According to The Insight Partners market research study titled Pharmaceutical Excipients Market to 2027 - COVID-19 Impact and Global Analysis - by Product, Functionality, and Type of Formulation, 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.

The pharmaceutical excipients market is highly competitive in nature with considerable number of players, having a high level of consolidation overall revenue share. Most of the companies operating in the pharmaceutical excipients market are present globally and have wide distribution and sales network through partnerships or authorized dealers.

The most notable market participants are DuPont de Nemours, Inc., Roquette Frères, 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 occupying a considerable share of the market owing to their offerings to the market.

Market leaders are involved in extensive research for the development of new pharmaceutical excipients and therapeutics with better efficiency and treatment outcomes. 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 grow during the forecast period.

Many well-known as well as small local companies are present in the market to provide diversified products to its customers. The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally various companies are also undergoing other strategic alliances such as collaborations and others to garner their significance and remain competitive in the market.

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.

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