Extended-Release Drugs Global Market Report 2024

The extended-release drugs market size has grown rapidly in recent years. It will grow from $57.11 billion in 2023 to $63.82 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The expansion observed in the historical period can be attributed to factors such as improvements in patient compliance, the prevalence of chronic diseases, enhanced efficacy, strategic use of patent protection, and the utilization of biodegradable implants.

The extended-release drugs market size is expected to see rapid growth in the next few years. It will grow to $99.77 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The anticipated growth in the forecast period can be attributed to personalized medicine approaches, a focus on patient-centric drug development, the rising incidence of lifestyle diseases, drug repurposing, and the global access to extended-release therapies. Major trends in the forecast period include pharmaceutical innovation, advancements in drug delivery systems, progress in nanotechnology, the utilization of 3D printing in drug formulations, the integration of artificial intelligence, and an increasing emphasis on environmental sustainability.

The anticipated rise in the incidence of chronic conditions is poised to drive the growth of the extended-release drug market. Chronic conditions are characterized by lasting a year or longer and requiring ongoing medical care, impacting everyday activities. Heart disease, cancer, obesity, and diabetes are examples of such conditions. Extended-release drug delivery systems are specifically designed to maintain a consistent medication level in the body over an extended period, ensuring a steady therapeutic effect and minimizing fluctuations in drug levels that can occur with immediate-release medications. As per projections from the National Center for Biotechnology Information (NCBI) in January 2023, the number of individuals aged 50 years and older with at least one chronic illness is expected to surge by 99.5% by the year 2050, reaching 142.66 million. Thus, the increasing incidence of chronic conditions is a significant driver of the extended-release drug market's growth.

The growing demand within the pharmaceutical industry is anticipated to fuel the expansion of the extended-release drugs market. The pharmaceutical industry, which concentrates on the discovery, development, production, and marketing of drugs and medications, is witnessing increased adoption of extended-release drugs. These drugs contribute to improved patient compliance, enhanced therapeutic outcomes, reduced administration frequency, steady drug levels in the bloodstream, minimized side effects, reduced symptom fluctuations, and an overall enhanced pharmaceutical experience. In June 2023, the European Federation of Pharmaceutical Industries and Associations (EFPIA) reported that the total pharmaceutical production in Europe reached $384,200 million (€340,000 million) in 2022, marking a 4.95% increase from the previous year. The rising demand in the pharmaceutical industry is thereby propelling the extended-release drugs market.

A key trend gaining momentum in the extended-release drug market is product innovation. Major companies operating in this market are focusing on developing innovative products to maintain their market position. For example, in July 2022, Zydus Pharmaceuticals (USA) Inc., a US-based generic pharmaceutical manufacturer, introduced Topiramate extended-release capsules for epilepsy. The US Food and Drug Administration (USFDA) had previously approved the company to commercialize these capsules, making it the first business in the country to receive final approval for and launch Topiramate extended-release capsules. These capsules are approved for individuals with partial onset or primary generalized tonic-clonic seizures. Product innovation remains a crucial strategy for companies in the extended-release drug market.

Major companies in the extended-release drugs market are also innovating by developing new products such as next-generation extended-release tablets to enhance their product offerings and gain a competitive edge. Extended-release tablets are a specific pharmaceutical formulation designed to release active ingredients gradually over an extended period. In February 2023, Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, received approval from the U.S. Food and Drug Administration (FDA) for Austedo XR (deutetrabenazine). This extended-release tablet is recommended for treating adults with chorea and tardive dyskinesia related to Huntington's disease. With dosages available in 6, 12, and 24 mg, Austedo XR provides a once-daily administration option, offering an efficient treatment alternative for patients with certain movement disorders. Such developments in next-generation extended-release tablets signify significant progress in managing movement disorders.

In March 2022, Pfizer Inc., a US-based pharmaceutical and biotechnology corporation, completed the acquisition of Arena Pharmaceuticals for approximately $6.7 billion. This strategic acquisition grants Pfizer access to a portfolio of promising development-stage pharmaceutical prospects from Arena Pharmaceuticals, particularly in cardiology, dermatology, and gastroenterology. Arena Pharmaceuticals, a US-based biopharmaceutical company, specializes in small-molecule extended-release medications under development for potential clinical use in various therapeutic fields.

Major companies operating in the extended-release drugs market report are 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.

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. 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.

The main types of extended-release drugs include sustained-release drugs and controlled-release drugs. Sustained-release drugs are medications intended to slowly release in the body over time, primarily to maintain therapeutic levels. These drugs are available in both over-the-counter and prescription forms and are distributed through various channels, including hospital pharmacies, retail pharmacies, mail-order pharmacies, and drug store channels.

The extended-release drugs research report is one of a series of new reports that provides extended-release drugs market statistics, including the extended-release drugs industry's global market size, regional shares, competitors with extended-release drugs market share, detailed extended-release drugs market segments, market trends and opportunities, and any further data you may need to thrive in the extended-release drugs industry. This extended-release drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The extended-release drug market consists of sales of extended-release tablets, extended-release capsules, and implants. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.