The global pharmaceutical excipients market size is estimated to increase by $3.83B from 2022 to 2027. The market's growth momentum will progress at a CAGR of 6.54% during the forecast period, according to a report by Technavio. Increasing demand for functional excipients is the main driver.
Functional excipients are an integral part of the pharmaceutical industry. Demand for functional excipients is expected to grow rapidly during the forecast period due to their use in advanced drug delivery. Few companies focus on innovation in these additive categories using the latest technology while keeping standards. Several new formulations of certain generic drug ingredients are on the market. Advances in these drugs support controlled release and ease of consumption, especially in the form of orally dispersible tablets. In the future, nanotechnology and biotechnology may help change this field.
The market share growth by the organic segment will be significant for the market growth during the forecast period. Excipients of organic origin include oleochemicals, carbohydrates, petrochemicals, proteins, etc. The most commonly used oleochemical-based pharmaceutical excipients are fatty alcohols, mineral stearates, and glycerin. Carbohydrate-based excipients include sugars, true sugars (lactose, sucrose, dextrose, etc.), sugar alcohols (sorbitol, mannitol, etc.), artificial sweeteners, cellulose (microcrystalline cellulose, cellulose ethers, carboxymethyl cellulose ( CMC), croscarmellose sodium, cellulose esters), starches (modified starches, dried starches, modified starches, etc.), and petrochemicals (glycols, etc.). Hence, the widespread use of organic pharmaceutical excipients in the pharmaceutical industry is expected to drive the growth of this market over the forecast period.