Market Research Future (MRFR) has published on the “Global Sustained release excipients Market”.
The sustained release excipients market is estimated to register a CAGR of 8.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global sustained release excipients market - Allergan PLC, AstraZeneca, GlaxoSmithKline PLC, Mayne Pharma Group Limited, Mylan NV, Novartis AG, Pfizer Inc., Salix Pharmaceuticals, and Sun Pharmaceutical Industries Ltd.
Sustained release excipients Market Highlights
The global sustained release excipients market is accounted to register a CAGR of 8.00% during the forecast period and is estimated to reach USD 2.5 billion by 2032.
The prevalence of chronic illnesses, the growing need for sustained-release pharmaceuticals, and the growing need for controlled drug-release formulations are the main factors propelling the sustained release excipients market's revenue growth. The growing incidence of chronic illnesses, including diabetes, cancer, and cardiovascular diseases, is another important element propelling the sustained release excipients market's revenue expansion.
Explore In-depth Details: Sustained release excipients Market Size Report
Segment Analysis
The global sustained release excipients market has been segmented into product type, route of administration, and technology.
On the basis of product type, the market is segmented into Gelatin, Polymers, Minerals, Sugars, and Others. The polymers segment was attributed to holding the largest market share in 2023 because of their adaptability and suitability for a variety of medicinal compositions. By creating a matrix that controls the release of active components, polymers enable regulated medication release. They are a favored option for sustained-release medication delivery systems due to their versatility. Furthermore, the need for drugs with prolonged shelf lives and longer releases, particularly for long-term conditions, keeps driving the usage of polymers in pharmaceuticals.
Based on route of administration, the global sustained release excipients market has been segmented into Oral, Intramuscular, Subcutaneous, Transdermal, Intravenous, and Others. The oral segment was expected to hold the largest market share in 2023. It is the most practical and favored method of delivering medication. Compared to alternative drug delivery systems, the availability of the highest active surface area for drug absorption is a major contributing factor to the high share.
Based on technology, the global sustained release excipients market has been segmented into Targeted Delivery, Microencapsulation, Wurster Technique, and Others. The targeted delivery segment was expected to hold the largest market share in 2023. Targeted delivery prevents the medicine from entering undesirable body regions by delivering it to the intended site of action, thereby reducing the risk of drug toxicity. Sustained release drug delivery systems have been shown to increase patient compliance, while targeted drug delivery technology used in localized drug distribution has been shown to reduce variance in drug levels in circulation, provide a consistent medication impact, and reduce the risk of side effects.
Regional Analysis
The global sustained release excipients market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe sustained release excipients market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The sustained release excipients market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World sustained release excipients market comprises the Middle East, Africa, and Latin America.
The North American regional sector maintained the largest market share for sustained release excipients because of its robust pharmaceutical industry, which is enhanced by thorough R&D and has made it a global hub for medication development. Rigid regulatory criteria imposed to ensure drug efficiency and safety, along with a strong focus on patient-centric healthcare, are driving the introduction of sustained-release excipients.
Moreover, the Europe market has been persistently growing over the forecast period. Population aging is the main factor driving market expansion. Additionally, the market for this industry is expected to rise due to the development of complicated biologics and the increasing demand for innovative drug delivery methods. Furthermore, the expansion of the European healthcare sector is supported by the growing cooperation among these organizations to raise public knowledge of chronic illnesses and feasible treatments.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the rise in chronic illness rates, population expansion, and rising disposable incomes. Pharmaceutical manufacturing is expanding in the Asia-Pacific area because it offers cost advantages and a competent labor pool. The region's need for sustained release excipients is growing as a result of the production facilities' relocation and the increased focus on cutting-edge medication delivery methods.
Furthermore, the rest of the world's sustained release excipients market is divided into the Middle East, Africa, and Latin America. The rest of world sustained release excipient market is expected to grow steadily throughout the forecast timeframe. The primary factors driving the region's growth are the rising need for medications, the frequency of chronic illnesses, and the aging population. Favorable government measures aimed at improving healthcare infrastructure and increased healthcare spending are expected to promote market expansion in this region.
Key Findings of the Study
- The global sustained release excipients market is expected to reach USD 2.5 billion by 2032, at a CAGR of 8.00% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market because of the increase in the prevalence of chronic illnesses, population growth, and growing disposable incomes.
- Based on route of administration, the oral segment was attributed to holding the largest market in 2023, with an approximate market share of 47%.
- Allergan PLC, AstraZeneca, GlaxoSmithKline PLC, Mayne Pharma Group Limited, Mylan NV, Novartis AG, Pfizer Inc., Salix Pharmaceuticals, and Sun Pharmaceutical Industries Ltd. are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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