The global excipients market is projected to reach $13.05B by 2030, at a CAGR of 4.03%, according to a report by Research & Markets.
This upward trend finds its impetus in the expanding footprint of generic medicines on a global scale, a pivotal factor propelling the market's expansion, the report says. Concurrently, the surging demand for novel excipients, fueled by the promise of enhanced drug delivery mechanisms and bolstered stability, further fuels the market's ascent.
Excipients are being used to fine-tune drug delivery mechanisms–including both sustained and rapid-release medications. Polymers were the largest product category in 2021 based on revenue and volume and are expected to maintain a comparatively moderate growth rate over the forecast period. Microcrystalline cellulose was the leading polymer in this category, accounting for a share of over 26.0% in 2021.
Sugars are expected to observe the fastest growth over the coming years, exhibiting an estimated CAGR of 6.9% from 2022 to 2030. Sugars can play an instrumental role in increasing solubility, taste masking, dissolution, and drug delivery, which can drive its market.