April, 2023
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The global pharmaceutical excipients market continues to offer significant revenues for companies, driven by increasing launch of functional excipients, R&D investments in diverse types, forms, and raw materials of pharmaceutical excipients. The pharmaceutical excipients market study presents an in-depth analysis of Polymers, Alcohols, Sugar, Minerals, Gelatin, and other pharmaceutical excipient types. Further, key raw materials used in the pharmaceutical excipients manufacturing including organic chemicals, inorganic chemicals, and others. Further, based on the functionality, Binders and fillers, Coating agents, Disintegrants, Flavoring agents and colorants, Lubricants, Preservatives and anti-oxidants, Sweeteners, and Others are assessed and forecasted in the research work. Further, leading 10 company profiles and country-specific forecasts are given for 25+ countries.
Introduction to Pharmaceutical Excipients Industry
As drug formulations are marketed in various forms including capsules, tablets, soft gels, topical creams, patches, injections, implants, inhalers, and others, the demand for efficient pharmaceutical excipients is increasingly observed. Excipients with superior properties supporting the manufacturing process, providing drug protection, improved stability, bioavailability, and extended safety profile are gaining wide market penetration.
Pharmaceutical excipients perform a wide range of functions in medicines such as diluents, Binders, compression aids, granulating agents, disintegrants, glidants, lubricants, coloring agents, coatings, and films. Both natural and synthetic pharmaceutical excipients are poised to gain sift market growth over the forecast period to 2030. In addition, rapid demand growth for functional excipients is likely to shape the future of the global pharmaceutical excipients industry.
Investments in innovation and reliable performance are among the key factors marketed by companies manufacturing pharmaceutical excipients. With the growing demand for controlled-release drugs, leading vendors are focusing on pharmaceutical excipients in diverse forms such as capsules, tablets, gels, and barrier-coated multiparticulates.
Global pharmaceutical excipients market size outlook
The drive towards innovative drug delivery systems is encouraging the market for pharmaceutical excipients. Novel excipients that can improve the quality of drugs have robust growth potential. In addition, modified and co-processed excipients are also largely introduced in the industry.
The pharmaceutical excipients market size is valued at $9,738 million in 2022. The market witnessed a swift recovery from the COVID-19 pandemic effect during the last two quarters of 2021 and the first few quarters of 2022. Further, the post-pandemic forecasts remain robust for both the near-term and long-term future. Between 2022 and 2030, the global pharmaceutical excipients market size is expected to increase from $9,738 million to $16,227 million, at a 6.59% growth rate, compounded annually.
The market growth outlook will be driven predominantly by emerging countries. Around two-thirds of global medicine consumption, in volume terms, is observed in emerging markets. A large portion of the medicine sales in these markets will be generic, supporting the demand for cost-effective pharmaceutical excipient producers.
On the other hand, worldwide, pharmaceutical excipient vendors continue to face pricing pressures, intense competitive conditions, and shrinking profit margins.
The chart below depicts the market size for pharmaceutical excipients from 2021 to 2030, in value terms, at the global level along with the year-on-year growth rate-
Pharmaceutical Excipients Market Trends- Ongoing R&D investments in the development of novel excipients
A significant volume of unmet demand supports R&D investments. Several small and medium companies, academic institutions, and research organizations are focusing on developing new pharmaceutical excipients. A vast majority of the research work is focused on modified excipients, where pre-approved excipients are combined without chemical changes to obtain the desired functionality. In addition, a significant volume of R&D investment is devoted to developing novel excipients. Further, biotechnologically or biologically derived substances are also widely researched across markets. However, the stringent regulatory framework for the marketing of novel excipients restrains investments in R&D for new products.
Pharmaceutical Excipients Market Share Analysis- Organic chemicals hold the dominant market share
Diverse types of raw materials varying in origin, chemistry, and physiochemical properties are marketed worldwide. The global pharmaceutical excipients market report provides an analysis of different product types including the Organic chemicals derived pharmaceutical excipient market, Inorganic chemicals-derived pharmaceutical excipient market, and others. Of the three product types, the organic chemicals segment held the dominant market share of 82.4% in 2022.
Pharmaceutical Excipients Market Dynamics- Increasing demand for functional excipients
Strong demand growth for functional excipients is set to drive the market for pharmaceutical excipients. The steady growth in manufacturing activity is driving the need for high-performance excipients, which is driving up modifications to monographed ingredients, development of cell cultures used in biologics, development of multi-functional excipients with superior formulation possibilities, and delivery flexibility, enhanced drug solubility, and bioavailability and others.
In addition, to strengthen the manufacturing process including yield improvement, aggregation prevention, and achieving consistency in product quality, the need for functional excipients is increasingly observed. The advent of nanotechnology and biotechnology fields will further augment the investments in functional excipients.
Pharmaceutical Excipients Market Segmentation- Polymers are the leading products
Polymers are the dominant product types in pharmaceutical excipients during 2022, accounting for 45.2% of the global market share. Driven by the multi-functionality of polymers, and long shelf life, the demand for polymers remains robust across formulations. Other leading types of pharmaceutical excipient products analyzed in the report include sugars and alcohol. In addition, a small share of the global market is held by minerals and gelatin.
Global pharmaceutical excipients market outlook by functionality
Key functions of pharmaceutical excipients analyzed in the report include- binders and fillers, coating agents, disintegrants, flavoring agents and colorants, lubricants, preservatives and anti-oxidants, sweeteners, and others. Of these, the binders and fillers segment accounted for the largest market share during 2022, accounting for over 45.8% market share, in market revenue terms.
The chart below presents the comparison of the growth rates of different functionalities of pharmaceutical excipients for 2030. The growth rate represents the compounded annual growth rate (CAGR) in percentage terms, between 2022 and 2030-
Global pharmaceutical excipients Competitive Landscape
The pharmaceutical excipients' competitive space is characterized by the presence of large and capital-intensive companies. With new product launches as the critical success factor, expansion through both organic and inorganic growth strategies is widely observed in the industry.
The industry is characterized by the presence of leading players such as Eastman Chemical Corp, P&G Chemicals, Avantor Performance Materials, Huntsman Corp, BASF SE, Ashland Inc., FMC Corp, Roquette, Colorcon, Lubrizol Corp, and others. In addition to large companies, the industry is also characterized by the presence of several small-scale local companies.
Global companies are expanding their production bases across emerging markets to gain from low-cost advantages, labor availability, and proximity to consumer markets.
Global pharmaceutical excipients Market Segmentation
Raw Materials
Types
Functionality
Companies
Region
1. Executive Summary
1.1 Introduction to Pharmaceutical Excipients Markets
1.2 Pharmaceutical Excipients Market Size Outlook, 2021- 2030
1.3 Growth Opportunities in Pharmaceutical Excipients Industry
1.4 Winning Strategies for the post-pandemic future
2. Report Guide
2.1 Market Definition and Scope
2.2 Market Segmentation
2.3 Research Methodology
2.4 Forecast Methodology
2.5 List of Abbreviations
3. Growth Opportunity Analysis
3.1 Key Pharmaceutical Excipients Market Trends
3.1.1 Robust demand for functional excipients
3.1.2 Growth in generics market
3.1.3 Strong demand from biosimilars
3.2 Key Pharmaceutical Excipients Market Growth Drivers
3.2.1 Investments in biopharmaceuticals market
3.2.2 Ongoing R&D investments in the development of novel excipients
3.2.3 Focus on Emerging Countries
3.3 Key Pharmaceutical Excipients Market Growth Restraints
3.3.1 High Costs of developing new products
3.3.2 Stringent regulatory Constraints
4 Pharmaceutical Excipients Market Outlook – Scenario Analysis
4.1 Low Growth Case Scenario Forecasts: Pharmaceutical Excipients Market Size Outlook to 2030
4.2 Reference Growth Case Scenario Forecasts: Pharmaceutical Excipients Market Size Outlook to 2030
4.3 High Growth Case Scenario Forecasts: Pharmaceutical Excipients Market Size Outlook to 2030
5. Pharmaceutical Excipients Market Segmentation- Outlook by Raw Material
5.1 Pharmaceutical Excipients Market Share Analysis by Raw Material, 2023
5.2 Organic Chemicals Market Outlook to 2030
5.3 Inorganic Chemicals Market Outlook to 2030
5.4 Other Raw Materials Market Outlook to 2030
6. Pharmaceutical Excipients Market Segmentation- Outlook by Type
6.1 Pharmaceutical Excipients Market Share Analysis by Type, 2023
6.2 Polymers: Pharmaceutical Excipients Market Outlook to 2030
6.3 Alcohols: Pharmaceutical Excipients Market Outlook to 2030
6.4 Sugar: Pharmaceutical Excipients Market Outlook to 2030
6.5 Minerals: Pharmaceutical Excipients Market Outlook to 2030
6.6 Gelatin: Pharmaceutical Excipients Market Outlook to 2030
6.7 Others
7. Pharmaceutical Excipients Market Segmentation- Outlook by Functionality
7.1 Pharmaceutical Excipients Market Share Analysis by Functionality, 2023
7.2 Binders and fillers Market Outlook to 2030
7.3 Coating agents Market Outlook to 2030
7.4 Disintegrants Market Outlook to 2030
7.5 Flavoring agents and colorants Market Outlook to 2030
7.6 Lubricants Market Outlook to 2030
7.7 Preservatives and anti-oxidants Market Outlook to 2030
7.8 Sweeteners Market Outlook to 2030
7.9 Others
8. North America Pharmaceutical Excipients Market Outlook and Opportunities to 2030
8.1 Market Snapshot, 2023
8.2 North America Pharmaceutical Excipients Market Growth Opportunities
8.2.1 North America Pharmaceutical Excipients Market Outlook by Type, 2021 to 2030
8.2.2 North America Pharmaceutical Excipients Market Outlook by Application, 2021 to 2030
8.2.3 North America Pharmaceutical Excipients Market Outlook by Country, 2021 to 2030
8.3 United States Pharmaceutical Excipients Market Outlook, 2021 to 2030
8.4 Canada Pharmaceutical Excipients Market Outlook, 2021 to 2030
8.5 Mexico Pharmaceutical Excipients Market Outlook, 2021 to 2030
9. Europe Pharmaceutical Excipients Market Outlook and Opportunities to 2030
9.1 Market Snapshot, 2023
9.2 Europe Pharmaceutical Excipients Market Growth Opportunities
9.2.1 Europe Pharmaceutical Excipients Market Outlook by Type, 2021 to 2030
9.2.2 Europe Pharmaceutical Excipients Market Outlook by Application, 2021 to 2030
9.2.3 Europe Pharmaceutical Excipients Market Outlook by Country, 2021 to 2030
9.3 Germany Pharmaceutical Excipients Market Outlook, 2021 to 2030
9.4 France Pharmaceutical Excipients Market Outlook, 2021 to 2030
9.5 United Kingdom Pharmaceutical Excipients Market Outlook, 2021 to 2030
9.6 Spain Pharmaceutical Excipients Market Outlook, 2021 to 2030
9.7 Italy Pharmaceutical Excipients Market Outlook, 2021 to 2030
9.8 Other Europe Pharmaceutical Excipients Market Outlook, 2021 to 2030
10. Asia Pacific Pharmaceutical Excipients Market Outlook and Opportunities to 2030
10.1 Market Snapshot, 2023
10.2 Asia Pacific Pharmaceutical Excipients Market Growth Opportunities
10.2.1 Asia Pacific Pharmaceutical Excipients Market Outlook by Type, 2021 to 2030
10.2.2 Asia Pacific Pharmaceutical Excipients Market Outlook by Application, 2021 to 2030
10.2.3 Asia Pacific Pharmaceutical Excipients Market Outlook by Country, 2021 to 2030
10.3 China Pharmaceutical Excipients Market Outlook, 2021 to 2030
10.4 Japan Pharmaceutical Excipients Market Outlook, 2021 to 2030
10.5 India Pharmaceutical Excipients Market Outlook, 2021 to 2030
10.6 South Korea Pharmaceutical Excipients Market Outlook, 2021 to 2030
10.7 Indonesia Pharmaceutical Excipients Market Outlook, 2021 to 2030
10.8 Other Asia Pacific Pharmaceutical Excipients Market Outlook, 2021 to 2030
11. South and Central America Pharmaceutical Excipients Market Outlook and Opportunities to 2030
11.1 Market Snapshot, 2023
11.2 South and Central America Pharmaceutical Excipients Market Growth Opportunities
11.2.1 South and Central America Pharmaceutical Excipients Market Outlook by Type, 2021 to 2030
11.2.2 South and Central America Pharmaceutical Excipients Market Outlook by Application, 2021 to 2030
11.2.3 South and Central America Pharmaceutical Excipients Market Outlook by Country, 2021 to 2030
11.3 Brazil Pharmaceutical Excipients Market Outlook, 2021 to 2030
11.4 Argentina Pharmaceutical Excipients Market Outlook, 2021 to 2030
11.5 Other Latin America Pharmaceutical Excipients Market Outlook, 2021 to 2030
12. Middle East and Africa Pharmaceutical Excipients Market Outlook and Opportunities to 2030
12.1 Market Snapshot, 2023
12.2 Middle East and Africa Pharmaceutical Excipients Market Growth Opportunities
12.2.1 Middle East and Africa Pharmaceutical Excipients Market Outlook by Type, 2021 to 2030
12.2.2 Middle East and Africa Pharmaceutical Excipients Market Outlook by Application, 2021 to 2030
12.2.3 Middle East and Africa Pharmaceutical Excipients Market Outlook by Country, 2021 to 2030
12.3 Saudi Arabia Pharmaceutical Excipients Market Outlook, 2021 to 2030
12.4 United Arab Emirates (the UAE) Pharmaceutical Excipients Market Outlook, 2021 to 2030
12.5 Other Middle East Pharmaceutical Excipients Market Outlook, 2021 to 2030
12.6 Egypt Pharmaceutical Excipients Market Outlook, 2021 to 2030
12.7 South Africa Pharmaceutical Excipients Market Outlook, 2021 to 2030
12.8 Other Africa Pharmaceutical Excipients Market Outlook, 2021 to 2030
13. Profiles of major world Pharmaceutical Excipients Companies
13.1 Eastman Chemical Corp
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.2 P&G Chemicals
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.3 Avantor Performance Materials
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.4 Huntsman Corp
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.5 BASF SE
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.6 Ashland Inc
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.7 FMC Corp
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.8 Roquette
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13.9 Colorcon
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13.10 Lubrizol Corp
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
14. Appendix
14.1 Publisher’s Expertise
14.2 List of Tables and Charts
14.3 List of Exhibits
14.4 Legal Disclaimer
Robust demand for functional excipients, Growth in generics market, Strong demand from biosimilars, Investments in biopharmaceuticals market, Ongoing R&D investments in the development of novel excipients, and focus on Emerging Countries.
The pharmaceutical excipients market size is valued at $9,738 million in 2022.
Between 2022 and 2030, the global pharmaceutical excipients market size is expected to increase from $9,738 million to $16,227 million, at a 6.59% growth rate, compounded annually.
Eastman Chemical Corp, P&G Chemicals, Avantor Performance Materials, Huntsman Corp, BASF SE, Ashland Inc, FMC Corp, Roquette, Colorcon, and Lubrizol Corp
Multi-functional excipients are the future market growth drivers across applications