The study involved 4 major activities in estimating the current market size for Global Pharmaceutical Excipients Market. Exhaustive secondary research was done to collect information on the market as well as its peer and parent markets.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
Objectives of the Study
# To define, describe, segment, and forecast the global pharmaceutical excipients market on the basis of product, functionality, formulation, and region
# To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and industry-specific challenges)
# To analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the overall pharmaceutical excipients market
# To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market players
# To forecast the size of the pharmaceutical excipients market, in five main regions (along with major countries)—North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
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# To profile key players in the global pharmaceutical excipients market and comprehensively analyze their core competencies and market shares
# To track and analyze competitive developments such as mergers and acquisitions; new product/technology launches; expansions; collaborations and agreements; and R&D activities of the leading players in the global pharmaceutical excipients market
The pharmaceutical excipients market is projected to reach USD 9.7 billion by 2025 from USD 6.9 billion in 2019, at a CAGR of 5.8%.
Factors such as the growing pharmaceuticals industry coupled with advancements in functional excipients, rising adoption of orphan drugs, and increasing uptake of biopharmaceuticals, are driving the market for pharmaceutical excipients. The emergence of multifunctional excipients, shifting the focus of pharmaceutical manufacturing to emerging markets, and the growing Biosimilars industry also present significant growth opportunities for market players in the pharmaceutical excipients market.
The Asia Pacific is expected to be the fastest growing the market in 2019
In 2018, the Asia Pacific region was seen as the fastest growing region in the pharmaceutical excipients market. The ease of doing business in the Asia Pacific region in terms of reduced regulatory stringency, reduced raw material & labor costs, and a higher target market make this region the fastest growing market in 2019.
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The key players in the global pharmaceutical excipients market are Ashland (US), BASF (Germany), DuPont (US), Roquette (France), Evonik Industries (Germany), Associated British Foods (UK), Archer Daniels Midland Company (US), Lubrizol (US), and Croda International (UK).