Pharmaceutical Excipients: Future Revenue Growth Trends by 2028
Posted by MV Mukund on June 10th, 2024
Overview of This Study:
This study involved four major activities in estimating the current size of the pharmaceutical excipients market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. These findings, assumptions, and sizing were then validated with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size (pharmaceutical excipients market size). After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Projected Revenue Growth, Globally:
The global pharmaceutical excipients market in terms of revenue was estimated to be worth .0 billion in 2023 and is poised to reach .9 billion by 2028, growing at a CAGR of 6.8% from 2023 to 2028.
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Growth Impacting Factors:
The major factors attributing to the growth of the market are increasing demand for generic drugs and pharmaceutical products, increased R&D Investments for the development of novel excipients and growing emphasis on patient-centric formulations. Collaborations and partnerships with pharmaceutical companies for customized excipient solutions are likely to boost the growth of the market in the near future.
Pharmaceutical Excipients Market Size Estimation:
The global size of the pharmaceutical excipients market was estimated through multiple approaches. A detailed market estimation approach was followed to estimate and validate the value of the market and other dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size (pharmaceutical excipients market size) includes the following:
# The major players in the industry and market have been identified through extensive primary and secondary research.
# The revenues generated from the pharmaceutical excipients business of players operating in the market have been determined through secondary research and primary analysis.
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Geographical Growth Scenario:
Asia Pacific predicted to exhibit highest CAGR in the pharmaceutical excipients industry during the forecast period of 2023-2028.
There are six main regional segmentations for the pharmaceutical excipients market—North America, Europe, the Asia Pacific, Latin America, Middle East and Africa. In 2022, Europe dominated the market share due to the presence of numerous large production capacity pharmaceutical giants which drive the high excipient consumption rates. The growing emphasis on superior generics, pharmaceutical products, and biosimilars has also increased the demand for novel excipients, which is predicted to drive market growth.
Key Players:
The global pharmaceutical excipients market comprises of many key market players competing for markets shares like 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), Wacker Chemie AG (Germany).
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Opportunity: Increasing growth of functional/Multifunctional Pharmaceutical Excipients
Co-processed multifunctional excipients are a class of pharmaceutical excipients that are created by combining two or more excipients together using a physical process, such as mixing, blending, or granulation. This process alters the physical properties of the individual excipients, resulting in a new excipient with enhanced functionality. These excipients offer several advantages over existing single function excipients such as reduced number of excipients in a formulation thus simplifying the manufacturing process, improved performance of the formulation due to superior flowability, compressibility, binding, and disintegrating properties compared to individual excipients and reduced variability in formulation properties by ensuring consistent batch-to-batch performance of pharmaceutical formulations therefore providing lucrative future market growth opportunities.
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