Asia Pacific Sugar based Excipients Market was worth USD 187.24 million in 2022 and estimated to be growing at a CAGR of 5.6%, to reach USD 245.88 million by 2028.
Excipient is like an ingredient added to a formulation along with the active pharmaceutical ingredient (API). The purpose behind adding an excipient is to enhance the pharmacokinetic properties of a formulation. The shelf life of a drug is increased; the dissolution rate is altered among other properties. Sugar based excipients are the most commonly used as they are widely used in oral formulations to mask the bitter taste of the drug.
Drivers and Restraints:
Increasing use of co processed excipients to improve the dissolution, bioavailability and solubility of recently developed active pharmaceutical ingredients, rapid growth in the generics market due to the patent expiration of many blockbuster drugs, and increasing development of orally disintegrating tablets are expected to propel the growth of this market. However, the stringent regulations of FDA for the approval of manufacturing sites are a hindrance to the growth of this market.
Asia Pacific Sugar based Excipients Market Segmentation Analysis:
Asia Pacific sugar based excipients market is segmented based on type, product, functionality and formulation. Based on type the market is segmented into Powder and granules, Crystal, Syrup and others. Powders and granules accounted for the biggest share in the segment due to its wide use in various formulations. Based on product, the market is segmented into actual sugars, sugar alcohols, and artificial sweeteners. Actual sugar dominated the segment whereas sugar alcohols are to witness fast growth over the forecast period due to a rise in the use of mannitol. On the basis of functionality, the market is segmented into fillers, diluents, flavouring agent and tonicity agents. Fillers and diluents account for the major market share due to their widespread use in tablets and capsules. Based on formulation, the market is segmented into oral, topical and parenteral. Oral formulations dominate this segment due to an increased use of various oral formulations.
On the basis of geography, the market is analysed under various regions namely India, China, Japan, Australia and South Korea. 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, favourable government policies, and low cost manufacturing advantage in this region. The major players of this market are India, China and South Korea.
Key Players in the Market:
Some of the key players of the market are Archer Daniels Midland Company, The Lubrizol Corporation, Ashland Inc., Roquette Group, Associated British Foods Plc, Meggle AG, Basf SE, FMC Corporation, Cargill, Inc., Dfe Pharma, and Colorcon Inc.
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