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Pharmaceutical Excipients Market
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Pharmaceutical Excipients Market

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Pharmaceutical Excipients Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2018-2028, Segmented By Product (Organic Chemicals, Inorganic Chemicals, Other Chemicals), By Functionality (Fillers & Diluents, Suspending & Viscosity Agents, Coating Agents, Binders, Flavoring Agents & Sweeteners, Disintegrants, Colorants, Lubricants & Glidants, Preservatives, Emulsifying Agents, Other Functionalities), By Formulation (Oral Formulations, Topical Formulations, Parenteral Formulations, Other Formulations), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)

  • Published Date: April 2022
  • Report ID: BWC22111
  • Available Format: PDF
  • Page: 188

Report Overview

Global pharmaceutical excipients market is gaining significant traction owing to the flourishing pharmaceutical industry along with extensive research and development activities in this field and expanding generics industry...

Global Pharmaceutical Excipients Market- Industry Trends & Forecast Report 2028

Global pharmaceutical excipients market was worth USD 8 billion in 2021 and is further projected to reach USD 11.8 billion by the year 2028, growing at a CAGR of 5.80% during the forecast period i.e. 2022-2028. The growth of the market is attributed to the rising demand for medicines, the booming pharmaceutical industry, and the rising demand for pharmacological goods. Furthermore, the increasing lifestyle diseases like diabetes and obesity-related disorders reinforce the demand for medications globally.

Pharmaceutical Excipients Market

Pharmaceutical Excipients - Overview

An Excipient is a pharmacologically inactive substance having no therapeutic properties that improve the tablet’s formulation. Excipients help pharmaceutical ingredients for better functionalities like longer shelf-life, and they are important to deliver a drug within the body. The main excipients used in the pharmaceutical industry are starch, gelatin, magnesium stearate, talc, sucrose, polyethylene glycol,  stearic acid, silicone, etc.

Pharmaceutical Excipients Market Forecast and Trends

Growth Drivers

Rising Demand for Biopharmaceuticals In Healthcare

The rising demand for biopharmaceuticals in the industry is emerging as a major driving factor for the pharmaceutical excipients market because of their similarity to a natural biological component that is found in the human body. They are increasingly being used for various purposes including the manufacture of vaccines, blood and blood components, body cells and tissues, etc. The extensive research and development activities for producing biopharmaceutical products are anticipated to fuel the demand for pharmaceutical excipients, propelling the overall market growth.

Increasing Demand for Medicines and Medicinal Products

The rising demand for medicines and medicinal products owing to the increasing prevalence of various medical conditions is significantly propelling the demand for pharmaceutical excipients. The healthcare facilities such as public hospitals are now keeping more stocks of medicines compared to pre-COVID-19 periods. According to the Oxford Business Group, this growth in demand is attributed to rising incidences of various communicable and non-communicable diseases including diabetes, hypertension, AIDS, malaria, etc.

Restraints

Increasing Cost of Pharmaceutical Excipients

The cost of pharmaceutical excipients is surging at a high rate owing to the expanding pharmaceutical industry and increasing demand and supply gap in the market. This may emerge as a major challenge for the growth of the pharmaceutical excipients market. Drug manufacturers are constantly raising alarms regarding the increasing prices of these raw materials, which are also directly influenced by the taxes or freight rates imposed on them.

Impact of COVID-19 on Pharmaceutical Excipients Market

The pharmaceutical excipients market was negatively impacted by the unprecedented COVID-19 pandemic outbreak. The lockdown imposed by the countries directly influences the operations of the pharmaceutical industry by hindering the smooth supply of raw materials. As a result, the demand for pharmaceutical excipients registered a significant drop during the initial outbreak. However, the market is projected to flourish in the post lockdown period owing to the increasing consumption of medicines, expanding use of excipients in Covid vaccines, and the rising prevalence of various types of diseases.

Pharmaceutical Excipients Market - By Product

Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and other chemicals. The organic chemicals segment is further classified into oleochemicals, carbohydrates, petrochemicals, proteins, and others. The inorganic chemicals segment is also further classified into calcium phosphate, metal oxides, halites, calcium carbonate, calcium sulfate, and others. The organic chemicals segment accounts for the largest market share.

Pharmaceutical Excipients Market - By Formulations

Based on formulations, the pharmaceutical excipients market is segmented into oral formulations, parenteral formulations, topical formulations, and other formulations. The oral formulations segment accounts for the largest market share owing to its wide range of applications for the treatment of many medical conditions. The demand for tablets and capsules is highest in the healthcare industry since they are considered faster and better compared to other formulations.

Pharmaceutical Excipients Market - Regional Insights

Geographically, the pharmaceutical excipients market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Europe dominates the pharmaceutical excipients market owing to the rising focus and investment towards the expansion of the generic drug industry. Furthermore, favorable government initiatives towards the proliferating pharmaceutical industry are also anticipated to present significant growth opportunities to the pharmaceutical excipients market. However, the Asia-Pacific region is projected to witness the highest growth rate during the forecast period.

Competitive Landscape

The leading market players in the pharmaceutical excipients market are Ashland, Croda International PLC, BASF SE, Archer Daniels Midland Company, DuPont, The Lubrizol Corporation, Roquette Frères, Associated British Foods PLC, Evonik Industries AG, Peter Greven GmbH & Co. KG, Pfanstiehl, Inc, Croda International Plc, BASF SE, Chemische Fabrik Budenheim, Archer-Daniels-Midland Company, and other prominent players. The market is fragmented with the presence of several global and regional industry players. The companies constantly launch new products and significantly invest in research and development activities to bring innovations into their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Development

  • In November 2021, Gattefosse, a French chemical manufacturing company, announced the launch of three new pharmaceutical ingredients; Labrafac MC60 and Gelucire 59/14, for the oral administration route and Emulfree Duo for the topical administration route.
  • In August 2021, SPI Pharma, a US-based pharma company, announced the introduction of UltraBurst, an excipient platform intended for flash orally disintegrating tablets (ODTs).

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2021
Base Year – 2021
Forecast – 2022 – 2028
Facts Covered Revenue in USD Billion
Market Coverage U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia
Product Service/Segmentation By Product, By Functionality, By Formulation, By Region
Key Players Ashland, Croda International PLC, BASF SE, Archer Daniels Midland Company, DuPont, The Lubrizol Corporation, Roquette Frères, Associated British Foods PLC, Evonik Industries AG, Peter Greven GmbH & Co. KG, Pfanstiehl, Inc, Croda International Plc, Chemische Fabrik Budenheim, and other prominent players.

 

By Product

  • Organic Chemicals
  1. Oleochemicals
  2. Carbohydrates
  3. Petrochemicals
  4. Proteins
  5. Others
  • Inorganic Chemicals
  1. Calcium Phosphate
  2. Metal Oxides
  3. Halites
  4. Calcium Carbonate
  5. Calcium Sulfate
  6. Others
  • Other Chemicals

By Functionality

  • Fillers & Diluents
  • Suspending & Viscosity Agents
  • Coating Agents
  • Binders
  • Flavoring Agents & Sweeteners
  • Disintegrants
  • Colorants
  • Lubricants & Glidants
  • Preservatives
  • Emulsifying Agents
  • Other Functionalities

By Formulation

  • Oral Formulations
  • Topical Formulations
  • Parenteral Formulations
  • Other Formulations

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Pharmaceutical Excipients Market Insights
    1. Industry Value Chain Analysis
    2. GROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. The threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Pharmaceutical Excipients Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
        1. Inorganic Chemicals
          1. Calcium Phosphates
          2. Calcium Carbonate
          3. Calcium Sulfate
          4. Halites
          5. Metallic Oxides
          6. Others
        2. Organic Chemical
          1. Carbohydrates
            1. Sugars
            2. Starch
            3. Cellulose
          2. Petrochemicals
            1. Glycols (Alcohol)
            2. Povidones Polymers
            3. Mineral Hydrocarbons
            4. Others
      2. By Function
        1. Fillers & Diluents
        2. Suspension & viscosity agents
        3. Binders
        4. Coatings
        5. Flavoring agents
        6. Disintegrants
        7. Others
      3. By Formulation
        1. Oral Formulations
        2. Parenteral Formulations
        3. Topical Formulations
      4. By Region
        1. North America
        2. Europe
        3. The Asia-Pacific
        4. Latin America
        5. The Middle East and Africa
  6. North America Pharmaceutical Excipients Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Function
      3. By Formulation
      4. By Country
        1. United States
        2. Canada
  7. Europe Pharmaceutical Excipients Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Function
      3. By Formulation
      4. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. The Asia Pacific Pharmaceutical Excipients Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Function
      3. By Formulation
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  9. Latin America Pharmaceutical Excipients Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Function
      3. By Formulation
      4. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. The Middle East & Africa Pharmaceutical Excipients Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Function
      3. By Formulation
      4. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of the Middle East & Africa
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
  12. Impact of COVID-19 on Global Pharmaceutical Excipients Industry
  13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Ashland, Inc.
    2. BASF SE
    3. Associated British Foods Plc
    4. Akzo Nobel N.V.
    5. Roquette Frères
    6. DuPont de Nemours
    7. Innophos Holdings, Inc.
    8. Evonik
    9. Merck
    10. The Lubrizol Corporation
    11. Armor Pharma
    12. J.M. Huber Corporation
    13. Dow Chemicals Corporation
    14. Merck Millipore
    15. Daicel Corporation
    16. Kerry
    17. Croda International
    18. Archer Daniels Midland
    19. Other Prominent Players
  14. Key Strategic Recommendations

 

List of Figures

 

Figure 1        Global Pharmaceutical Excipients Segmentation

Figure 2        Global Pharmaceutical Excipients Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Pharmaceutical Excipients Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Pharmaceutical Excipients Market Share, By Product, By Value, 2018-2028

Figure 6        Global Pharmaceutical Excipients Market Share, By Function, By Value, 2018-2028

Figure 7        Global Pharmaceutical Excipients Market Share, By Formulation Industry, By Value, 2018-2028

Figure 8        Global Pharmaceutical Excipients Market Share, By Region, By Value, 2018-2028

Figure 9        North America Pharmaceutical Excipients Market Size, By Value (USD Million), 2018-2028

Figure 10       North America Pharmaceutical Excipients Market Share, By Product, By Value, 2018-2028

Figure 11       North America Pharmaceutical Excipients Market Share, By Function, By Value, 2018-2028

Figure 12       North America Pharmaceutical Excipients Market Share, By Formulation Industry, By Value, 2018-2028

Figure 13       North America Pharmaceutical Excipients Market Share, By Country, By Value, 2018-2028

Figure 14       Europe Pharmaceutical Excipients Market Size, By Value (USD Million), 2018-2028

Figure 15       Europe Pharmaceutical Excipients Market Share, By Product, By Value, 2018-2028

Figure 16       Europe Pharmaceutical Excipients Market Share, By Function, By Value, 2018-2028

Figure 17       Europe Pharmaceutical Excipients Market Share, By Formulation Industry, By Value, 2018-2028

Figure 18       Europe Pharmaceutical Excipients Market Share, By Country, By Value, 2018-2028

Figure 19       The Asia-Pacific Pharmaceutical Excipients Market Size, By Value (USD Million), 2018-2028

Figure 20       The Asia-Pacific Pharmaceutical Excipients Market Share, By Product, By Value, 2018-2028

Figure 21       The Asia-Pacific Pharmaceutical Excipients Market Share, By Function, By Value, 2018-2028

Figure 22       The Asia-Pacific Pharmaceutical Excipients Market Share, By Formulation Industry, By Value, 2018-2028

Figure 23       The Asia-Pacific Pharmaceutical Excipients Market Share, By Country, By Value, 2018-2028

Figure 24       Latin America Pharmaceutical Excipients Market Size, By Value (USD Million), 2018-2028

Figure 25       Latin America Pharmaceutical Excipients Market Share, By Product, By Value, 2018-2028

Figure 26       Latin America Pharmaceutical Excipients Market Share, By Function, By Value, 2018-2028

Figure 27       Latin America Pharmaceutical Excipients Market Share, By Formulation Industry, By Value, 2018-2028

Figure 28       Latin America Pharmaceutical Excipients Market Share, By Country, By Value, 2018-2028

Figure 29       The Middle East & Africa Pharmaceutical Excipients Market Size, By Value (USD Million), 2018-2028

Figure 30       The Middle East & Africa Pharmaceutical Excipients Market Share, By Product, By Value, 2018-2028

Figure 31       The Middle East & Africa Pharmaceutical Excipients Market Share, By Function, By Value, 2018-2028

Figure 32       The Middle East & Africa Pharmaceutical Excipients Market Share, By Formulation Industry, By Value, 2018-2028

Figure 33       The Middle East & Africa Pharmaceutical Excipients Market Share, By Country, By Value, 2018-2028

 

List of Tables

 

Table 1         Global Pharmaceutical Excipients Market Size, By Product, By Value, 2018-2028

Table 2         Global Pharmaceutical Excipients Market Size, By Function, By Value, 2018-2028

Table 3         Global Pharmaceutical Excipients Market Size, By Formulation Industry, By Value, 2018-2028

Table 4         Global Pharmaceutical Excipients Market Size, By Region, By Value, 2018-2028

Table 5         North America Pharmaceutical Excipients Market Size, By Product, By Value, 2018-2028

Table 6         North America Pharmaceutical Excipients Market Size, By Function, By Value, 2018-2028

Table 7         North America Pharmaceutical Excipients Market Size, By Formulation Industry, By Value, 2018-2028

Table 8         North America Pharmaceutical Excipients Market Size, By Country, By Value, 2018-2028

Table 9         Europe Pharmaceutical Excipients Market Size, By Product, By Value, 2018-2028

Table 10        Europe Pharmaceutical Excipients Market Size, By Function, By Value, 2018-2028

Table 11        Europe Pharmaceutical Excipients Market Size, By Formulation Industry, By Value, 2018-2028

Table 12        Europe Pharmaceutical Excipients Market Size, By Country, By Value, 2018-2028

Table 13        The Asia-Pacific Pharmaceutical Excipients Market Size, By Product, By Value, 2018-2028

Table 14        The Asia-Pacific Pharmaceutical Excipients Market Size, By Function, By Value, 2018-2028

Table 15        The Asia-Pacific Pharmaceutical Excipients Market Size, By Formulation Industry, By Value, 2018-2028

Table 16        The Asia-Pacific Pharmaceutical Excipients Market Size, By Country, By Value, 2018-2028

Table 17        Latin America Pharmaceutical Excipients Market Size, By Product, By Value, 2018-2028

Table 18        Latin America Pharmaceutical Excipients Market Size, By Function, By Value, 2018-2028

Table 19        Latin America Pharmaceutical Excipients Market Size, By Formulation Industry, By Value, 2018-2028

Table 20        Latin America Pharmaceutical Excipients Market Size, By Country, By Value, 2018-2028

Table 21        The Middle East & Africa Pharmaceutical Excipients Market Size, By Product, By Value, 2018-2028

Table 22        The Middle East & Africa Pharmaceutical Excipients Market Size, By Function, By Value, 2018-2028

Table 23        The Middle East & Africa Pharmaceutical Excipients Market Size, By Formulation Industry, By Value, 2018-2028

Table 24        The Middle East & Africa Pharmaceutical Excipients Market Size, By Country, By Value, 2018-2028

Table 25        Ashland, Inc. Company Overview

Table 26        Ashland, Inc. Financial Overview

Table 27        BASF SE Company Overview

Table 28        BASF SE Financial Overview

Table 29        Akzo Nobel N.V. Company Overview

Table 30        Akzo Nobel N.V. Financial Overview

Table 31        Roquette Frères Company Overview

Table 32        Roquette Frères Financial Overview

Table 33        Innophos Holdings, Inc.  Company Overview

Table 34        Innophos Holdings, Inc.  Financial Overview

Table 35        Merck Company Overview

Table 36        Merck Financial Overview

Table 37        The Lubrizol Corporation Company Overview

Table 38        The Lubrizol Corporation Financial Overview

Table 39        Armor Pharma Company Overview

Table 40        Armor Pharma Financial Overview

Table 41        J.M. Huber Corporation Company Overview

Table 42        J.M. Huber Corporation Financial Overview

Table 43        Dow Chemicals Corporation Company Overview

Table 44        Dow Chemicals Corporation Financial Overview

Table 45        Merck Millipore Company Overview

Table 46        Merck Millipore Financial Overview

Table 47        Daicel Corporation Company Overview

Table 48        Daicel Corporation Financial Overview

Table 49        Kerry Company Overview

Table 50        Kerry Financial Overview

Table 51        Croda International Company Overview

Table 52        Croda International Financial Overview

Table 53        Archer Daniels Midland Company Overview

Table 54        Archer Daniels Midland Financial Overview

Market Segmentation

By Product

  • Organic Chemicals
  1. Oleochemicals
  2. Carbohydrates
  3. Petrochemicals
  4. Proteins
  5. Others
  • Inorganic Chemicals
  1. Calcium Phosphate
  2. Metal Oxides
  3. Halites
  4. Calcium Carbonate
  5. Calcium Sulfate
  6. Others
  • Other Chemicals

By Functionality

  • Fillers & Diluents
  • Suspending & Viscosity Agents
  • Coating Agents
  • Binders
  • Flavoring Agents & Sweeteners
  • Disintegrants
  • Colorants
  • Lubricants & Glidants
  • Preservatives
  • Emulsifying Agents
  • Other Functionalities

By Formulation

  • Oral Formulations
  • Topical Formulations
  • Parenteral Formulations
  • Other Formulations

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)
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Frequently Asked Questions (FAQs):

Ans: The pharmaceutical excipients market reached USD 8.0 billion in 2021.
Ans: The major factors driving the growth of the pharmaceutical excipients market are; rising demand for biopharmaceuticals in healthcare and expanding integration of drug formulation and nanotechnology.
Ans: The key players in the pharmaceutical excipients market are: Ashland, Croda International PLC, BASF SE, Archer Daniels Midland Company, DuPont, The Lubrizol Corporation, Roquette Frères, Associated British Foods PLC, Evonik Industries AG, Peter Greven GmbH & Co. KG, Pfanstiehl, Inc, Croda International Plc, BASF SE, Chemische Fabrik Budenheim, Archer-Daniels-Midland Company, and other prominent players.
Ans: The organic chemicals segment accounted for the largest share in the pharmaceutical excipients market.
Ans: Europe has the largest share in the pharmaceutical excipients market.