According to FutureWise analysis the market for Sugar-Based Excipients in 2023 is US$ 1.16 billion, and is expected to reach US$ 1.65 billion by 2031 at a CAGR of 4.50%.
The global sugar excipients market size crossed the million-dollar mark in 2020 and is expected to register a steady CAGR over the forecast period. Major factors driving market revenue growth are the increasing use of co-processed excipients, rapid growth in the generics market due to the patent expiration of many blockbuster drugs, and increasing development of orally disintegrating tablets (ODTs).
Life science products cater to a growing yet diverse market that is being driven by increasing demands for improved medicinal efficacy, technological performance, and regulatory and safety compliance. Pharmaceutical drugs, non-prescription treatments, food supplements, and health and beauty products all require high-quality sugar excipients.
Many typical administration forms, such as galenic liquids, compressed tablets, granules, powders, lozenges, coatings, and even pharmaceutical chewing gums, can benefit from the use of sugar excipients. They can serve as a filler, binder, coating material, anti-adherent, or taste-concealing unpleasant flavors of active ingredients and making pharmaceutical goods more appealing.
This report segments the global sugar excipients market based on product, type, functionality, formulation, and region. Based on product, the market is segmented into actual sugars, sugar alcohols, and artificial sweeteners. The actual sugars accounted for the largest market share in 2015, owing to their high utilization in oral and pediatric formulations due to their 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, based on functionality, the market is segmented into fillers and diluents, flavoring agents, tonicity agents, and other functionalities. Based on formulation, this market is segmented into oral, parenteral, topical, and other forms.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Sugar-Based Excipients Market Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Sugar-Based Excipients Market Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.