Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Global Pharmaceutical Pellets Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical pellets market is on the cusp of substantial expansion, with a projected increase from $1.48 billion in 2022 to $1.66 billion in 2023, representing a compound annual growth rate (CAGR) of 12.3%. Furthermore, the pharmaceutical pellets market is anticipated to reach $2.54 billion by 2027, with a CAGR of 11.2%. This steady growth can be attributed to several key factors that are shaping the industry's landscape.
Rising Prevalence of Chronic Diseases Driving Market Growth
One of the driving forces behind the pharmaceutical pellets market's growth is the escalating prevalence of chronic diseases. Chronic diseases, characterized by lasting for a year or longer and necessitating ongoing medical care while restricting daily activities, are becoming increasingly common. Pharmaceutical pellets have emerged as a promising solution for the treatment of chronic diseases, thanks to their ability to reduce digestive issues and enhance drug absorption.
For instance, according to data from the National Center for Biotechnology Information (NCBI), the number of individuals aged 50 years and older with at least one chronic illness is projected to surge by 99.5% by 2050, increasing from 71.522 million in 2020 to a staggering 142.66 million. This demographic shift underscores the critical role pharmaceutical pellets will play in managing chronic conditions, further fueling the market's growth.
Product Innovation as a Key Trend
In addition to the growing demand driven by the prevalence of chronic diseases, the pharmaceutical pellets market is experiencing a surge in product innovation. Market players are actively investing in the development of innovative products to maintain their competitive edge. This trend has led to groundbreaking advancements in the field.
For example, in June 2021, Gilead Sciences Inc., a leading US-based biopharmaceutical company, received approval from the U.S. Food and Drug Administration for the oral pellet version of Epclusa. This innovative formulation is designed for children with chronic hepatitis C infection and offers improved tolerability and palatability. Administered once a day with food, these oral pellets represent a significant leap forward in pharmaceutical technology.
Regional Insights: North America Dominates, Asia-Pacific on the Rise
In terms of regional presence, North America emerged as the largest market for pharmaceutical pellets in 2022. However, Asia-Pacific is expected to be the fastest-growing region in the coming years. The geographical scope of the pharmaceutical pellets market includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa. Key countries encompassed within the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA, Italy, Spain, and Canada.
Key Players Shaping the Market Landscape
The pharmaceutical pellets market is marked by the presence of several major players who exert a significant influence on its trajectory. Notable companies in this market include:
- Abbott Laboratories
- Takeda
- Boehringer Ingelheim
- Teva Pharmaceutical Industries Ltd.
- Eisai Co. Ltd.
- Colorcon Inc.
- Nordic Sugar AB
- Pfizer
- Merck & Co.
- Manus Aktteva Biopharma L.L.P.
- Thexa Pharma (P) Limited
- Avanscure Lifesciences Private Limited
- U.K. Vet Chem
- MB Sugars & Pharmaceuticals Limited
- CIL Laboratories Pvt. Ltd.
- Sainor Pharma Pvt. Ltd.
- Umang Pharmatech Pvt Ltd.
- Nami Lifesciences Pvt. Ltd.
- Lograns Pharma Private Limited
- Rainbow Health Care Products
- Chemit Laboratories
- Concord Drugs Limited
- Pharmaceuticals Private Limited
- Nanjing Joyfulchem Co. Ltd.
- Praful International Corporation
- Pellets Pharma Limited
- A B Enterprises
- Vision Pharmacoat Pvt. Ltd.
- Chemit Laboratories
- Spansules Pharma
- Ravoos Laboratories Ltd.
Advent International's Strategic Acquisition
In a strategic move to bolster its presence in the healthcare sector, Advent International, a US-based private equity company, acquired RA Chem Pharma Ltd. from Micro Lab Ltd. in July 2020. This acquisition, carried out for an undisclosed amount, played a pivotal role in Advent International's efforts to strengthen its foothold in the healthcare industry. RA Chem Pharma, based in India, specializes in the manufacture of active pharmaceutical ingredients and pellets.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023-2027 |
| Estimated Market Value (USD) in 2023 | $1.66 Billion |
| Forecasted Market Value (USD) by 2027 | $2.54 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
Key Topics Covered
1. Executive Summary
2. Pharmaceutical Pellets Market Characteristics
3. Pharmaceutical Pellets Market Trends and Strategies
4. Pharmaceutical Pellets Market - Macro Economic Scenario
4.1. Impact of High Inflation on Online Therapy Services Market
4.2. Ukraine-Russia War Impact on Online Therapy Services Market
4.3. COVID-19 Impact on Online Therapy Services Market
5.1. Global Pharmaceutical Pellets Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
5.2. Global Pharmaceutical Pellets Forecast Market Size and Growth, 2022 - 2027, 2032F, Value ($ Billion)
5.3. Global Pharmaceutical Pellets Market Drivers and Restraints
5.3.1. Drivers of the Market
5.3.2. Restraints of the Market
6. Pharmaceutical Pellets Market Segmentation
6.1. Global Pharmaceutical Pellets Market, Segmentation by Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Extrusion
- Fluid Bed Granulation
- Dry Powder Layering
- Solution and Suspension Layering
- Spray Congealing
- Spray Drying
6.2. Global Pharmaceutical Pellets Market, Segmentation by Mechanism of Action, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Diffusion
- Erosion
- Osmosis
6.3. Global Pharmaceutical Pellets Market, Segmentation by Technique, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Direct
- Melt
- Wet
- Dry
6.4. Global Pharmaceutical Pellets Market, Segmentation by End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Pharmaceutical
- Nutraceutical
7. Pharmaceutical Pellets Market Regional and Country Analysis
7.1. Global Pharmaceutical Pellets Market, Split by Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Pharmaceutical Pellets Market, Split by Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/jyxi3n
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