Extended Release Drugs: Market Insights
Drug delivery systems are engineered technologies for controlled release of drugs or to the targeted delivery of drugs. Drug delivery system is a kind of formulation that enables the administration of therapeutic agents in the body and improves its safety and efficacy by controlling the time, rate and place of drug release in the body. Most of the conventional oral products of drugs are formulated to release the active ingredient as soon as it is administered. Now the pattern has been changed to modified release dosage forms to achieve better therapeutic target. Extended release drugs is a type of dosage forms which allows a two-fold reduction in frequency of dosage administered in the body. FDA has enabled certain guidelines for the extended release drugs such as notification in changing the safety labelling of extended release drugs.
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Extended Release Drugs: Market Dynamics
Extended release drugs is likely to trigger growth in the market owing to increasing acceptance of different dosage forms, growing pediatric and geriatric population is likely to witness significant growth in the market. Moreover increasing research and development and ongoing clinical trials seems to spur the growth of the extended release drugs market. Also increasing focus in innovation and development of novel therapeutics adds another factor in increasing the growth of the extended release drugs market. However, there are certain limitation that may hamper the growth of the market such as cost of the extended release drugs. For example, Namenda extended release drugs cost around US$ 494 for 7mg. Apart from this, extended release drugs have a have a slower onset of action and may cause potential side effects. All this factors is likely to hamper the growth of the extended release drugs market.
Extended Release Drugs Market: Segmentation
The global extended release drugs market is segmented by drug release types and distributional channel
- Extended Release Drugs Market Segmentation by Drug Release
- Sustained Release
- Controlled Release
- Extended Release Drugs Market Segmentation by Distributional Channel
- Hospital Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
- Drug Stores
Extended Release Drugs Market: Overview
Extended release drugs is expected to anticipate significant growth in the market. Manufacturers are currently focus in developing drugs that actively acts on the target. Various extended release drugs has been approved by FDA for the treatment chronic diseases such as Opana ER by Endo Pharmaceuticals, Nucynta ER by Janssen Pharmaceuticals, Exalgo by Mallinckrodt, Fentanyl by Actavis, Avinza by Pfizer etc. Extended release drugs mostly include special coating that make the drug to stay for a longer period of time. Extended release drugs is mostly used to prevent from chronic pain and other diseases. Thus, with increasing prevalence, the extended release drugs will boost the growth of the market.
Extended Release Drugs: Region-wise Outlook
On the basis of geography, the global extended release drugs market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, and Asia Pacific excluding Japan and Middle East & Africa. North America holds significant revenue share in the extended release drugs market due to rising adoption of novel therapeutics and growing investments in research and development will propel the growth of extended release drugs market. Europe market witness to trigger the growth of the extended release drugs market due to significant rise in prevalence of chronic diseases such as cancer, COPD, diabetes etc. and increasing approval of novel drugs will boost the growth of the extended release drugs market. Asia Pacific also have the potential in fostering the growth of the extended release drugs market due to increasing pharmaceutical companies in development of various diseases. Japan seems to have significant potential to grow in the overall extended release drugs market due to growing number of geriatric population. Middle East & Africa have relatively less growth in extended release drugs market due to lack of investment in research and development and low economy growth which as a result will hinder the growth of the extended release drugs market.
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Extended Release Drugs Market: Key Players
Some of the key players present across the value chain of 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 and others