The Pharmaceutical Excipients Market Size was valued at USD 8.58 billion in 2022 and is expected to reach USD 13.68 billion by 2030, and grow at a CAGR of 6% over the forecast period 2023-2030.
The pharmaceutical excipients market plays a crucial role in the development and manufacturing of various pharmaceutical products. Excipients are inactive substances that are added to medications to enhance their stability, bioavailability, and overall effectiveness.
One of the key drivers behind the growth of the pharmaceutical excipients market is the increasing demand for novel drug delivery systems. Excipients are used to formulate different dosage forms such as tablets, capsules, creams, and gels. They help in controlling the release of active ingredients, improving drug solubility, and ensuring targeted drug delivery. As pharmaceutical companies continue to invest in research and development for innovative drug delivery technologies, the demand for excipients is expected to rise significantly.
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Another factor contributing to the expansion of this market is the growing focus on patient safety and regulatory compliance. Excipients play a critical role in ensuring that medications are safe for consumption by patients. They help in stabilizing drugs, preventing degradation, and reducing adverse reactions. With stringent regulations imposed by regulatory authorities worldwide, pharmaceutical manufacturers are increasingly required to comply with safety standards and guidelines. This has led to a greater demand for excipients that meet these regulatory requirements. Additionally, the emphasis on patient safety has prompted pharmaceutical companies to invest in research and development of innovative excipients that enhance drug efficacy and minimize potential risks. As a result, the excipients market is witnessing significant growth as manufacturers strive to meet the evolving needs of the healthcare industry.
KEY MARKET SEGMENTS
by Function
- Fillers and diluents
- Binders
- Coatings
- Flavoring agents
- Disintegrants
- Colorants
- Others
by Type
- Inorganic Chemicals
- Organic Chemicals
by Type of Formulation
- ORAL FORMULATIONS
- TOPICAL FORMULATIONS
- PARENTERAL FORMULATIONS
- OTHER FORMULATIONS
Major Players Listed in the Report are as Follows:
Akzo Nobel N.V., Evonik, Merck, J.M. Huber Corporation, Dow Chemicals Corporation, Merck Millipore, Croda International, and Archer Daniels Midland,Ashland, Inc., BASF SE, Associated British Foods Plc and Other Player
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