(PharmaNewsWire.Com, January 16, 2021 ) According MarketsandMarkets Research –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 during the last decade, and is expected to grow at a CAGR of 4.3%, to reach USD 1,060.6 Million.
The 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.
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.).
DFE Pharma (Germany) held the second-largest share in the Sugar-Based Excipients Market. In the sugar 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.
BASF SE (Germany) is another well-established player in the sugar excipients market. The company’s stronghold in the global market is largely attributed to its innovative and sustainable products and solutions. It provides customized products to make customers’ production processes more efficient and increase the application of products. The company emphasizes on increasing its market presence and geographical coverage through expansions and agreements in order to remain competitive in the global market. Strategically, the company has planned to invest about USD 13.8 million (EUR 10 billion) from 2013 to 2020 to enhance its geographic footprint in Asia-Pacific. With regard to this, in March 2014, BASF SE opened a new global R&D Center in Navi Mumbai, India, with an initial investment of USD 2.76 million. By 2020, the company plans to conduct around 25% of its global R&D in Asia-Pacific, to develop innovative solutions to address the region’s challenges of resource efficiency, food, and nutrition. In addition, in May 2014, BASF opened its first Nutrition and Health Application Center at Sao Paulo (Brazil) to expand its global innovation network for the food and pharmaceutical industries and strengthen its customer base. Moreover, in February 2013, the company entered into an agreement with Bend Research Inc. (U.S.), a leader in drug delivery technologies and formulation development, to develop novel excipients.
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