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Gastroretentive Drug Delivery Systems Outsourcing Market Share, Growth, Trends And Forecast 2024-2033
Gastroretentive Drug Delivery Systems Outsourcing Market Share
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According to The Business Research Company's, The gastroretentive drug delivery systems outsourcing market size has grown strongly in recent years. It will grow from $1.29 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to the rising incidence of stomach and small intestine disorders, rising drug delivery systems, rising prevalence of gastric cancer, rise in government initiatives, and increase in the number of hospitals.
The gastroretentive drug delivery systems outsourcing market size is expected to see strong growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to increase in the number of ambulatory centers, the focus on patient compliance and convenience, the rising incidence of chronic diseases, increasing personalized medicine, and the growing aging population. Major trends in the forecast period include advancements in polymer science, formulation technologies, bioadhesive systems, novel polymers, drug release modifiers, the development of gastroretentive dosage forms, the integration of digital health technologies, smart gastroretentive systems, and targeted drug delivery.
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Market Drivers and Trends:
Government-Led Diabetes Management Initiatives Fueling Growth In DPP-4 Inhibitors Market
Major companies operating in the gastroretentive drug delivery systems outsourcing market are focused on developing innovative products, such as proton pump inhibitors, to enhance drug delivery efficiency and patient convenience. Proton pump inhibitors (PPIs) are a class of medications commonly used to treat conditions related to excessive stomach acid production. For instance, in March 2021, Xiromed LLC, a US-based pharmaceutical company, launched Omeprazole Delayed Release Capsules, 20mg, a generic version of Prilosec. Prilosec (omeprazole) is a proton pump inhibitor medication used to treat conditions caused by excess stomach acid production. Omeprazole Delayed-Release Capsules offer patients a reliable and visually recognizable dosage form for Omeprazole, a proton pump inhibitor used to treat various gastrointestinal conditions. The specific color and coding of the capsules enhance patient adherence and medication management, ensuring accurate dosing and treatment efficacy.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Sanofi S.A., AstraZeneca plc, Novartis AG, GlaxoSmithKline plc, Evonik Industries AG, Alcon Inc., SGS SA, Lonza Group AG, FMC Corporation, Sun Pharmaceutical Industries Ltd., Catalent Inc., AptarGroup Inc., Cadila Pharmaceuticals, Ashland Global Holdings Inc, Lupin Limited, Torrent Pharmaceuticals Ltd., Evotec SE, Colorcon Inc., Ranbaxy Laboratories Limited, Quotient Sciences Limited, Aenova Group, Vectura Group Ltd., Assertio Therapeutics Inc., Coating Place Inc., Xiromed LLC, SPI Pharma Inc.
Gastroretentive Drug Delivery Systems Outsourcing Market 2024 Key Insights:
• The gastroretentive drug delivery systems outsourcing market size is expected to see strong growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Rising Prevalence Of Gastrointestinal Disorders Drives Growth In Gastroretentive Drug Delivery Systems Outsourcing Market
• Innovative Products Driving Growth In Gastroretentive Drug Delivery Systems Outsourcing Market
• North America was the largest region in the gastroretentive drug delivery systems outsourcing market in 2023
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