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.
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.
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Browse through Grand View Research’s Healthcare Industry Related Reports
Market Share Insights:
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:
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
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/excipients-market-analysis