Research Methodologies Followed:
Secondary Research
This research study involved the use of comprehensive secondary sources; directories and databases such as D&B, Bloomberg Business, and Factiva; and white papers, annual reports, and company house documents. Secondary research was used to identify and collect information for this extensive, technical, market-oriented, and commercial study of the global pharmaceutical excipients market.
It was also used to obtain important information about the top players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, technology perspectives, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.
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Primary Research:
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the pharmaceutical excipients market.
The primary sources from the demand side include industry experts such as experts from drugs manufacturing companies, nutraceutical companies, and contract manufacturing organizations.
Expected Revenue Growth:
The pharmaceutical excipients market is projected to reach USD 10.6 billion by 2026 from USD 7.9 billion in 2021, at a CAGR of 5.8% during the forecast period.
Major Growth Influencing Factors:
Growth in this market is majorly driven by the growing pharmaceutical industry coupled with the increasing R&D activities taking place in this field. Also, the growing generics market, rapidly growing biopharmaceuticals sector and the rising adoption of orphan drugs are supporting the growth of the market.
On the other hand, the increasing regulatory stringency regarding the approval of drugs and excipients is expected to restrain the growth of this market during the forecast period. The quality of pharmaceutical excipients throughout their life cycle plays a crucial role in patient safety. The effects of low-quality excipients, such as reduced API bioavailability, have further increased the importance of controlling various aspects of the excipient life cycle, including designing, manufacturing, and transportation.
The importance of excipient quality is recognized by the global pharmaceutical industry and various regulatory agencies worldwide. In this regard, various governments are developing legislation related to sourcing and manufacturing excipients for the pharmaceutical industry that has restrained the industry growth to some extent.
Geographical Growth Dynamics:
Asia Pacific is expected to account for the highest CAGR for players operating in the Pharmaceutical Excipients market
The Asia Pacific is the fastest-growing and most dynamic pharmerging market globally, poised to be the most attractive regional market due to its large base of generic drug manufacturers. Several factors, such as the growing Asian scientific base (due to the establishment of R&D centers and manufacturing facilities by major players in recent years); growth in the Asian pharmaceutical markets and pharmaceutica manufacturing capabilities; and the large patient pool are contributing to the growth of the pharmaceutical excipients market in the APAC.
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Key Players:
The prominent players in this market are DuPont (US), Colorcon Inc. (US), BASF SE (Germany), Evonik Industries AG (Germany), Ashland Global Holdings Inc. (US), Kerry Group plc (Ireland), Roquette Freres (France), Eastman Chemical Company (US), Air Liquide S.A. (France), and Merck KGaA (Germany).
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