Global Pharmaceutical Excipients Market Size Expands at Significant CAGR of 5.82% to Reach USD 13.21 Billion by 2030

Published | 08 February 2024

Global Pharmaceutical Excipients Market is flourishing because of the rising demand for pharmaceuticals and increasing shift towards generic drugs.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Pharmaceutical Excipients Market size at USD 8.89 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Pharmaceutical Excipients Market size to expand at a CAGR of 5.82% reaching a value of USD 13.21 billion by 2030. Growing demand for pharmaceutical products and generic medications and increasing investments in R&D programs to create innovative excipients, are key driving factors for the global pharmaceutical excipients market. An increasing emphasis on patient-centric formulations is also projected to drive the Global Pharmaceutical Excipients Market.

Opportunity: Launch of innovative pharmaceutical excipients

The rising investments in the R&D sector for the development of novel excipients and the launch of new products are anticipated to present lucrative growth opportunities to the global pharmaceutical excipients market during the forecast period. For instance, Roquette, a pharmaceutical and nutraceutical excipients manufacturer, launched three new excipient grades for moisture-sensitive active pharmaceutical ingredients. In another instance, Clariant, a multinational specialty chemical company based in Switzerland, introduced high performing pharmaceutical ingredients that allow for a wide range of active pharmaceutical ingredient (API) formulations and administration routes.

Impact of Escalating Geopolitical Tensions on Global Pharmaceutical Excipients Market

The escalating geopolitical tensions negatively impacted the growth of the global pharmaceutical excipients market. For instance, Ukraine is a flourishing pharmaceutical excipient manufacturer and has been significantly investing in the field of medical research as well. However, Russia’s invasion of Ukraine completely disrupted the growth of the Ukrainian pharmaceutical industry. The shortage of resources, supply chain disruption on Western borders, and seaport blockade due to the war led to low production capacities in the pharmaceutical industry, significantly altering the demand for pharmaceutical excipients as well. In addition, collaborative research projects and global alliances that are essential for medication development may come under pressure after the crisis in Ukraine, which might impede advancements in the sector.

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Global Pharmaceutical Excipients Market

Segmental Coverage

Global Pharmaceutical Excipients Market – By Functionality

Based on functionality, the Global Pharmaceutical Excipients Market is segmented into fillers & diluents, binders, coating agents, flavoring agents, disintegrants, colorants, preservatives, and others. The binders segment accounts for the highest market share. Binders are added to formulations to increase bonding between particles or to give them flexibility. An essential function of binders is to enhance the grip of compounds in tablets and granules. They ensure that the formulations are created in the required quantity and physical strength. The function of pharmaceutical excipients as coating agents is anticipated to register the highest growth rate during the forecast period.

Global Pharmaceutical Excipients Market – By Region

The in-depth research report on the Global Pharmaceutical Excipients Market covers a number of country-specific markets across five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. Europe dominates the Global Pharmaceutical Excipients Market owing to the presence of major pharmaceutical manufacturers and rising excipient consumption in the region. The Asia Pacific region is anticipated to register the highest CAGR during the forecast period. These areas are also a rich source of raw materials for the production of excipients and facilitate low-cost manufacturing procedures, which drives overall market growth.

Competitive Landscape

Major players operating in the Global Pharmaceutical Excipients Market include Kerry Group plc, Merck KGaA, ADM, Dupont, Evonik Industries AG, Ashland Inc., Pharmaceutical Excipients, JRS PHARMA, Ankit Pulps and Boards Pvt Ltd, and Sigachi Industries.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global Pharmaceutical Excipients Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Pharmaceutical Excipients Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Pharmaceutical Excipients Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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