The global Sustained Release Excipients Market size is expected to reach USD 1.6 billion by 2026 at a 7.1% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Increasing focus on novel drug delivery R&D and rising adoption of extended release formulations for treatment of chronic diseases are major factors driving the market.
Use
of sustained release drug formulations provides patients relief from these
symptoms and helps maintain desired therapeutic drug levels in the body. In
comparison to conventional drugs, sustained drug release technologies provide a
wide range of benefits. Reduced dosage frequency, improved patient compliance,
maintenance of 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 this technology.
Global
rise in incidence of chronic and infectious diseases has also resulted in
antibiotic resistance, which negatively affects the market for conventional
dosage forms. Thus, alternative methods to manage and treat these diseases are
being implemented. Use of sustained release formulations has been widely
accepted among physicians in order to combat antibiotic resistance. Since these
formulations create desired therapeutic drug levels in blood plasma and reduce
dosage frequency, they are the preferred choice of formulation among
physicians, which increases their demand.
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Further key findings from the report suggest:
- Polymers
formed the largest revenue grossing segment by product type in 2017 and is
anticipated to grow at a lucrative rate during the forecast period. This is
due to its high adoption in sustained release formulations as they provide
greater strength and improved shelf-life
- In terms of
route of administration, the oral segment held the dominant share in 2017
and is projected to witness steady growth to retain its lead throughout
the forecast period
- Transdermal
technology is expected to exhibit the highest CAGR during the forecast
period owing to its escalating usage. It minimizes various limitations
associated with oral and parenteral route of administrations
- North
America dominated the overall market in 2017 due to well-developed
research infrastructure and presence of leading pharmaceutical and
biopharmaceutical companies
- Asia Pacific
is spearheading revenue growth, with Japan, China, and India at the
forefront
- Some of the
key companies in the market are Coating Place, Inc.; Depomed, Inc.; Corium
International, Inc.; Capsugel; Aradigm Corporation; Orbis Biosciences,
Inc.; and Alkermes plc.
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headquartered in San Francisco. The company provides syndicated research
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studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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