Global pharmaceutical excipients market is anticipated to continue in the years to come. According to market research, the industry is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 6% from its current US$ 7.9 billion valuation in 2021 to an estimated US$ 10.9 billion by 2026 during the course of the forecast year. This increase highlights the vital role excipients play in the manufacturing of pharmaceuticals as well as their increasing importance in ensuring the efficacy and safety of medications.
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Factors Driving the Market Growth:
- Increasing Pharmaceutical Production: With the pharmaceutical industry continuously expanding to meet the demands of a growing global population and increasing health concerns, the demand for excipients is on the rise. Excipients are essential in drug formulation and delivery, thus underpinning the industry’s growth.
- Rising Focus on Drug Quality and Safety: In today’s pharmaceutical landscape, there’s a growing emphasis on the quality and safety of drugs. Excipients contribute to these aspects by improving the stability and efficacy of pharmaceutical products, thus becoming a crucial component in drug development and formulation.
- Technological Advancements: Ongoing technological advancements are enhancing the properties and functionalities of excipients. Novel excipients are being developed to cater to specific drug formulations, which further stimulates the market’s expansion.
- Patient-Centric Approaches: Patient-friendly drug formulations are gaining popularity, and excipients play a pivotal role in achieving these objectives. Excipients are used to improve the taste, texture, and overall patient experience of medications, making them more appealing and easier to administer.
- Regulatory Compliance: Stringent regulations surrounding pharmaceuticals are driving manufacturers to adopt high-quality excipients to ensure compliance with global standards. This requirement is boosting the market for premium and innovative excipients.
Key companies:
Ashland Global Holdings
Croda International
BASF SE
Lubrizol Corporation
Evonik Industries AG
Associated British Foods
Roquette Feres
Archer Daniels
Midland Company
DuPont
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Key Segments
By Functionality:
- Diluents
- Binders
- Disintegrants
- Glidants
- Lubricants
- Tablet Coating
- Films and Coloring Agents
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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