Pharmaceutical excipients are inactive substances added to drug formulations to aid in drug delivery enhance stability, and improve patient acceptance. Applications include tablets, capsules, injectable, and topical formulations. Key features involve binders, disintegrates, lubricants, and fillers. They ensure dosage uniformity, control drug release, and mask bitter tastes. Excipients improve drug solubility, bioavailability, and protect against environmental degradation. These multifaceted components play a crucial role in the pharmaceutical industry by enabling efficient drug development, enhancing patient compliance, and ensuring the safety and efficacy of medications.
According to Data Bridge Market Research the Global Pharmaceutical Excipients Market is expected to reach USD 12,199.90 million by 2029. The market is expected to grow with a CAGR of 6.6% in the forecast period of 2022 to 2029.
“Rise in generic drug production boosts the market’s growth”
The rise in generic drug production has a significant impact on the pharmaceutical excipients market's growth. Generic drugs require excipients, which are inactive substances added to formulations to aid drug delivery and stability. With the growing demand for cost-effective medications and patent expirations of branded drugs, the need for pharmaceutical excipients has surged. Additionally, advancements in drug development and manufacturing technologies have led to increased use of excipients, further driving the market's expansion to cater to the pharmaceutical industry's requirements.
What restraints the growth of the global pharmaceutical excipients market?
“Associated side effects restraints the market’s growth”
The pharmaceutical excipients market's growth is restrained by associated side effects. While excipients are generally considered inert, they may trigger allergic reactions or adverse effects in some individuals. These safety concerns necessitate rigorous testing and regulatory compliance, leading to increased scrutiny and potential limitations on excipient usage. Manufacturers also face challenges in finding suitable and safe excipients for specific drug formulations. As a result, concerns about side effects and regulatory compliance may hinder the market's growth, as companies seek safer and more effective excipient options.
Segmentation: Global Pharmaceutical Excipients Market
The global pharmaceutical excipients market is segmented on the basis of functionality, dosage forms, route of administration, end users, and distribution channel.
- On the basis of functionality, the global pharmaceutical excipients market is segmented into binders and adhesives, disintegrants, coating material, coloring agents, solubilizers, flavors, sweetening agents, diluents,Lubricants, buffers, emulsifying agents, preservatives, antioxidants, sorbents, solvents, emollients, glidents, chelating agents, antifoaming agents, and others.
- On the basis of dosage forms, the global pharmaceutical excipients market is segmented into solid, semi-solid, and liquid.
- On the basis of route of administration, the global pharmaceutical excipients market is segmented into oral pharmaceutical excipients, topical pharmaceutical excipients, parenteral pharmaceutical excipients, and other excipients.
- On the basis of end users, the global pharmaceutical excipients market is segmented into pharmaceutical and biopharmaceutical companies, contract formulators, research organizations and academics, others.
- On the basis of distribution channel, the global pharmaceutical excipients market is segmented into direct tender, retail sales, and others.
Regional Insights: North America dominates the Global Pharmaceutical Excipients Market
North America is dominating the market due to growth and is anticipated to receive a significant boost from increasing investments in R&D. The North America region, with a strong presence of key players such as Evonik, Dow, Croda International Plc, and others, is primarily dominated by the U.S. This is attributed to the country being the largest consumer market with a high GDP. Moreover, the U.S. is expected to experience growth due to continuous technological advancements in Healthcare IT.
China dominates the Asia-Pacific region because of the rise in generics production is a contributing factor. As the demand for cost-effective medications increases, the production of generic drugs expands. This growth trend benefits the pharmaceuticals market, offering more affordable treatment options to a larger population.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-pharmaceutical-excipients-market
Recent Developments
- In February 2022, Kerry Group Plc., a prominent taste and nutrition company, made two significant biotechnology acquisitions to expand its expertise, technology portfolio, and manufacturing capabilities. The acquisitions of c-LEcta, a biotechnology innovation firm specializing in precision fermentation, and Enmex, a well-established Mexican enzyme manufacturer, have bolstered the company's revenue growth by providing various bio-process solutions for food, beverage, and animal nutrition market.
- In September 2022, DFE Pharma, a renowned global provider of pharma- and nutraceutical excipient solutions, recently inaugurated its "Closer to the Formulator" (C2F) Center of Excellence in Hyderabad, India. The C2F facility enables pharmaceutical companies to accelerate their product development process, benefiting from DFE Pharma's expertise in all stages of pharmaceutical development. With this strategic move, DFE Pharma highlights its advancements in the industry, showcasing its commitment to enhancing formulation solutions and supporting the pharmaceutical sector's growth.
The Prominent Key Players Operating in the Global Pharmaceutical Excipients Market Include:
- Kerry Group plc (Ireland)
- DFE Pharma (Netherlands)
- Cargill, Incorporated (U.S.)
- Pfanstiehl (U.S.)
- Colorcon (U.S.)
- MEGGLE GmbH & Co. KG (Germany)
- Roquette Frères (France)
- The Lubrizol Corporation (U.S.)
- BASF SE (Germany)
- Avantor, Inc. (U.S.)
- BENEO (Belgium)
- Chemie Trade (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of global pharmaceutical excipients market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Pharmaceutical Excipients Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
