- Pharmaceutical excipients are essential, non-active substances used in drug formulations to improve stability, bioavailability, and patient compliance. They play a crucial role in drug manufacturing, serving as binders, fillers, coatings, and stabilizers
- The demand for pharmaceutical excipients is significantly driven by the rising prevalence of chronic diseases, increasing generic drug production, and advancements in drug delivery technologies
- North America dominates the pharmaceutical excipients market, with share of 39.8% of the global pharmaceutical excipients market driven by its advanced pharmaceutical manufacturing capabilities, high healthcare expenditure, and strong presence of key market players
- Asia pacific market holds a share of 30.4% of the global pharmaceutical excipients market, driven by rapid expansion in pharmaceutical manufacturing, rising healthcare expenditures, and growing demand for cost-effective drug formulations
- Binders and adhesives are expected to dominate the pharmaceutical excipients market with the largest share of 56.72% in 2023, driven by their critical role in tablet and capsule formulations. These excipients provide structural integrity and ensure uniformity in drug content, supporting consistent therapeutic outcomes
