Pharmaceutical Excipients Market by Product (Organic Chemicals (Carbohyrates, Petrochemicals) inorganic chemicals), Functionality (Fillers, Diluents, Coatings, Disintegrants), Formulation (Tablet, Capsule, Topical, Parenteral) - Global Forecast to 2025
“Increasing growth in the pharmaceutical drug market is expected to drive the growth of the pharmaceutical excipients market.”
The pharmaceutical excipients market is projected to reach USD 9.7 billion by 2025 from USD 6.9 billion in 2019, at a CAGR of 5.8%. The growth in this market can be attributed to factors such as the growing pharmaceuticals industry coupled with advancements in functional excipients, rising adoption of orphan drugs, and increasing uptake of biopharmaceuticals. However, certain barriers, such as the increasing regulatory stringency and the cost and time-intensive drug development process are expected to restrain the growth of this market to a certain extent during the forecast period.
“Organic chemicals segment to dominate the pharmaceutical excipients market in 2019.”
Based on product, the pharmaceutical excipients market is segmented into three major categories— organic chemicals, inorganic chemicals, and other chemicals. In 2018, the organic chemicals segment accounted for the largest share of the pharmaceutical excipients market. The large share of this segment can be attributed to the use of these chemicals in the majority of pharmaceutical formulations available in the pharmaceutical market. Also, the organic chemicals market had the highest CAGR above all.
“Advantages of topical drug delivery are driving demand for excipients in this segment.”
Based on formulation, the pharmaceutical excipients market is segmented into oral, topical, parenteral, and other formulations. Currently, there is a growing focus on the use of liposomes for the delivery of topical drugs. With this, there is a growing need for developing novel excipients that can improve the solubility and functionality of such formulations. Growth in this market segment is expected to play a major role in the growth of the pharmaceutical excipients market for topical formulations in the coming years.
“Europe accounted for the largest share of the market in 2018, whereas the Asia Pacific was the fastest growing market.”
The pharmaceutical excipients market is broadly divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, Europe accounted for the largest share of the global pharmaceutical excipients market. The large share of this region can be attributed to the presence of a number of pharmaceutical giants with large production capacities leading to high consumption of excipients. However, the Asia Pacific region is expected to be the fastest growing market. The factors driving the growth of this region can be attributed to the increase in outsourcing of drug manufacturing to specialized contract manufacturing organizations -CMOs, rising number of companies setting up manufacturing units in these countries, favorable government regulations, low labor & manufacturing costs, and the large base for the generation of generics & biologics. The Asia Pacific market is expected to have the highest CAGR during the forecast period.
The breakup of primary participants is as mentioned below:
By Company Type: Tier 1 - 48%, Tier 2 - 34%, and Tier 3 - 18%
By Designation: C-level - 42%, Director-level - 36%, and Others - 22%
By Region: Europe - 38%, North America - 34%, Asia Pacific - 17%, South America -7%, and the Middle East and Africa - 4%
The prominent players in the global pharmaceutical excipients market are Ashland Global Holdings, Inc. -US, BASF SE -Germany, DuPont de Nemours, Inc. -US, Roquette -France, Evonik Industries AG -Germany, Associated British Foods -UK, Archer Daniels Midland Company -US, Lubrizol Corporation -US, and Croda International -UK. Other players in this market are Innophos Holdings -US, Kerry Group -Ireland, WACKER Chemie AG -Germany, Colorcon -US, DFE Pharma -Germany, JRS Pharma -Germany, and Air Liquide S.A -France.
The report analyzes the pharmaceutical excipients market and aims at estimating the market size and future growth potential of this market based on various segments such as product, formulation, functionality, and region. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
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This report provides insights into the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the global pharmaceutical excipients market. The report analyzes this market by product, functionality, formulation, and region
Product Enhancement/Innovation: Detailed insights on the upcoming trends and product launches in the global pharmaceutical excipients market
Market Development: Comprehensive information on the lucrative emerging markets by product, functionality, formulation, and region
Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global pharmaceutical excipients market
Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of leading players in the global pharmaceutical excipients market
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