The Chiefs have seen Kai Horstmann, Shaun Malton, Will Chudley, Ed Holmes, Julian Salvi and Thomas Waldrom depart since the end of last season, and have only brought in one new face, Wales and British & Irish Lions international Alex Cuthbert.
However, Baxter says he is happy with his current squad and plans to bring more youngsters into the team over the course of the season.
"What we've got here now, including the academy guys, will be what we start the season with. I would not be surprised if it is the group we finish the season with, too, unless we have major injury issues," Baxter told Devon Live.
"We are very comfortable with what we have got over the next 12 months and these guys will see us through the season.
"We had an average age which was very good last season - it was the youngest in the Premiership.
"So it wasn't about going out and recruiting more players, it was about keeping this group together and letting them mature together."