Excipients play a significant role in drug formulation processes. They carry out an extensive range of functions to offer desired properties for the finished drug formulation. Also, they offer more effective and safer finished products for patients. Currently, there are more than 1,200 pharmaceutical excipients available in the market with various functionalities such as fillers and diluents, binders, coating agents, disintegrants, flavors, colorants, lubricants and glidants, solvents, preservatives, sweeteners, and antiadherents. In addition, there are functional excipients that modulate drug release from dosage forms. For the past few years, the pharmaceutical excipients market has witnessed a stable growth rate.