Asia-Pacific Pharmaceutical Excipients Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product ; Functionality ; Type of Formulation

The pharmaceutical excipients market in Asia Pacific is expected to grow from US$ 1,388.3 million in 2019 to US$ 2,214.6 million by 2027; it is estimated to grow at a CAGR of 6% 2019-2027. India is also taking advantage of the growth of the domestic pharmaceutical industry, encouraging the Japanese pharmaceutical industry, either wholly owned or in partnership with Indian firms, to develop their facilities in the area. In addition, via the automatic route, India has until now allowed 100% FDI. In pharmaceutical manufacturing, this 100 percent FDI under the automatic route has allowed to give domestic manufacturing a major boost. The demand for pharmaceutical manufacturing in Japan is still less. However, over the past few years, the nation has experienced incremental growth. Since the recognition to separate manufacturing and sales by the Pharmaceutical Affairs Act, the Japanese industry has experienced a healthy growth. Ever since, the growth trend has been continuing. Many pharmaceutical firms in Australia are being challenged by extensive governmental reforms in structural changes, drug pricing, and unpredictability in reimbursement and pricing decisions. The potential growth in demand for pharmaceutical excipients lies in the development of R&D institutes across Asia Pacific. In addition, the rise in the capital income with the changes in the economic strategies is outshining market demand. The growth of the market in the region is fueled by an increase in the production rate of medications. With the launch of various innovative products and the acceptance of nanotechnology in the medical sector, market demand is increasing.
The market for pharmaceutical excipients market is segmented into product, functionality, and type of formulation.Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and other products.

In 2019, the organic chemicals segment accounted for the largest share, and is expected to grow at a fastest CAGR during the forecast period.Organic chemicals are chemical compounds that contain carbon-hydrogen bonds, and these can be found in natural or synthetic form.

Most organic chemicals are carbon based, hence produced by plants or animals, whereas synthetic organic chemicals are produced through chemical reactions.Organically derived pharmaceuticals excipients include oleochemicals, carbohydrates, petrochemicals, proteins, povidones, acrylic polymers, mineral hydrocarbons, starch, cellulose, and others.

The most used oleo chemical-based pharmaceutical excipients are fatty alcohols, mineral stearates, glycerin, and lipids. The organic segment is expected to lead the market owing to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry.
In India, although imports of pharmaceutical raw material from China resumed in mid-March, the current COVID-19 caused lockdown situation in the country has disrupted pharmaceutical production, as the ban on public transportation is making it difficult for workers to reach manufacturing plants.This is also disrupting the supply of packaging materials, among other essentials supporting the pharmaceutical industry.

The slowdown in imports has also affected the innovative drug developers.The manufacturers of branded pharmaceuticals may see a shift in their demand both as antiviral use rises, and as other chronic conditions are left untreated by patients due to concerns over exposure to the pandemic.

The pharmaceutical units are currently operating at 40%–50% of their capacities because of unavailability of workforce and curtailment of operations to only one shift at various plants.The restrictions on usage of public transportation as well as requirement for passes for traveling interstate or inter-district have also affected the movement of laborers and they are finding it difficult to reach manufacturing plants.

The shortfall in pharmaceuticals production due to shortage of APIs and key starting raw materials is having a direct impact on the country’s export of generic medicines worldwide as well as impeding the development of drugs required to fight the pandemic.
The overall Asia Pacific pharmaceutical excipients market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Asia Pacific pharmaceutical excipients market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific pharmaceutical excipients market. 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; DFE Pharma; and Croda International Plc are among a few players operating in the Asia Pacific pharmaceutical excipients market.