Northbrook, IL -- (SBWIRE) -- 03/02/2021 -- The pharmaceutical excipients market is projected to reach USD 9.7 billion by 2025 from USD 6.9 billion in 2019, at a CAGR of 5.8%.

The Factors such as the growing pharmaceuticals industry coupled with advancements in functional excipients, rising adoption of orphan drugs, and increasing uptake of biopharmaceuticals, are driving the market for pharmaceutical excipients. The emergence of multifunctional excipients, shifting the focus of pharmaceutical manufacturing to emerging markets, and the growing biosimilars industry also present significant growth opportunities for market players.

Recent Developments:

# In April 2019, Colorcon, Inc. (US) signed an agreement with DuPont Nutrition and Biosciences (US) in order to enhance the current product portfolio of CR Alliance products.

# In February 2019, Associated British Foods plc (UK) signed an agreement with Indchem International (India) under which, Indchem will distribute Associated British Food's functional lipid excipient product line in the Indian market.

# In January 2019, Croda International (UK) acquired Brenntag Biosector (Denmark) for its vaccine adjuvants portfolio which would be complementary to Croda's pharmaceutical excipients portfolio.

# In December 2018, Roquette Feres (France) signed an agreement with Thermo Fisher Scientific (US), which gives Thermo Fisher the right to distribute the product portfolio of Roquette in the US and Canada.

By functionality;

The fillers & diluents segment accounted for the largest share of the pharmaceutical excipients market in 2018. This market segment is expected to grow due to the increased use of fillers and diluents in the development and production of solid oral drugs. Oral formulations account for a majority share in the pharmaceutical industry, and as these formulations require fillers and diluents the most, this segment automatically has the majority share of the pharmaceutical excipients market.

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By formulation;

Based on formulation, the pharmaceutical excipients market is segmented into oral, topical, parenteral, and other formulations. In 2018, oral formulations accounted for a major share of the pharmaceutical excipients market, mainly because oral formulations are the most common route of drug delivery. Owing to the shrinking pipeline of new chemical entities (NCEs), companies are increasingly focusing on developing orally disintegrating tablets (ODTs) and other novel methods of oral drug delivery. There is also a growing trend towards sachet formulations.

The Asia Pacific region was seen as the fastest growing region in the pharmaceutical excipients market. The ease of doing business in the Asia Pacific region in terms of reduced regulatory stringency, reduced raw material & labor costs, and a higher target market make this region the fastest growing market in 2019.

Global Leaders:

The key players in the global pharmaceutical excipients market are Ashland (US), BASF (Germany), DuPont (US), Roquette (France), Evonik Industries (Germany), Associated British Foods (UK), Archer Daniels Midland Company (US), Lubrizol (US), and Croda International (UK).

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