2024-2033 Pharmaceutical Pellets Market Outlook: Unlocking Growth Potential
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What is the Anticipated CAGR of the Pharmaceutical Pellets Market Over the 2024-2033 Forecast Period?
The market for pharmaceutical pellets has seen a fast-paced growth in recent years. The market is projected to expand from $1.66 billion in 2023 to $1.86 billion in 2024, experiencing a compound annual growth rate (CAGR) of 12.1%. The historic growth trend is attributable to an increase in oral dosage forms, emphasis on patient compliance, initiatives in pharmaceutical research, endeavors to improve taste-masking and stability, regulatory clearances, and patents.
In the upcoming years, the pharmaceutical pellets market is predicted to experience swift expansion, escalating to $2.82 billion in 2028 with a compound annual growth rate (CAGR) of 10.9%. This surge in the predicted timeframe is due to the growing demand for pediatric dosage forms, multi-particulate dosage forms, combination therapy dosage forms, advancements in continuous manufacturing, and a focus on geriatric dosage forms. Noteworthy trends for the forecast period encompass the incorporation of 3D printing technologies, their use in personalized nutrition, intelligent coatings for real-time tracking, orally disintegrating pellets, and biodegradable, environmentally friendly pellets.
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What Are the Driving Forces Behind the Growth of the pharmaceutical pellets Market?
The pharmaceutical pellets market is predicted to expand due to the growing occurrence of chronic diseases. Chronic diseases are characterized as conditions that remain a year or more, necessitating ongoing healthcare and posing potential limits on daily activities. The use of pharmaceutical pellets can prove advantageous for chronic disease treatment as they help in reducing gastrointestinal issues and increasing drug absorption rates. The National Center for Biotechnology Information (NCBI), a division of the US-based National Library of Medicine, reported in January 2023 that by the year 2050, there will be a significant 99.5% increase in the number of individuals over 50 years old suffering from at least one chronic disease. Numbers are expected to climb from approximately 71.522 million in 2020 to 142.66 million. Therefore, the escalating rates of chronic diseases is a primary factor driving the growth of the pharmaceutical pellets market.
What Are the Core Segments of the Pharmaceutical Pellets Market?
1) By Technology: Extrusion, Fluid Bed Granulation, Dry Powder Layering, Solution And Suspension Layering, Spray Congealing, Spray Drying
2) By Mechanism Of Action: Diffusion, Erosion, Osmosis
3) By Technique: Direct, Melt, Wet, Dry
4) By End-User: Pharmaceutical, Nutraceutical
What Are the Key Innovations Reshaping the Pharmaceutical Pellets Market?
The pharmaceutical pellets market is seeing a surge in product innovation, a trend that’s gaining significant traction. Firms in this market are propelling new product innovations to maintain dominance. For instance, Gilead Sciences Inc., a biopharmaceutical entity located in the US, got a green light from the U.S. Food and Drug Administration in June 2021 for its orally administered pellet form of Epclusa, targeted at children with chronic hepatitis C infection. Oral pellets, which are taken once daily with meals, have been introduced to enhance tolerability linked to palatability.
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What Regions Are Influencing the Dynamics of the Pharmaceutical Pellets Market?
North America was the largest region in the pharmaceutical pellets market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical pellets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Pharmaceutical Pellets Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the pharmaceutical pellets market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Pharmaceutical Pellets Market Include
1. Pharmaceutical Pellets Market Executive Summary
2. Pharmaceutical Pellets Market Segments
3. Pharmaceutical Pellets Market Size And Template Market Growth Rate
4. Key Pharmaceutical Pellets Market Trends
5. Major Pharmaceutical Pellets Market Drivers
……
25. Key Mergers And Acquisitions In The Pharmaceutical Pellets Market
26. Top Pharmaceutical Pellets Companies
27. Pharmaceutical Pellets Market Opportunities And Strategies
28. Pharmaceutical Pellets Market, Conclusions And Recommendations
29. Appendix
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