The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The pharmaceutical excipients market has witnessed robust growth in recent years, with significant projections for the future. Key insights include:

• Market size reached $9,728.83 billion in 2023, expected to hit $10,378.8 billion in 2024, with a CAGR of 6.7%.
• Forecast predicts further expansion to $13,399.77 billion by 2028, at a CAGR of 6.6%.

Drivers of Growth

Several factors contribute to this growth:

• Strong economic growth in emerging markets.
• Surge in generic drug sales.
• Advancements in healthcare infrastructure.

Rising Trends

Notable trends shaping the future market landscape:

• Emphasis on sustainable packaging.
• Increased mergers and acquisitions.
• Focus on reducing greenhouse gas emissions.
• Leveraging AI for supply chain transparency.

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Rise Of Generic Drugs Fuels Growth In The Pharmaceutical Excipients Market

Global Surge in Generic Drugs

• Generic drugs contribute significantly to market growth.
• India leads in generic drug production, with 20% of global exports.
• Indian pharmaceutical companies received 300 generic drug approvals in the USA.

Major Players

Key companies driving the market include:

• BASF SE
• Ashland Global Holdings
• Evonik Industries AG
• International Flavors & Fragrances, Inc.
• And many more.

Pharmaceutical Excipient Market Benefits From Advanced Solutions Like Apisolex, Enhancing Manufacturing Efficiency And Reducing API Loss

Introduction of Advanced Excipients

• Apisolex technology improves solubility challenges.
• Lubrizol Life Science (LLS) Health launched Apisolex to enhance solubility and streamline manufacturing.

Philip Morris International Acquires Fertin Pharma

• Acquisition aims to bolster smoke-free product development.
• Fertin Pharma brings expertise in pharmaceutical excipients.

Segmentation and Regional Insights

Market Segments

The pharmaceutical excipients market is segmented by:

• Product: Inorganic Chemicals, Organic Chemicals, Others
• Functionality: Fillers, Binders, Coating Agents, etc.
• Type of Formulation: Oral, Topical, Parenteral, Others

Regional Dynamics

• North America dominates the market.
• Middle East expected to be the fastest-growing region.

In conclusion, the pharmaceutical excipients market is on a trajectory of substantial growth, driven by various factors including the rise of generic drugs, technological advancements, and strategic acquisitions. With evolving trends and expanding regional markets, the industry is poised for significant developments in the coming years.

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