Excipients Market Size is Estimated to Witness 6.0% CAGR till 2030

[sara James]

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