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(Health-NewsWire.Net, July 06, 2021 ) The Research Report on “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” published by MarketsandMarkets™, the market witnessed healthy growth during the last decade and is expected to grow at a CAGR of 4.3%, will reach USD 1,060.6 Million.
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:
Based on product, the market is segmented into actual sugars, sugar alcohols, and artificial sweeteners.
Based on 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 functionality, fillers & diluents segment accounted for the largest share in this market. The large share of this segment is primarily attributed to huge utilization of fillers and diluents in the development and production of oral dosage forms such as tablets, capsules, and syrups.
On the basis of formulation, oral formulations accounted for the largest share in the global market due to it increased use of oral formulations such as tablets, capsules, solutions, and emulsions for various therapeutic areas.
Actual sugar accounted for the largest share of the global sugar excipients market. The sugar alcohols segment is expected to witness the highest growth in the next five years primarily due to the rising use of mannitol in a wide range of dosage forms such as oral and topical, and its high adaptability in emerging formulation technologies, such as orally disintegrating tablets.
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Geographically, the global Sugar-Based Excipients Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, Europe commanded a major share of the global market. Europe’s largest share is primarily attributed to the increasing investments in drug development, increasing production of generic drugs, and favorable government initiatives in the region. North America, represents the second largest market for sugar excipients. Factors such as presence of large number of global pharmaceutical companies, and increasing demand of generic drugs due to patent expiration of blockbuster drugs are majorly contributing to the growth of the market in this region.
However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to the significant growth in the regional healthcare market as well as the pharmaceutical industry, growing scientific base and capability, and favorable government policies, and low-cost manufacturing advantages in this region.
Global Key Leaders:
Some of the prominent players in the global sugar excipients market include Roquette Group (France), DFE Pharma (Germany), BASF SE (Germany), Ashland Inc. (U.S.), Archer Daniels Midland Company (U.S.), MEGGLE AG (Germany), Associated British Foods Plc (U.K.), Cargill, Inc. (U.S.), Colorcon, Inc. (U.S.), FMC Corporation (U.S.), and The Lubrizol Corporation (U.S.).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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