical and food monographs and can be used as binders, fillers, and other uses for oral solid dosage forms. The market segment is thus expected to witness significant growth during in the forecast period as a consequence of the factors mentioned.

North America currently holds the largest market share for pharmaceutical excipients and is expected to continue on a similar path during the forecast period. The market will experience significant expansion throughout the projected period due to factors including the rapidly expanding pharmaceutical sector, rising demand for functional excipients, the presence of major players in the area, and technological advancements. It is expected that rising R&D investment will drive market growth. The introduction of technologically improved or superior excipients also accelerates the market's growth. For instance, Apisolex was introduced in the United States in May 2022 by Lubrizol Life Science (LLS) Health, one of the world leaders in speeding success and innovation in pharmaceutical research. It is a brand-new excipient for parenteral medicinal formulations that improves solubility. Hence, it is projected that the aforementioned reasons will support the market's expansion in the North American region.

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