PUBLISHER: SkyQuest | PRODUCT CODE: 1441309
PUBLISHER: SkyQuest | PRODUCT CODE: 1441309
Global Sustained Release Excipients Market size was valued at USD 1.26 billion in 2022 and is poised to grow from USD 1.37 billion in 2023 to USD 2.60 billion by 2031, growing at a CAGR of 8.4% in the forecast period (2024-2031).
The global sustained release excipients market was experiencing steady growth and is expected to continue expanding in the coming years. Sustained release excipients are crucial components in drug formulations designed to release active ingredients gradually over an extended period, thereby improving patient compliance and therapeutic outcomes. The market is driven by several factors, including the rising prevalence of chronic diseases, increasing demand for innovative drug delivery systems, and growing investment in pharmaceutical research and development. Additionally, the aging population and the subsequent surge in demand for long-acting medications further fuel market growth. Various excipients are utilized in sustained release formulations, including polymers, lipids, and hydrogels, among others. Polymers such as ethylcellulose, hydroxypropyl methylcellulose (HPMC), and poly (lactic-co-glycolic acid) (PLGA) are particularly prominent due to their biocompatibility, controlled release properties, and versatility in formulation.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Sustained Release Excipients Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Sustained Release Excipients Market Segmental Analysis
Based on product type the market is segmented as Gelatin, Polymers, Minerals, Sugars, and Others. On the basis of route of administration the market is segmented as Oral, Intramuscular, Subcutaneous, Transdermal, Intravenous, and Other Routes of Administration. Based on technology, it is segregated into Targeted Delivery, Microencapsulation, Wurster Technique, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drivers of the Global Sustained Release Excipients Market
One key market driver propelling the growth of the sustained release excipients market is the rising geriatric population worldwide. With aging populations, there is a higher incidence of chronic diseases such as cardiovascular disorders, diabetes, and neurological conditions, necessitating long-term medication regimens. Sustained release formulations offer advantages in terms of improved patient compliance, reduced side effects, and enhanced therapeutic outcomes by maintaining consistent drug levels in the body over an extended period. Consequently, pharmaceutical manufacturers are increasingly incorporating sustained release excipients into their formulations to cater to the needs of the aging population, thereby driving market expansion.
Restraints in the Global Sustained Release Excipients Market
However, despite the promising growth prospects, the sustained release excipients market faces certain restraints that may hinder its growth trajectory. One notable challenge is the stringent regulatory requirements governing the approval and commercialization of sustained release formulations. Regulatory agencies impose rigorous standards for the safety, efficacy, and quality of pharmaceutical products, including those utilizing sustained release technologies. Meeting these regulatory guidelines demands substantial investments in research, development, and manufacturing capabilities, which can pose barriers to entry for smaller players and startups. Moreover, delays in regulatory approvals can prolong the time to market, impacting product launch timelines and revenue generation potential for companies operating in this space.
Market Trends of the Global Sustained Release Excipients Market
In terms of trends, there is a growing emphasis on the development of innovative sustained release excipients to address evolving market needs and enhance product performance. Manufacturers are investing in advanced formulation technologies and excipient materials to achieve optimized drug release profiles, improved bioavailability, and enhanced stability of pharmaceutical formulations. Additionally, there is increasing adoption of multifunctional excipients capable of providing additional functionalities such as taste masking, moisture protection, and modified release kinetics. Furthermore, strategic collaborations and partnerships between pharmaceutical companies and excipient suppliers are on the rise to leverage combined expertise and resources for product development and commercialization, thereby driving innovation and market growth in the sustained release excipients segment.