Pharmaceutical Excipients Market Size

Pharmaceutical Excipients Market Size

Pharmaceutical Excipients Market size was valued at USD 9.1 billion in 2023 and is expected to grow at a CAGR of 8% between 2024 and 2032, driven by factors such as the growing adoption of biopharmaceuticals and biologics, including proteins, peptides, and nucleic acids. Also, the expanding pharmaceutical sector and rising pharmaceutical manufacturing activities contribute significantly to the growth of the market.

For instance, as per the European Federation of Pharmaceutical Industries and Associations report 2022, pharmaceutical production in the European region surged by 4.6% in 2021. This notable increase in production directly correlates with a rise in the volume of pharmaceutical manufacturing, thereby driving the demand for pharmaceutical excipients.
 

Pharmaceutical excipients are inactive substances or compounds that are combined with active pharmaceutical ingredients (APIs) in pharmaceutical formulations to improve accessibility, mask taste, increase stability, improve bioavailability, alter drug release kinetics, and ensure patient safety and compliance. These excipients are crucial to the formulation, production, and distribution of pharmaceutical products even though they do not directly produce therapeutic effects.