Pharmaceutical Excipients Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The global pharmaceutical excipients market size is estimated to register a robust CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising drug development & innovation by pharmaceutical companies.
Pharmaceutical excipient can be defined as pharmacologically inactive component in the drug delivery system. It is formulated by using the active pharmaceutical ingredient of a medication. Excipients are inactive components in the formulations of the drug. Moreover, they’re are used to inhibit contamination. Pharmaceutical excipients are included in the manufacturing process of drugs. These excipients reduce viscosity of drug and stabilize it for longer period of time. They are used to enhance the properties, such as bulkiness of the pharmaceutical formulation. It also promotes the drug absorption quality of the pharmaceutical product. Pharmaceutical excipients help in safe chemical breakdown in the body, and they also increase the fluidity of blood circulation and boost the drug's functionality.
Market Trends, Drivers, Restraints, and Opportunities
Increasing demand for functional excipients is one of the major factors driving the pharmaceutical excipients market growth. Rapid advancements in nanotechnology are anticipated to drive the market growth during the forecast period. Rising investment in the healthcare sector is projected to push the market growth during the forecast period.