The global Excipients Market size is expected to reach USD 9.37 billion by 2030, expanding at a CAGR of 6.0% for the forecast period from 2022 to 2030, according to a new report by Grand View Research, Inc. Globally increasing reach of generic medicines has been a major factor driving market growth. In addition, rising demand for newer excipients owing to the advantages of drug delivery and stability has led to the growth of the market.
Excipients are essential components for the
improvement of overall pharmaceutical activity and performance, both of which
directly impact the characteristics of pharmaceutical formulations. An
excipient in the right proportion can improve the shelf life and
bioavailability of a formulation. These can also be used in drug delivery
mechanisms such as sustained release and rapid release drugs.
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.
The Market is significantly driven by the increasing
demand for pharmaceutical products due to the COVID-10 virus outbreak. The
development of the COVID-19 vaccine was one of the major drivers for this
market growth. Many key organizations capitalized on the opportunities that
arose during the pandemic and witnessed significant growth.
Related Press Release@ Excipients Market Report
Excipients Market Report
Highlights
- The global excipients demand exceeded 776,000 tons in 2021 and is
expected to grow at a moderate rate from 2022 to 2030
- Owing to high market demand, polymer excipients accounted for the
largest revenue share in 2021 and the segment can be anticipated to dominate
the market for the coming years as well
- The global demand for sugars excipients was valued at over USD 1.85
billion in 2021 and is anticipated to witness significant growth over the
coming years
- The Europe polymers market was pegged at 230,500 tons in 2021 and
is estimated to reach a total volume of over 328,000 tons by 2030
- The market in Asia Pacific is projected to witness substantial
growth over the course of the forecast period thanks to several
development projects undertaken across major economies, especially in
newer excipients markets. The regional market is expected to register a
CAGR of 6.6% from 2022 to 2030
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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