Global Extended Release Drugs Market Outlook 2024, Forecast To 2033
8 Mar, 2024
The extended-release drugs market escalated from $57.11 billion in 2023 to $63.82 billion in 2024, with a CAGR of 11.7%. Estimated to grow to $99.77 billion in 2028, driven by personalized medicine and drug repurposing.
Global Extended Release Drugs Market Key Driver
The extended-release drug market is set to expand due to the increasing incidence of chronic conditions. By 2050, the number of individuals aged 50 and older with chronic illnesses is projected to surge by 99.5%. This rise in chronic conditions drives the demand for extended-release drug delivery systems, offering consistent therapeutic effects. Thus, the market for extended-release drugs grows in response to chronic disease prevalence.
Get A Free Sample Of The Global Extended Release Drugs Market ReportGlobal Extended Release Drugs Market Segments
The extended-release drugs market covered in this report is segmented –
1) Type:Sustained Release Drug, Controlled Release Drug
2) Mode:Over-The-Counter, Prescription
3) Distribution Channel:Hospital Pharmacies, Retail Pharmacies, Mail Order Pharmacies, Drug Stores
By Geography: The countries covered in the extended-release drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the extended-release drugs market in 2023. 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
Major Extended Release Drugs Industry Players
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; Purdue Pharma LP; Amneal Pharmaceuticals Inc.; Endo Pharmaceuticals Inc.; Mallinckrodt LLC; Allergan plc; AVEVA Group 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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Extended Release Drugs Market Overview
Extended-release drugs are a dosage form made to release the medication over a longer time, at a predetermined rate, duration, and location, in a controlled manner. The drug can be taken less frequently than the immediate release form, and patients may take 1 to 2 doses each day instead of 3 to 4.