The global Excipients Market is estimated to reach US$ 6.9 billion by 2025 and is anticipated to grow with a CAGR of 6.02% throughout the forecast period. An excipient is an active ingredient of medication for long-term stabilization and for bulking up solid formulations. Also, exclusively used in the manufacturing process for handling the active substance like facilitating powder flowability.
The factors that are playing a major role in the growth of excipients industry are the rising reach of generic medicines, the high demand for newer excipients, the developing generics market, and the rising demand from end-users. However, the rising regulatory stringency and the high cost & time-consuming process may restrain the overall market in the years to come. Excipients market is segmented based on product type, formulation, and region.
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Gelatin, polymers, minerals, alcohols, and sugars are the product types that could be explored in excipients industry in the forecast period. Polymers sector comprises acrylic polymers, MCC, polyethylene glycol, HPMC, sodium starch glycolate, ethyl cellulose, and others. Minerals sector comprises titanium dioxide, calcium phosphate, silicon dioxide, calcium carbonate, and others. Whereas, alcohols sector comprises mannitol, glycerin, sorbitol, propylene glycol, and others. Sugars sector comprises sucrose and lactose.
Polymers sector accounted for the substantial share of excipients market in terms of volume and revenues and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the high demand from pharma sector and its rising use in several dosage forms like tablets, suspensions, and capsules. In addition, sugars sector is estimated to grow at the fastest pace in the years to come.
Based on the formulation, parenteral, oral, topical, capsules formulations, and others could be explored in excipients industry in the forecast period. The oral route of administration accounted for the substantial market share of excipients and is estimated to continue its dominance in the years to come. This may be because it is a traditional and common way for drug delivery.
Globally, Europe accounted for the substantial share of excipients market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the rising demand for pharmaceuticals and the presence of European medicines agency scientific guidelines on excipients.
North America and the Asia Pacific are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of excipients in this region. Also, the MEA region is estimated to grow at the lucrative pace in the years to come.
The key players of excipients industry are Finar Limited, Eastman Chemical Corporation, DFE Pharma, P&G Chemicals, Shin-Etsu Chemical Co., Ltd., Avantor Performance Materials, LLC, JRS Pharma, Huntsman Corporation, Valeant, BASF SE, Lubrizol Corporation, Ashland Inc., Colorcon Inc., and FMC Corporation. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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