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The pharmaceutical excipeints market is projected to reach USD 10.6 billion by 2026 from USD 7.9 billion in 2021, at a CAGR of 5.8%

The rising global demand for pharmaceuticals has fueled the growth of drug production, increasing the excipient consumption rate. The discovery of increasingly lipophilic APIs, macromolecules, and biological actives has created the need for well-evaluated excipients and the development of new ones.New York, March 26, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Pharmaceutical Excipients Market by Product, Functionality, Formulation – Global Forecast to 2026” – https://www.reportlinker.com/p03921282/?utm_source=GNW The currently used excipients may not be sufficient to support the newly discovered actives. As a result, demand has grown for newer, improved drugs, which calls for the development of new drug delivery systems that can deal with the challenges of drug development, such as bioavailability, permeability, and poor solubility. These challenges can be addressed through functional excipients for manufacturing drugs, fueling the demand for pharmaceutical excipients.Based on product, the organic chemicals segment holds the largest market share during the forecast period.Based on product, the pharmaceutical excipients market is segmented into three major categories— organic chemicals, inorganic chemicals, and other chemicals.In 2020, the organic chemicals segment accounted for the largest market share.This segment is also projected to register the highest CAGR during the forecast period.In 2020, the organic chemicals segment accounted for the largest share of the pharmaceutical excipients market.The large share of this segment can be attributed to the use of these chemicals in a majority of pharmaceutical formulations.Based on functionality, the fillers & dilluents is expected to have significant market size during the forecast period.Based on functionality, pharmaceutical excipients are categorized into fillers & diluents, binders,suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants,lubricants & glidants, preservatives, emulsifying agents, and other functionalities. By functionality, fillers & diluents held the largest share in 2020. The demand for fillers and diluents is high as they are utilized in manufacturing tablets and capsules.Based on formualtions, the oral formulations segment holds the largest market share during the forecast period.Based on the formulation, the pharmaceutical excipients market is segmented into oral, topical,parenteral, and other formulations. Oral formulations dominate this market due to their wide usage andefficacy against many ailments. Healthcare professionals recommended antiviral drugs as the primary line of defense against COVID-19. Due to their effectiveness in resolving pneumonia and respiratory ailments caused by the virus, these drugs were prescribed in large numbers. Since they are produced in tablet form for oral consumption, the oral formulations market has received a significant boost.Europe is expected to account for the largest share of the pharmaceutical excipeints market in 2020In 2020, Europe accounted for the largest share of the pharmaceutical excipients market, followed by North America, the Asia Pacific, Latin America, and the Middle East & Africa.Many European countries are focusing their attention on the generics market due to the expiration of blockbuster drug patents in the coming years.As a result, the European region is expected to witness major growth in its generics market during the forecast period, which will propel the demand for pharmaceutical excipients.Increasing government initiatives in countries such as Germany, Italy, and Spain for reducing drug prices are expected to drive the market for generic drugs in these countries.The abovementioned factors, alongside increasing investments for the development of biologics and advanced dosage forms, will increase the demand for novel excipients and thereby aid the growth of the pharmaceutical excipients market in Europe.Break of primary participants was as mentioned below:• By Company Type – Tier 1–35%, Tier 2–45%, and Tier 3–20%• By Designation – C-level–35%, Director-level–25%, Others–40%• By Region – North America–45%, Europe–30%, Asia Pacific–20%, Latin America- 3%, Middle East and Africa–2%Key players in the Pharmaceutical excipients marketThe key players operating in the pharmaceutical excipeints market include Ashland Global Holdings (US), BASF SE (Germany), DuPont (US), Roquette Feres (France), Evonik Industries AG (Germany), Associated British Foods (UK), Archer Daniels Midland Company (US), Lubrizol Corporation (US), and Croda International (UK). Other players in this market are Innophous Holdings (US), Kerry Group (Ireland), WACKER Chemie AG (Germany), Colorcon (US), DFE Pharma (Germany), JRS Pharma (Germany), and Air Liquide (France).Research Coverage:The report analyzes the pharmaceutical excipients market and aims at estimating the market size and future growth potential of this market based on various segments such as product, functionality, formulations, and region. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.Reasons to Buy the ReportThe report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.This report provides insights into the following pointers:• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global pharmaceutical excipients market. The report analyzes this market by product, functionality and formulations• Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global pharmaceutical excipients market• Market Development: Comprehensive information on the lucrative emerging markets by product, functionality, formulations, and end user• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global pharmaceutical excipients market• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global pharmaceutical excipients market.Read the full report: https://www.reportlinker.com/p03921282/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.__________________________ CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001