Report Id: SNS/HC/2584 | July 2022 | Region: Global | 126 Pages
Report Scope & Overview:
The Pharmaceutical Excipients Market Size was valued at USD 8.58 billion in 2022 and is expected to reach USD 13.68 billion by 2030, and grow at a CAGR of 6% over the forecast period 2023-2030.
Pharmaceutical excipients are inert chemicals that are included in the production process or are present in the pharmaceutical product dosage form but are not the pharmacologically active medicine. Excipients are commonly employed in drug formulation to improve long-term stability, bulk out solid formulations, and aid in drug absorption. They also increase the overall safety or functionality of the product during storage or use. The global pharmaceutical excipients market is being driven by an increase in demand for oral solid pharmaceutical medications as well as the advent of innovative treatments as the number of pharmaceutical industries grows.
Drug formulation and nanotechnology in excipients have been combined to create nano-coated tablets, nano-derived liposomes, and vaccinations. Furthermore, due to the low cost of labour in emerging nations, some corporations have expanded their manufacturing units for pharmaceutical excipients, preservatives, glycerin, and fatty acids.
Pharmaceutical business expansion fueled by functional excipients
Biopharmaceutical adoption is increasing and Orphan medications are becoming more popular.
Drug development is a costly and time-consuming process.
Increasing regulatory rigour
Pharmaceutical manufacturing is shifting to emerging markets.
Excipients Multifunctional and Biosimilars market expansion
The use of direct compression in oral dose formulations is becoming more common.
Pharmaceutical excipients have an impact on production costs.
IMPACT OF COVID-19:
The pandemic of COVID-19 had a profound impact on the pharmaceutical industry. Lockdowns implemented in the aftermath of the epidemic hindered raw material supplies from industrial hubs such as India and China. This hampered drug research and manufacture, having a significant impact on companies that rely significantly on outsourcing. Initially, the entire pharmaceutical ecosystem was disrupted. Furthermore, regulatory agencies had to rethink and create new regulations to ensure optimum patient safety following drug usage. With the end of the lockdowns, the pharmaceutical business gained impetus, especially given the demand for medications like hydroxychloroquine and Remdesivir, which shown efficacy against COVID-19. Some companies' revenue increased as a result of rising demand for certain drugs.
This study categorises the global pharmaceutical excipients market by type, function, and geography. The industry is divided into two types: organic and inorganic chemicals. Carbohydrates and petrochemicals are two types of organic compounds. The global market is divided into fillers and diluents, binders, coatings, flavouring agents, disintegrants, colourants, and others based on function. The industry has been segmented into four regions: North America, Europe, Asia-Pacific, and Latin America and the Caribbean. Because of rising demand for solid oral medications for the treatment of chronic diseases, North America is the biggest revenue-generating area. However, the Asia-Pacific area is predicted to have the highest CAGR due to cheap raw material costs and the availability of cost-effective labour.
The pharmaceutical excipients market is divided into oral formulations, topical formulations, parenteral formulations, and other formulations. the oral formulations segment dominated the market. As the most often used formulation in pharmaceuticals to treat various illness conditions, this category is also likely to dominate the market during the forecast period as oral formulations. Furthermore, as compared to other dosage forms, it is a cost-effective manner of administering medicine and simple to manufacture.
Akzo Nobel N.V., Evonik, Merck, J.M. Huber Corporation, Dow Chemicals Corporation, Merck Millipore, Croda International, and Archer Daniels Midland,Ashland, Inc., BASF SE, Associated British Foods Plc,
Fillers and diluents
by Type of Formulation
There is coverage for North America, Europe, Asia Pacific, and the rest of the world. Europe leads the market, accounting for 32% of the pharmaceutical excipients industry share because to the presence of large excipient-based medicine agencies. Because of the larger firms that are direct makers of the products, North America has the second-highest pharmaceutical excipients market share. Due to continuing case studies on medication-excipient interactions to improve drug efficiency, this region will experience substantial expansion during the projection period. In comparison to previous years, Asia Pacific will witness the fastest growth rate, and this region will have the highest CAGR during the projection period. Increased investment in the pharmaceutical business will drive up market demand.
India and China contribute the most, and they have the largest stake in this region. People's changing lifestyles and rising chronic diseases are driving the Asia Pacific pharmaceutical excipients industry. With a growing population, the Japanese pharmaceutical excipients sector will rise steadily in the next years. During the projection period, the Latin American pharmaceutical excipients sector will develop at a moderate rate.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 8.58 Billion|
|Market Size by 2030||US$ 13.68 Billion|
|CAGR||CAGR of 6% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Disease Type (Idopathic OAB and Neurogenic OAB)
• by Drug type ( Anticholinergic (Solifenacin, Oxybutynin, Tolterodine, Darifenacin), Mirabegron)
• by Pharmacotherapy (Fesoterodine, Tolterodine, Trospium, Anticholinergics, Solifenacin, Oxybutynin, Darifenacin)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Akzo Nobel N.V., Evonik, Merck, J.M. Huber Corporation, Dow Chemicals Corporation, Merck Millipore, Croda International, and Archer Daniels Midland,Ashland, Inc., BASF SE, Associated British Foods Plc.|
|Key Drivers||• Pharmaceutical business expansion fueled by functional excipients|
|RESTRAINTS||• Drug development is a costly and time-consuming process.
• Increasing regulatory rigour.
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
22.214.171.124 United Kingdom
126.96.36.199 South Korea
188.8.131.52 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Pharmaceutical excipients market, by Function
8.1 Fillers and diluents
8.4 Flavoring agents
9.Pharmaceutical excipients market, by Type
9.1 Inorganic Chemicals
9.2 Organic Chemicals
10.Pharmaceutical excipients market, by Type of Formulation
10.1 ORAL FORMULATIONS
10.2 TOPICAL FORMULATIONS
10.3 PARENTERAL FORMULATIONS
10.4 OTHER FORMULATIONS
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12.1 Akzo Nobel N.V.
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Evonik, Merck
12.3 J.M. Huber Corporation
12.4 Dow Chemicals Corporation
12.5 Merck Millipore
12.6 Croda International, and
12.7 Archer Daniels Midland
12.8 Ashland, Inc.
12.9 BASF SE
12.10 Associated British Foods Plc
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
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