The size of the Pharmaceutical Excipients Market in Europe was worth USD 2.27 billion in 2023 and is estimated to be growing at a CAGR of 5.92% to reach USD 3.03 billion by 2028. An excipient is a natural or synthetic constituent formulated alongside the active ingredient, included to induce and catalyze a wide range of physical and chemical properties. Pharmaceutical Excipients are substances that are involved in manufacturing processes and facilitate the use of medicines. Pharmaceutical Excipients include Gelatin, Cellulose, PVP, Starch, Sucrose, Polyethylene Glycol, etc.
Increasing incidences of chronic diseases due to a sedentary lifestyle, hefty investments by the pharmaceutical companies in the development of medicines, and implementing new novelties like nanotechnology are the market's major driving forces. However, decreasing the side effects of drugs and developing environmentally friendly manufacturing processes are the significant challenges faced by the pharmaceutical industry.
Proper expansion strategies and launching a new product pipeline would be lucrative for companies operating in this industry. Still, the market's growth is stalled to a certain level because investments in R & D by major companies are not up to the required. In addition, increasing standard regulatory requirements make it increasingly hard to approve new manufacturing facilities, which are definite threats to overcome.
This research report on the European Pharmaceutical Excipients market has been segmented and sub-segmented into the following categories:
By Formulation Type:
Regionally, the European market is in congruence with North America and occupies most of the share in the global market, accounting for almost 1/3 of the market share. Despite that, growth is hindered here due to the maturity of the market. Emerging players in this market give stiff competition to the top 10 players who occupy more than 2/3 of the total market. It can be attributed to the rapid growth of the market and its opportunities in developing countries. Being highly populated among European countries, the Russian Pharmaceutical Excipient market is predicted to hold the most significant share in the European market during the forecast period. Technological advancements are also helping to discover new entities for medications. Switzerland also has the oldest markets for pharmaceuticals and materials used for it. For Instance, IMPAG, independent international trading and service group based in Switzerland, has subsidiaries in Germany, Poland, France, Austria, provides raw materials, Excipients, and Additives for more than 90 Years.
KEY MARKET PLAYERS:
A few of the promising companies operating in the European pharmaceutical excipients market profiled in this report are Ashland Inc., AkzoNobel, Archer Daniels Midland Company, Associated British Foods PLC, BASF SE, Colorcon, Inc., Croda International PLC, Evonik Industries AG, FMC Corporation, Innophos Holdings Inc., J.M. Huber Corporation, Merck Millipore, Roquette Group, The DOW Chemical Company, and Lubrizol Corporation.
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