The report "Excipients in Pharmaceuticals: Global Markets to 2029" looks at the growing demand for inactive ingredients in medications. The market for Excipients, which enhance drug stability and delivery, is growing rapidly, driven by new technologies and healthcare needs.
BOSTON, Oct. 28, 2024 /PRNewswire/ -- According to the latest BCC Research study, Excipients in Pharmaceuticals: Global Markets to 2029, the market for these ingredients was valued at $9.2 billion in 2023, and is expected to grow from $9.7 billion in 2024 to $12.4 billion by the end of 2029, at a compound annual growth rate (CAGR) of 5.1%.
This report offers a detailed analysis of the market for pharmaceutical excipients, focusing on the competitive landscape and the revenues and product portfolio of leading companies. It examines trends, challenges, and opportunities, along with market projections through 2029. The report segments the market by excipient types-organic, inorganic, and USP water-as well as specific categories such as carbohydrates (cellulose, sugars, starch), and calcium salts. It also evaluates the three dosage forms (solid, liquid, semisolid) and administration routes (oral, injectable, topical). The insights will help pharmaceutical companies, contract formulators and research institutes make informed decisions.
Interesting and surprising facts
Excipients ensure that active pharmaceutical ingredients (APIs) can work effectively at their target sites. Excipients make up 80% to 90% of a drug's formulation, often outweighing the API itself. While excipients are inactive themselves, they are essential for delivering the API. They help stabilize the API, improve its solubility and absorption, and control how quickly it is released in the body.
Factors contributing to the growth of the market include:
- Increasing pharmaceutical and biopharmaceutical consumption. Demand for medicines and biologically based treatments is growing, driven by improved access to healthcare, and advances in drug development. People in search of better treatment options are using newer biopharmaceuticals, such as vaccines and gene therapies, as well as traditional pharmaceutics more frequently. This trend highlights the importance of innovations in healthcare.
- Growing demand for functional and novel excipients. There is an increasing need for new and improved inactive ingredients used in drug formulations. These excipients are not just fillers; they help enhance the effectiveness of medications by improving stability, solubility and delivery. Pharmaceutical companies are turning to excipients in order to create more effective drugs.
- Instant sourcing of excipients. With advances in technology and supply chain systems being transformed by digital procurement, pharmaceutical companies can now find and order excipients more efficiently. This faster access helps streamline the drug development process, ensuring that manufacturers have the proper materials on hand when they need them, ultimately speeding up the creation of new medications.
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Report Synopsis
Report Metrics | Details |
Base year considered | 2023 |
Forecast period considered | 2024-2029 |
Base year market size | $9.2 billion |
Market size forecast | $12.4 billion |
Growth rate | CAGR of 5.1% from 2024 to 2029 |
Segments covered | By material type, dosage form, route of administration, and end user |
Regions covered | North America, Europe, Asia-Pacific, Latin America, and Rest of the World |
Key market drivers | • Increasing pharmaceutical and biopharmaceutical consumption • Growing demand for functional and novel excipients • Instant sourcing of excipients |
This report, Excipients in Pharmaceuticals: Global Markets to 2029, answers the following questions:
- What is the projected size and growth rate of the global market for excipients in pharmaceuticals?
The global market is projected to grow from $9.2 billion in 2023 to $12.4 billion in 2029 at a CAGR of 5.1% during the forecast period. - What are the factors driving the growth of the market?
The market is driven by the increasing need for pharmaceutical excipients, which is largely attributed to the rise in chronic diseases such as diabetes, hypertension, cancer and HIV. These conditions necessitate ongoing medication, resulting in a corresponding increase of pharmaceutical consumption. This increases the demand for excipients used in drug formulation. the market is also fueled by the growing need for advanced excipients, which are essential for the development of biologics and specialty drugs. - What segments are covered in the excipients in pharmaceutical market?
The excipient in pharmaceutical market is segmented based on the material type, by dosage form, by route of administration, by end user, and by geographic region. - Which type of excipient will dominate the market by the end of 2029?
The organic excipients segment will dominate the market by the end of 2029. - Which region has the highest market share in the excipients in pharmaceuticals?
North America holds the highest share in the market.
Leading Companies in the Market Include :
- ADM
- ASAHI KASEI CORP.
- ASHLAND
- BASF SE
- CRODA INTERNATIONAL PLC
- EVONIK INDUSTRIES AG
- INGREDION
- KERRY GROUP PLC
- ROQUETTE FRERES
- INTERNATIONAL FLAVORS & FRAGRANCES INC.
Other related reports:
Global Markets for Contract Pharmaceutical Manufacturing, Research and Packaging: covers the industry that provides outsourced services for producing, developing, and packaging medicines. Pharmaceutical companies often rely on contract manufacturers and researchers to save time and costs, access specialized expertise, and scale up production. This market, which includes the key services, from developing new drugs to packaging them for sale, is growing as companies seek more efficient ways to bring products to market.
Global Markets and Technologies for Advanced Drug Delivery Systems: covers the market for the innovative methods being developed for delivering medications more effectively to patients. These systems use advanced technologies to improve how drugs are administered, ensuring they reach their target in the body. This market is continuously being advanced as researchers develop new delivery methods, such as nanoparticles and smart devices, to enhance treatment outcomes.
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