Extended-Release Drugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Extended-Release Drugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 5, 2024 /EINPresswire.com/ -- The extended-release drugs market has experienced robust growth in recent years, expanding from $57.11 billion in 2023 to $63.82 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to patient compliance improvement, chronic disease prevalence, improved efficacy, patent protection strategy, biodegradable implants.

Strong Future Growth Anticipated
The extended-release drugs market is projected to grow strongly, reaching $99.77 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to personalized medicine approaches, patient-centric drug development, rising incidence of lifestyle diseases, drug repurposing, global access to extended-release therapies.

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Growth Driver Of The Extended-Release Drugs Market
The increasing incidence of chronic conditions is expected to propel the growth of the extended-release drug market going forward. Chronic conditions are defined as conditions that last for a year or longer and necessitate continuing medical care, restricting everyday activities, or both. Heart disease, cancer, obesity, and diabetes are a few examples. Extended-release drug delivery systems are designed to provide a relatively constant level of medication in the body over a long period. It helps maintain a consistent therapeutic effect and avoids the fluctuations in drug levels that can occur with immediate-release medications.

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Major Players And Market Trends
Key players 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.

Product innovation is a key trend gaining popularity in the extended-release drug market. Major companies operating in the extended-release drug market are developing innovative products to sustain their position in the market.

Extended-Release Drugs Market Segments:
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

Geographical Insights: North America Leading The Market
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

Extended-Release Drugs Market Definition
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.

Extended-Release Drugs Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Extended-Release Drugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on extended-release drugs market size, extended-release drugs market drivers and trends, extended-release drugs market major players, extended-release drugs competitors' revenues, extended-release drugs market positioning, and extended-release drugs market growth across geographies. The extended-release drugs market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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