They play an important role in oral drug delivery by improving the mechanical properties of tablets and capsules and modifying drug release during dissolution. The market has witnessed significant growth over the past few years due to various advantages offered by excipients such as improved bioavailability and stability of APIs, better mouthfeel and taste masking, and capability to suit needs of different dosage forms.
The global pharmaceutical excipients market is estimated to be valued at US$ 12.33 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global Pharmaceutical Excipients Market Size are Waters Corporation, Agilent Technologies Inc., Bruker Corporation, SCIEX, Shimadzu, Danaher, Thermo Fisher Scientific Inc., Shimadzu, and PerkinElmer Inc. These companies have extensive experience in developing innovative excipient solutions and technologies along with geographic expansion and merger acquisition activities to consolidate market presence.
The pharmaceutical excipients market is witnessing significant growth owing to increasing demand from generics market across the globe. As many blockbuster drug patents expire, generics manufacturers are launching their copies of branded formulations at much lower costs, thus driving excipients requirement. Further, growing prevalence of chronic lifestyle diseases and aging population has enhanced global pharmaceutical sales, supplementing excipients consumption.
Advancements in drug delivery technologies have opened up opportunities for innovation in excipients field. Novel technologies such as hot-melt extrusion, spray-drying, nanoparticle engineering, and 3D printing offer ways to develop functional excipients for controlled/targeted release applications. Companies are investing heavily in RD to introduce platform technologies and differentiated solutions.
Market Trends
- Multi-functional excipients: Excipient manufacturers are focusing on developing multi-functional formulations that can replace combinations of individual excipients. This reduces costs and complexity in drug development.
- Sustainable excipients: With growing emphasis on environmental sustainability, naturally-derived and green excipients prepared from renewable resources are gaining traction in the industry.
Market Opportunities
- Developing markets: Emerging Asian, Latin American, Middle Eastern and African countries present significant untapped opportunities for excipient sales owing to rapid economic development and rising healthcare spends.
- Complex generics formulations: Upcoming patent cliff of blockbuster biologics will require complex formulation technologies involving novel excipients. This presents lucrative opportunities for excipient innovators.
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