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According to SNS Insider, the pharmaceutical excipients market was valued at USD 9.09 billion in 2023 and is expected to reach USD 14.52 billion by 2031, growing at a CAGR of 6.02% during the forecast period of 2024-2031
The pharmaceutical excipients market serves as the important aspect of the pharmaceutical industry. These inactive ingredients, encompassing binders, disintegrants, fillers, and more, play a critical role in transforming potent drugs into safe and effective dosage forms. The market itself is experiencing a period of steady growth, fueled by several key trends.
List of Pharmaceutical Excipients Companies Profiled in Report:
- Akzo Nobel N.V.
- Evonik
- Merck
- M. Huber Corporation
- Dow Chemicals Corporation
- Merck Millipore
- Croda International
- Archer Daniels Midland
- Ashland Inc.
- BASF SE
- Associated British Foods Plc
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How does SNS Insider quantify challenges which will be faced by the key players?
The pharmaceutical excipients market, while crucial for drug development, faces hurdles that can negatively impact innovation. Stringent regulations, designed to ensure patient safety, pose a significant challenge. Approval for new excipients can take years, with estimates suggesting a 20% rise in development costs due to regulatory hurdles. This complexity discourages investment in novel excipients, potentially obstructing the creation of advanced drug delivery systems. Also, a growing trend of drug shortages, at nearly 50% according to a 2019 report by the American Society of Health-System Pharmacists, underscores the vulnerability of relying on a limited pool of approved excipients. These challenges necessitate a collaborative effort between regulatory bodies and excipient manufacturers to streamline the approval process while maintaining safety standards.
Key indicators and its impact on market.
The Pharmaceutical Excipients Market is supported by a several of external forces. An aging global population with rising chronic diseases by 99% over the short period of time fuels demand for effective medications, necessitating a strong supply of high-quality excipients. Stringent regulations by governing bodies ensure safety and efficacy, driving innovation in excipient development. Additionally, advancements in drug delivery technologies, such as controlled-release mechanisms, open doors for specialized excipients that enhance drug performance. These factors, coupled with a growing focus on biopharmaceutical drugs and rising disposable incomes in developing economies, paint a promising picture for the future of the Pharmaceutical Excipients Market.
Pharmaceutical Excipients Industry Segmentation as Follows:
By Function
- Fillers and diluents
- Binders
- Coatings
- Flavoring agents
- Disintegrants
- Colorants
- Others
By Type
- Inorganic Chemicals
- Organic Chemicals
By Type of Formulation
- Oral Formulations
- Topical Formulations
- Parenteral Formulations
- Other Formulations
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Key insights of By Type segment analysed by SNS Insider.
Segmenting the pharmaceutical excipients market by type of formulation reveals distinct consumption patterns. Oral formulations, encompassing tablets and capsules, reign supreme, capturing roughly 55% of the market share. Their convenience for patients, ease of accurate dosing, and extended shelf life compared to liquids solidify their dominance. Topical formulations, applied directly to the skin, hold approximately 20% of the market share. This segment benefits from the rising demand for medicated creams and ointments for various skin conditions. Parenteral formulations, including injectables and intravenous solutions, account for around 15% of the market share, crucial for delivering medications directly into the bloodstream. Finally, “Other formulations,” which include inhalants, suppositories, and ophthalmics, constitute the remaining 10%, providing to specific delivery needs and dosage forms.
Regional Analysis:
The pharmaceutical excipients market has a footprint in various regions. North America and Europe are currently the dominant regions, driven by established pharmaceutical industries and stringent regulatory frameworks. However, the Asia Pacific region is expected to witness the fastest growth rate in the coming years. This can be attributed to factors such as an increasing domestic pharmaceutical industry, increasing government investments in healthcare infrastructure, and a growing aging population.
Recent Developments:
- BASF recently launched a new line of excipients specifically designed for extended-release formulations.
- Colorcon, has been focusing on developing excipients that enhance the bioavailability of poorly soluble drugs. These advancements highlight the industry’s commitment to pushing the boundaries of excipient functionality and ensuring the optimal delivery of life-saving medications.
Key Takeaways:
- The pharmaceutical excipients market presents a compelling picture of growth and opportunity. Driven by a several of factors, from the rising demand for generic drugs to the expanding biopharmaceutical market, the industry is poised for significant expansion in the coming years.
- As key players continue to innovate and regional markets mature, the pharmaceutical excipients market will undoubtedly play an important role in ensuring the safe and effective delivery of medications across the globe.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Pharmaceutical Excipients Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Pharmaceutical Excipients Market Segmentation, By Function
Chapter 9 Pharmaceutical Excipients Market Segmentation, By Type
Chapter 10 Pharmaceutical Excipients Market Segmentation, By Type of Formulation
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
Continued…
For more information and a comprehensive analysis of the market, please refer to the full report available at https://www.snsinsider.com/reports/pharmaceutical-excipients-market-2584
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