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Pharmaceutical Excipients Market Trends

Report ID: GMI8780
Published Date: Apr 2024
Report Format: PDF

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Pharmaceutical Excipients Market Trends

The expiration of drug patents can lead to increased demand for excipients. As drug patents expire, generic drug manufacturers enter the market and use different excipients to produce bioequivalent products. This can increase the utilization of excipients.
Also, with the expiration of patents, pharmaceutical companies may reformulate their products to extend their market exclusivity or improve efficacy. Reformulation often involves testing various excipients to optimize drug delivery, stability, or other properties, thereby driving up demand for excipients.

Furthermore, patent expiration stimulates R&D efforts by both pharmaceutical and excipient manufacturers to innovate and develop new formulations or improve existing ones. This R&D activity can drive demand for excipients as companies seek novel solutions to remain competitive. Thus, aforementioned factors are anticipated to accelerate the market growth.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of pharmaceutical excipients reached USD 9.1 billion in 2023 and is set to cross USD 18 billion by 2032, led by the growing adoption of biopharmaceuticals and biologics.

Binders functionality segment 18.7% of the market share in 2023, driven by advancements in drug delivery technologies.

North America pharmaceutical excipients industry held a revenue share of 42.7% in 2023, driven by rapidly expanding pharmaceutical sector and rising demand for functional excipients.

Air Liquide S.A., Archer Daniels Midland Company, Ashland, Associated British Foods PLC, BASF SE, Croda International PLC, Evonik Industries AG, Innophos and Kerry Group plc among others.