Pharmaceutical Excipients Market by Geography, Type, and Functionality — Forecast and Analysis 2020–2024

The pharmaceutical excipients market size has the potential to grow by USD 3.0 billion during 2020–2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by geography (North America, Europe, APAC, South America, and MEA), type (organic and inorganic), and functionality (binders and fillers, coating agents, disintegrants, and others). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Croda International Plc, DuPont de Nemours Inc., Evonik Industries AG, Kerry Group Plc, Lubrizol Corp., Merck KGaA, and Wacker Chemie AG.

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The pharmaceutical excipients market will register a CAGR of almost 7% by 2024. The rising demand for functional excipients is one of the major factors driving the market growth. The extensive use of advanced drug delivery is a major factor fueling the need for functional excipients. Adopting the latest technologies, companies are focusing on innovations in these excipient categories. The market is also witnessing the emergence of several new compositions of ingredients in certain generic drugs. The evolution of these drugs, specifically in the form of oral dispersible tablets, will aid market growth as they are easy to consume. Moreover, factors such as rapid advancements in nanotechnology and biotechnology are also expected to propel pharmaceutical excipients market growth during the forecast period.