Life Science Company News

Pharmaceutical Excipients Market Worth $14.9 Billion | MarketsandMarkets

CHICAGO, Dec. 1, 2023 /PRNewswire/ -- Pharmaceutical Excipients Market in terms of revenue was estimated to be worth $10.7 billion in 2023 and is poised to reach $14.9 billion by 2028, growing at a CAGR of 6.8% from 2023 to 2028 according to a new report by MarketsandMarkets. The pharmaceutical excipients market is projected to grow at a CAGR of 6.8% during the forecast period of 2023 to 2028. The major factors attributing to the growth of the market are increasing demand for generic drugs and pharmaceutical products, increased R&D Investments for the development of novel excipients and growing emphasis on patient-centric formulations. Collaborations and partnerships with pharmaceutical companies for customized excipient solutions are likely to boost the growth of the market in the near future.

MarketsandMarkets_Logo

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=956

Browse in-depth TOC on "Pharmaceutical Excipients Market"

562 - Tables

51 - Figures

373 - Pages

Pharmaceutical Excipients Market Scope:

Report Coverage

Details

Market Revenue in 2023

$10.7 billion

Estimated Value by 2028

$14.9 billion

Growth Rate

Poised to grow at a CAGR of 6.8%

Market Size Available for

2021–2028

Forecast Period

2023–2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product, By Functionality, By Formulation, By Functionality application

Geographies Covered

North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Increasing growth of functional/Multifunctional Pharmaceutical Excipients

Key Market Drivers

Increasing demand for generic drugs and pharmaceutical products is propelling the demand for pharma excipients

 

The organic chemicals segment dominated the market share in 2022 for the product segment.

Based on product, the global pharmaceutical excipients market is categorised into organic chemicals, inorganic chemicals and other chemicals. Organic chemicals are mainly chemicals with carbon atoms covalently linked to atoms of other elements. The non-toxic nature of organic chemicals is expected to drive the organic chemicals segments which in turn will uplift the pharmaceutical excipient market from 2023 to 2028.

Fillers and Diluents segment achieved top market share for the functionality segment in 2022

The fillers and diluents segment accounted for a majority of the market share in 2022. Fillers and diluents give form, bulk, or consistency to the product. The fillers and diluents market is expected to grow due to the rising use of fillers and diluents in developing and producing solid oral drugs. Tablets are the most popular dosage forms due to their advantages to manufacturers and patients and hence can drive the fillers and diluents market. The lubricants and glidants market is expected to grow at the fastest rate because they can improve the flow properties of a formulation by reducing the friction and cohesion between particles.

The Asia Pacific region predicted to showcase the most rapid growth during the forecast period.

The Asia Pacific region is poised to lead the market's expansion with the fastest market growth, driven by the low labor and manufacturing costs in China and India. These cost advantages have attracted significant investments from pharmaceutical giants to these countries. Additionally, the growing prevalence of lifestyle-related and age-related diseases, the rising disposable income, and government initiatives to improve healthcare infrastructure further contribute to the region's robust market growth.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=956

Pharmaceutical Excipients Market Dynamics:

Drivers:

  1. Increasing demand for generic drugs and pharmaceutical products is propelling the demand for pharma excipients

Restraints:

  1. High Development Costs associated with Novel excipients

Opportunities:

  1. Increasing growth of functional/Multifunctional Pharmaceutical Excipients

Challenge:

  1. Stringent Regulatory Requirements

Key Market Players of Pharmaceutical Excipients Industry:

The global pharmaceutical excipients market comprises of many key market players competing for markets shares like International Flavors & Fragrances Inc. (US), Ashland Inc. (US), Evonik Industries AG (Germany), BASF SE (Germany), Kerry Group Plc (Ireland), Roquette Frères (France), Merck KgaA (Germany), Associated British Foods Plc (UK), ADM (US), Wacker Chemie AG (Germany).

The primary interviews conducted for this report can be categorized as follows:

  • By Respondent: Supply Side- 80%, and Demand Side - 20%
  • By Designation (Supply Side): Managers - 45%, CXOs & Directors - 30%, Executives- 25%
  • By Region: North America -20%, Europe -10%, Asia-Pacific -55%, Latin America -10%, MEA- 5%

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=956

Pharmaceutical Excipients Market Recent Developments:

  • In June 2023, Ashland introduced Polyplasdone Plus, a co-processed multifunctional direct compression superdisintegrant comprising a glidant and lubricant.
  • In October 2023, Lubrizol Life Science Health was awarded the Finished Formulation Award for Apisolex Polymer solubilizing excipient at CPhI Barcelona.
  • In July 2022, DFE Pharma announced the broadening of its Dry Powder Inhalation (DPI) portfolio by launching Lactohale 400.

Pharmaceutical Excipients Market - Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall pharmaceutical excipients market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Analysis of key drivers (Increasing demand for generic drugs and pharmaceutical products, increased R&D Investments for the development of novel excipients, growing emphasis on patient-centric formulations, collaborations and partnerships with pharmaceutical companies), restraints (Stringent Regulatory Requirements, High Development Costs), opportunities (Rising demand for functional/multifunctional pharmaceutical excipients, advancements in nanotechnology, emerging markets in Asia-Pacific and Latin America) and challenges (Safety & quality concerns, limited availability of certain raw materials) are influencing the growth of pharmaceutical excipients market.
  • Product Development/Innovation: Detailed insights on newly launched products of the pharmaceutical excipients market.
  • Functionality Apllication: Additional segment provided for functionality applications where segregation has been provided based on the applications of various excipients highlights the various uses of different excipients classes.
  • Market Development: Comprehensive information about lucrative markets – the report analyses the pharmaceutical excipients market across varied regions.
  • Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the pharmaceutical excipients market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players include International Flavors & Fragrances Inc. (US), Ashland Inc. (US), Evonik Industries AG (Germany), BASF SE (Germany), Kerry Group plc (Ireland), Roquette Frères (France), MERCK KGaA (Germany), Associated British Foods plc (UK), ADM (US), Wacker Chemie AG (Germany) and among others in the pharmaceutical excipients market.

Related Reports:

Autoinjectors Market - Global Forecasts to 2028

Active Pharmaceutical Ingredient Market - Global Forecasts to 2027

High Potency APIs Market - Global Forecasts to 2027

Pharmaceutical Drug Delivery Market - Global Forecasts to 2026

Wearable Injectors Market - Global Forecasts to 2026

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.



Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/pharma-excipients-market.asp

Visit Our Website: https://www.marketsandmarkets.com/

Content Source: https://www.marketsandmarkets.com/PressReleases/pharma-excipients.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/pharmaceutical-excipients-market-worth-14-9-billion--marketsandmarkets-302003000.html

By: PR Newswire Association LLC. - 01 Dec 2023
Back to overview

Enhance your business development with Biotechgate