Sustained Release Excipients Market Size Worth $1.6 Billion By 2026The 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.
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.
Corporate Sales Specialist, USA
Grand View Research, Inc.
For More Info: www.grandviewresearch.com
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