The Impact Of COVID-19 Pandemic On the Extended-Release Drugs Market Insights – Industry Trends, Overview, Competitive Players & Forecast 2024


As per the research conducted by Fast. MR, the report titled “Extended-Release Drugs Market By Dosage Form (Tablet, Capsule and Injection), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – Global Market Size, Development, Growth and Demand Forecast, 2014-2024” provides current as well as future analysis of the market by evaluating the major applications, advantages, trends, and challenges. The report dives deeper to produce useful insights into Extended-Release Drugs Market such as major global regions and key competitors and strategies that can be used for the entry-level player too.

Overview

Extended-release drugs offer some potential advantages over other medicines, as it reduces the frequency of dosing by modifying the rate of drug absorption. Thus, extended-release drugs enable higher doses to be given less frequently with less fluctuation in blood concentrations and also results in improved patient compliance. According to National Center for Biotechnology Information, 2018, chronic diseases are among the most prevalent and costly health conditions in the U.S. Nearly half (approximately 45%, or 133 million) of all Americans suffer from at least one chronic disease and the number is growing. Chronic diseases, including cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases, have remained the top chronic diseases during the past decade. Thus, the introduction of novel drugs to meet the demand of the population living with chronic diseases is expected to propel the market growth.

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An increase in the prevalence of HIV infections is expected to propel the extended-release drugs market growth.

The pharmaceutical industry has experienced losing the patents of several blockbuster drugs from past years, which results in dipping their revenue. Thus, pharmaceutical manufacturers are focusing on extending their patent lives through the development of new formulation technologies, which can enhance their product efficacy, patient compliance, rather than launching new chemical entities (NCEs). Such formulation technologies involve complex dosage forms such as transdermal, transmucosal, and other novel formulations for oral delivery.

For instance in September 2018, Teva Pharmaceutical Industries Ltd. launched generic version of Cialis (tadalafil extended-release tablets) for sexual dysfunction treatment in the U.S. Teva has secured fist-to-file status for generic Cialis which will grant them 180 days of market exclusivity for Cialis in U.S., thus, extended exclusivity enable the company to leverage the profits from Cialis. However, several other generics makers, including Aurobindo, Watson, and Sun Pharma, are also looking to launch the generic version of Cialis after Teva’s exclusivity period ends, which will contribute to the extended-release drugs market growth.

The funding for pharmaceutical research and development has doubled in the past 20 years, which accelerates the growth of the novel extended-release drug delivery systems. In September 2019, Dr. Reddy’s Laboratories launched 150 mg dosage strength of bupropion hydrochloride extended-release tablets indicated as an aid to smoking cessation treatment in U.S. The bupropion hydrochloride extended-release tablets is a generic version of Zyban extended-release tablets (by GSK).

On the flip side, the cost of extended-release drug hampers the market growth to some extent. Namenda extended-release drugs cost around US$ 494 for 7mg, which made it difficult for the affected population to purchase.

Extended-Release Drugs Market Regional Analysis

Based on the region, North America is expected to show a leading position in the extended-release drugs market. This is owing to an increasing focus on innovation and the development of novel therapeutics. In February 2018, Lupin Limited launched Ranolazine extended-release (E.R.) tablets in strengths of 500 mg and 1,000 mg, indicated for the treatment of chronic angina, in the U.S. market. Ranolazine is a generic version of Gilead Sciences’ Ranexa ER tablets. Such launch of generics with high quality and at low prices will bring significant savings to U.S. consumers.

The Asia Pacific also contributes remarkable growth in extended-release drugs market owing to increasing the prevalence of chronic diseases such as cancer, COPD, diabetes, etc. and significant measures by the government to support research and development of novel drugs in the market.

In April 2018, the China Drug Administration (CDA) released a draft guideline wherein they proposed additional data exclusivity periods for orphan drugs, pediatric drugs, therapeutic biological products, and first generics. They also offered that the data exclusivity period is available to new drugs filed in China within one year after approval in the E.U., U.S., or Japan. Such guidelines aim to encourage pharmaceutical and biotechnology companies to conduct clinical trials in China.

Key players operating in the extended-release drugs markets include Pfizer, Mallinckrodt, Lupin Limited, Actavis, Janssen Pharmaceuticals, Dr. Reddy’s Laboratories, Teva Pharmaceutical Industries Ltd., Endo Pharmaceuticals, Purdue Pharma, Lannett Company, Inc., Lavipharm Labs, Mylan Technologies, DURECT Corporation, Aveva, Watson, Impax, ANI Pharmaceuticals, Inc., Ranbaxy and others.

Extended-Release Drugs Market-Taxonomy

By Dosage Form

-Tablet

-Capsule

-Injection

By Distribution Channel

-Hospital Pharmacies

-Retail Pharmacies

-Online Pharmacies

By Region

-North America

-Europe

-Asia Pacific

-Latin America

-Middle East and Africa

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