How is the Pharmaceutical Excipients Market Poised for Growth: Trends and Opportunities Through 2034
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What fueled the previous growth in the pharmaceutical excipients market?
In recent times, the pharmaceutical excipients market has experienced robust growth. Its growth is projected to upsurge from $10257.72 billion in 2024 to a substantial $10926.17 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.5%. This growth during the historical era can be credited to the solid economic progress in budding markets, an escalation in the sales of generic drugs, and the improvement of advanced healthcare infrastructure.
What will be the pharmaceutical excipients market size in the future?
The size of the personal care market for men is set to experience significant growth in the upcoming years. By 2029, it is projected to reach a worth of $113.16 billion, with a compound annual growth rate (CAGR) of 10.4%. The expected growth during this forecast period can be credited to a broader market reach, altered consumer tastes, emphasis on health and wellness, innovations in products for men, changes in culture and society, and a focus on environmental sustainability. Key trends for the forecast period are customization and personalization, increased awareness about male grooming, inclusivity and diversity, organic and natural products, and novel product innovations for men.
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What main drivers are fueling expansion in the pharmaceutical excipients market?
The upward trend in the global sales of generic drugs has significantly influenced the expansion of the pharmaceutical excipients market. Generic drugs, equivalent in terms of dosage form, safety, strength, administration route, and quality to the brand-name drugs they substitute, have seen a considerable rise in demand. The India Brand Equity Foundation (IBEF) reveals that India holds the position of the primary provider of generic medicines, with the nation’s generic drugs making up 20% of all global generic drug exports. Indian pharmaceutical firms have received approvals for 300 generic drugs in the USA. Therefore, the escalating demand for generic drugs is fostering the growth of the pharmaceutical excipients market.
What key areas define the segmentation of the global pharmaceutical excipients market?
The pharmaceutical excipients market covered in this report is segmented –
1) By Product: Inorganic Chemicals, Organic Chemicals, Other Products
2) By Functionality: Fillers And Diluents, Suspending And Viscosity Agents, Coating Agents, Binders, Flavoring Agents And Sweeteners, Disintegrants, Colorants, Lubricants And Glidants, Other Functionalities
3) By Type Of Formulation: Oral Formulation, Topical Formulation, Parenteral Formulation, Other Formulations
Subsegments:
1) By Inorganic Chemicals: Salts, Oxides, Silicates
2) By Organic Chemicals: Sugars, Polymers, Oils And Fats
3) By Other Products: Natural Excipients, Coatings, Antioxidants
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Who are the dominant players expanding their reach in the pharmaceutical excipients market?
Major companies operating in the pharmaceutical excipients market include BASF SE, Ashland Global Holdings, Evonik Industries AG, International Flavors & Fragrances, Inc, Roquette Frères, Archer Daniels Midland Company, Lubrizol Corporation, Croda International Plc, Kerry Group, DuPont de Nemours, Inc., Sun Pharmaceuticals Industries Ltd, Cipla Ltd, Amster Microcell Private Limited, Finar Limited, P. D. Polychem Private Limited, CAD Pharma Inc, Maas Pharma Chemicals, Aeon Procare Private Limited, CSPC Pharmaceutical Group Ltd, Allen & Hanburys Ltd, Actelion Pharmaceuticals UK Ltd, Colorcon, MEGGLE GmbH & Co. KG, Boehringer Ingelheim International GmbH, DMV-Fonterra Excipients GmbH & Co. KG, Alpen Pharma AG, Avantor Inc, JRS PHARMA GmbH & Co. KG, The Dow Chemical Co, Pfizer, AbbVie Inc, EMS Pharma, Biolab Farmaceutica, Medist FZE, W.R. Grace, Univar Solutions, Nitika Pharma, DFE Pharma, Cargill, Sensient Pharma
How are evolving market trends shaping pharmaceutical excipients Strategies?
Leading entities in the pharmaceutical excipient market have begun to innovate with the introduction of superior excipients such as high-purity excipients to improve the stability of drug formulations, amplify bioavailability and provide support for complicated drug delivery systems. High-purity excipients are pharmaceutical materials that have been subjected to thorough purification processes to eliminate pollutants and impurities. For instance, Clariant, a specialty chemical firm based in Switzerland, announced the launch of three innovative VitiPure excipients in October 2023, designed specifically to boost the stability and solubility of active pharmaceutical ingredients (APIs). These excipients include VitiPure O 80 Superior, a polysorbate 80 of high purity; VitiPure CO 35 Superior, a polyoxyl 35 castor oil; and VitiPure Meglumine LEX, a solubilizer with a low bioburden. Catering to various applications of drug delivery, particularly sensitive formulations such as mRNA vaccines and biologics, these excipients fulfil the rising demand for high-purity ingredients while conforming to rigorous regulatory standards.
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Which regions are emerging as leaders in the pharmaceutical excipients market?
North America is the largest region in the pharmaceutical excipients market in 2024. Middle East is expected to be the fastest growing region in the global pharmaceutical excipients market share during the forecast period. The regions covered in the pharmaceutical excipients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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