Pharmaceutical Excipients Market by Product (Organic Chemicals (Carbohydrates), Inorganic Chemicals (Calcium Phosphate)), Functionality (Fillers, Binders, Lubricants, Preservatives), Formulation (Tablets, Capsules, Parenteral)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Pharmaceutical Excipients market size is expected to hit around USD 15.9 billion by 2030 from valued at USD 8.9 billion in 2022 and growing at a CAGR of 7.2% from 2022 to 2030.

The rapidly growing pharmaceuticals market coupled with rise in generics production is driving the market growth for pharmaceutical excipients. However, the increasing regulatory stringency regarding the approval of drugs and excipients, along with the cost and time-intensive drug development process, are expected to restrain the growth of this market.

COVID-19 impact on the pharmaceutical excipients market

The COVID-19 pandemic had a significant impact on the pharma industry. Lockdowns imposed in the wake of the outbreak disrupted the supply of raw materials from manufacturing hubs such as India and China. This slowed drug development and manufacturing, severely impacting companies that relied heavily on outsourcing. The entire pharmaceutical ecosystem was disrupted initially. Moreover, regulatory authorities also had to reframe and construct new laws to ensure maximum patient safety after drug consumption. The end of the lockdowns saw the pharma industry gaining momentum, especially given the demand for drugs such as hydroxychloroquine and Remdesivir, which showed positive results against COVID-19. The increasing demand for these drugs drove revenue growth for some companies.

Report Scope of the Pharmaceutical Excipients Market

GLOBAL PHARMACEUTICAL EXCIPIENTS MARKET DYNAMICS

How growth of generics closely related to the growth of pharmaceutical excipients?

According to industry experts, generic erosion is expected to result in significant revenue and volume losses for the branded drugs industry. This will enable the entry of cheaper generic counterparts into the market, which will boost the volume of drugs sold. The growing affordability and increasing healthcare expenditure in emerging economies will also drive the sales volume of generics in the forecast period. This is considered  as a positive indicator of the growth of the pharmaceutical excipients market.

Why iscost and time-intensive drug development process a restraining factor that is holding back growth of market?

According to the California Biomedical Research Association (CBRA), it takes 12 years for a drug to travel from the research lab to the patient, including 1–6 years for toxicology studies alone. Moreover, late-stage failures in the drug development process also impact the time and cost associated with drug development. Although excipient and drug production has seen significant advances in recent years, the requirement for high capital investments is expected to hamper market growth during the forecast period

What opportunities does increase in multifunctional excipients open up for companies?

The development of excipients capable of multiple functions is considered a novel solution to counter the high time and cost requirements for bringing a drug to the market, a process that may take, on average, 10–12 years. Multifunctional excipients enhance the drug manufacturing process and improve flowability, compressibility, bioavailability, and particle size distribution. Thus producing lucrative growth opportunities.

How is safety and quality concerns impacting growth of the market?

A large part of the pharmaceutical excipient manufacturing process is outsourced to smaller manufacturers in low-cost countries. This leads to low control over the excipient manufacturing process and quality, thereby increasing the need for process transparency in the entire supply chain. However, achieving immediate streamlining and maximum transparency in supply chain activities poses a challenge for drug manufacturers and excipient manufacturers.

The organic chemicals segment is expected to have the dominant share of the Pharmaceutical Excipients Market in 2021:

Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and other chemicals. The organic chemicals segment will continue to dominate the market during the forecast period. The large share of this segment can be attributed to the use of these chemicals in most pharmaceutical formulations.

Europe was the largest regional market for Pharmaceutical Excipients Market in 2021.

The market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, Europe accounted for the largest share of the market. The large share of this region can be attributed to the presence of many pharmaceutical giants with large production capacities leading to high consumption of excipients. The growing emphasis on superior pharmaceutical products, generics, and biosimilars has also led to the increasing demand for novel excipients, which, in turn, is expected to drive market growth.

Some of the prominent players in the Pharmaceutical Excipients Market include:

 Ashland Global Holdings, Inc (US), BASF SE (Germany), International Flavors & Fragrances, Inc. (US), Evonik Industries AG (Germany), Roquette Frères (France).

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Pharmaceutical Excipients market

By Product

• Organic Chemicals
• Oleochemicals
• Fatty Alcohols
• Metal Stearates
• Glycerin
• Other Oleochemicals
• Carbohydrates
• Sugars
• Actual Sugars
• Sugar Alcohols
• Artificial Sweetners
• Cellulose
• Microcrystalline cellulose
• Cellulose ethers
• Carboxymethyl cellulose (CMC) and croscarmellose sodium
• Cellulose esters
• Starches
• Modified Starch
• Dried Starch
• Converted Starch
• Petrochemicals
• Glycols
• Povidones
• Mineral Hydrocarbons
• Acrylic Polymers
• Other Petrochemical Excipients
• Proteins
• Other Organic Chemicals
• Inorganic Chemicals
• Calcium Phosphate
• Metal Oxides
• Halites
• Calcium Carbonate
• Calcium Sulphate
• Other Inorganic Chemicals
• Other Chemicals

By Functionality

• Fillers & Diluents
• Suspending & Viscosity Agents
• Coating Agents
• Binders
• Flavoring Agents & Sweeteners
• Disintegrants
• Colorants
• Lubricants & Glidants
• Preservatives
• Emulsifying Agents
• Other Functionalities

By End User

• Oral Formulations
• Tablets
• Capsules
• Hard-gelatin Capsules
• Soft-gelatin Capsules
• Liquid Formulations
• Topical Formulations
• Parenteral Formulations
• Other Formulations

By Regional Outlook

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Pharmaceutical Excipients industry analysis from 2022 to 2030 to identify the prevailing Pharmaceutical Excipients industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Pharmaceutical Excipients industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Pharmaceutical Excipients industry trends, key players, market segments, application areas, and market growth strategies.