The Pharmaceutical Excipients Market Overview:
Excipients are substances formulated along with the active pharmaceutical ingredient (API) in a drug product. Excipients assist in improving stability, solubility, bioavailability, and manufacturability of APIs. Common excipients used include fillers, disintegrants, lubricants, coating materials, preservatives, flavoring agents, and coloring substances. Advantages of excipients includes increasing shelf life of drugs, improving API solubility and bioavailability, and enhancing patient compliance.

The Pharmaceutical Excipients market is estimated to be valued at US$ 10.7 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Pharmaceutical Excipients Market key trends:
One of the major trends propelling market growth is increasing research and development activities in drug formulations by key pharmaceutical companies. Pharmaceutical companies are focusing on developing efficient formulations through novel drug delivery systems such as transdermal drug delivery, liposomes, and polymeric drug conjugates. These novel drug delivery systems require development and evaluation of new excipients to achieve desired pharmacological effects. Furthermore, growing demand for orally disintegrating tablets and biologics also drives the need for innovative excipients. Key market players are focusing on developing multifunctional excipients and nanotechnology-based excipients to enhance drug delivery.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as high capital investments and manufacturing scale needed to be competitive in the pharmaceutical excipients market. Bargaining power of buyers: The bargaining power of buyers is moderate as excipients are key components in drug delivery and end-users depend on excipient suppliers for innovation and reliability of supply. Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many global players able to supply different types of excipients and players differentiate based on consistency, innovation and quality. Threat of new substitutes: There is low threat of new substitutes as excipients have applications basis their specific functional properties in drug formulations. Competitive rivalry: The competitive rivalry is high among the key global players due to their focus on research and differentiation.

SWOT Analysis
Strength: Excipients suppliers have strong technical expertise and capabilities to develop niche offerings as per customer needs. The market is fragmented with few large players controlling majority share.
Weakness: Regulatory approvals and changing standards can impair new product development cycles. Dependence on parent drug launches for revenues.
Opportunity: Emerging markets in Asia Pacific provide growth opportunities due to increasing healthcare spends and generic drugs production. Increasing uptake of biologics and orally disintegrating tablets acts as a driver.
Threats: Stringent regulatory framework and entry barriers increase complexities. Supply chain disruptions during pandemic events affect pricing and availability of materials.

Key Takeaways
The Global Pharmaceutical Excipients Market Size is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing demand for generic drugs. North America currently dominates the global market, with the United States being the major revenue generator.

Regional analysis: Europe is the second largest and fastest growing regional market for pharmaceutical excipients owing to rising healthcare expenditures and growing pharmaceutical industry in the region. Key players like Kerry Group plc, DFE Pharma, and Cargill operate manufacturing facilities across various European countries to cater to the demand.

Key players: Key players operating in the pharmaceutical excipients market are Kerry Group plc., DFE Pharma, Cargill, Incorporated, Pfanstiehl, Colorcon, MEGGLE GmbH & Co. KG, Omya AG, Peter Greven GmbH & Co. KG, Ashland., Evonik, Dow, Croda International Plc, Roquette Frères., The Lubrizol Corporation, BASF SE, Avantor, Inc., BENEO, Chemie Trade, among others. These players are focusing on new product launches and expansion strategies to strengthen their market position.

Get more insights on this topic:

https://www.zupyak.com/p/3948746/t/bioavailability-enhancement-is-the-fastest-growing-segment-fueling-the-growth-of-pharmaceutical-excipients-market