Pharmaceutical Excipients Market size is set to grow by USD 4.50 billion from 2024-2028, Increasing demand for functional excipients to boost the market growth, Technavio

NEW YORK, June 24, 2024 /PRNewswire/ — The global pharmaceutical excipients market  size is estimated to grow by USD 4.50 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.17%  during the forecast period. 

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Key Drivers:

  • Rising Demand for Easy-to-Consume Drugs: Pharmaceutical companies are increasingly developing medications that are easier for elderly and young patients to take. This spurs the need for novel excipients that enhance drug delivery and patient compliance.
  • Focus on Functional Excipients: Excipients that improve drug bioavailability and stability are in high demand. Binders, disintegrants, and coatings are some popular examples.
  • Growing Pharmaceutical Production: The expansion of pharmaceutical manufacturing facilities to meet rising drug needs is propelling the excipients market.

Market Challenges:

  • Declining R&D Investments: Reduced research and development spending can hamper the introduction of new excipients and manufacturing facilities. Stringent regulations can further slow down approvals.
  • Stringent Regulations and Complexities: Selecting the right excipients for drug formulations is crucial due to their impact on stability, safety, and effectiveness. Rigid quality and safety requirements necessitate rigorous testing and documentation, adding complexity.

Market Segments:

  • By Type: Organic excipients derived from natural sources like carbohydrates and oleochemicals dominate the market.
  • By Product: Binders and fillers hold the largest market share, followed by coating agents and disintegrants.
  • By Geography: North America currently leads the market, but Asia Pacific is expected to witness significant growth due to a rising patient population and focus on generic drugs.

Future Outlook:

The pharmaceutical excipients market is poised for continued growth. Collaboration between stakeholders, including manufacturers, regulators, and researchers, will be instrumental in addressing challenges and ensuring the development of safe and effective drugs. Advancements in technologies like nanotechnology and 3D printing hold promise for the future of excipients.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

  • Type
    • Organic
    • Inorganic
  • Product
    • Binders And Fillers
    • Coating Agents
    • Disintegrants
    • Others
  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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SOURCE Technavio

Pharmaceutical Excipients Market size is set to grow by USD 4.50 billion from 2024-2028, Increasing demand for functional excipients to boost the market growth, Technavio WeeklyReviewer

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