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Unveiling Trends in Extended-Release Drugs Market Report for 2023 - Pfizer Inc., AbbVie Inc., Novartis AG, Sanofi SA
Extended-Release Drugs Market
The Business Research Company's Extended-Release Drugs Global Market Report 2023 identifies the increasing incidence of chronic conditions is expected to propel the growth of the extended-release drug market going forward. Chronic conditions are defined as conditions that last for a year or longer and necessitate continuing medical care, restricting everyday activities, or both. Heart disease, cancer, obesity, and diabetes are a few examples. Extended-release drug delivery systems are designed to provide a relatively constant level of medication in the body over a long period. It helps maintain a consistent therapeutic effect and avoids the fluctuations in drug levels that can occur with immediate-release medications.
The global extended-release drugs market is expected to grow from $51.06 billion in 2022 to $57.11 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The extended-release drugs market is expected to reach $88.22 billion in 2027 at a CAGR of 11.5%.
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Major competitors in the extended-release drugs market are Pfizer Inc., AbbVie Inc., Novartis AG, Sanofi SA, GlaxoSmithKline PLC, AstraZeneca Plc, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceuticals Inc., Eastman Chemical Company, Catalent Pharma Solutions Inc., Catalent Pharma Solutions Inc, Sun Pharmaceutical Industries Limited.
A key trend in the extended-release drugs market includes product innovation. Major companies operating in the extended-release drug market are developing innovative products to sustain their position in the market. For instance, in July 2022, Zydus Pharmaceuticals (USA) Inc., a US-based generic pharmaceutical manufacturer, launched Topiramate extended-release capsules for epilepsy. The US Food and Drug Administration (USFDA) has previously approved the company to commercialize Topiramate extended-release capsules, USP 25 mg, 50 mg, and 100 mg. It is the first business in the country to obtain final approval and introduce Topiramate extended-release capsules
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The extended-release drugs market is segmented -
1) By Type: Sustained Release Drug, Controlled Release Drug
2) By Mode: Over-The-Counter, Prescription
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Mail Order Pharmacies, Drug Stores
4) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the extended-release drugs market.
The Business Research Company's "Global Extended-Release Drugs Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Extended-Release Drugs Market Include:
1. Executive Summary
2. Extended-Release Drugs Market Characteristic
3. Extended-Release Drugs Market Trends And Strategies
4. Extended-Release Drugs Market - Macro Economic Scenario
5. Extended-Release Drugs Market Size And Growth
……………
27. Extended-Release Drugs Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Extended-Release Drugs Market
29. Extended-Release Drugs Market Future Outlook And Potential Analysis
30. Appendix
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