The Global Pharmaceutical Excipients Market Growth Accelerated By Increased Demand For Modified Release Formulations

 


The pharmaceutical excipients are chemicals formulated to serve pharmaceutical aid purposes alongside the active pharmaceutical ingredients in drug compositions and formulations. Pharmaceutical excipients are used to aid product formulation, processing, stability and bioavailability. They improve functionality and end-user experience. Pharmaceutical excipients help in enhancing drug solubility, coating, binding and modifying drug release profiles among others.

The Global Pharmaceutical Excipients Market Size is estimated to be valued at US$ 12.33 Bn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Modified release formulations such as extended and delayed release have gained popularity as they allow modifying drug release profiles to achieve better pharmacokinetic and pharmacodynamic drug profiles. Modified release formulations require specialized excipients that can help in modifying drug release as per requirement. Increased demand for modified release dosage forms from pharmaceutical companies has accelerated demand for specialized excipients that help in developing such formulations. This has emerged as a key trend in the pharmaceutical excipients market driving increased research and development of novel excipients suitable for modified release drug delivery.


Segment Analysis
The global pharmaceutical excipients market is dominated by the oral solid dosage forms segment. Over 50% of all pharmaceutical formulations are oral tablets and capsules, making it the largest sub-segment. The oral route is convenient and cost-effective for various drugs. Further, oral solid dosage forms provide stability, accuracy of dosage, and easy production which drives their adoption rate over other formulations.

Key Takeaways
The global pharmaceutical excipients market is expected to witness high growth over the forecast period of 2024 to 2031. Currently valued at US$ 12.33 billion in 2024, the market is projected to reach over US$ 22 billion by 2031, registering a CAGR of 6.9%.

Regional analysis
North America dominated the global market in 2024 and is expected to maintain its leading position over the forecast years. The large presence of pharmaceutical companies and medical research in the region supports market growth. However, Asia Pacific is anticipated to be the fastest-growing regional market owing to rising generic drug manufacturing and increasing investments in pharmaceutical production in countries like India and China.

Key players
Key players operating in the pharmaceutical excipients market are Waters Corporation, Agilent Technologies Inc., Bruker Corporation, SCIEX, Shimadzu Corporation, Danaher, Thermo Fisher Scientific Inc., Shimadzu, and PerkinElmer Inc. Major players are focused on expanding their production capacities and capabilities through acquisitions and partnerships to strengthen their market position globally.

Get More Insights Here: https://www.newswirestats.com/pharmaceutical-excipients-market-trends-growth-and-regional-outlook-2023-2030/

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