According to the new market research 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", published by MarketsandMarkets™.
The Global Sugar Excipients Market is expected to reach $1,060.6 Million, at CAGR of 4.3%
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 a shortage of FDA-approved manufacturing sites can hinder their market growth to a certain extent.
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Major Drivers For Sugar-Based Excipients Market:
- Increasing Use of Co-Processed Excipients
- Patent Cliffs Driving the Demand for Sugar Excipients in the Generics Market
- Increasing Development of Orally Disintegrating Tablets (ODTS)
- Shifting Focus of Pharmaceutical Manufacturing to Emerging Countries
Market Segmentation in detailed:
The Global Sugar Excipients Market is segmented based on product, type, functionality, formulation, and region.
Based on the 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 formulation, this market is segmented into oral formulations, parenteral formulations, topical formulations, and other formulations.
The sugar alcohol 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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Worldwide Geographical Analysis:
The Global Sugar Excipients Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. 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 the presence of a large number of global pharmaceutical companies and the increasing demand for 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.
Some prominent players in the global market:
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.)