The global sustained release excipients market was valued at USD 1.29 billion in 2022 and is expected to grow at an 8.22% CAGR from 2022 to 2032. The global market for sustained-release excipients is expected to reach USD 2.84 billion by 2032.
The increasing numbers of patent expirations, as well as the growing demand for geriatric and pediatric population dosage forms, are driving the sustained release excipients market growth. As patients’ expectations for greater convenience rise, so does the demand for controlled-release formulations.
Key Companies Profiled
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Valeant Pharmaceuticals International, Inc.
- Pfizer, Inc.
- Sun Pharmaceutical Industries Ltd.
- Novartis AG
- GlaxoSmithKline plc
- Allergan plc
- Janssen Pharmaceuticals, Inc.
- Mayne Pharma Group Ltd.
Development of Economical Dosage Forms
Physicians have widely accepted the use of controlled release formulations to reduce antibiotic resistance. These formulations are a top choice of formulations among doctors, increasing their demand in the sustained release excipients market. They produce preferred therapeutic drug levels in blood plasma and reduce the dosage frequency.
Diseases are Becoming More Prevalent Globally
Over the course of history, both acute and chronic diseases have become more common. Doctors prescribe medications for the treatment of these illnesses. Along with the active pharmaceutical ingredients, excipients are typically present in medicines. Due to the rising prevalence of chronic diseases, there is an enormous demand for medications. As a result of the large volume in the Asia Pacific sustained release excipients market, they are highly sought after.
To ensure that the drug reaches the target site, sustained releasse excipients release the medication gradually. Numerous applications exist for excipients. As a result of this, there is a high demand for sustained release excipients. Compared to conventional excipients, sustained release excipients have lower indirect costs.
- The product category of polymers, which controlled the global sustained release excipients market, contributed more than 43.60% of the total revenue.
- The oral drug delivery market, which generated more than 40.25% of the overall revenue, dominated the sustained release excipients market.
- When analysed in terms of technology, targeted delivery monopolised the sustained release excipients market and adjusted to account for the strongest portion of total revenue, or 22.6%.
- On the other hand, during the forecast years, Asia Pacific sustained release excipients market is anticipated to expand at the fastest rate.
- With more than 36.45% of global sales, Europe led the market for sustained release excipients.
In the market for sustained release excipients’ competition section, key players operating in the sector are profiled based on their market shares, distinctive business models, product lines, and company dashboards.
The Dow Chemical Company, Roquette Freres S.A., Colorcon Inc., Croda International Inc., Ashland Global Holdings, BASF Corporation, and Ashland Global Services are a few examples of some of the major companies of the sustained release excipients market.
In March 2022, Hovione added Zerion Pharma to the list of partners in its oral drug delivery toolkit. Zerion Pharma aims to commercialise the technology for overcoming the problems associated with low drug solubility.
Through the Controlled Release Alliance with DuPont, Colorcon, Inc. announced in April 2019 the addition of the Aquacoat range of modified release products to its functional film coatings.
The merger of DuPont’s Nutrition & Biosciences Business and International Flavors & Fragrances was finalised in February 2021. The portfolio’s variety of solutions to meet the needs of the industry has increased with the inclusion of Aquacoat products.