Global Pharmaceutical Excipients Market Is Estimated
To Witness High Growth Owing To Increasing Demand for Drug Delivery Systems and
Rising Pharmaceutical Industry.

The Pharmaceutical Excipients Market
is estimated to be valued at US$
7,835.63 Million In 2021 and is expected to exhibit a CAGR of 5.3% over the forecast period from 2023 to 2030, as
highlighted in a new report published by Coherent Market Insights.



Market Overview:

Pharmaceutical excipients are inactive substances added along with active
pharmaceutical ingredients (APIs) in drug formulations to aid in better drug
delivery. They are used to enhance drug stability, solubility, absorption, and
bioavailability. These excipients also provide color, flavor, and controlled
release properties to the final products. The increasing demand for novel drug
delivery systems, such as oral solid dosage forms, topical formulations, and
parenteral dosage forms, is driving the demand for pharmaceutical excipients.
Additionally, the growing pharmaceutical industry, especially in emerging
economies, is further boosting market growth.



Market Dynamics:

The pharmaceutical excipients market is driven by two main factors - the
increasing demand for drug delivery systems and the rising pharmaceutical
industry. The demand for drug delivery systems is growing as patients require
more convenient and effective methods of drug administration. Pharmaceutical
excipients play a crucial role in improving the drug delivery and patient
compliance. The rising pharmaceutical industry is another key driver, as the
increasing prevalence of chronic diseases and the need for advanced therapies
are driving the demand for pharmaceutical products. This, in turn, is fueling
the demand for pharmaceutical excipients. Overall, the market is expected to
witness high growth in the coming years due to these drivers.



SWOT Analysis:



Strengths:

- Strong market demand: The Pharmaceutical Excipients Market is expected to witness high growth, exhibiting a CAGR
of 5.3% over the forecast period. This indicates a strong and growing demand
for pharmaceutical excipients.

- Established key players: The market is dominated by key players such as BASF
SE, DOW Chemical Company, FMC Corporation, and Evonik Industries AG. These
companies have a strong presence and expertise in the market, providing a
competitive advantage.



Weaknesses:

- Regulatory challenges: The pharmaceutical excipients market is heavily
regulated, which can pose challenges for companies in terms of compliance and
obtaining necessary approvals. This could result in increased costs and delays
in product development.

- Dependency on the pharmaceutical industry: The market's growth is closely
tied to the growth of the pharmaceutical industry. Any downturn or stagnation
in the pharmaceutical sector could negatively impact the demand for
pharmaceutical excipients.



Opportunities:

- Increasing adoption of novel excipients: With advancements in drug delivery
systems and formulations, there is a growing need for innovative excipients
that can enhance drug efficacy and patient compliance. This presents an
opportunity for companies to develop and introduce new excipients in the
market.

- Expansion in emerging markets: Emerging markets, such as Asia-Pacific and
Latin America, offer significant growth opportunities for the pharmaceutical
excipients market. The increasing pharmaceutical production and consumption in
these regions create a favorable environment for market expansion.



Threats:

- Intense competition: The pharmaceutical excipients market is highly
competitive, with several key players operating in the market. This intensifies
competition and puts pressure on companies to differentiate themselves through
product innovation and quality.

- Pricing pressures: With increasing cost-consciousness in the healthcare
industry, there is a constant pressure on pricing. This can impact profit
margins for pharmaceutical excipients manufacturers, especially if they are
unable to control costs effectively.



Key Takeaways:



The global pharmaceutical excipients market is expected to witness significant
growth, exhibiting a CAGR of 5.3% over the forecast period. This growth is
driven by the increasing demand for pharmaceutical excipients and the presence
of established key players. Among the regions, Asia-Pacific is expected to be
the fastest-growing and dominating region, due to the rising pharmaceutical
production and consumption. Key players operating in the pharmaceutical
excipients market include BASF SE, DOW Chemical Company, FMC Corporation,
Evonik Industries AG, and others. These companies have a strong presence and
contribute to the overall competitiveness of the market.