Excipients Market Size, Share & Trends Analysis Report By Type (Polymers, Alcohols, Sugars, Minerals, Gelatin), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global excipients market size was estimated at USD 5.53 billion in 2021 and is expected to advance at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030. Increasing usage of generic medicines and rising demand for multifunctional excipients are expected to be the key factors driving revenue growth. Excipients have been recognized to provide better functionality and competitive advantage in drug formulations and this has contributed to their increased usage by pharmaceutical firms in recent years. Ongoing research and discovery of ideal or near-ideal substances that can be used in drug formulations and delivery have given the market a definite boost. Another factor contributing to global growth is that most pharmaceutical firms have been developing more sophisticated excipients with an enhanced role in drug delivery.

In the midst of the COVID-19 pandemic, the excipients organizations confronted huge difficulties, like a low inventory of clinical items. The excipients organizations are likewise among the ventures that the COVID-19 pandemic has straightforwardly affected. Faults in the worldwide supply chain, for example, an effect on the obtaining, procurement, and distribution of drug products, remained significant. Besides, there were numerous initiatives taken by key market players during the pandemic. For example, in November 2020, Croda International Plc went into an arrangement with Pfizer Inc to supply added substances for assembling its COVID-19 vaccine, sending the portions of the United Kingdom-based specialty chemical organization to a record high. The agreement with Pfizer runs for a considerable length of time and grants Croda an underlying stock agreement for four-part excipients utilized in the creation of the vaccine for the initial three years of the agreement. Such associations would give positive development in the impending future.

There is a rising demand for novel substances that support nanoparticle drug delivery for oncological medications to provide better stability and adoption of medicines. This is also likely to propel market growth. The patent expiry of blockbuster drugs is also expected to boost the market at a significant pace.

Currently, companies are working on the optimization of excipients in drug formulations and delivery. They are also engaged in the development of such formulations. These factors are expected to have a major impact on the development and marketing of these products in the future.

Product Insights

Polymers, comprising microcrystalline cellulose and pregelatinized starch, emerged as the leading product category in terms of both revenue and volume. It accounted for over 44% of the total revenue in 2021 and almost 40% of the overall volume used in pharmaceutical formulations. Rising usage in various dosage forms such as suspensions, capsules, and tablets is anticipated to be a key driving factor for this segment in the forecast years.

Polymers can have multiple functions in drug development, which is attributed to their high usage in pharmaceutical R&D. They offer strength and improved shelf life when compared to other types of excipients used in pharmaceutical preparations. Polymers offer ideal formulation features for controlled/sustained release and help deliver drugs to specific target sites.

Sugars have emerged as the second-largest product segment, accounting for around 30% of the overall revenue in 2021. This can be attributed to their spherical shape and porous nature, which provides flowability and low friability, thereby making sugar a preferred choice in a wide range of pharmaceutical applications. Sugar is also used as a drug delivery agent through the pulmonary route and applications such as these are anticipated to fuel segment growth.

Regional Insights

Europe is closely followed by North America and Asia Pacific owing to the presence of larger companies, such as Avantor Performance Materials Inc. and FMC Corporation, that are direct manufacturers of the products. The regions are expected to witness significant growth owing to ongoing case studies on drug-excipient interactions to enhance delivery efficiency and efficacy.

Asia Pacific and Middle East and Africa are expected to grow at a faster rate owing to an expanding generic market and high volume of unmet medical need in the regions. These regions also enable low-cost manufacturing processes and are a good source of raw material for manufacturing excipients.

Key Companies and Market Share Insights

The global excipients market is highly competitive and fragmented, with many international companies competing for a large share of the global revenue. Development of multifunctional and novel excipients is expected to be a key parameter for competition in this market, with mergers and acquisitions as an additional attempt to expand product offerings and gain revenue share. Some of the prominent players in the global excipients market include:

• Eastman Chemical Corporation

• P&G Chemicals

• Avantor Performance Materials, LLC

• Huntsman Corporation

• BASF SE

• Ashland Inc.

• FMC Corporation

• Roquette

• Colorcon Inc.

• Lubrizol Corporation

• Valeant

• JRS Pharma

• Shin-Etsu Chemical Co., Ltd.

• DFE Pharma

• Finar Limited

Excipients Market Report Scope

Segments Covered in the Report 

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2022 to 2030. For this study, Grand View Research has segmented the global excipients market report based on product and region:

• Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Polymers

    • MCC

    • HPMC

    • Ethyl Cellulose

    • Methyl Cellulose

    • CMC

    • Croscarmellose Sodium

    • Povidone

    • Pregelatinized starch

    • Sodium starch glycolate

    • Polyethylene Glycol

    • Acrylic Polymers

  • Alcohols

    • Glycerin

    • Propylene Glycol

    • Sorbitol

    • Mannitol

    • Others

  • Sugars

    • Lactose

    • Sucrose

    • Others

  • Minerals

    • Calcium Phosphate

    • Calcium Carbonate

    • Clay

    • Silicon Dioxide

    • Titanium Dioxide

    • Others

  • Gelatin

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

  • Asia Pacific

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa

    • South Africa