PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555752
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555752
Sustained Release Excipients Market size was valued at USD 1,390.43 Million in 2023, expanding at a CAGR of 8.90% from 2024 to 2032.
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Sustained Release Excipients Market- Market Dynamics
Growing demand for extended-release medications and biopharmaceuticals are expected to propel market demand
There is a growing demand for medications that provide long-lasting effects with fewer doses. This trend is driven by the need for improved patient compliance and convenience in managing chronic conditions, which is boosting market growth. The increasing incidence of chronic conditions such as diabetes, hypertension, and cardiovascular diseases creates a demand for medications that can be administered less frequently but maintain therapeutic levels over an extended period. There is a growing emphasis on patient-centric healthcare solutions. Sustained release formulations are designed to improve the convenience and adherence to medication regimens, aligning with this patient-centered approach.
The expansion of biopharmaceuticals, including proteins, peptides, and other biologics, has increased the need for advanced excipients that can effectively deliver these complex drugs over prolonged periods. Sustained-release medications can reduce overall healthcare costs by decreasing the frequency of administration, minimizing side effects, and improving treatment adherence. This cost-effectiveness benefits healthcare systems and encourages the adoption of sustained-release technologies, supplementing market growth.
Sustained Release Excipients Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.90% over the forecast period (2024-2032)
Based on Product Type segmentation, the polymers segment was predicted to show maximum market share in the year 2023, as they offer ideal properties for release excipients.
Based on Route of Administration segmentation, the oral segment was the leading Route of Administration in 2023, due to high effectiveness of oral drug deliveries in most of the disease cure.
Based on Technology segmentation, targeted delivery segment was the leading Technology segment in 2023, as it helps to localize drugs and reduce extra circulation.
On the basis of region, North America was the leading revenue generator in 2023, due to the rapid R&D activities in the region.
The Global Sustained Release Excipients Market is segmented on the basis of Product Type, Route of Administration, Technology, and Region.
The market is divided into six categories based on Product Type: gelatin, polymers, minerals, sugars, alcohol, and others. The polymers segment dominates the market. The high material strength and shelf-life is boosting segment demand.
The market is divided into six categories based on the Route of Administration: oral, transdermal, vaginal, ophthalmic, intravenous, and others. The oral segment dominates the market. Oral drug delivery is the most preferred and convenient method better route of drug delivery.
The market is divided into six categories based on Technology: targeted delivery, microencapsulation, implants, transdermal, Wurster technique, and others. The targeted delivery segment dominates the market and is expected to maintain its high dominance during the forecast period. Targeted delivery drugs help avoid hepatic first-pass metabolism and other chronic diseases.
Sustained Release Excipients Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, dominates the market with a significant share of the global sustained release excipients market. North America and Europe are well-established markets with mature pharmaceutical industries and strong regulatory support. Latin America and the Middle East and Africa are emerging markets with growing opportunities driven by improvements in healthcare along with the rising chronic disease prevalence.
The sustained release excipients market is characterized by a range of companies actively engaged in the development and commercialization of these technologies. Key players in the market are focused on innovation, strategic partnerships, and expanding their product portfolios to meet the evolving needs of the pharmaceutical industry. Companies are investing in R&D to enhance the performance and functionality of its excipients, aiming to offer tailored solutions for various drug delivery systems. Several companies engage in strategic partnerships with pharmaceutical firms and other excipient manufacturers to co-develop new technologies and expand their market presence.
In June 2023, Croda, Inc. announced the expansion of their new manufacturing facility located in Pennsylvania, U.S. to increase its manufacturing capacity.
In June 2023, International Flavors & Fragrances, Inc. launched its novel oral excipients in Chinese market to meet the increasing demand.