The pharmaceutical excipients market is projected to reach USD 9.7 billion by 2025 from USD 6.9 billion in 2019, at a CAGR of 5.8%. Factors such as the growing pharmaceuticals industry coupled with advancements in functional excipients, rising adoption of orphan drugs, and increasing uptake of biopharmaceuticals, are driving the market for pharmaceutical excipients. The emergence of multifunctional excipients, shifting the focus of pharmaceutical manufacturing to emerging markets, and the growing Biosimilars industry also present significant growth opportunities for market players in the pharmaceutical excipients market.
“The organic chemicals segment is to dominate the pharmaceutical excipients market in 2019.”
On the basis of product, the pharmaceutical excipients market is segmented into three major categories— organic chemicals, inorganic chemicals, and other chemicals. In 2018, the organic chemicals segment accounted for the largest share of the pharmaceutical excipients market. The large share of this segment can be attributed to the use of these chemicals in the majority of pharmaceutical formulations available in the pharmaceutical market.
“By functionality, the fillers and diluents segment is expected to account for the largest share of the pharmaceutical excipients market in 2019.”
On the basis of functionality, pharmaceutical excipients are categorized into fillers & diluents, binders, suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifying agents, and other functionalities. The fillers & diluents segment accounted for the largest share of the pharmaceutical excipients market in 2018. The large share of this segment is attributed to the increased use of fillers and diluents in the development and production of solid oral drugs and the advantages they offer to manufacturers and patients.
“By formulation, the oral formulations segment is estimated to account for the largest share of this market in 2019; however, the topical formulations segment is estimated to be the fastest growing segment.”
Based on formulation, the pharmaceutical excipients market is segmented into oral, topical, parenteral, and other formulations. In 2018, oral formulations accounted for a major share of the pharmaceutical excipients market, mainly because oral formulations are the most common route of drug delivery.
The market for topical formulations is expected to witness the highest growth during the forecast period. Growth in this segment is majorly due to better assimilation of topical excipients with liquid APIs and increased patient compliance due to sensorial effects.
Europe is expected to hold the largest share of this market in 2019.
The dominant share of this region can be attributed to the presence of a number of pharmaceutical giants with large production capacities leading to high consumption of excipients. The growing emphasis on superior pharmaceutical products, generics, and biosimilars has also led to the increase in the demand for novel excipients, which, in turn, is expected to drive the market growth in this region in the coming years.
Key Market Players
DuPont de Nemours, Inc. (US) and Roquette Feres (France) dominated the global pharmaceutical excipients market in 2018. The prominent players in the global pharmaceutical excipients market are Ashland Global Holdings, Inc. (US), BASF SE (Germany), Evonik Industries AG (Germany), Associated British Foods plc (UK), Archer Daniels Midland Company (US), Lubrizol Corporation(US), and Croda International (UK). Other players in this market are Innophos Holdings (US), Kerry Group plc (Ireland), WACKER Chemie AG (Germany), Colorcon, Inc. (US), DFE Pharma (Germany), JRS Pharma (Germany), and Air Liquide (France).
Roquette (France) is a major player in the market. The company has an extensive product line and has a dominant position, especially in the carbohydrate excipients segment. In this regard, In January 2018, Roquette launched a new carbohydrate excipient product from its facility in India. The company also launched three new excipient brands in March 2017. Roquette (France) has a commercial presence in over 100 countries across North America, Europe, and Asia. It has 30 global establishments, including 20 production sites located across Germany, China, Korea, Spain, the US, France, India, Italy, Romania, and the UK. 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.
Recent Developments
In April 2019, Colorcon, Inc. (US) signed an agreement with DuPont Nutrition and Biosciences (US) in order to enhance the current product portfolio of CR Alliance products.In February 2019, Associated British Foods plc (UK) signed an agreement with Indchem International (India) under which, Indchem will distribute Associated British Food’s functional lipid excipient product line in the Indian market.In January 2019, Croda International (UK) acquired Brenntag Biosector (Denmark) for its vaccine adjuvants portfolio which would be complementary to Croda’s pharmaceutical excipients portfolio.In December 2018, Roquette Feres (France) signed an agreement with Thermo Fisher Scientific (US), which gives Thermo Fisher the right to distribute the product portfolio of Roquette in the US and Canada.
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