Sales in the extended release drugs market are expected to rise at a CAGR of 11% over the forecast period 2022 to 2032. Extended-release drugs market is currently valued at USD 48 Billion.
Due to changes in prescription patterns and rising acceptance of diverse dosage forms, demand for extended-release drugs is anticipated to bolster in the forthcoming years.
| Report Attribute | Details |
|---|---|
| Extended Release Drugs Market Size (2022) | USD 48 Billion |
| Extended Release Drugs Market Projected Growth Rate (2022 to 2032) | 11% CAGR |
Conventional drugs release the active ingredient as soon as they are administered. Drug delivery systems are planned technologies that deliver the active ingredient in a controlled environment, controlling the time, rate, and area of drug release in the body. These systems have been proven to be safe and efficient.
Extended-release drugs are a dosage formulation that reduces the dosage by half. There are specific regulations released by the FDA that extended release drugs need to comply with.
Growing adoption of various drug delivery systems by doctors and patients, safety and effectiveness of extended drug release, and a reduction in medical care expenditure due to extended-release drugs will create a conducive environment for growth in the market.
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Compared to conventional oral drugs, extended-release drugs are well-planned administration of medication. Extended-release drugs control the time, area, and rate of the dosage, thereby increasing safety and efficacy. With the controlled release of the active ingredient, extended-release drugs also help to reduce the frequency of dosage, resulting in easier and better acceptance by patients as well as increased bioavailability.
Growing demand for pediatric and geriatric extended drug release formulations, widespread acceptance of extended drug release systems, and notable changes in the prescription pattern of doctors will drive the market.
Advancing research & development, ongoing clinical trials in the pharmaceutical sector, and a greater focus on the development of new and innovative therapeutics will further bolster the market for extended drug release.
The cost of extended drug release is a major roadblock for manufacturers. A single unit of extended-release drugs costs double or triple the conventional oral dosage. The price of Namenda's extended-release drug is around USD 494 for 7mg. This is expected to limit sales in the market.
Conventional drugs have an almost immediate impact whereas extended-release drugs take a comparatively long time to make an impact as they have a slower course of action.
Side effects such as dose dumping could seriously affect health, which might hamper the growth of the market.
Dose dumping is the quick release of extended-release drugs in the circulatory system and can lead to toxicity. Refusal of extended-release drugs due to bad taste or swallowing difficulties is another factor that may impede demand in the forthcoming years.
Owing to the introduction of new and innovative therapeutics and their widespread acceptance, North America holds a significant share of the global extended-release drugs market.
The presence of leading pharmaceutical and biopharmaceutical companies, along with increasing investments in research and development in the pharmaceutical sector will propel the growth in the North American extended-release drug market.
The growing burden of chronic diseases and the adoption of extended-release drugs in the treatment of hypertension will further underpin the demand for extended-release drugs.
Increasing adoption of extended-release drugs across countries such as Germany, the United Kingdom, Italy, and France is expected to boost the Europe extended-release market over the assessment period.
The rising incidence of chronic diseases such as COPD, diabetes, and cancer has led to quicker adoption of extended-release drugs. This is expected to create opportunities for extended-release drug manufacturers operating in Europe.
As per FMI, Asia Pacific is predicted to display the highest CAGR during the forecast period. The region has shown great potential in the extended-release drugs market due to the rapid growth of the pharmaceutical industry.
The ongoing expansion of the pharmaceutical and biopharmaceutical sectors across countries including China and India is anticipated to steer sales in the Asia Pacific extended-release drugs market.
Some of the key players in the global extended-release drugs market are Pfizer, Mallinckrodt, Actavis, Janssen Pharmaceuticals, Endo Pharmaceuticals, Purdue Pharma, Lavipharm Labs, Mylan Technologies, Noven, Aveva, Watson, Impax, Ranbaxy.
The global extended-release drug market is highly competitive with leading companies focusing on developing novel therapeutics. Mergers and acquisitions are the go-to strategies adopted by key players to expand their product portfolios.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR 11% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Drug Release, Distribution Channel, Region |
| Countries Covered | North America (USA, Canada); Latin America (Mexico, Brazil); Western Europe (Germany, Italy, France, United Kingdom, Spain, Nordic countries, Belgium, Netherlands, Luxembourg); Eastern Europe (Poland, Russia); Asia-Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand); Japan; The Middle East and Africa (GCC, S. Africa, N. Africa) |
| Key Companies Profiled | Pfizer; Mallinckrodt; Actavis; Janssen Pharmaceuticals; Endo Pharmaceuticals; Purdue Pharma; Lavipharm Labs; Mylan Technologies; Noven; Aveva; Watson; Impax; Ranbaxy |
| Customization | Available Upon Request |
Due to the rapid growth of the pharmaceutical industry, especially in India and China, Asia Pacific is expected to emerge as an attractive market for extended-release drugs.
Leading players present in the global extended-release drug market include Pfizer, Mallinckrodt, Actavis, Janssen Pharmaceuticals, Endo Pharmaceuticals, Purdue Pharma, Lavipharm Labs, Mylan Technologies, Noven, Aveva, Watson, Impax, and Ranbaxy.
Rising demand for pediatric and geriatric extended-drug-release formulations and ongoing clinical trials in the pharmaceutical sector are some trends that are expected to drive sales of extended-release drugs.
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Extended Release Drugs Market
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