Excipients considered the unsung heroes of drug formulation, play a vital role in ensuring the efficacy, stability, and delivery of active pharmaceutical ingredients (APIs). As the pharmaceutical industry expands, the demand for excipients is expected to rise in tandem.
According to BCC Research, the global pharmaceutical excipients market is poised for significant growth. Projections indicate an increase from $9.2 billion in 2023 to $12.4 billion by 2029, representing a compound annual growth rate (CAGR) of 5.1%.
A closer look at the market reveals that organic excipients will dominate by the end of 2029. This growth is attributed to the increasing preference for natural and biocompatible materials in drug formulation. North America holds the highest market share, driven by the region's advanced healthcare infrastructure and robust pharmaceutical industry. However, emerging markets in Asia-Pacific are expected to witness substantial growth, offering lucrative opportunities for industry stakeholders.