Excipients Industry Overview
The global excipients market size was estimated at USD 5.53 billion in 2021 and is expected to advance at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030.
Increasing usage of generic medicines and rising demand for multifunctional excipients are expected to be the key factors driving revenue growth. Excipients have been recognized to provide better functionality and competitive advantage in drug formulations and this has contributed to their increased usage by pharmaceutical firms in recent years. Ongoing research and discovery of ideal or near-ideal substances that can be used in drug formulations and delivery have given the market a definite boost. Another factor contributing to global growth is that most pharmaceutical firms have been developing more sophisticated excipients with an enhanced role in drug delivery.
Gather more insights about the market drivers, restrains and growth of the Global Excipients Market
In the midst of the COVID-19 pandemic, the excipients organizations confronted huge difficulties, like a low inventory of clinical items. The excipients organizations are likewise among the ventures that the COVID-19 pandemic has straightforwardly affected. Faults in the worldwide supply chain, for example, an effect on the obtaining, procurement, and distribution of drug products, remained significant. Besides, there were numerous initiatives taken by key market players during the pandemic. For example, in November 2020, Croda International Plc went into an arrangement with Pfizer Inc to supply added substances for assembling its COVID-19 vaccine, sending the portions of the United Kingdom-based specialty chemical organization to a record high. The agreement with Pfizer runs for a considerable length of time and grants Croda an underlying stock agreement for four-part excipients utilized in the creation of the vaccine for the initial three years of the agreement. Such associations would give positive development in the impending future.
There is a rising demand for novel substances that support nanoparticle drug delivery for oncological medications to provide better stability and adoption of medicines. This is also likely to propel market growth. The patent expiry of blockbuster drugs is also expected to boost the market at a significant pace.
Currently, companies are working on the optimization of excipients in drug formulations and delivery. They are also engaged in the development of such formulations. These factors are expected to have a major impact on the development and marketing of these products in the future.
Browse through Grand View Research’s Pharmaceuticals Industry Research Reports.
- Medical Foods For Orphan Diseases Market – The global medical foods for orphan diseases market size was valued at USD 1.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030.
- Sports Nutrition Market – The global sports nutrition market size was valued at USD 42.9 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030.
Key Companies profiled:
Some prominent players in the global excipients market include
- Eastman Chemical Corporation
- P&G Chemicals
- Avantor Performance Materials, LLC
- Huntsman Corporation
- BASF SE
- Ashland Inc.
- FMC Corporation
- Colorcon Inc.
- Lubrizol Corporation
- JRS Pharma
- Shin-Etsu Chemical Co., Ltd.
- DFE Pharma
- Finar Limited
Order a free sample PDF of the Excipients Market Intelligence Study, published by Grand View Research.