Global Sustained Release Excipients Market Size 2024, Forecast To 2033
6 Mar, 2024
The sustained release excipients market has exhibited strong growth, increasing from $1.29 billion in 2023 to $1.41 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.6%. The growth observed in the historical period is attributed to the increased demand for controlled drug release, the prevalence of chronic diseases, considerations of patient compliance and convenience, innovations in the pharmaceutical industry, and regulatory support for extended-release formulations. Looking ahead to the future, the sustained release excipients market is expected to see continued strong growth, projecting a market size of $1.96 billion in 2028, with a CAGR of 8.4%. Contributing factors in the forecast period include an increasing geriatric population, a focus on personalized medicine, challenges in patient adherence, a rise in complex drug formulations, advancements in disease management, and the expansion of global healthcare. Major trends include patient-centric drug delivery, collaborations for formulation development, regulatory compliance and safety, the global expansion of drug formulation technologies, and the influence of biopharmaceuticals.
Global Sustained Release Excipients Market Key Driver
The sustained-release excipients market is expected to experience growth propelled by the increasing prevalence of chronic and acute diseases. Chronic and acute diseases, categorized based on their duration and progression, impact individuals differently. Chronic diseases are long-lasting conditions persisting for three months or more, while acute diseases exhibit rapid onset and short-lived symptoms. Sustained-release excipients find extensive use in formulating pharmaceutical products for both chronic and acute diseases. This aids in improving patient adherence, maintaining consistent drug levels, reducing side effects, and enhancing disease management. According to the World Health Organization in September 2022, cardiovascular diseases accounted for 17.9 million deaths annually, with chronic respiratory illnesses, diabetes, and cancer also contributing significantly. Additionally, an article by the Pan American Health Organization in October 2022 reported a 4.5% increase in tuberculosis cases in 2021, totaling approximately 10.6 million. The growing prevalence of chronic and acute diseases is a major factor driving the sustained-release excipients market, indicating positive market size values for 2023, 2024, and 2028.
Get A Free Sample Of The Global Sustained Release Excipients Market ReportGlobal Sustained Release Excipients Market Segments
The sustained release excipients market covered in this report is segmented –
1) By Product: Gelatin, Polymers, Minerals, Sugars, Alcohol, Chitosan
2) By Route of Administration: Oral, Intramuscular, Subcutaneous, Transdermal, Vaginal, Ophthalmic, Intravenous, Other Routes of Administration
3) By Technology: Targeted Delivery, Micro Encapsulation, Wurster Technique, Transdermal, Implants, Coacervation
By Geography:The regions covered in the sustained release excipients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the global sustained release excipients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sustained release excipients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Sustained Release Excipients Industry Players
Mylan N.V., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Novartis AG, Ashland Global Holdings, Salix Pharmaceuticals, Allergan PLC, AstraZeneca, GlaxoSmithKline PLC, Mayne Pharma Group Limited, BASF Aktiengesellschaft, International Flavors & Fragrances Inc., Croda International Plc, Gattefossé SAS, Merck KGaA, Food Machinery and Chemical Corporation, Roquette Freres, Colorcon Inc, Dow Chemical Company, Wacker Chemie AG, Evonik Industries Inc., Lubrizol Corporation, Shin-Etsu Chemical Co. Ltd., Eastman Chemical Company, Kerry Group plc, Innophos Holdings Inc., Sensient Technologies Corporation, Koninklijke DSM N.V., Ingredion Incorporated, Cargill Incorporated, Archer Daniels Midland Company, DuPont de Nemours Inc., Lonza Group
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Sustained Release Excipients Market Overview
Sustained-release excipients refer to pharmaceutical ingredients or additives used in the formulation of drug delivery systems designed to achieve controlled or sustained release of active pharmaceutical ingredients (APIs) over an extended period of time. These excipients play a crucial role in controlling the release rate and duration of drug action, thereby optimizing therapeutic efficacy and patient compliance.
Sustained Release Excipients Global Market Report 2023 provides data on the global sustained release excipients market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sustained release excipients market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.