The global Drug Formulation market According to forecasts, throughout the forecast period from 2022 to 2032, the demand for drug formulation is anticipated to grow at a strong Compound Annual Growth Rate (CAGR) of 5.6%. By 2022, the drug formulations industry is expected to reach an astounding worth of US$ 1.58 trillion, underscoring the crucial role that formulation science plays in the provision of healthcare.
Oral formulations become a significant growth driver in the context of changing healthcare needs and therapeutic developments; forecasts indicate an exponential rise in this market with a compound annual growth rate (CAGR) of 6.0% over the projected period. Oral formulations comprise a broad spectrum of pharmaceutical items, such as tablets, capsules, liquids, and powders, that provide patients with practical and efficacious treatment alternatives for a myriad of medical ailments.
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In the pharmaceutical business, the global drug formulation market is essential because it makes it easier to convert active pharmaceutical ingredients (APIs) into formed medications that are fit for human consumption. The anticipated growth is a result of improvements in medication formulation technology as well as the rising demand for pharmaceutical products.
Key Takeaways:
- The global drug formulation market is expected to reach US$2.87 trillion by 2032, growing at a CAGR of 5.6%.
- Oral formulations are projected to experience the fastest growth, with a CAGR of 6.0% during the forecast period.
- Rising demand for innovative drug delivery systems and growing healthcare needs worldwide are key drivers.
Competitive Landscape:
In the medication formulation industry, major players are employing methods such as advanced product launches through approvals and mergers and acquisitions. The major businesses are concentrating on working with the research institutes to gain a competitive edge in the marketplace.
- A definitive merger agreement between Bristol Myers Squibb and Turning Point Therapeutics was signed on June 20, 2022. This acquisition will expand BMS’s selection of oncology drugs because Turning Point Therapeutics is a precision oncology company that is still in the clinical development stage.
- AstraZeneca introduced The Evusheld long-acting antibody combo to the public on March 20, 2022. For the pre-exposure prophylaxis (prevention) of COVID-19 in a sizable population, it has received authorization in Europe.
Key Companies Profiled:
- AstraZeneca plc.
- Bristol-Myers Squibb
- Eli Lilly and Company
- Gilead Sciences, Inc.
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- AbbVie Inc.
- Boehringer Ingelheim International GmbH
- F. Hoffmann-La Roche AG
- Johnson & Johnson
- 3M Company
- Bayer AG
- Teva Pharmaceuticals Industries Ltd.
- Amgen, Inc.
- Sanofi SA
- GlaxoSmithKline plc
- Boston Scientific Corporation
- Gerresheimer AG
- Nimbus Therapeutics
- Antares Pharma, Inc.
- IDEAYA Biosciences, Inc.
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Key Market Segments Covered in Drug Formulation Industry Research:
By Dosage Form:
- Oral formulations
- Tablets
- Immediate Release
- Modified Release
- Chewable
- Effervescent
- Capsules
- Hard Gelatin Capsules
- Softgel Capsules
- Others
- Powders & Granules
- Lozenges & Pastilles
- Gummies
- Others
- Tablets
- Parenteral formulations
- Solutions
- Suspensions
- Emulsions for injection or infusion
- Powders for injection or infusion
- Gels for injection implants
- Topical formulations
- Pastes
- Ointments and oils
- Creams, lotions, and foams.
- Gels, tinctures, and powders
- Sprays and patches
- Inhalation formulations
- Pressurized Metered Dose Inhaler
- Dry Powder Inhaler (DPI)
- Nebulizer
By Indication:
- Infectious Diseases
- Cancer
- Cardiovascular Diseases
- Diabetes
- Respiratory Diseases
- Central Nervous System Disorders
- Autoimmune Diseases
- Gastrointestinal Diseases
- Musculoskeletal Disorders
- Dermatological Disorders
- Other
By End User:
- Big pharma
- Small & Medium Size Pharma
- Biotech Companies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
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