According to the new market research report "Pharmaceutical Excipients Market by Product, the Pharmaceutical Excipients Market is projected to reach $11.5B by 2027 from $8.6B in 2022, at a CAGR of 5.9% during the forecast period of 2022 to 2027. The report is published by MarketsandMarkets™.
The pharmaceutical excipient market is expected to grow at a CAGR of 5.9% during the forecast period. Growth in the market can be attributed to factors such as the pharmaceutical sector expansion and increasing uptake of biopharmaceuticals. Furthermore, the growing adoption of orphan drugs is also expected to fuel the market growth.
The inorganic chemicals segment accounted for the second largest share of the product segment in the pharmaceutical excipients market in 2021.
Inorganic chemicals generally comprise elements of mineral origin. These chemicals are broadly segmented into calcium compounds, such as calcium phosphate, calcium carbonate, and calcium sulfate; metal oxides; halites; and other inorganic chemicals. The performance properties of these chemicals is expected to drive inorganic chemicals segment demand thus fueling the pharmaceutical excipients during the forecast period
The suspending & viscosity agents segment accounted for the second largest share of the functionality segment in the pharmaceutical excipients market in 2021.
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