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Sustained Release Excipients Market Size, Trends & Outlook 2024-2033
Sustained Release Excipients Market Size
According to The Business Research Company's, The sustained release excipients market size has grown strongly in recent years. It will grow 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..
The sustained release excipients market size is expected to see strong growth in the next few years. It will grow to $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.. Major trends in the forecast period include patient-centric drug delivery, collaborations for formulation development, regulatory compliance and safety, global expansion of drug formulation technologies, influence of biopharmaceuticals..
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Market Drivers and Trends:
The increasing prevalence of chronic and acute diseases is expected to propel the growth of the sustained-release excipients market going forward. Chronic and acute diseases are two distinct categories used to classify different illnesses based on their duration and progression. Chronic diseases are long-lasting medical conditions that persist over an extended period, typically three months or more. Acute diseases are characterized by a rapid onset of symptoms that are usually severe but short-lived. These diseases develop suddenly and generally last briefly, ranging from hours to days or weeks. Sustained-release excipients are widely used to formulate pharmaceutical products for both chronic and acute diseases. It improves patient adherence, maintains consistent drug levels, reduces side effects, and improves disease management, so these factors boost the sales of sustained-release excipients. For instance, in September 2022, according to the World Health Organization (WHO), a Switzerland-based specialized health agency, cardiovascular diseases accounted for most NCD deaths, or 17.9 million people annually, followed by chronic respiratory illnesses (4.1 million), diabetes (2.0 million, including fatalities from renal disease brought on by diabetes), and cancer (9.3 million). Furthermore, in October 2022, according to an article published by the Pan American Health Organization, a US-based international public health agency, approximately 10.6 million people fell ill with tuberculosis (TB) in 2021, an increase of 4.5% from 2020. Therefore, the increasing prevalence of chronic and acute diseases drives the growth of the sustained-release excipients market.
Product innovation is the key trend gaining popularity in the sustained release excipients market. Major companies operating in the sustained release excipients market are developing innovative products to strengthen their position in the market. For instance, in September 2022, Nutriventia Limited, an India-based pharmaceutical company, launched Prolanza, a sustained-release ashwagandha ingredient (Withania somnifera). It is an advanced Ashwagandha root-only extract that offers continuous stress-reduction support. Prolanza's unique release mechanism allows it to exhibit its therapeutic effects over an extended period with just one dose each day. IProlanza ashwagandha demonstrated better relative absorption, improved bioavailability, and a longer elimination half-life when compared to the control component, indicating a sustained-release profile. Prolanza's therapeutic effects will last longer and have a higher overall good influence on health because ashwagandha is primarily used for its capacity to adapt and lessen stress responses. It's manufactured from natural herbs and has been clinically confirmed to work.
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Major Key Players of the Market:
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
Sustained Release Excipients Market 2024 Key Insights:
• The sustained release excipients market will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Rising Prevalence Of Chronic And Acute Diseases Fuels Growth In The Sustained-Release Excipients Market
• Sustained Release Excipients Market Advances With Product Innovation
• North America was the largest region in the global sustained release excipients market in 2023
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