Pharmaceutical Excipients Market Trends and Player Strategies

Pharmaceutical Excipients Global Market Report 2023 By The Business Research Company Describes And Explains The Pharmaceutical Excipients Market And Covers 2017-2022, Termed The Historic Period, And 2022-2027 Termed The Forecast Period, Along With Further Forecasts For The Period 2027-2032. The Report Cover Market Sizing Information, Market Trends, Strategies, And Opportunities For The Seven Regions And Major Players Of The Market

LONDON, March 13, 2023 /PRNewswire/ -- According to The Business Research Company's Pharmaceutical Excipients Global Market Report 2023, the global pharmaceutical excipients market size will grow from $8.6 billion in 2022 to $9.1 billion in 2023 at a compound annual growth rate (CAGR) of more than 5%. The pharmaceutical excipients market value is further expected to grow to $11.5 billion in 2027 at a CAGR of more than 6%. The global pharmaceutical excipients market is supported by the surge in the sale of generic drugs and an increasing development of novel drugs.

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The pharmaceutical excipients market is fairly fragmented, with a large number of players. BASF SE was the largest competitor with 8.2% share of the pharmaceutical excipients market, followed by Ashland Global Holdings, Evonik Industries AG, International Flavors & Fragrances, Inc., Roquette Frères, Archer Daniels Midland Company, Lubrizol Corporation, Croda International Plc, Kerry Group, and DuPont de Nemours, Inc.

In December 2022, BASF Pharma Solutions, a UK based pharmaceutical company, announced that the US Food and Drug Administration (FDA) Center for Drug Evaluation and Research (CDER), Office of New Drugs, has accepted its excipient, Soluplus®, into the FDA's Pilot Program for the Review of Innovation and Modernization of Excipients (PRIME). The program seeks to reduce the risk and burden for pharmaceutical companies wishing to utilize novel excipients for modern drug development challenges as well as to provide a pathway for excipient manufacturers like BASF to obtain FDA review of their novel excipients prior to use in an FDA-approved drug.

Another example of pharmaceutical excipients market companies attempting to strengthen their business capabilities through receiving regulatory approvals can be seen in the strategy of Ashland Global Holdings Inc. In October 2022, Ashland announced that the U.S. Food and Drug Administration (FDA) Center for Drug Evaluation and Research Office of New Drugs accepted Viatel, the company's bioresorbable mPEG-PDLLA pharmaceutical excipient for the review cycle of the FDA Novel Excipient Review Pilot Program. Through this program, Ashland aims at providing transformative and life-changing benefits for the consumers.

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The global pharmaceutical excipients market is segmented -

1. By Functionality: Fillers And Diluents, Suspending And Viscosity Agents, Coating Agents, Binders, Flavouring Agents And Sweeteners, Disintegrants, Colorants, Lubricants And Glidants, Other Functionalities
2. By Type Of Formulation: Oral Formulation, Topical Formulation, Parental Formulation
3. By Product: Inorganic Chemicals, Organic Chemicals

The pharmaceutical excipients market report is one of a series of new reports from The Business Research Company that provides pharmaceutical excipients market statistics, including pharmaceutical excipients market size, regional shares, competitors, detailed pharmaceutical excipients market segments, market trends and opportunities. This pharmaceutical excipients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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