Excipients Market To Observe Huge Growth Worth USD 9.37 Billion By 2030, Due To Increasing Usage Of Generic Medicines And Rising Demand For Multifunctional Excipients | Grand View Research, Inc.

Excipients Market To Observe Huge Growth Worth USD 9.37 Billion By 2030, Due To Increasing Usage Of Generic Medicines And Rising Demand For Multifunctional Excipients | Grand View Research, Inc.

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According to a new report published by Grand View Research, ongoing research and discovery of ideal or near-ideal substances that can be used in drug formulations and delivery have given the excipients market a definite boost.

Excipients Industry Overview

The global excipients market size was estimated at USD 5.53 billion in 2021 and is expected to reach USD 9.37 billion by 2030, expanding at a CAGR of 6.0% for the forecast period from 2022 to 2030

Increasing usage of generic medicines and rising demand for multifunctional excipients are expected to be the key factors driving revenue growth. Excipients have been recognized to provide better functionality and competitive advantage in drug formulations and this has contributed to their increased usage by pharmaceutical firms in recent years. Ongoing research and discovery of ideal or near-ideal substances that can be used in drug formulations and delivery have given the market a definite boost. Another factor contributing to global growth is that most pharmaceutical firms have been developing more sophisticated excipients with an enhanced role in drug delivery.

Gather more insights about the market drivers, restrains and growth of the Global Excipients market

In the midst of the COVID-19 pandemic, the excipients organizations confronted huge difficulties, like a low inventory of clinical items. The excipients organizations are likewise among the ventures that the COVID-19 pandemic has straightforwardly affected. Faults in the worldwide supply chain, for example, an effect on the obtaining, procurement, and distribution of drug products, remained significant. Besides, there were numerous initiatives taken by key market players during the pandemic. For example, in November 2020, Croda International Plc went into an arrangement with Pfizer Inc to supply added substances for assembling its COVID-19 vaccine, sending the portions of the United Kingdom-based specialty chemical organization to a record high. The agreement with Pfizer runs for a considerable length of time and grants Croda an underlying stock agreement for four-part excipients utilized in the creation of the vaccine for the initial three years of the agreement. Such associations would give positive development in the impending future.

Germany excipients market size, by product, 2020 - 2030 (USD Million)

There is a rising demand for novel substances that support nanoparticle drug delivery for oncological medications to provide better stability and adoption of medicines. This is also likely to propel market growth. The patent expiry of blockbuster drugs is also expected to boost the market at a significant pace. 

Currently, companies are working on the optimization of excipients in drug formulations and delivery. They are also engaged in the development of such formulations. These factors are expected to have a major impact on the development and marketing of these products in the future.

 

Excipients Market Segmentation 

Based on the Product Insights, the market is segmented into Polymers, Alcohols, Sugars, Minerals and Gelatin.

  • Polymers, comprising microcrystalline cellulose and pregelatinized starch, emerged as the leading product category in terms of both revenue and volume. It accounted for over 44% of the total revenue in 2021 and almost 40% of the overall volume used in pharmaceutical formulations.
  • Sugars have emerged as the second-largest product segment, accounting for around 30% of the overall revenue in 2021. This can be attributed to their spherical shape and porous nature, which provides flowability and low friability, thereby making sugar a preferred choice in a wide range of pharmaceutical applications.

 

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

  • Europe is closely followed by North America and Asia Pacific owing to the presence of larger companies, such as Avantor Performance Materials Inc. and FMC Corporation, that are direct manufacturers of the products.
  • Asia Pacific and Middle East and Africa are expected to grow at a faster rate owing to an expanding generic market and high volume of unmet medical need in the regions. 

 

Browse through Grand View Research’s Healthcare Industry Related Reports

  • Sorbitol MarketThe global sorbitol market size was valued at USD 1.47 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028. The market is expected to witness significant growth over the forecast period owing to the rising usage of diabetic and dietetic food and beverages.

 

  • Mannitol MarketThe global mannitol market size was valued at USD 209.4 million in 2015. It is widely used to coat confectionery products such as candies and gums owing to its unique non-hygroscopic properties. Mannitol which is a type of polyols exhibits similar sweetening property as sugar but contains fewer calories.

 

Market Share Insights:

  • November 2020: Croda International Plc went into an arrangement with Pfizer Inc to supply added substances for assembling its COVID-19 vaccine, sending the portions of the United Kingdom-based specialty chemical organization to a record high. The agreement with Pfizer runs for a considerable length of time and grants Croda an underlying stock agreement for four-part excipients utilized in the creation of the vaccine for the initial three years of the agreement.

 

Key Companies Profile:

The global excipients market is highly competitive and fragmented, with many international companies competing for a large share of the global revenue.

Some of the prominent players in the global excipients market include:

  • Eastman Chemical Corporation
  • P&G Chemicals
  • Avantor Performance Materials, LLC
  • Huntsman Corporation
  • BASF SE
  • Ashland Inc.
  • FMC Corporation
  • Roquette
  • Colorcon Inc.
  • Lubrizol Corporation
  • Valeant
  • JRS Pharma
  • Shin-Etsu Chemical Co., Ltd.
  • DFE Pharma
  • Finar Limited

 

Order a free sample PDF of the Excipients Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

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