Sustained Release Excipients Market Growth & Trends
The global sustained release excipients market size is expected to reach USD 2.4 billion by 2030, registering a CAGR of 8.22% over the forecast period, according to a new report by Grand View Research, Inc. 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.
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Sustained Release Excipients Market Report Highlights
- The polymers product segment accounted for the largest share in 2021. Varied usage of polymers in sustained release formulations is anticipated to fuel industry growth
- Conventional use of the oral route of delivery has contributed to the segment's growth. Convenience, in terms of storage, premeasured doses, portability, and noninvasive nature of this route are some of the major factors accelerating its adoption
- The rising adoption of transdermal patches has contributed to the growth of the segment
- Targeted drug delivery constituted the largest revenue share in 2021, as a large number of industry players have strong product portfolios. Implantable sustained release drug delivery systems have improved efficiency, lower adverse effects, and higher convenience, which impels segment growth
- Europe dominated the global industry in 2021 due to the high investments in R&D and availability of highly sophisticated technologies in the region
- Asia Pacific will register the fastest CAGR during the forecast period due to the growing pharmaceutical industry in emerging countries, such as India and China
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Sustained Release Excipients Market Segmentation
Grand View Research has segmented the global sustained release excipients market based on product, route of administration, technology, and region:
Sustained Release Excipients Product Outlook (Revenue, USD Million, 2018 - 2030)
- Gelatin
- Polymers
- Minerals
- Sugars
- Alcohol
- Chitosan
Sustained Release Excipients Route Of Administration Outlook (Revenue, USD Million, 2018 - 2030)
- Oral
- Intramuscular
- Subcutaneous
- Transdermal
- Vaginal
- Ophthalmic
- Intravenous
- Other Route of Administrations
Sustained Release Excipients Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Targeted Delivery
- Micro Encapsulation
- Wurster Technique
- Transdermal
- Implants
- Coacervation
- Others
Sustained Release Excipients Regional Scope Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- US.
- Canada
- Europe
- UK.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key Players of Sustained Release Excipients Market
- BASF
- International Flavors & Fragrances, Inc.
- Ashland Global
- Evonik Industries
- Croda International Plc
- Gattefossé
- Merck KGaA
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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