- Market Growth Drivers:
- Growth of the Pharmaceuticals Market Backed By Functional Excipients.
- Surge in the Generics Market.
- Increasing Uptake of Biopharmaceuticals.
- Rising Adoption of Orphan Drugs.
Overview of the Study for Pharmaceutical Excipients Market:
The study involved 4 major activities in estimating the current market size for 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.
Market Share Estimation:
The market shares for leading pharmaceutical excipients manufacturing companies was arrived at after detailed assessment of their revenues from the pharmaceutical excipients business by secondary data available through paid and unpaid sources. Owing to data limitations, in certain cases revenue share was arrived at after detailed assessment of the product portfolios of major companies and their respective sales performance. At each point, this data was validated through primary interviews with various industry experts.
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).
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What the Market Looks Like?
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%.
Global Geographical Scenario:
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.
The global pharmaceutical excipients market is highly fragmented as none of the market players held a market share of more than 15%. The top ten players account for more than half of the total market share, while several other global and regional market players account for the remaining share.
The leading market players are based across developed countries such as the US, Germany, France, the UK, and Ireland. Various small and medium-sized players operating in both developed and emerging markets are making this a highly competitive market. On the other hand, dominant market players have numerous advantages such as stronger marketing & distribution networks, greater budgets for R&D, and better brand recognition.
The market also shows the presence of numerous small players operating at the global as well as the regional levels. Companies are increasing their focus on R&D to add innovative products to their portfolios, which, in turn, helps them strengthen their market presence. In addition to this, the lucrative growth opportunities in the relatively untapped APAC market are encouraging market players to strengthen their presence in this region.
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