Sustained Release Excipients Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 8, 2024 /EINPresswire.com/ -- The sustained release excipients market has experienced robust growth in recent years, expanding from $1.29 billion in 2023 to $1.41 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to increased demand for controlled drug release, chronic disease prevalence, patient compliance and convenience, pharmaceutical industry innovations, regulatory support for extended-release formulations..
Strong Future Growth Anticipated The sustained release excipients market is projected to continue its strong growth, reaching $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing geriatric population, focus on personalized medicine, challenges in patient adherence, rise in complex drug formulations, advancements in disease management, global healthcare expansion.
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Growth Driver Of The Sustained Release Excipients MarketThe growing demand for personalized medicine is expected to propel the growth of the sustained-release excipients market going forward. Personalized medicine, or personalized care, refers to the method by which medical professionals study patients' unique genes, proteins, and other bodily components to provide and organize customized care using precision medicine. Sustained-release excipients play a crucial role in personalized medicine by enabling the development of drug formulations tailored to individual patient needs.
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Major Players And Market TrendsKey players in the sustained release excipients market include Mylan N.V., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Novartis AG, Ashland Global Holdings, Salix Pharmaceuticals, Allergan PLC.Major companies operating in the sustained-release excipients market are focused on developing technological innovations, such as direct compression solutions, to gain a competitive edge in the market. Direct compression is a highly desired and efficient process in tablet manufacturing. It involves directly converting a blend of active pharmaceutical ingredients (APIs) and excipients into tablets without requiring additional steps like granulation or wet massing.
Segments:1) By Product: Gelatin, Polymers, Minerals, Sugars, Alcohol, Chitosan2) By Route of Administration: Oral, Intramuscular, Subcutaneous, Transdermal, Vaginal, Ophthalmic, Intravenous, Other Routes of Administration3) By Technology: Targeted Delivery, Micro Encapsulation, Wurster Technique, Transdermal, Implants, Coacervation
Geographical Insights: North America Leading The MarketNorth 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
Sustained Release Excipients Market DefinitionSustained-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 2024 from The Business Research Company covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Sustained Release Excipients Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sustained release excipients market size, sustained release excipients market drivers and trends, sustained release excipients market major players, sustained release excipients competitors' revenues, sustained release excipients market positioning, and sustained release excipients market growth across geographies. The sustained release excipients market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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August 08, 2024, 13:52 GMT
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Originally published at https://www.einpresswire.com/article/733988442/sustained-release-excipients-global-market-2024-to-reach-1-96-billion-by-2028-at-rate-of-8-4
