DUBLIN--(BUSINESS WIRE)--The "Pharmaceutical Excipients Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product; Functionality; Type of Formulation and Geography" report has been added to ResearchAndMarkets.com's offering.
According to this report the global pharmaceutical excipients market is expected to reach US$ 9,873.53 million by 2027 from US$ 6,521.74 million in 2019. The market is estimated to grow at a CAGR of 5.5% from 2020 to 2027. The report highlights the trends prevalent in the global pharmaceutical excipients market and the factors driving the market along with those that act as deterrents to its growth.
Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and others products. In 2019, the organic chemicals segment held the largest market share, and is expected to dominate the market during the forecast period due to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry. Moreover, the same segment is anticipated to grow at the fastest rate during the forecast period.
Driving factors, such as surge in generics market and growth of the pharmaceutical market backed by multi-functional excipients, are expected to boost the market growth over the years. However, cost and time intensive drug development process is likely to pose a negative impact on the market growth.
The coronavirus pandemic is estimated to have significant impact on the pharmaceutical excipients market. Majority of the pharmaceutical companies around the globe are engaged in the development of vaccines for coronavirus. However, this shift of focus is anticipated to have a negative impact on the other segments of the market. Also, disruptions in supply chain caused due to halt in global operations are projected to have an adverse impact on the market.
DuPont de Nemours, Inc.; Roquette Freres; Ashland Global Holdings, Inc.; BASF SE; Evonik Industries AG; Associated British Foods Plc; Archer Daniels Midland Company; Lubrizol Corporation; Croda International Plc; and DFE Pharma are among the prominent players operating in pharmaceutical excipients market.
The market players are focused toward bringing new and innovative products and services to sustain their position in the market. For instance, in June, 2020, Evonik launched RESOMER Precise platform of custom functional excipients to precisely control the release profile of parenteral drug products. Such developments are expected to help the market growth during the forecast period.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the pharmaceutical excipients market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global pharmaceutical excipients market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
Market Dynamics
Drivers
- Surge In Generics Market
- Growth of the Pharmaceutical Market Backed By Multi-Functional Excipients
Restraints
- Cost and Time Intensive Drug Development Process
Opportunities
- Shifting Focus of Pharmaceutical Manufacturing Companies to Emerging Countries
Future Trends
- Rising Demand and Emphasis on Co-Processed Excipients
- Improving Excipient Capabilities due to Nanotechnology
Companies Mentioned
- DuPont de Nemours, Inc.
- Roquette Freres
- Ashland Global Holdings, Inc.
- BASF SE
- Evonik Industries AG
- Associated British Foods Plc
- Archer Daniels Midland Company
- Lubrizol Corporation
- Croda International Plc
- DFE Pharma
For more information about this report visit https://www.researchandmarkets.com/r/yh51ww
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March 19, 2021 at 07:22PM
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Global Pharmaceutical Excipients Market Forecast to 2027 - COVID-19 Impact and Analysis - ResearchAndMarkets.com - Business Wire
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