Market Overview:
The pharmaceutical excipients market consists of various products that are used to provide bulk, consistency, stability, solubility and other physiological functions to pharmaceutical formulations without exhibiting pharmacological effect by themselves. Some common excipients used are fillers, disintegrants, binders, coatings, preservatives, emulsifiers, antioxidants and flavoring agents. They are essential components of drug formulations that help in improving patient compliance and stability.

The Pharmaceutical Excipients market is estimated to be valued at US$ 10.7 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The pharmaceutical excipients market is primarily driven by rising demand for generics especially in emerging countries owing to expiry of patents of blockbuster drugs. Generics occupy nearly 80% of the global pharmaceutical market by volume as they are cost effective alternative to the patented drugs. Furthermore, increasing R&D spends on novel drug delivery systems is also projected to accelerate market growth during forecast period. For instance, controlled and sustained release formulations require specialized excipients to modify drug release properties. Growing elderly population prone to various chronic diseases also contributes to market expansion. However, stringent regulatory norms associated with excipients quality may hinder the market growth.

SWOT Analysis
Strength: The global pharmaceutical excipients market has a strong production base with large number of players. Excipients play an important role in drug delivery and enhance the efficiency of active pharmaceutical ingredients. Technological advancements has led to development of novel excipients.

Weakness: Stringent regulations associated with the approval of new excipients increase the time and cost involved in product development and commercialization. Lack of standardized drug development protocol poses challenge in global harmonization.

Opportunity: Emerging economies provide immense opportunities for market growth due to increasing healthcare expenditures and improving standards of living. Continuous research and development activities lead to the development of new multi-functional excipients.

Threats: Price fluctuations of raw materials can have an impact on production cost of excipients. Presence of alternative treatment options pose competitive threat.

Key Takeaways

The Global Pharmaceutical Excipients Market Size is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing demand for generic drugs. North America currently dominates the global market, with the United States being the major revenue generator.

Regional analysis: Europe is the second largest and fastest growing regional market for pharmaceutical excipients owing to rising healthcare expenditures and growing pharmaceutical industry in the region. Key players like Kerry Group plc, DFE Pharma, and Cargill operate manufacturing facilities across various European countries to cater to the demand.

Key players: Key players operating in the pharmaceutical excipients market are Kerry Group plc., DFE Pharma, Cargill, Incorporated, Pfanstiehl, Colorcon, MEGGLE GmbH & Co. KG, Omya AG, Peter Greven GmbH & Co. KG, Ashland., Evonik, Dow, Croda International Plc, Roquette Frères., The Lubrizol Corporation, BASF SE, Avantor, Inc., BENEO, Chemie Trade, among others. These players are focusing on new product launches and expansion strategies to strengthen their market position.

Get more insights on this topic:

https://www.dailyprbulletin.com/pharmaceutical-excipients-market-size-forecast/