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Pharmaceutical Excipients Market Worth US$ 9,873.53 million by 2027 - Roquette Frères, Associated British Foods, DFE Pharma, Lubrizol, Archer Daniels Midland Company
Global Pharmaceutical Excipients Market, by Type of Formulation – 2019 & 2027
The pharmaceutical excipients market was valued at US$ 6,521.74 million in 2019 and is projected to reach US$ 9,873.53 million by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.
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Pharmaceutical excipients are used in the form of a pharmaceutical dosage, not for their direct therapeutic action, but for the production process, protecting, supporting or enhancing stability, or for bioavailability or acceptability of patients. They also assist in the identification of products and improve the overall safety or function of the product during its storage or use.
DuPont de Nemours, Inc.; Roquette Frères; Ashland Global Holdings, Inc.; BASF SE; Evonik Industries AG; Associated British Foods Plc; Archer Daniels Midland Company; Lubrizol Corporation; Croda International Plc; and DFE Pharma are among the prominent players operating in pharmaceutical excipients market.
Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and others products. In 2019, the organic chemicals segment held the largest market share, and is expected to dominate the market during the forecast period due to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry. Moreover, the same segment is anticipated to grow at the fastest rate during the forecast period.
The coronavirus pandemic is estimated to have significant impact on the pharmaceutical excipients market. Majority of the pharmaceutical companies around the globe are engaged in the development of vaccines for coronavirus. However, this shift of focus is anticipated to have a negative impact on the other segments of the market. Also, disruptions in supply chain caused due to halt in global operations are projected to have an adverse impact on the market.
Oral bioavailability of these compounds is low due to poor solubility. In order to increase the bioavailability of these poorly soluble products, formulation methods are used to improve their aqueous solubility and dissolution. ~90% of newly discovered therapeutic compounds in the developmental process are reported to exhibit low aqueous solubility. Additionally, ~40% of new medicines prescribed to patients in hospitals are estimated to have relatively poor aqueous solubility. These drugs require functional excipients to help resolve their weak physico-chemical properties.
The Report Segments the Global Pharmaceutical Excipients Market as Follows:
Global Pharmaceutical Excipients Market – by Product
Organic Chemicals
Inorganic Chemicals
Other Products
Global Pharmaceutical Excipients Market – by Functionality
Fillers and Diluents
Suspending and Viscosity Agents
Coating Agents
Binders
Preservatives
Emulsifying Agents
Other Functionalities
Global Pharmaceutical Excipients Market – by Type of Formulation
Oral Formulations
Topical Formulations
Parenteral Formulations
Other Formulations
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