Pharmaceutical Excipients Market Size Forecasted to Surpass USD 15.43 Billion by 2034 Amid Rising Demand for Novel Drug Delivery Systems
The global pharmaceutical excipients market size is on track to exceed USD 15.43 billion by 2034, rising from USD 9.31 billion in 2025 at a CAGR of 5.75%, according to a new report by Precedence Research.
Ottawa, Aug. 05, 2025 (GLOBE NEWSWIRE) --
The worldwide pharmaceutical excipients market size was valued at USD 8.82 billion in 2024, and it is expected to attain USD 15.43 billion by 2034. The growing pharmaceutical industry and increasing demand for biologic and generic drugs drive the market growth.
The market is undergoing a significant transformation, driven by the rise of biologics, demand for personalized medicine, and innovations in drug delivery systems. With the market expected to grow at a CAGR of 5.75% from 2025 to 2034, companies across the value chain are eyeing excipients as a critical component for competitive advantage.
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Pharmaceutical Excipients Market Key Takeaways
- The pharmaceutical excipients market size reached USD 8.82 billion in 2024.
- It is expected to exceed USD 15.43 billion by 2034.
- The market is growing at a CAGR of 5.75% between 2025 and 2034.
- The North American market size was calculated at USD 3.15 billion in 2024.
- North America accounted for the largest market share of 38.32% in 2024.
- By excipient type, the lactose-based excipients contributed the biggest market share of 41.26% in 2024.
- By functionality, the fillers and diluents segment generated the major market share in 2024.
- By functionality, the coating agents segment is expected to grow at a significant CAGR from 2025 to 2034.
- By excipient type, the lactose-based segment captured the highest market share 2024.
- By excipient type, the cellulose-based segment is projected to grow at a notable CAGR from 2025 to 2034.
Pharmaceutical Excipients Market Overview
What are Pharmaceutical Excipients?
Pharmaceutical excipients are inactive substances formulated for drug production. They are used alongside active pharmaceutical ingredients. Pharmaceutical excipients prevent degradation and enhance the absorption of the drug. They are widely used in the production of capsules, tablets, and other drugs. They enhance the appearance, taste, texture, and compressibility of medications. Pharmaceutical excipients offer bulk to medication formulations and improve safety, efficacy, & stability of drugs. They are widely used in formulations of tablets, liquid dosage forms, capsules, creams, and ointments.
“As pharmaceutical companies strive for innovation in formulations and cost-effective manufacturing, multifunctional excipients are emerging as game-changers,” said Deepa Pandey, Principal Consultant at Precedence Research.
Top Pharmaceutical Excipients
| Name | Role | Examples |
| Diluents | Provides Bulk to Formulation |
|
| Binders | Hold Powdered Ingredients Together |
|
| Disintegrants | Break Up Tablets into Smaller Parts in Liquid Form |
|
| Lubricants | Avoid Sticking of Ingredients to Equipment |
|
| Glidants | Enhance Powder Mixture Flow |
|
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Pharmaceutical Excipients Market Opportunity
What is the Opportunity for the Pharmaceutical Excipients Market?
The Growing Demand for Multifunctional Excipients
The increasing demand for multifunctional excipients in the pharmaceutical industry for the production of pharmaceutical products creates an opportunity for the market. The growing focus on enhancing drug performance and simplifying drug formulation processes increases demand for multifunctional excipients. The increasing focus on reducing manufacturing costs and improving compliance fuels demand for multifunctional excipients.
The focus on the development of sustained-release formulations and fast-dissolving tablets increases the need for multifunctional excipients. The increasing focus on personalised medicines and rapid growth in the biopharmaceutical industry increases demand for multifunctional excipients.
The expansion of the healthcare industry and the growing demand for various medications are fueling demand for multifunctional excipients. The growing demand for stabilizing, binding, and disintegrating in one form fuels demand for multifunctional excipients. The growing demand for multifunctional excipients unlocks an opportunity for the growth of the pharmaceutical excipients market.
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For instance, the development of orally disintegrating tablets has driven demand for excipients that combine binding, taste-masking, and rapid disintegration in a single material.
Limitations and Challenges in the Pharmaceutical Excipients Market
Why is Pharmaceutical Excipients Development Cost High?
Despite several applications of pharmaceutical excipients, the high development cost restricts the market growth. Factors like complex manufacturing processes, stringent regulatory environments, production scaling up, and extensive testing increase the development cost. The need for extensive research & development for the development of drugs increases the cost. The extensive processes like regulatory approval, research time, and testing increase the development cost. Complex manufacturing processes and the need for specialized equipment lead to higher development costs.
The need for higher investment in large-scale manufacturing and lengthy development, and complex testing directly impacts the market. The regulatory approvals, like extensive evaluations and approval from regulatory bodies, increase the cost. The high development cost hampers the growth of the pharmaceutical excipients market.
The timing has never been more critical. With global emphasis on rapid drug development, personalized medicine, and biologic therapies, pharmaceutical excipients are no longer passive ingredients but active enablers of innovation, efficacy, and compliance.
Scope of Pharmaceutical Excipients Market
| Report Attributes | Statistics | |
| Market Size in 2024 | USD 8.82 Billion | |
| Market Size in 2025 | USD 9.31 Billion | |
| Market Size by 2034 | USD 15.43 Billion | |
| CAGR 2025 to 2034 | 5.75% | |
| Leading Region in 2024 | North America (accounted for 38.32% of market share) | |
| Fastest Growing Region | Europe | |
| Base Year | 2024 | |
| Forecast Period | 2025 to 2034 | |
| Segments Covered | Functionality, Excipient Type, and Regions | |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa | |
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Case Study: Multifunctional Excipients Streamline Tablet Production for Generic Drug Manufacturer
In 2024, a leading Indian generic pharmaceutical company adopted a multifunctional excipient combining binding, disintegration, and flow-enhancing properties in a reformulated version of its high-volume antihypertensive tablet.
Key Outcomes:
- Reduced formulation steps by 30%, minimizing the use of multiple individual excipients.
- Cut production costs by 18% through improved compression and faster manufacturing cycles.
- Achieved 25% faster dissolution rate, improving patient compliance and therapeutic onset.
- Streamlined regulatory submission, thanks to excipient's prior GRAS (Generally Recognized As Safe) status and established supplier documentation.
This case demonstrates the cost and performance benefits driving global demand for multifunctional excipients, particularly among high-volume, cost-sensitive drug manufacturers.
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Pharmaceutical Excipients Market Key Regional Insights
How Did North America Dominate Pharmaceutical Excipients Market in 2024?
North America dominated the pharmaceutical excipients market in 2024, owing to the strong presence of a well-developed and advanced pharmaceutical industry in the region increases the demand for pharmaceutical excipients for the production of drugs. The extensive investment in research & development of pharmaceuticals helps in the market growth.
The growing demand for generic drugs increases demand for pharmaceutical excipients. The increasing development of advanced drug formulations and drug delivery systems increases demand for pharmaceutical excipients. The stringent regulations for the development of excipients help the market growth. The increasing demand for personalised medicines and focus on biologics drive the market growth.
U.S. Pharmaceutical Excipients Market Size and Forecast 2025 to 2034
How big is the U.S. Pharmaceutical Excipients Market?
According to Precedence Research, the U.S. pharmaceutical excipients market size reached USD 2.90 billion in 2024 and is expected to grow from USD 3.08 billion in 2025 to USD 5.32 billion by 2034, registering a CAGR of 6.26% from 2025 to 2034.
Key Market Drivers and Insights
Strong generics penetration in the U.S. elevates demand for excipients, especially in oral dosage forms like tablets and capsules.
Advanced formulations, including controlled-release and biopharma delivery systems, are boosting growth in high-performance excipients and coating agents.
Regulatory clarity and infrastructure investment maintain the region’s dominance, with substantial R&D in U.S.-based excipient solutions.
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How is Asia Pacific the Fastest Growing in the Pharmaceutical Excipients Market?
Asia Pacific is experiencing the fastest growth in the market during the forecast period, owing to the growing healthcare spending and rising demand for various pharmaceutical products that increase the demand for pharmaceutical excipients. The increasing expansion of generic drugs helps the market growth. The focus on personalised medicines and advancement in drug delivery systems fuels demand for pharmaceutical excipients.
The strong government support for the pharmaceutical industry and growing investment in R&D help the market growth. The rise in biosimilars & biologics and the expansion of nutraceuticals support the market growth.
Top Three Asian Exporters of Pharmaceutical Excipients:
| Countries | Export | Leading Suppliers |
| Japan | 356 Shipments | SHIN ETSU CHEMICAL CO, LTD |
| China | 200 Shipments | WELLSTARS INTERNATIONAL CO, LTD |
| India | 106 Shipments | Amtec Health Care Pvt Ltd |
(Source: https://www.volza.com/p/pharmaceutical-excipients/export/)
Pharmaceutical Excipients Market Segmentation Analysis:
Functionality Analysis
Why did Fillers and Diluents Segment Dominate the Pharmaceutical Excipients Market?
The fillers and diluents segment dominated the pharmaceutical excipients market in 2024. The easy availability of different forms and grades of fillers and diluents helps the market growth. The need for achieving the desired weight & size of capsules & tablets increases demand for fillers & diluents. They contribute to tablet content uniformity and improve the flow properties of tablet formulations. Fillers & diluents enhance production efficiency, tablet compression, and flow properties. The growing demand for different starches, lactose, and microcrystalline fillers & diluents drives the market growth.
The coating agent segment is significantly growing in the market during the forecast period. The growing focus on improving patient experience increases demand for coatings to cover up the unpleasant odor and taste of medications. The increasing demand for protecting active ingredients in pharmaceutical production fuels demand for coating agents. The growing prevalence of chronic diseases increases demand for coated medications. Coating agents enhance drug delivery and control drug release in the body. The rising adoption of oral solid medications like capsules & tablets supports the market growth.
Excipient Type Analysis
How Lactose-Based Segment Held the Largest Share of the Pharmaceutical Excipients Market?
The lactose-based segment held the largest revenue share of the pharmaceutical excipients market in 2024 due to growing demand for binder, flow agent, filler, and diluent in various pharmaceutical applications that increases demand for lactose-based excipients. They are available in various forms like spray-dried, anhydrous, & monohydrate and are compatible with various APIs. Lactose-based excipients have good flowability, low hygroscopicity, excellent compressibility, and good solubility. They are easily available and cost-effective for pharmaceutical production. The increasing demand across applications like lyophilization, solid dosage forms, and inhalation products drives the market growth.
The cellulose-based segment is significantly growing in the market during the forecast period. The growing demand for cellulose-based excipients across various pharmaceutical applications like controlled-release formulations, tablet binding, and disintegration helps the market growth. The increasing demand for generic drugs fuels demand for cellulose-based excipients. They are derived from a plant source and improve the bioavailability of less soluble drugs. The growing development of patient-friendly drug delivery systems and orally dissolving tablets supports the market growth.
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Pharmaceutical Excipients Market Top Companies
The pharmaceutical excipients market is dominated by key players who collectively command the largest market share and significantly influence industry trends.
- Ashland Global Holdings
- BASF SE
- DuPont
- Roquette Feres
- Evonik Industries AG
- Associated British Foods
- Archer Daniels Midland Company
- Lubrizol Corporation
- Croda International
- Kerry Group
Recent Developments
- In November 2024, Clariant launched new high-performing excipients for effective medicines. The excipients are available for various applications like parenteral formulations and sensitive active pharmaceutical industries. The range offers high-quality, tailored, reliable, and cost-effective solutions for the healthcare sector in India. (Source: https://www.clariant.com)
- In January 2025, GELITA launched Endotoxin Controlled Excipients for pharmaceutical and bioscience applications. The product range includes MEDELLAPRO and VACCIPRO, that used in applications like 3D bioprinting, vaccine stabilisation, and medical devices. The excipients ensure patient safety and well-being. (Source: https://pharmaceuticalmanufacturer.media)
- In December 2023, Roquette launched three new excipient grades, MICROCEL 113 SD, LYCATAB CT-LM, and MICROCEL 103 SD. The new excipients support the development of drugs and focus on improving the experience of producers & patients. (Source: https://www.contractpharma.com)
- In May 2025, Pharcos Specialty Ltd launched India’s first homegrown hydroxypropyl methylcellulose excipients for the pharmaceutical industry. The excipients are used in the coating of tablets & pellets, stabilization of suspensions, thickening agent in pharmaceutical formulations, controlled-release matrix system, wet granulation & binder system, manufacturing vegetarian tablets, and frozen food & food dietary. (Source: https://www.pharmabiz.com)
Pharmaceutical Excipients Market Segments Covered in the Report
By Functionality
- Fillers and Diluents
- Suspending and Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Colorants
- Lubricants and Glidants
- Preservatives
- Emulsifying Agents
- Flavoring Agents and Sweeteners
- Other Functionalities
By Excipient Type
- Lactose-based Excipients
- α-lactose monohydrate
- Anhydrous α-lactose
- Anhydrous β-lactose
- Amorphous Lactose
- Cellulose-based
- Microcrystalline Cellulose (MCC)
- Cellulose Ethers
- Others
- Starches
- Carboxymethylcellulose Sodium (CCS)
- Sodium Starch Glycolate (SSG)
- Fine Chemicals
- Mannitol
- Biopharma Excipients
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Kuwait
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