Overview of This Study:

In order to determine the current size of the pharmaceutical excipients market, this study engaged in four main activities. A thorough investigation was conducted using secondary research methods to gather data about the market, its parent market, and its peer markets. Through primary research, these conclusions, hypotheses, and sizing were then confirmed with industry experts throughout the value chain. To estimate the total market size (pharmaceutical excipients market size), both top-down and bottom-up methods were used. The market size of the various segments and subsegments was then estimated using data triangulation techniques and market breakdown.

Major Growth Influencing Factors:

Over the forecast period of 2023 to 2028, the pharmaceutical excipients market is expected to grow at a compound annual growth rate (CAGR) of 6.8%. Growing emphasis on patient-centric formulations, higher R&D investments for the development of novel excipients, and rising demand for pharmaceuticals and generic drugs are the main factors driving the market's growth. In the near future, partnerships and collaborations for tailored excipient solutions with pharmaceutical companies should accelerate market growth.

Future Revenue Growth Trends:

With a predicted revenue of $10.0 billion in 2023 and a projected compound annual growth rate (CAGR) of 6.8% from 2023 to 2028, the global pharmaceutical excipients market is expected to reach $13.9 billion. A market trend analysis is included in the latest research study. Key stakeholders, conference and webinar materials, pricing analysis, patent analysis, industry trends, and market purchasing patterns are all included in the latest research study.

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Global Industry Segmentation:

The organic chemicals segment dominated the market share in 2022 for the product segment.

The pharmaceutical excipients market is divided into three segments based on product type: inorganic chemicals, organic chemicals, and other chemicals. The majority of compounds classified as organic have carbon atoms covalently bonded to other elemental atoms. It is anticipated that the non-toxic properties of organic chemicals will propel the organic chemicals segments, thereby driving the pharmaceutical excipient market from 2023 to 2028.

Fillers and Diluents segment achieved top market share for the functionality segment in 2022

In2022, the fillers and diluents category held the lion's share of the market. Fillers and diluents give the product shape, weight, or consistency. Because fillers and diluents are increasingly used in the development and production of solid oral drugs, the market for these products is anticipated to expand. Due to their benefits for both patients and manufacturers, tablets are the most widely used dosage form and can therefore propel the market for fillers and diluents. The industry for lubricants and glidants is anticipated to expand at the fastest rate due to their ability to enhance a formulation's flow characteristics by lowering cohesion and friction between particles.

Geographical Growth Dynamics:

The Asia Pacific region predicted to showcase the most rapid growth during the forecast period.

Because labor and manufacturing costs are so low in China and India, the Asia Pacific region is expected to grow at the fastest rate in the market. Pharmaceutical companies have made large investments in these nations due to their cost advantages. The region's strong market growth is also attributed to the increasing incidence of age- and lifestyle-related illnesses, rising disposable income, and government programs to upgrade healthcare facilities.

Key Players:

The global pharmaceutical excipients market is highly competitive with multiple companies competing for high market shares. The prominent players operating in this market include International Flavors & Fragrances Inc. (US), Ashland Inc. (US), Evonik Industries AG (Germany), BASF SE (Germany), Kerry Group Plc (Ireland), Roquette Frères (France), Merck KGaA (Germany), Associated British Foods Plc (UK), ADM (US) and Wacker Chemie AG (Germany) among others.

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Recent Developments of Pharmaceutical Excipients Industry:

# In June 2023, Ashland introduced Polyplasdone Plus, a co-processed multifunctional direct compression superdisintegrant comprising a glidant and lubricant.

# In October 2023, Lubrizol Life Science Health was awarded the Finished Formulation Award for Apisolex Polymer solubilizing excipient at CPhI Barcelona.

# In July 2022, DFE Pharma announced the broadening of its Dry Powder Inhalation (DPI) portfolio by launching Lactohale 400.

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