Global Pharmaceutical Excipients Market Insights Forecasts to 2033

• The Global Pharmaceutical Excipients Market Size was Valued at USD 9.56 Billion in 2023
• The Market Size is Growing at a CAGR of 6.54%  from 2023 to 2033
• The Worldwide Pharmaceutical Excipients Market Size is Expected to Reach USD 18.01 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Pharmaceutical Excipients Market Size is Anticipated to Exceed USD 18.01 Billion by 2033, Growing at a CAGR of 6.54% from 2023 to 2033.  

Market Overview

Inert substances called pharmaceutical excipients are combined with active pharmaceutical ingredients (APIs) to generate medication formulations. They improve patient acceptability and facilitate drug distribution, among other things. They also increase drug stability, solubility, and bioavailability. Different types of excipients can be distinguished, such as lubricants, coatings, disintegrates, binders, fillers, and preservatives. Gelatin and polyethylene glycol are two examples of the many excipients used in the manufacturing of soft gel, hard capsules, ointments, solvents, and other products. Similarly, sweetening agents are excipients that are frequently added to pharmaceutical dosages to improve the drug's accessibility and mask the unpleasant taste of the partially dissolved medication. Another common pharmaceutical excipient in enteric-coated drug delivery systems is cellulose esters. Excipients have been used by pharmaceutical companies more frequently in recent years due to their enhanced functionality and ability to give them a competitive advantage in drug formulations. The market benefits from ongoing research into and the discovery of optimal or nearly ideal chemicals that can be used in therapeutic formulations and delivery. The majority of pharmaceutical companies have been creating more advanced excipients with a greater involvement in medication delivery, which is another element fueling their global growth.

Report Coverage

This research report categorizes the market for the global pharmaceutical excipients market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global pharmaceutical excipients market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global pharmaceutical excipients market.

Driving Factors

Rising demand for multifunctional excipients and the growing use of generic medications are anticipated to be the main drivers of revenue growth. The market for pharmaceutical excipients has grown due in large measure to the following factors a greater focus on patient-centric formulations, increased investment in research and development for the creation of novel excipients, and growing demand for generic medications and drug products. Additionally, the study found that partnerships and industry collaborations for customized excipients are likely to support market growth.

Restraining Factors

Several significant barriers, including the costly and prolonged drug development process and the growing regulatory strictness surrounding the approval of pharmaceuticals and excipients, could impede the increase of market revenue. Furthermore, increasing regulatory rigorousness about the approval of pharmaceuticals and excipients is another factor that may limit the increase of market growth.

Market Segmentation

The global pharmaceutical excipients market share is classified into product, formulation, and functionality.

• The organic chemicals segment dominates the market with the largest market share through the forecast period.

Based on the product, the global pharmaceutical excipients market is categorized into inorganic chemicals and organic chemicals. Among these, the organic chemicals segment dominates the market with the largest market share through the forecast period. Carbon atoms covalently bonded to atoms of other elements make up the majority of organic pollutants. Growing indications people have towards natural and organic products are primarily driving the demand for organic pharmaceutical excipients that come from natural sources such as carbohydrates, proteins, and plant-based polymers.

• The oral formulation segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the formulation, the global pharmaceutical excipients market is categorized into tablets formulation, capsules formulation, parenteral formulation, liquid formulation, oral formulation, and others. Among these, the oral formulation segment is anticipated to grow at the fastest CAGR growth through the forecast period. Patients prefer oral forms, like pills and capsules, to be more convenient to ingest and ensure precise dosage. To create solid dosage forms that are easy to swallow and offer a regulated release of the active pharmaceutical ingredient (API), excipients are essential to the formulation process. This helps to improve patient compliance.

• The binders segment accounted for the largest revenue share through the forecast period.

Based on the functionality, the global pharmaceutical excipients market is categorized into binders, fillers & diluents, suspending and viscosity agent, preservatives, flavoring agents and sweeteners, coating agents, and others. Among these, the binders segment accounted for the largest revenue share through the forecast period. Binders play a vital role in enhancing the holding power of compounds in tablets and granules. Binders are used either in a solution or a dry condition, depending on the compounds in the formulation and the process used to generate the dosage form.

Regional Segment Analysis of the Global Pharmaceutical Excipients Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global pharmaceutical excipients market over the predicted timeframe.

Asia Pacific is projected to hold the largest share of the global pharmaceutical excipients market over the forecast period. Pharmaceutical companies have made large investments in these nations due to their cost advantages. The region's strong market growth is also attributed to the increasing incidence of age- and lifestyle-related illnesses, increased disposable income, and government programs to upgrade healthcare facilities. The cheap cost of labor in the area and the low cost of raw materials are two major factors that can propel the pharmaceutical excipients industry. Over the forecast period, there are enormous opportunities for market expansion from nations like China and India.

Europe is expected to grow at the fastest CAGR growth in the global pharmaceutical excipients market during the forecast period. Excipient consumption in the region is on the rise, mainly due to the arrival of large pharmaceutical companies with substantial production capacities. With the pharmaceutical business depending more and more on biosimilar, generic drugs, and cutting-edge pharmaceuticals, the necessity for creative excipient ingredients is driving up the use of excipients.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global pharmaceutical excipients market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Lubrizol Corporation
• Avantor Performance Materials, LLC
• Valeant
• Ashland Inc.
• The Dow Chemical Co.
• Eastman Chemical Corporation
• Univar Solutions Inc.
• Evonik Industries AG
• Roquette Group
• Signet Chemical Corporation Pvt. Ltd
• P&G Chemicals
• Finar Limited
• Wacker Chemie AG
• FMC Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2023, At CPhI Barcelona, Lubrizol Life Science Health received the Finished Formulation Award to recognize its Apisolex Polymer Solubilizing Excipient.

• In September 2023, Based in the United States to prevent moisture from damaging tablets, Colorocon introduced their Opadry film coating technique, which is free of titanium dioxide (TiO2).

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global pharmaceutical excipients market based on the below-mentioned segments: 

Global Pharmaceutical Excipients Market, By Product

• Inorganic Chemicals
• Organic Chemicals

Global Pharmaceutical Excipients Market, By Formulation

• Tablets Formulation
• Capsules Formulation
• Parenteral Formulation
• Liquid Formulation
• Oral Formulation
• Others

Global Pharmaceutical Excipients Market, By Functionality

• Binders
• Fillers & Diluents
• Suspending and Viscosity Agent
• Preservatives
• Flavoring Agents and Sweeteners
• Coating Agents
• Others

Global Pharmaceutical Excipients Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa