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Global Pharmaceutical Excipients Market Size, Share, Trends, COVID-19 Impact, Growth Analysis Report - Segmented By Product, Functionality, Formulation Type and Region – Industry Forecast (2023 to 2028)

Published: March, 2023
ID: 325
Pages: 185
Formats: report pdf report excel report power bi report ppt

Pharmaceutical Excipients Market Size (2023 to 2028)

The global pharmaceutical excipients market size is estimated to be USD 7.62 billion in 2023. This value is further estimated to be growing at a CAGR of 6.1% and worth USD 10.25 billion by 2028.

Pharmaceutical Excipients Market Share Insights:

  • Based on the product, the organic chemicals segment is expected to lead the global pharmaceutical excipients market during the forecast period.
  • Based on functionality, the fillers & diluents segment is predicted to register the most significant share in the global during the forecast period.
  • North American pharmaceutical excipients market dominated the global market and is expected to reach USD 3.2 Billion by 2027
  • Asia Pacific pharmaceutical excipients market showcased the highest CAGR of 8.02% during the forecast period.

Excipients are inactive ingredients in the drug formulation, but they are essential to prevent contamination. In pharmaceuticals, excipients play a crucial role in stabilizing the drug for a long time and reducing viscosity. They help to have a safe chemical breakdown in the body. They increase fluidity in blood circulation and improve the drug's functionality, thanks to the active ingredients. Manufacturers mainly focus on implementing the formulation with products of biological origin, including excipients. It dramatically improves stability and also manages functionality. The excipients mainly provide the structure, properties, and application ratios used in prenatal drugs.


The emergence of innovative technologies and new pharmaceutical ingredients, increasing adoption of binders in pharmaceutical products, and advancements in functional excipients are majorly driving the global pharmaceutical excipients market growth.

Growing incidences of chronic diseases and other health disorders, increasing awareness of the formulations of medicines, and the rising number of research institutes to manufacture effective treatment procedures are other significant factors accelerating the growth of the global pharmaceutical excipients market.

Additionally, the rise in the economy is well-developed, and developing countries are propelling the market's demand extensively. Growth opportunities for the pharmaceutical excipients market lie in the government's growing investments in healthcare centers to improve the quality of diagnosis and treatment procedures. The emergence of the latest technologies and the approval of new drugs from the food and drug administration fuelled the growth of the global pharmaceutical excipients market.


Fluctuations in the availability of raw materials are slowly restraining the demand of the global pharmaceutical excipients market.

The high cost of equipment for installation and maintenance is degrading the growth of the market. Besides, the investments in R&D by major companies are not up to the required standard, and increasing regulatory requirements are making it increasingly hard to get new manufacturing facilities approved are the most significant challenges to the global pharmaceutical excipients market growth.

Impact of COVID-19 on the global pharmaceutical excipients market:

Covid-19 is an infectious disease which is caused by the recent novel coronavirus (SARS-COV-2). The World health organization announced COVID-19 as the emergence of the healthcare industry. The transmission of the virus is quick from person to person. The nationwide lockdown had been implemented to obstruct the spread. The global pandemic has affected all sectors of the economy. The covid-19 pandemic had a significant impact on the pharmaceutical industry. The sudden imposition of the lockdown disrupted the supply chain of raw materials from the manufacturing hubs in emerging countries such as India and China and further reduced manufacturing and drug development. Though it created an acceleration in the R&D activities to identify the vaccine combination for the virus, it severely impacted many of the global healthcare industry sectors. Also, it has shown a severe impact on the dependent companies that primarily rely on outsourcing. The unlock of lockdown in multiple countries was a relief, and many of the companies started their manufacturing and R&D efforts to get things back to normal. The pharma industry has gained momentum, particularly the demand for drugs has grown significantly. COVID-19's impact on the global pharmaceutical excipients market was negative in the first half of 2020. Analysts at Market Data Forecast have forecasted by 2022 end, the global pharmaceutical excipients market will get back to its growth path.




Market Size Available

2022 to 2028

Base Year


Forecast Period

2023 to 2028

Segments Covered

By Product Type, Functionality, Formulation Type, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa


In this research report, the global pharmaceutical excipients market has been segmented and sub-segmented based on product type, functionality, formulation type, and region.

Pharmaceutical Excipients Market - By Product:

  • Organic Chemicals
  • Oleochemicals
  • Carbohydrates
  • Petrochemicals
  • Proteins
  • Other Organic Chemicals
  • Inorganic Chemicals
  • Calcium Phosphates
  • Metal Oxides
  • Halites
  • Calcium Carbonates
  • Calcium Sulfates
  • Other Inorganic Chemicals

Based on the product, the organic chemicals segment is expected to lead the global market during the forecast period. Increasing demand for the manufacturing of drugs with natural resources with fewer or no side effects is fuelling the growth. The high growth for oral fixed-dose combinations of pharmaceutical products, and the use of HPMC organic chemicals in life-sciences industries are propelling the growth of this segment. High adoption of cellulose and starch derivatives solid oral dosage form and increasing development in generic products worldwide further enhance the market's growth.

Pharmaceutical Excipients Market - By Functionality:

  • Fillers & Diluents
  • Binders
  • Suspension & Viscosity Agents
  • Coatings
  • Disintegrants
  • Flavoring Agents
  • Lubricants & Glidants
  • Colorants
  • Preservatives
  • Other Functionalities

Based on functionality, the fillers & diluents segment is predicted to register the most significant share in the global during the forecast period. The growing prevalence of cost-effective treatment procedures is escalating the demand for this market. Diluents and fillers are used to increase and adjust the weight of the oral solid dosage form to minimize weight variation errors. The excipients having variants application such as better compressibility, dose accuracy, and maintaining flow properties of viscous material are factors growing demands of this segment in the pharmaceutical market. Mannitol is highly used in the production of chewable tablets, especially for children. Diluents are mostly used in wet granulation manufacturing methods of tablets and capsules.

Pharmaceutical Excipients Market - By Formulation Type:

  • Oral Formulations
  • Tablets
  • Capsules
  • Liquid Formulations
  • Topical Formulations
  • Parenteral Formulations
  • Advanced Delivery Systems

During the forecast period, the oral formulations segment is forecasted to lead the global pharmaceutical excipients market based on the formulation type, mainly due to oral formulations being the most common drug delivery route. The rising demand to expand the production rate of drugs in pharmaceutical industries is magnifying the need of the market. An introduction of a novel drug delivery system and sustained released capsule to provide digestive tract function drive oral tablets and capsule formulation market growth.

The market for topical formulations is expected to witness the highest growth during the forecast period. Growth in this segment is driven mainly due to better assimilation of topical excipients with liquid APIs and increased patient compliance due to sensorial effects.

Pharmaceutical Excipients Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Regionally, North America and Europe combine occupied 63 % of revenue in the global pharmaceutical excipients market in 2020. The North American region is holding the most significant shares of the global pharmaceutical excipients market due to the quick adoption of advanced technologies and high-quality innovation. Europe is following North America in dominating shares of the market with the rising geriatric population.

Asia Pacific witnessed the fastest growth rate in the past few years and hit the highest CAGR in the coming years. Increasing funds from private and public organizations and expanding the scale of hospitals are promoting the market growth. The market should have a significant share in the Asia-Pacific region. The adoption of nanotechnology mainly accelerates market growth in this region. Increased investment in the pharmaceutical industry may increase market demand. India and China are the major countries contributing to the highest shares of the market. Changes in lifestyles and the increasing incidence of chronic diseases impact the positive growth of the market in the Asia Pacific. Japan is to have a steady growth CAGR in the coming years with the growing number of geriatric populations.

The Middle East and Africa to have inclined growth rates during the forecast period.


A list of promising companies leading the global pharmaceutical excipients market profiled in this report is 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.

Emerging players in this market are giving stiff competition to the top 10 players, who occupy almost 70% of the total market. Due to the rapid growth of the market and the opportunities it possesses in developing countries.


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What was the size of the pharmaceutical excipients market worldwide in 2022?

The global pharmaceutical excipients market size was valued at USD 7.19 billion in 2022. 

Which region is growing the fastest in the global pharmaceutical excipients market?

Geographically, the North American pharmaceutical excipients market accounted for the largest share of the global market in 2022. 

At What CAGR, the global pharmaceutical excipients market is expected to grow from 2023 to 2028?

The global pharmaceutical excipients market is estimated to grow at a CAGR of 6.1% from 2023 to 2028. 

Which are the significant players operating in the pharmaceutical excipients market?

Evonik Industries AG, FMC Corporation, Innophos Holdings Inc., J.M. Huber Corporation, Merck Millipore, Roquette Group, and The DOW Chemical Company are some of the significant players in the pharmaceutical excipients market

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