Lucintel's latest market report analyzed that pharmaceutical excipient provides attractive opportunities in the oral formulation, tablet, capsule, liquid formulation, topical formulation, and parenteral formulation end use industries. The pharmaceutical excipient market is expected to reach $11.9 billion by 2028 with a CAGR of 5.9%. In this market, organic chemicals is the largest segment by product, whereas capsules is largest by end use industry.
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Based on product, the pharmaceutical excipient market is segmented into organic chemicals, oleochemicals, carbohydrates, petrochemicals, and other chemicals. The organic chemicals segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its increasing usage in pharmaceutical formulation application owing to its non-toxic nature.
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The Pharmaceutical Excipient Market is marked by the presence of several big and small players. Some of the prominent players offering pharmaceutical excipient include Ashland, BASF SE, International Flavors & Fragrances, Evonik Industries, and Roquette Freres.
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