Twopip Research

Pharmaceutical Pellets Global Market Report 2024

The pharmaceutical pellets market size has grown rapidly in recent years. It will grow from $1.66 billion in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth observed in the historical period can be attributed to several factors, including the increased prevalence of oral dosage forms, a heightened emphasis on enhancing patient compliance, ongoing pharmaceutical research endeavors, dedicated efforts towards taste-masking and stability improvement, as well as regulatory approvals and patents obtained within the industry. The pharmaceutical pellets market size is expected to see rapid growth in the next few years. It will grow to $2.82 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth in the upcoming period can be linked to several factors, notably the rising need for pediatric dosage forms, a surge in demand for multi-particulate dosage varieties, the innovation of combination therapy dosage types, advancements in continuous manufacturing techniques, and an increased focus on geriatric dosage formulations. Key trends projected for this period encompass the integration of 3D printing technologies, the application of these forms in personalized nutrition, the incorporation of smart coatings for real-time monitoring, the development of orally disintegrating pellets, and the creation of biodegradable and eco-friendly pellets.The rising prevalence of chronic diseases is anticipated to drive the expansion of the pharmaceutical pellets market in the foreseeable future. Chronic diseases, characterized by lasting a year or more and requiring continuous medical attention, significantly impact daily activities. Pharmaceutical pellets prove advantageous for treating chronic conditions by mitigating digestive issues and improving drug absorption. In January 2023, the National Center for Biotechnology Information (NCBI) reported that the number of individuals aged 50 and above with at least one chronic illness is projected to increase by 99.5% by 2050, reaching 142.66 million, up from 71.522 million in 2020. Consequently, the growing prevalence of chronic diseases is a key driver for the pharmaceutical pellets market.The increasing adoption of personalized medicine is set to propel the pharmaceutical pellets market's growth. Personalized medicine, an innovative healthcare approach tailoring treatment to individual patient characteristics, fosters a demand for versatile drug delivery platforms. Pharmaceutical pellets, with their flexibility in achieving tailored release kinetics, emerge as a suitable option. In 2022, the Food and Drug Administration’s Center for Drug Evaluation and Research (CDER) approved 37 new molecular entities (NMEs), with 34% (12 NMEs) classified as personalized medicines by the Personalized Medicine Coalition (PMC). This underscores the market's growth driven by the rising adoption of personalized medicine.The pharmaceutical pellets market is witnessing a prominent trend centered around product innovation. Companies within this sector are actively engaged in developing novel products as a strategic approach to maintain their market positions. An illustrative example is Gilead Sciences Inc., a US-based biopharmaceutical company, which, in June 2021, obtained approval from the U.S. Food and Drug Administration for the oral pellet version of Epclusa. This approval was specifically for the treatment of chronic hepatitis C infection in children. The innovative aspect lies in the administration of these oral pellets once a day with food, aiming to enhance tolerability and palatability.A significant strategy employed by major players in the pharmaceutical pellets market involves forming partnerships to drive product development and fortify market positions. Collaborations and partnerships facilitate the exchange of knowledge, resources, and cutting-edge technologies, fostering the creation of advanced formulations and expanding market presence. A case in point is the collaboration between Mikart LLC, a US-based contract development and manufacturing organization (CDMO), and Fluid Pharma Ltd., a UK-based pharmaceutical company. In October 2022, they joined forces to advance the application of Fluid Pharma's proprietary MicroCoat technology in new therapies. This strategic alliance specifically focuses on enhancing multi-particulate coating services, with a clear emphasis on applications in pediatric, geriatric, and oral liquid modified release formulations. The overarching goal is to improve patient compliance and acceptability of oral drug products, leveraging Mikart's specialized expertise in manufacturing multiparticulate systems, including pellets, micro-pellets, and granules.In March 2023, Colorcon Inc., a leading US-based pharmaceutical film coating company, completed the acquisition of Airnov Healthcare Packaging, a France-based specialist in controlled atmosphere packaging solutions. This strategic acquisition bolsters Colorcon's existing portfolio by integrating essential capabilities in controlled atmosphere packaging, particularly advanced solutions for safeguarding pharmaceutical products against moisture and oxygen. Airnov Healthcare Packaging employs cutting-edge techniques involving active materials, innovative plastic processing, and functional design to deliver tailored products designed to protect pharmaceuticals from the harmful impacts of moisture and oxygen.Major companies operating in the pharmaceutical pellets market report are Abbott Laboratories, Takeda, Boehringer Ingelheim, Teva Pharmaceutical Industries Ltd., Eisai Co. Ltd., Colorcon Inc., Nordic Sugar AB, Pfizer, Merck & Co., Manus Aktteva Biopharma LLP, 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.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 countries covered in the pharmaceutical pellets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.The primary technologies utilized in manufacturing pharmaceutical pellets include extrusion, fluid bed granulation, dry powder layering, solution and suspension layering, spray congealing, and spray drying. Extrusion is a manufacturing process that involves forcing material through a die to create items with a specific cross-sectional profile. Pellets prepared through direct, melt, wet, and dry techniques employ mechanisms such as diffusion, erosion, and osmosis. These pellets find applications across various industries including pharmaceuticals and nutraceuticals.The pharmaceutical pellets market research report is one of a series of new reports that provides pharmaceutical pellets market statistics, including pharmaceutical pellets industry global market size, regional shares, competitors with a pharmaceutical pellets market share, detailed pharmaceutical pellets market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical pellets industry. This pharmaceutical pellet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.The pharmaceutical pellets market consists of revenues earned by entities by providing services such as formulation development, manufacturing and production, customization, and tailoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The pharmaceutical pellets market also includes sales of granulated ltraconazole pellets and Rabeprazole pellets. 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.This product will be delivered within 3-5 business days.