Pharmaceutical Excipients Global Market - Forecast to 2025

Pharmaceutical excipients are inactive substances in the drug which helps in modulating solubility, bioavailability, and stability of active substances for formulating final drug dosage forms. The excipients form the major part in any medicinal product and proportion of it when compared to Active Pharmaceutical Ingredient (API) exceeds two to three folds in any pharmaceutical preparations. Hence, various characteristics such as functionality, regulatory status, sources, cost, consistency, bioavailability, physicochemical properties, stability, and pharmacokinetic parameters, etc. play a major role in determining the suitability of a substance as an excipient.
As estimated by IQ4I Research, the pharmaceutical excipients global market is expected to grow at a single digit CAGR from 2018 to 2025 to reach $9,911.2 million by 2025. The pharmaceutical excipients market is segmented by source, products, process, functionality, drug dosage forms and finished products.
Pharmaceutical excipients market by the source is segmented as animal-based, plant-based, mineral-based and synthetic based excipients. Plant-based excipients held the highest revenue in 2018 and it is a fastest growing segment at a high single digit CAGR from 2018 to 2025, due to plant-based excipients are cost-effective, low toxic with the better patient tolerance, bio-compatible and they are easily available. By-products, excipients are segmented into inorganic chemicals, organic chemicals and pharmaceutical water. The organic chemicals segment held the highest revenue in 2018 and it is expected to grow at a single digit CAGR from 2018 to 2025, due to the use of these excipients in majorly all of the pharmaceutical formulations as they offer advantages such as increased efficacy in oral delivery of poorly soluble molecules along with increased compressibility and flowability properties.
Inorganic chemical excipients market by type, are further divided into calcium salts, halites, metallic oxides, silicates, and other inorganic chemicals, among which metallic oxides held a major revenue in 2018 and Calcium salts segment is expected to grow at a high single digit CAGR from 2018 to 2025. Calcium salts are further sub-segmented into calcium phosphate and calcium carbonate, among which calcium phosphate held the highest revenue in 2018 and calcium carbonate segment is expected to grow at a high single digit CAGR from 2018 to 2025. Calcium carbonate is further classified into GCC and PCC, among which PCC held the highest revenue in 2018 and it is expected to grow at a high single digit CAGR from 2018 to 2025. Metallic oxides segment are further segmented into titanium dioxide and Others (Iron Oxide, Magnesium Oxide & Aluminum Hydroxide). Titanium Dioxide held the highest revenue in 2018 and it is expected to grow at a mid single digit CAGR from 2018 to 2025.
Organic chemical excipients market by type is further divided into carbohydrates, petrochemicals, oleochemicals, proteins, and other organic chemicals. Oleochemicals held major revenue in 2018 and it is expected to grow at a high single digit CAGR from 2018 to 2025.
Carbohydrate excipients market by type is further segmented into sugar, starch, and cellulose, among which sugar held the largest revenue in 2018 and expected to grow at a mid single digit CAGR from 2018 to 2025. Sugar segment is further divided into actual sugar, sugar alcohol, and artificial sweeteners, where actual sugar held the largest revenue in 2018 and sugar alcohol segment is expected to grow at a mid single digit CAGR from 2018 to 2025.
Actual sugar segment is further sub-segmented into lactose, sucrose, and dextrose, where lactose held the largest revenue in 2018 and dextrose segment is expected to grow at a mid single digit CAGR from 2018 to 2025. Sugar alcohol segment is further classified into sorbitol, mannitol and other sugar alcohols, where mannitol held the largest revenue in 2018 and it is expected to grow at a high single digit CAGR from 2018 to 2025. The starch segment is further divided into modified starch, dried starch and converted starch, where modified starch held the largest revenue in 2018 and dried starch is expected to grow at a mid single digit CAGR from 2018 to 2025. Cellulose segment is further sub-segmented into cellulose ethers, cellulose esters, croscarmellose sodium, and microcrystalline cellulose, where cellulose ethers held the largest revenue in 2018 and microcrystalline cellulose is expected to grow at a mid single digit CAGR from 2018 to 2025.
Petrochemical excipients market by type is further segmented into glycols, povidones, mineral hydrocarbons, acrylic polymers, and other petrochemical excipients. Glycol held the largest revenue in 2018 and acrylic polymers is expected to grow at a high single digit CAGR from 2018 to 2025. Glycol segment is further segmented into Polyethylene Glycol and Propylene Glycol, where Polyethylene Glycol held the largest revenue in 2018 it is expected to grow at a mid single digit CAGR from 2018 to 2025.
Oleochemicals excipients market by type is further segmented into Fatty Alcohols, Metal stearates, Glycerin, and Other Oleochemical Excipients. Fatty Alcohol held the largest revenue in 2018 and Metal stearates is expected to grow at a high single digit CAGR from 2018 to 2025.
Pharma/USP water excipients market by type is further segment into the water for injections and purified water. Water for injections held the largest revenue in 2018 and it is expected to grow at a mid single digit CAGR from 2018 to 2025. Pharmaceutical excipients market by the process is segmented as granulation and direct compression. Granulation held the largest revenue in 2018 and direct compression is expected to grow at a high single digit CAGR from 2018 to 2025.
Pharmaceutical excipients market by functionality is segmented as preservatives, solvent, binders & adhesives, fillers & diluents, suspending agent, coatings, solubilizer, disintegrant, colorant, flavoring & sweeteners, lubricants & glidants, and others. Binders & Adhesives held the largest revenue in 2018 and it is expected to grow at a high single digit CAGR from 2018 to 2025.
Pharmaceutical excipients market by dosage forms is segmented as solid dosage forms, injectables and semisolid, liquid and gaseous. Solid dosage forms held the largest revenue in 2018 and it is expected to grow at a high single digit CAGR from 2018 to 2025. Some of the factors driving the market are solid dosage forms are cost-effective, solid dosage provides increased physical and chemical stability, controlled-release options, and superior ease of handling.
Pharmaceutical excipients market by finished products is segmented as Prescription drugs and OTC. Prescription drugs held the largest revenue in 2018 and it is expected to grow at a mid single digit CAGR from 2018 to 2025.
Pharmaceutical excipients market by region is segmented into North America (U.S. and Rest of North America), Europe (Germany, France, Italy and Rest of Europe), Asia-Pacific (China, India, Japan, and Others) and Rest of the world (Brazil, Rest of Latin America and Middle East & others). North America held the highest revenue in 2018, due to increasing demand for functional excipients, implementation of new novelties like nanotechnology, increasing usage of oral solid dosage forms, increasing incidence of chronic disorders, elderly population and favorable reimbursement scenario for drugs. Asia-Pacific is the fastest growing region with a high single digit CAGR from 2018 to 2025, due to increasing excipients outsourcing by companies, low manufacturing, and low labor costs, adopting modern innovations like nanotechnology, advancement in the development of functional excipients, rise in chronic diseases, growing generics market owing to patent cliffs, rising healthcare demand, better infrastructure, lower capital, and overhead costs. Excipients manufacturers in developing countries face major challenges to develop product with quality at an affordable price, due to lower price of excipients and large number of producers, which creates a price sensitive market. Some manufacturers may compromise the quality of product in order to keep prices low and boost sales, while some of the manufacturers having a larger market for their products, can sell their higher volume excipients at a slightly lower price.
Some of the key players contributing at global level for pharmaceutical excipients market growth are Dow DuPont (U.S.), Ashland, Inc. (U.S.), BASF SE (Germany), DFE Pharma (Germany), Evonik Industries AG (Germany), Associated British Foods Plc (U.K.), Merck KGAA (U.S.), Roquette (France), Colorcon (U.S.), and Asahi Kasei (Japan).
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
o U.S.
o Rest of North America
• Europe
o Germany
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of APAC
• Rest of the World (RoW)
o Brazil
o Rest of Latin America
o Middle East and Others