Sustained Release Excipients Markets - Global Forecast to 2033 with BASF, Ashland, and The Dow Chemical Co Dominating, Accounting for 42.8% of the Market's Revenue
DUBLIN, Feb. 27, 2023 /PRNewswire/ -- The "Sustained Release Excipients Market by Product, Technology, Route of Administration, and by Region - Global Forecast to 2022-2033" report has been added to ResearchAndMarkets.com's offering.
The sustained release excipients market size is estimated to be USD 1,395.1 million in 2022 and is expected to witness a CAGR of 8.62% during the forecast period 2023-2033.
Increase in patent expirations, rise in the need for dosage forms for the elderly and paediatric populations, growing knowledge of the additional advantages of controlled-release formulations, escalating incidence of acute and chronic diseases are some of the factors contributing to the market growth.
Additionally, mounting effects of drug abuse on population health is also fuelling the market growth. However, increasing cost of drugs and lack of awareness is expected to hinder the growth.
Escalating incidence of acute and chronic diseases is expected to drive the market growth. Around the world, both acute and chronic diseases are becoming more common. Doctors prescribe medications to treat these conditions. Excipients are frequently present in medicines in addition to the active medicinal components. A huge demand for medications is seen as a result of the rise in chronic disease prevalence. Due of the large volume in the Asia Pacific region, they are in high demand.
Mounting effects of drug abuse on population health is predicted to support the market growth. Abuse of drugs has a significant negative effect on people's and their families' health. Long-term drug and alcohol addiction can result in mental illness, chronic conditions including diabetes and heart disease, and cancer, all of which impose a heavy financial cost on society.
Governments are concentrating on prevention and early intervention measures are likely to increase demand for drugs of abuse. This will help to reduce the economic burden brought on by drug misuse.
By Product
The market is categorized into polymers, alcohol, minerals, gelatin, chitosan, and sugar.
In 2022, the polymers accounted for the highest revenue share due to the rising usage of polymers in sustained-release formulations. In comparison to other types of excipients used in different medicinal formulations, they are stronger and have a longer shelf life. For application as an excipient in solid medicinal formulations, polymers have the ideal characteristics.
Over the past few years, pharmaceutical polymers have advanced from being used to make easy gelatin capsules to strengthening excipient capsules with optimal formulation characteristics that support controlled/sustained release and aid in drug delivery to target areas. Additionally, polyethylene glycol has had great growth over the past several years due to an increase in the number of formulations using it.
By Technology
The market is divided into transdermal, targeted delivery, micro encapsulation, coacervation, wurster technique, implants, others. In the global market, the segment accounted for the largest revenue share in 2022 owing to the fact that with targeted drug delivery technology, the drug can be delivered locally, resulting in a uniform effect, less volatility in circulating drug levels, and a minimal risk of side effects.
The greatest CAGR is anticipated for the transdermal route of technology, during the forecast period. In comparison to conventional drug administration methods, transdermal sustained release delivery systems provide a number of benefits, including the ability to circumvent hepatic first-pass metabolism, greatly reduce pharmacological side effects, and significantly increase patient compliance.
These technologies have shown to be more effective than traditional drug delivery methods in the treatment and management of chronic diseases like rheumatoid arthritis and asthma. Corplex technology, developed by Corium International, Inc., offers a simpler method of drug delivery by delivering small-molecule medications through the skin.
By Route of Administration
The market is segmented into intramuscular, oral, vaginal, transdermal, intravenous, ophthalmic, subcutaneous, and others.
In 2022, the oral segment accounted for the largest revenue share owing to the fact that it is the simplest and most used method of medication delivery. The availability of the highest active surface area for drug absorption in contrast to other drug delivery methods is one of the major causes behind the high share.
Another significant element that contributes to the widespread adoption of the oral route of drug delivery is the convenience of producing tablets and capsules. The largest CAGR is anticipated for the transdermal method of delivery, during the projected period. This method of administration reduces a number of drawbacks related to the parenteral and oral routes of administration. Transdermal patches are a simple way to promote the prolonged delivery of medications via skin's surface.
Regional Markets
In 2022, Europe region accounted for the highest revenue in the sustained release excipients market and is expected to maintain its dominance during the forecast period.
This is attributed to the rising R&D efforts and the involvement of significant pharmaceutical companies in the area. As a result of expirations and the subsequent entry of generics, it is predicted that the region will continue to grow over the forecast period at a profitable rate.
Additionally, the expansion of regional healthcare organisation partnerships to raise public awareness of chronic diseases and accessible treatment alternatives contributes to the market expansion in Europe. In contrast, Asia Pacific is anticipated to expand at the fastest rate over the projection period. The escalating incidence of numerous infectious diseases, the quickly evolving healthcare system, and the growing need for highly effective treatments are all factors contributing to the expansion of this region.
Competitor Insights
To increase the market position, key companies are putting numerous strategies into practise, such as alliances formed through mergers and acquisitions, geographic expansions, and strategic collaborations.
For instance, In February 2021. DuPont effectively incorporated its Nutrition & Biosciences Business with International Flavors & Fragrances. The portfolio has expanded with the inclusion of Aquacoat products, increasing the number of options available to fulfil market requirements.
In the global market for sustained release excipients, firms like BASF Corporation, Ashland Global Holdings Inc., and The Dow Chemical Company account for more than 42.8% of the market's revenue. To enhance the distribution of their products in the sustained release excipients industry, the companies active in this sector are partnering with regional distributors
This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product, technology, and route of administration from 2023 to 2033.
A selection of companies mentioned in this report includes
- Croda International Plc
- Ashland Global
- Teva Pharmaceutical Industries Ltd.
- Valeant Pharmaceuticals International Inc.
- Sun Pharmaceutical Industries Ltd.
- Mylan N.V.
- Pfizer Inc.
- AstraZeneca; GlaxoSmithKline plc
- Allergan plc
- Novartis AG
- Gattefosse
- Janssen Pharmaceuticals Inc.
- Mayne Pharma Group Ltd.
- BASF
- International Flavors & Fragrances Inc.
- Evonik Industries
- Merck KGaA
Segmentation: Sustained Release Excipients Market Report 2022 - 2033
Product (Revenue, USD Million), 2022 - 2033
- Polymers
- Alcohol
- Minerals
- Gelatin
- Chitosan
- Sugar
Technology (Revenue, USD Million), 2022 - 2033
- Transdermal
- Targeted Delivery
- Micro Encapsulation
- Coacervation
- Wurster Technique
- Implants
- Others
Route of Administration (Revenue, USD Million), 2022 - 2033
- Intramuscular
- Oral
- Vaginal
- Transdermal
- Intravenous
- Ophthalmic
- Subcutaneous
- Others
By Region (Revenue, USD Million), 2022 - 2033
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/obycvz-release?w=5
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