New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sustained Release Excipients Global Market Report 2023" - https://www.reportlinker.com/p06486602/?utm_source=GNW
, Merck KGaA, AstraZeneca PLC, Colorcon Inc., and Salix Pharmaceuticals Inc.
The global sustained release excipients market is expected to grow from $1.18 billion in 2022 to $1.29 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sustained release excipients market is expected to reach $1.80 billion in 2027 at a CAGR of 8.6%.
The sustained-release excipients market consists of sales of ethyl cellulose, lipid-based excipients, waxes, fatty acids, polyethylene glycol (PEG), copovidone, and osmotic agents.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Sustained-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.
North America was the largest region in the sustained release excipients market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered is sustained-release excipients report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of sustained-release excipient products are gelatin, polymers, minerals, sugars, alcohol, and chitosan.Gelatin refers to a protein derived from collagen, which is the most abundant protein in animal connective tissues such as skin, bones, and tendons.
These are administered through various routes, including oral, intramuscular, subcutaneous, transdermal, vaginal, ophthalmic, intravenous, and others. Several types of technologies are involved, such as targeted delivery, microencapsulation, the Wurster technique, transdermal, implants, and coacervation.
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.
In December 2021, Pfizer Inc., a US-based pharmaceutical and biotechnology corporation, acquired Arena Pharmaceuticals for approximately $6.7 billion. The acquisition of Arena strengthens Pfizer’s abilities as well as its experience in inflammation and immunology, a Pfizer innovation engine that creates viable treatments for patients with crippling immuno-inflammatory illnesses who require better treatment alternatives. Arena Pharmaceuticals is a US-based producer of sustained-release drug formulations.
The countries covered in the sustained-release excipients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The sustained release excipients market research report is one of a series of new reports that provides sustained release excipients market statistics, including sustained release excipients industry global market size, regional shares, competitors with a sustained release excipients market share, detailed sustained release excipients market segments, market trends and opportunities, and any further data you may need to thrive in the sustained release excipients industry. This sustained release excipients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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