NEW
YORK, June 24, 2024 /PRNewswire/ -- The
global pharmaceutical excipients market size is
estimated to grow by USD
4.50 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of
almost 7.17% during the forecast period.
Research report provides comprehensive data on impact of trend.
For more details- Download a Sample Report
Key Drivers:
- Rising Demand for Easy-to-Consume
Drugs: Pharmaceutical companies are increasingly
developing medications that are easier for elderly and young
patients to take. This spurs the need for novel excipients that
enhance drug delivery and patient compliance.
- Focus on Functional Excipients: Excipients that
improve drug bioavailability and stability are in high demand.
Binders, disintegrants, and coatings are some popular
examples.
- Growing Pharmaceutical Production: The expansion of
pharmaceutical manufacturing facilities to meet rising drug needs
is propelling the excipients market.
Market Challenges:
- Declining R&D Investments: Reduced research and
development spending can hamper the introduction of new excipients
and manufacturing facilities. Stringent regulations can further
slow down approvals.
- Stringent Regulations and Complexities: Selecting
the right excipients for drug formulations is crucial due to their
impact on stability, safety, and effectiveness. Rigid quality and
safety requirements necessitate rigorous testing and documentation,
adding complexity.
Market Segments:
- By Type: Organic excipients derived from natural sources
like carbohydrates and oleochemicals dominate the market.
- By Product: Binders and fillers hold the largest market
share, followed by coating agents and disintegrants.
- By Geography: North
America currently leads the market, but Asia Pacific is expected to witness
significant growth due to a rising patient population and focus on
generic drugs.
Future Outlook:
The pharmaceutical excipients market is poised for continued
growth. Collaboration between stakeholders, including
manufacturers, regulators, and researchers, will be instrumental in
addressing challenges and ensuring the development of safe and
effective drugs. Advancements in technologies like nanotechnology
and 3D printing hold promise for the future of excipients.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Product
-
- Binders And Fillers
- Coating Agents
- Disintegrants
- Others
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pharmaceutical-excipients-market-size-is-set-to-grow-by-usd-4-50-billion-from-2024-2028--increasing-demand-for-functional-excipients-to-boost-the-market-growth-technavio-302179814.html
SOURCE Technavio