The global pharmaceutical excipient market size accounted for USD 978 million in 2024 and is expected to exceed around USD 1,624 million by 2034, growing at a CAGR of 5.2% from 2024 to 2034.
The pharmaceuticals excipients market refers to the production, distribution, and use of these excipients, which are substances other than active pharmaceutical ingredients (API) that have been appropriately evaluated for safety and are intentionally included in a drug delivery system. It is an inactive substance added to medications along with API. These excipients are frequently used as coloring agents, coating, flavoring, binders, diluents, and lubricants for the formulation. It is also used to improve dosage form size or volume, binding of particulates, modifying drug release, or disintegration of solid dosage forms. There is a high demand for these excipients in advanced delivery systems and parenteral, oral, and topical applications, which drives the growth of the pharmaceuticals excipients market.
However, the challenging factors of the market include stringent regulatory requirements, strict guidelines for testing, manufacturing, and use of excipients, and a lack of skilled professionals that can be barriers to the growth of the market. The future scope of the market includes sustainability initiatives, an increase in regenerative medicine, advancement in formulation technology, and the development of biopharmaceuticals, which will help the pharmaceuticals excipients market grow.
Published by Laxmi Narayan
For any questions about this dataset or to discuss customization options, please write to us at sales@statifacts.com
| Stats ID: | 7564 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Stats ID: | 7564 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
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