Pharmaceutical Excipients Market Report Scope & Overview:

The Pharmaceutical Excipients Market Size was valued at USD 9.09 billion in 2023 and is expected to reach USD 14.52 billion by 2031, and grow at a CAGR of 6.02% over the forecast period 2024-2031.

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.

Pharmaceutical Excipients Market Revenue Analysis

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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.


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.


by Function

  • Fillers and diluents

  • Binders

  • Coatings

  • Flavoring agents

  • Disintegrants

  • Colorants

  • Others

by Type

 by Type of Formulation





Pharmaceutical Excipients Market Segmentation Analysis

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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.


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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


Major Players are 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 and Other Player.

Dow Chemicals Corporation-Company Financial Analysis

Company Landscape Analysis

Pharmaceutical Excipients Market Report Scope:

Report Attributes Details
Market Size in 2023 US$ 9.09 Billion
Market Size by 2031 US$ 14.52 Billion
CAGR CAGR of 6.02% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
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

Ans: The Pharmaceutical Excipients Market Size was valued at USD 8.58 billion in 2022.

Ans: The Pharmaceutical Excipients Market is to grow at a CAGR of 6% over the forecast period 2023-2030.

Ans: The major players are Akzo Nobel N.V., Evonik, Merck, J.M. Huber Corporation, Dow Chemical’s Corporation, Merck Millipore, Croda International, and Archer Daniels Midland, Ashland, Inc., BASF SE, Associated British Foods Plc, and others.

Ans: Forecast period of Pharmaceutical Excipients Market is 2023-2030.

  • Pharmaceutical manufacturing is shifting to emerging markets.

  • Excipients Multifunctional and Biosimilars market expansion

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea 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

8.2 Binders

8.3 Coatings

8.4 Flavoring agents

8.5 Disintegrants

8.6 Colorants

8.7 Others

9.Pharmaceutical excipients market, by Type

9.1 Inorganic Chemicals

9.2 Organic Chemicals  

10.Pharmaceutical excipients market, by Type of Formulation





11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

12.Company Profiles

12.1 Akzo Nobel N.V.

12.1.1 Financial

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

14. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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