(PharmaNewsWire.Com, November 07, 2020 ) 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 estimated to grow at a CAGR of 4.3%, to reach USD 1,060.6 Million.
What Drives the Market Growth?
- 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
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.
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.
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. On the basis of type, powders/granules segment accounted for the large share of the global sugar excipients market.
Europe is the largest regional segment for the global sugar excipients market. The large share of this regional segment can be attributed to increasing investments in drug development, increasing production of generic drugs, and favorable government initiatives in the region. The market in the Asia-Pacific region is expected to register the highest CAGR owing 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 advantage in this region.
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.).
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