Press release
Extended-Release Drugs Market Set to Reach $113.05 Billion by 2029 with 13% Yearly Growth
Extended-Release Drugs Market
The growth of the extended-release drug market is anticipated to be fueled by the rising prevalence of chronic diseases. These are defined as medical conditions lasting a year or more, necessitating continuous medical care and impeding daily activities. Examples encompass heart disease, cancer, obesity, and diabetes. Extended-release drug delivery systems aim to maintain a steady therapeutic effect by ensuring a nearly constant level of medication in the body over an extended period. This helps avoid fluctuations in drug levels that can follow the use of immediate-release medications. For example, the US-based National Library of Medicine, National Center for Biotechnology Information (NCBI), forecasted in January 2023 that the count of individuals 50 years and older with at least one chronic disease would increase by nearly 99.5%, reaching 142.66 million by 2050. Hence, the rising prevalence of chronic diseases is propelling the expansion of the extended-release drug market.
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What growth opportunities are expected to drive the extended-release drugs market's CAGR through 2034?
The market size for extended-release medications has experienced swift expansion in the latest years. The growth is expected to continue, with the market value expected to rise from $63.11 billion in 2024 to $70.28 billion in 2025-an impressive compound annual growth rate (CAGR) of 11.4%. Factors such as advancements in patient compliance, the incidence of chronic diseases, increased effectiveness, strategic patent protection, and biodegradable implants have propelled the exceptional growth in the historical period.
In the upcoming years, the market size for extended-release drugs is set to experience a swift escalation. The market is anticipated to inflate to $113.05 billion by 2029, with a compound annual growth rate (CAGR) of 12.6%. The proliferation during the forecast period can be credited to factors such as the adoption of personalized medicine strategies, patient-oriented drug evolution, surge in lifestyle diseases, repurposing of drugs, and worldwide accessibility to extended-release treatments. Key trends paving the future include innovation within the pharmaceutical sector, progress in drug delivery systems, enhancement in nanotechnology, the application of 3D printing in drug concoctions, the implementation of artificial intelligence, and commitment to environmental sustainability.
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How are the latest trends influencing the growth of the extended-release drugs market?
Pushing the boundaries in product innovation is becoming a significant trend in the extended-release drug market. Key players in the sector are introducing groundbreaking products to maintain their market prominence. For example, in July 2022, Zydus Pharmaceuticals (USA) Inc., a leading American generic pharmaceutical firm, rolled out Topiramate extended-release capsules for epilepsy. The company has received prior approval from The US Food and Drug Administration (USFDA) to market Topiramate extended-release capsules, USP 25 mg, 50 mg, and 100 mg. They are the first company in the US to secure final permission and launch Topiramate extended-release capsules. These capsules have been authorized in two ways for those who suffer from partial onset or primary generalized tonic-clinic seizure.
Which growth-oriented segments of the extended-release drugs market are leading the industry's development?
The extended-release drugs market covered in this report 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
Subsegments:
1) By Sustained Release Drug: Matrix Systems, Coating Systems
2) By Controlled Release Drug: Osmotic Systems, Microencapsulation Systems, Targeted Delivery Systems
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What regions are leading the charge in the extended-release drugs market?
North America was the largest region in the extended-release drugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the extended-release drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the extended-release drugs market?
Major companies operating in the extended-release drugs market include 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., Sun Pharmaceutical Industries Limited, Purdue Pharma LP, Amneal Pharmaceuticals Inc., Endo Pharmaceuticals Inc., Mallinckrodt LLC, Allergan plc, Hisamitsu Pharmaceutical Co. Inc., Janssen Pharmaceuticals Inc., Noven Pharmaceuticals Inc., Mayne Pharma Group Ltd., Neos Therapeutics Inc., Ardena Holding NV, UPM Pharmaceuticals Inc., Oakwood Laboratories LLC, Roxane Laboratories Inc., Lavipharm Laboratories Inc., Watson Pharmaceuticals Inc.
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What Is Covered In The Extended-Release Drugs Global Market Report?
• Market Size Forecast: Examine the extended-release drugs market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the extended-release drugs market for a structured understanding.
• Key Players Overview: Analyze major players in the extended-release drugs market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the extended-release drugs market.
• Segment Contributions: Evaluate how different segments drive overall growth in the extended-release drugs market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the extended-release drugs market.
• Industry Challenges: Identify potential risks and obstacles affecting the extended-release drugs market.
• Competitive Landscape: Review strategic developments in the extended-release drugs market, including expansions, agreements, and new product launches.
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