According to the new market research report, "Pharmaceutical Excipients Market by Product (Organic Chemicals (Carbohydrates [Sugar (Dextrose)], Inorganic Chemicals), Functionality (Fillers, Diluents, Coating, Disintegrants), Formulation (Tablet, Capsule, Topical, Parenteral) - Global Forecast to 2026" The pharmaceutical excipients market is projected to reach USD 10.6 billion by 2026 from USD 7.9 billion in 2021, at a CAGR of 5.8% during the forecast period.

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The overall growth of the pharmaceutical excipients market is largely driven by the growing pharmaceuticals market, advancements in functional excipients, and the growing generics market. The rapidly growing biopharmaceuticals sector will also influence market growth for pharmaceutical excipients. However, the increasing regulatory stringency regarding the approval of drugs and excipients along with the cost and time-intensive drug development process are expected to restrain the growth of this market during the forecast period.

Global Companies:

The global pharmaceutical excipients consist of a large number of leading market players based in developed countries. The prominent players in this market are 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).

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DuPont held the leading position in the pharmaceutical excipients market in 2020. DuPont offers a comprehensive portfolio of excipients, including rheology modifiers, tablet coatings, controlled release, stabilizers, solubilizers, binding agents, and masking agents. DuPont significantly invests in R&D activities to add innovative technologies and products to its portfolio, which, in turn, helps the company strengthen its presence in the pharmaceutical excipients market. For instance, in 2019, DuPont invested USD 955 million in R&D activities. With a strong portfolio of pharmaceutical excipients and a focus on developing innovative products, the company is likely to maintain its strong position in this market in the coming years. Moreover, the company has a strong global presence and distribution network, with subsidiaries in more than 160 countries. It is further expanding inorganically through acquisitions.

Roquette Feres held the second position in the global market. Roquette is a global manufacturer of pharmaceutical excipients. The company has strengthened its position in this market through market expansion activities and innovations. The company owns more than 5,000 patents and has around 300 employees dedicated to the R&D of novel solutions. Roquette is currently focusing on expanding its presence in emerging economies. In line with this, Roquette acquired Itacel, the excipient division of Blanver in Brazil. Roquette also acquired a majority stake in the Lithuaniabased company, Amilina, a producer of starch and derivatives.

While achieving expansion in high-growth international markets, the company also intends to expand its pharmaceutical excipients product portfolio with the launch of new specialty excipients for the pharmaceutical industry. In this regard, Roquette introduced Maize Starch IP/BP and Mannitol IP, which are used as fillers in the pharmaceutical industry. The company also launched three new excipient brands. For its future growth, Roquette intends to further strengthen its existing relationships with key customers by organizing customer meetings, field visits, and training sessions on proactive quality management regularly in order to understand company functionalities and product portfolios better.

Europe is expected to account for the largest share of the pharmaceutical excipeints market in 2020

In 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.

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