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(Health-NewsWire.Net, April 23, 2021 ) The report "Sugar-Based Excipients Market by Product (Actual Sugars, Sugar Alcohols, Artificial Sweeteners), Type (Powder/Granule, Crystal, Syrup), Functionality (Filler & Diluent, Tonicity Agents), Formulation (Oral, Topical, Parenteral) - Global Forecast", the sugar excipients market has witnessed healthy growth rate and expected to grow at a CAGR of 4.3%, to reach USD 1,060.6 Million.
What Drives the Sugar-Based Excipients Market Growth?
Increasing use of co-processed excipients to improve the dissolution, bioavailability, and solubility of recently developed active pharmaceutical ingredients (APIs), rapid growth in the generics market due to the patent expiration of many blockbuster drugs, and increasing development of orally disintegrating tablets (ODTs) are expected to propel the growth of this market. However, stringent regulatory requirements leading to shortage of FDA-approved manufacturing sites can hinder their market growth to a certain extent.
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Sugar-Based Excipients Market Segmentation in Detailed:
On the basis of product, the market is segmented into actual sugars, sugar alcohols, and artificial sweeteners. The actual sugars accounted for the largest share of the market, owing to its high utilization in oral formulations and pediatric formulations due to its non-toxicity and negligible reaction with drugs.
Based on the type, the market is segmented into powders/granules, direct compression sugars, crystals, and syrups.
Similarly, on the basis of functionality, the market is segmented into fillers & diluents, flavoring agents, tonicity agents, and other functionalities.
Based on formulation, this market is segmented into oral formulations, parenteral formulations, topical formulations, and other formulations.
Geographical View in-detailed:
Europe dominated the sugar excipients market, followed by North America. The increasing investments in drug development, increasing production of generic drugs, and favorable government initiatives in the region are factors driving the growth of this market in Europe. On the other hand, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period. The significant growth in the regional healthcare market as well as the pharmaceutical industry, growing scientific base and capability, favorable government policies, and low-cost manufacturing advantage are key market drivers in this region.
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Global Key Leaders:
Roquette Group (France), DFE Pharma (Germany), BASF SE (Germany), and Ashland Inc. (U.S.), held the major share of the sugar excipients market, and are expected to dominate the market during the forecast period. Other major players in this market are Associated British Foods Plc (U.K.), Cargill, Inc. (U.S.), Colorcon, Inc. (U.S.), FMC Corporation (U.S.), MEGGLE AG (Germany), and The Lubrizol Corporation (U.S.).
DFE Pharma (Germany) held the second-largest share in the sugar excipients market. In the sugar-based excipients market, the company is largely known for its diversified lactose offerings for the pharmaceutical industry. Its position among the top sugar excipient manufacturers is attributed to its global footprint through distributors and agents. The company is highly focused on expansion of its functional units in emerging countries. For instance, in October 2014, the company opened a new sales office in Shanghai, China to effectively meet the growing demand for excipients products and services in China. In addition, in April 2014, the company opened a new sales office in São Paulo, Brazil to support the growing demand for excipient products and strengthen its presence in South and Central American countries.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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