Pharmaceutical Excipients Market Overview
The market is growing at a CAGR of 6.01% during the forecast period. The major growth factors of the pharmaceutical excipients market include the increasing demand for functionality excipients, recent patents expiries driving the demand for pharmaceutical excipients, and rapid advancements in nanotechnology. Excipients are the pharmacologically inactive substances of the formulation that aid in the manufacturing of the finished pharmaceutical product. They also help in transporting the active pharmaceutical substance to the site of action in the body. Excipients are becoming an important aspect in tablet manufacture as they provide enhanced functionality to pharmaceuticals, aid in drug development and innovation, and help improve patent life, all at a lower cost.
Pharmaceutical Excipients Market - Geographical Overview
North America accounted for the largest share in the pharmaceutical excipients market
North America is found to hold a major share of the pharmaceutical excipients market and is expected to show a similar trend over the forecast period. The United States excipient industry is expected to evolve closely, along with the progress of the pharmaceutical industry, as new active pharmaceutical ingredients are developed and novel technologies are adopted (i.e., novel drug delivery systems). In the United States, at the macro-level, the rising global demand for pharmaceuticals has fueled the growth of drug production, and consequently, excipient consumption.
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Key Highlights of the Pharmaceutical Excipients Market
- The pharmaceutical excipients market is fragmented, owing to the presence of a large number of small and big companies.
- The Asia-Pacific region is witnessing the fastest growth rate (CAGR) during the forecast period.
- The binders segment under functionality-wise segmentation is expected to be the second-largest market over the forecast period. Major market players, such as the Roquette Group, have manufactured multiple pharmaceutical binders with different degrees of water solubility or dispersibility.
List of Key Players in the Pharmaceutical Excipients Market
- BASF SE
- Roquette Frères
- Evonik Industries AG
- Associated British Foods PLC
- The Lubrizol Corporation
- Archer Daniels Midland Company
- Croda International PLC
*List Not Exhaustive
Related Reports & Links
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Mordor Intelligence has segmented the global pharmaceutical excipients market on the basis of Product Type, Functionality, and Geography:
- Product Type (Market Size & Forecast (2018-2026) in USD billion)
- Inorganic Chemicals
- Organic Chemicals
- Functionality Type (Market Size & Forecast (2018-2026) in USD billion)
- Fillers and Diluents
- Suspension and Viscosity Agents
- Flavoring Agents
- Other Functionalities
- Geography (Market Size & Forecast (2018-2026) in USD billion)
- North America
- United States
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
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