$4550
The global pharmaceutical excipients market is expected to reach US$ 12,245.04 million by 2028; it is estimated to grow at a CAGR of 6.6% from 2022 to 2028.
The rising number of product approvals and launches drives the pharmaceutical excipients market growth. Formulation scientists have recognized that single-component excipients do not always provide the requisite performance to allow certain APIs to be manufactured adequately. These scientists focus on the production of co-processed and multifunctional excipients with enhanced performance. Co-processed excipients are a mixture of two or more existing excipients at the sub-particle level, offering substantial benefits of the incorporated excipients and minimizing their drawbacks. These multipurpose excipients have dramatically reduced the number of incorporating excipients in the tablet. The co-processed excipients are used to improve the drug's flow, disintegration, lubrication, and compressibility. The excipients also simplify the formulation process and make it cost-effective. They are increasingly used to convert complicated and labor-intensive formulation processes, such as wet granulation, to quick direct-compression processes, without affecting the final product quality or performance. Co-processed excipients play a crucial role in the creation of a stable, result-oriented drug delivery system with enhanced chemical, physical, and mechanical properties.
The companies are focusing on developing co-processed excipients for drug formulations. For instance, in July 2021, DFE Pharma launched a co-processed excipient, Pharmacel sMCC 90, silicified microcrystalline cellulose (MCC). It has been developed as the synergistic solution for challenging oral solid dosage formulations. A co-processed excipient is a promising tool in the production of pharmaceutical products. Existing co-processed adjuvants cannot fulfill all the needs for the preparation of various novel formulations. There is also enough space for the production of new co-processed excipients to satisfy the demand of the pharmaceutical industries, which is expected to act as an opportunity for the growth of the pharmaceutical excipients market during the forecast period.
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Pharmaceutical Excipients Market: Strategic Insights
Market Size Value in US$ 7,825.38 Million in 2021 Market Size Value by US$ 12,245.04 Million by 2028 Growth rate CAGR of 6.6% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Pharmaceutical Excipients Market: Strategic Insights
| Market Size Value in | US$ 7,825.38 Million in 2021 |
| Market Size Value by | US$ 12,245.04 Million by 2028 |
| Growth rate | CAGR of 6.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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The pharmaceutical excipients market comprises major competitive players who adopt various strategies such as product launches, geographic expansion, and technological advancements. A few recent developments in the market are listed below:
- In July 2022, Roquette announced addition of a new grade to its PEARLITOL SD mannitol range for direct compression – PEARLITOL 150 SD. Developed specifically for active pharmaceutical ingredients (APIs) that are highly sensitive to reducing sugars, PEARLITOL 150 SD supports opportunities to unlock advanced tablet dosage forms, even when using challenging active ingredients.
- In October 2019, Ashland announced the launch of three new pharmaceutical solutions—Plasdone S630 Ultra, Benecel XR and XRF, and Viatel bioresorbable polymers. Ashland stated that it is expanding its portfolio to meet growing needs by formulators and will introduce them at the upcoming tradeshows AAPS and CPhI.
- In January 2021, ADM won the 2021 BIG Innovation Awards presented by the Business Intelligence Group. ADM Biopolis’ groundbreaking probiotic strain, Bifidobacterium lactis (BPL1), was featured among the 2021 winning products.
The active participation of market players in product innovation and development, coupled with an increase in approvals of products, fuels the growth of the pharmaceutical excipients market. Also, with the advanced technologies, the market would grow exponentially during the forecast period.
Regional Overview
Asia Pacific was the fastest-growing pharmaceutical excipients market in 2021 owing to the rising interest of major players in developing countries and increasing number of global key players willing to outsource their excipients manufacturing activities from Asia Pacific countries due to availability of low manufacturing and labor costs. The growing population in countries such as China and India is likely to increase the demand for pharmaceutical excipients in the region. China has launched over 500 types of pharmaceutical excipients. According to the World Health Organization (WHO), ~400 pharmaceutical excipient manufacturers are in China, ~23% of which specialize in producing pharmaceutical excipients, while the remaining ones focus on chemical and food processing. Currently, Colorcon (US), Meggle (Germany), Degussa (Germany), Roquette (France), and other leading foreign pharmaceutical excipient companies have established joint ventures, wholly owned companies, or offices in China. Colorcon provides film-coated products, Roquette pharmaceutical provides starch, while Meggle primarily provides pharmaceutical lactose and polyols. A few pharmaceutical excipient giants of China are Sunhere Pharmaceutical Excipients, Er-Kang Pharmaceuticals, Dongbao Bio-Tech, Zhanwang Pharmaceutical, Qinghai Gelatin, Shandong Liaocheng A Hua Pharmaceutical, and Qufu Tianli. Still, their market concentration rate is relatively low.
Ranking among the most extensive Chinese pharmaceutical excipient producers with complete types, Er-Kang Pharmaceutical holds 116 pharmaceutical excipients and a capacity of 45,000 tons (40,823.313 Metric Tons) or more. The company has continued to pursue an epitaxial expansion strategy in the last two years and enhance the market layout. Similarly, Sunhere Pharmaceutical Excipients is a Chinese member of the International Pharmaceutical Excipient Confederation (IPEC), mainly producing microcrystalline cellulose, hypromellose, hydroxypropyl cellulose, and 18 other types of new-type pharmaceutical excipients with the capacity of 10,000 tons (9,071.847 Metric Tons).
Zhanwang Pharmaceutical supplies 28 pharmaceutical excipient products, including pre-gelatinized starch, hypromellose, carboxymethyl starch sodium, and microcrystalline cellulose, with a capacity of more than 10,000 tons (9,071.847 Metric Tons). The US FDA and the European COS have certified some of the company's production bases. Exports have now contributed 25% to the company's revenue. Additionally, in July 2019, JRS Pharma announced that many of its excipient products are being registered with the National Medical Products Administration (NMPA, former CFDA). The NMPA is the Chinese agency tasked to draft regulations and laws for medical devices and drugs in China. These Commercial Data Masking Facility (CDMF) filings permit pharmaceutical companies worldwide to manufacture and sell pharmaceutical products in China, utilizing JRS Pharma's excipients.
Lucrative Regions for Global Pharmaceutical Excipients Market
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Application Insights
Based on application, the global pharmaceutical excipients market is segmented into parenteral, orals formulations & tablets, capsules, liquid & injectable, physicochemical excipient container interactions in prefilled syringes, nutraceuticals & OTC, topical, and others. The oral formulation & tablets segment held the largest share of the market in 2021. Tablets are the most widely used dosage form. Tablet excipients include diluents, binders, lubricants, glidants, anti-adherents, and super disintegrants. Lactose, spray-dried lactose, microcrystalline cellulose, and sorbitol are a few examples of diluents. Examples of binders include gelatin, glucose, Lactose, and cellulose derivatives (methylcellulose). Lubricants include insoluble stearic acid, magnesium stearate, calcium stearate, talc, and paraffin. On the other hand, soluble excipients include sodium lauryl sulfate; sodium benzoate; and PEG 400, 600, and 800. Further, super disintegrant excipients used in tablets include croscarmellose sodium (Ac-di-sol), crospovidone (polyplasdone), and sodium starch and glycollate Starch. Excipients intended for oral formulations involve bulking or stabilizing agents, solubility enhancers, and therapeutic agents. Excipients also aid in the identification of a product along with improving the overall safety or functioning of the product during storage.
However, the global pharmaceutical excipients market in the physicochemical excipient-container interactions in prefilled syringes segment is expected to grow during the forecasted period. According to a report published in the Parenteral Drug Association (PDA) Journal of Pharmaceutical Science and Technology in 2022, chemical studies suggest that parenteral formulation excipients may interact with silicone oil in prefilled syringes, thereby causing variations in glide force and affecting the performance of autoinjectors. Therefore, it is crucial to control the glide force of the prefilled syringes to mitigate dose inaccuracies. The chemical stability analysis of surfactants suggested that the degradation of excipients also impacts syringe functionality. Various studies have been conducted to study the impact of different surfactants and their functionality on prefilled syringes. For example, upon storing syringes filled with different surfactant solutions at various temperatures, a rise in syringe glide force was noted. Such research results reveal that the use of surfactants in prefilled syringes has to be limited to avoid pharmaceutical-excipient container interactions.
Global Pharmaceutical Excipients Market, by Application – 2021 and 2028
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Companies operating in the pharmaceutical excipients market adopt product innovation strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the market.
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Global Pharmaceutical Excipients Market – Segmentation
The pharmaceutical excipients market is segmented on the basis of type, clinical indication, functionality, application, end user, and geography. Based on type, the market is segmented into bioresorbable polymers, lipids, and liposome-based formulation; oleochemicals; sugars; cellulose; starches; petrochemicals; plant proteins, polyols and cyclodextrins; inorganic chemicals; and others. Based on clinical indication, the pharmaceutical excipients market is segmented into cancer, metabolic, infectious diseases, dental, ophthalmic, gene therapies, and others. Based on functionality, the market is segmented into coloring agent & coating agent; sweetener & flavoring agents; suspending & viscosity agents; preservative & controlled-release; antioxidant & oil; tablet filler & diluents; binders, compression aids, and granulating agents; and others. By application, the pharmaceutical excipients market is segmented into parenteral, oral formulations & tablets, capsules, liquid & injectables, physicochemical excipient-container interactions in prefilled syringes, nutraceuticals & OTC, topical, and others. Based on end user, the pharmaceutical excipients market is segmented into biopharma industries, pharma industries, animal health, and others. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Company Profiles
- JRS PHARMA GmbH & Co KG
- Roquette Freres SA
- BASF SE
- Evonik Industries AG
- AshLand Inc
- Archer-Daniels-Midland Co
- The Dow Chemical Co
- The Lubrizol Corp
- Avantor Inc
- MEGGLE GmbH & Co KG.
- Univar Solutions Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Clinical Indication, Functionality, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on the end user, pharma industries segment took the forefront leaders in the worldwide market by accounting largest share in 2021 and is expected to continue to do so till the forecast period.
Growing generics and increasing product launches are the most significant factors responsible for the overall market growth.
Based on application, the oral formulations & tablets segment took the forefront leaders in the worldwide market by accounting largest share in 2021 and is expected to continue to do so till the forecast period.
Pharmaceutical excipients is also known as cryotherapy which comprises the use of cold materials for pain management in orthopedic conditions, soft tissue injuries, and musculoskeletal disorders. Pharmaceutical excipients reduce the blood flow to the affected area which helps in the reduction of pain, swelling, and inflammation.
The inorganic chemicals segment dominated the pharmaceutical excipients market and accounted for the largest market share in 2021.
JRS Pharma GmbH & Co KG, Roquette Frères SA, BASF SE, Evonik Industries AG, Ashland Inc, Archer-Daniels-Midland Co, The Dow Chemical Co, The Lubrizol Corp, Avantor Inc, MEGGLE GmbH & Co KG, and Univar Solutions Inc among others are among the leading companies operating in the pharmaceutical excipients market.
Pharmaceutical excipients market is segmented by countries comprising of North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
The List of Companies - Pharmaceutical Excipients Market
- JRS Pharma GmbH & Co KG
- Roquette Frères SA
- BASF SE
- Evonik Industries AG
- Ashland Inc
- Archer-Daniels-Midland Co
- The Dow Chemical Co
- The Lubrizol Corp
- Avantor Inc
- MEGGLE GmbH & Co KG
- Univar Solutions Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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