Pharmaceutical Excipients Market

1
Global Pharmaceutical Excipients Market Is
Estimated To Witness High Growth Owing To
Increasing Demand for Drug Delivery Systems and
Technological Advancements
Pharmaceutical Excipients Market
The global Pharmaceutical Excipients Market is
estimated to be valued at USD 8.6 billion in 2022
and is expected to exhibit a CAGR of 5.9 over
the forecast period 2022-2027, as highlighted in
a new report published by Coherent Market
Insights.
A) Market Overview
Pharmaceutical excipients are inactive substances
that are added to pharmaceutical formulations
with the aim of enhancing the stability,
solubility, bioavailability, and safety of active
pharmaceutical ingredients (APIs). These
excipients are crucial for the manufacturing and
formulation of various types of drugs such as
tablets, capsules, and liquids. They play a
crucial role in drug delivery systems, ensuring
the effective administration of medications to
patients. With the advancements in drug delivery
technologies and the growing focus on
personalized medicine, the demand for
pharmaceutical excipients is expected to witness
significant growth in the coming years.
2
B) Market Dynamics
The pharmaceutical excipients market is driven by
several factors, including
1. Increasing demand for drug delivery systems
The rising need for advanced drug delivery
systems, such as controlled-release formulations
and targeted drug delivery, is driving the demand
for pharmaceutical excipients. These excipients
help in improving drug stability,
bioavailability, and release profile, thereby
enhancing the efficacy of the medication.
2. Technological advancements The pharmaceutical
industry is witnessing rapid technological
advancements, including the development of novel
excipients with improved functionalities. For
instance, the incorporation of nanotechnology in
pharmaceutical excipients has led to the
development of nanocrystals, nanoparticles, and
nanoemulsions, which offer improved drug
solubility and bioavailability.
C) Segment Analysis
The pharmaceutical excipients market can be
segmented based on type into organic and
inorganic excipients. Currently, organic
excipients dominate the market, accounting for
the largest market share. The dominance can be
attributed to the widespread use of organic
excipients, such as cellulose derivatives,
sugars, and polyols, in various pharmaceutical
formulations.
D) PEST Analysis
- Political The pharmaceutical excipients market
is influenced by government regulations and
policies related to drug manufacturing and safety
standards.
- Economic The growing pharmaceutical industry
and increasing investments in research and
development activities are driving the market
growth.
- Social The rising healthcare expenditure,
increasing prevalence of chronic diseases, and
aging population are contributing to the demand
for pharmaceutical excipients.
- Technological Technological advancements in
drug delivery systems and the development of
innovative excipients are shaping the market
dynamics.
E) Key Takeaways
- The global pharmaceutical excipients market is
expected to witness high growth, exhibiting a
CAGR of 5.9 over the forecast period, due to
increasing demand for drug delivery systems and
technological advancements.
3
- North America is the fastest-growing region in
the pharmaceutical excipients market, owing to
the presence of key pharmaceutical companies and
high healthcare expenditure in the region.
- Key players operating in the global
pharmaceutical excipients market include MEGGLE
Excipients Technology, Innophos Holdings Inc.,
Lubrizol Corporation, Roquette Group, Ashland
Inc., Croda International PLC, Evonik Industries
AG, FMC Corporation, DOW Chemical Company, and
BASF SE.
In conclusion, the global pharmaceutical
excipients market is expected to witness
substantial growth due to the increasing demand
for drug delivery systems and technological
advancements. The market is driven by factors
such as the rising need for advanced drug
formulations and the development of innovative
excipients. North America is projected to be the
fastest-growing region, and key players in the
market are focused on research and development
activities to introduce new and improved
excipients.