Market Trends of Sustained Release Excipients Industry
This section covers the major market trends shaping the Sustained Release Excipients Market according to our research experts:
Oral Route of Administration Holds Significant Market Share in the Global Sustained Release Excipients Market
Among the various routes of drug delivery, the oral route is the most preferred route. The conventional dosage form offers a few limitations, which could be resolved by modifying the existing dosage form. A sustained and controlled drug delivery system helps in the maintenance of constant plasma drug concentration and retards the release rate of the drug, thereby extending the duration of action. Along with the advantages of these drugs, the ongoing developments and launches are increasing the segment's growth. For instance, in June 2020, Sandoz, a division of Novartis, launched once-daily generic tacrolimus capsules known as Dailiport in the United Kingdom and other European countries. It is indicated for use in adult kidney and liver transplant patients and is available in 0.5 mg, 1 mg, 3 mg, and 5 mg doses.
The increasing launches and collaborations are expected to boost the growth of the segment growth. In January 2022, the Medicines Patent Pool (MPP) announced that it had signed agreements with 27 generic manufacturing companies to manufacture the oral COVID-19 antiviral medication molnupiravir and supply it in 105 low- and middle-income countries. In February 2022, Oakrum Pharma LLC, in collaboration with ANI Pharmaceuticals, announced that the United States Food and Drug Administration (FDA) approved the Abbreviated New Drug Application (ANDA) for a generic version of Cystadane1 (betaine anhydrous for oral solution) Powder in a 180 gm bottle and granted competitive generic therapy (CGT) of 180 days of exclusivity. Such launches increase the sales and manufacture of generic oral goods, thereby boosting the segment's growth. In October 2021, Merck & Co signed a licensing agreement with the United Nations-backed Medicines Patent Pool (MPP) to allow more companies to manufacture generic versions of its experimental oral antiviral COVID-19 treatment. Such collaborations increase the growth of the segment studied.
Thus, owing to the above-mentioned factors, the segment is expected to witness growth during the forecast period.
North America Dominates the Global Sustained Release Excipients Market
North America is expected to hold a major share of the sustained release excipients market during the forecast period. The US extended-release excipients industry is expected to evolve significantly, along with the progress of the pharmaceutical industry, as new active pharmaceutical ingredients are developed and novel technologies are adopted (i.e., novel drug delivery systems). For instance, as per the National Center for Chronic Disease Prevention and Health Promotion (January 2021), six in ten adults in the United States have a chronic disease, and four in ten adults have two or more chronic diseases. These conditions pose around USD 3.8 trillion in healthcare costs to the country's healthcare system every year. Following this trend, innovative multifunctional excipients and specialty blends can be expected to arrive in the market during the forecast period.
In the United States, at the macro-level, the rising global demand for pharmaceuticals has fueled the growth of drug production and, consequently, excipients consumption. For instance, in March 2022, Natco Pharma, along with its marketing partner Arrow International, an affiliate of Israeli-drug maker Teva Pharmaceutical Industries, announced the launch of the first generic version of Celgene's top-selling cancer drug Revlimid (lenalidomide capsules) in the US market. In September 2021, Apotex Inc. launched APO-lenalidomide, a generic form of Revlimid capsules, in Canada to treat multiple myeloma and myelodysplastic syndrome. Such generic product launches increase the growth of the market as generic medicines are comparatively cost-effective. Hence, they are preferred by the end users.
Thus, the abovementioned factors are expected to increase the market's growth.
