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DUBLIN--(BUSINESS WIRE)--Oct 28, 2022--
The "Sustained Release Excipients Market Size, Share & Trends Analysis Report by Route Of Administration (Oral, Transdermal), by Technology (Transdermal, Implants), by Product (Gelatin, Sugars), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global sustained release excipients market size is expected to reach USD 2.4 billion by 2030, registering a CAGR of 8.22%
Rise in the number of patent expirations, need for pediatric & geriatric dosage forms, and added benefits provided by sustained release formulations are factors that are positively contributing to the market potential.
Sustained release formulations significantly reduce dosage frequency and improve patient compliance. These factors are further aiding industry growth. In comparison to conventional drugs, sustained drug release technologies provide a wide range of benefits.
Reduced dosage frequency, improved patient compliance, maintenance of the constant level of drug in blood plasma, lower instances of toxicity due to overdose, and higher cost-effectiveness, in the long run, are some of the major advantages of using sustained release drug delivery systems.
Regular consumption of oral conventional drugs generally results in undesired symptoms, such as gastrointestinal upset, cramps, nausea, and diarrhea. The use of sustained release drug formulations provides patients relief from these symptoms and helps maintain desired therapeutic drug levels in the body. Moreover, these have been increasing the adoption of sustained release formulations, enabling higher patient compliance and improved therapeutic effect.
Over the past few years, there has been a global rise in antibiotic resistance. Overuse and misuse of conventional drug formulations have been identified as the major cause of antibiotic resistance. In some instances, patients recover within a few days of drug administration and discontinue the recommended dose of drugs, culminating in resistance.
Such resistance leads to higher medical costs, longer hospital stays, and a rise in mortality rate. The rise in the incidence of infectious and chronic diseases has also resulted in antibiotic resistance, which has negatively impacted the conventional dosage forms market. Thus, alternative procedures to treat and manage these diseases are being implemented.
The use of controlled release formulations has been extensively accepted among physicians to prevent antibiotic resistance. Since these formulations generate preferred therapeutic drug levels in blood plasma and decrease the dosage frequency, they are an ideal choice of formulations among physicians, which increases their demand in the industry.
The impact of disruptions on pharmaceutical production and subsequently on excipient demand affected by lockdowns and transport and travel bans across several countries due to the COVID-19 pandemic will be comparatively short-term. However, the supply disruptions due to extended lockdowns in different countries may have a more substantial impact on the oral solid dosage form drug manufacturing.
This, in turn, will significantly impact the excipients' demand growth globally. There is a wide scope for growth of the industry in Europe, which includes France, Spain, and Italy. This is due to the rising adoption of advanced drugs in these countries. Moreover, regulatory authorities, such as the European Medicines Agency (EMA) and Medicines & Healthcare Products Regulatory Agency (MHRA), are constantly working toward ensuring high safety standards and easy access to low-cost drugs in this region.
High disposable income, the presence of sophisticated healthcare infrastructure, and a rise in the number of product approvals are the factors expected to create growth opportunities in the Europe region.
Sustained release formulations are designed specifically in ways to reduce the dosage frequency. Thus, these formulations have high Active Pharmaceutical Ingredient (API) doses, which facilitate the maintenance of desired therapeutic levels. However, drug toxicity resulting from sustained release formulations is difficult to treat due to excess API.
Drug retrieval in these cases becomes difficult as drugs are designed to deliver predetermined amounts at frequent time intervals. These are very rarely seen in sustained release formulations, which may hinder industry growth to a certain extent.
Sustained Release Excipients Market Report Highlights
Global Sustained Release Excipients Market Variables, Trends, & Scope
Market Driver Analysis
Market Restraint Analysis
Market Challenge Analysis
Key Opportunities
Sustained Release Excipients Market - PESTLE analysis
Industry Analysis - Porter's
Major Deals and Strategic Alliances Analysis
Covid-19 Impact Analysis
Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/ib1544
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KEYWORD:
INDUSTRY KEYWORD: GENERAL HEALTH PHARMACEUTICAL HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/28/2022 12:21 PM/DISC: 10/28/2022 12:21 PM
http://www.businesswire.com/news/home/20221028005412/en