The global pharmaceutical excipients market size is expected to grow from $8.13 billion in 2021 to $8.60 billion in 2022 at a compound annual growth rate (CAGR) of 5.9%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The pharmaceutical excipient market is expected to reach $10.88 billion in 2026 at a CAGR of 6.0%.
What is the Global Pharmaceutical Excipients Market?
The pharmaceutical excipients market consists of sales of pharmaceutical excipients and related services. The excipient is a substance, not an active pharmaceutical ingredient (API) that has been evaluated for safety, and intentionally added in a drug delivery system. Excipient's major roles are to protect, support, enhance stability, bioavailability, patient acceptability, and assist in the effectiveness. The market consists of revenue generated by the company’s manufacturing the pharmaceutical excipients by the sales of these excipients.
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What drives the Global Pharmaceutical Excipients Market?
The global surge in the sale of generic drugs contributed to the growth of the pharmaceutical excipients market. Generic drugs are alternatives to the marketed brand name drug in the same dosage form, safety, strength, and route of administration and quality. According to India Brand Equity Foundation (IBEF), India is the largest provider of generic medicines, the country’s generic drugs account for 20% of the global generic drug exports. Indian pharmaceutical companies received 300 generic drug approvals in the USA. The surge in the demand for generic drugs drives the pharmaceutical excipients market.
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Global Pharmaceutical Excipients Market Segments
The global pharmaceutical excipients market is segmented:
By Functionality: Fillers and Diluents, Suspending and Viscosity Agents, Coating Agents, Binders, Flavoring Agents and Sweeteners, Disintegrants, Colorants, Lubricants and Glidants, Others
By Formulation Type: Oral Formulation, Topical Formulation, Parental Formulation
By Product: Inorganic Chemicals, Organic Chemicals
By Geography: The regions covered in the pharmaceutical excipients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Pharmaceutical Excipients Global Market Report 2022provides market size and growth forecasts for the global pharmaceutical excipients market, global pharmaceutical excipients market share, pharmaceutical excipients market segments and geographies, pharmaceutical excipients market competitive landscape including leading competitors’ revenues, profiles and market shares. The pharmaceutical excipients market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Pharmaceutical Excipients Industry Playersinclude Archer Daniels Midland Co., Associated British Foods, Dow Chemical Company, Evonik, Croda International Plc, Ashland, BASF SE, The Lubrizol Corporation, and Roquette Frères. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
