The global oral solid dosage pharmaceutical formulation market is poised for substantial growth, projected to reach USD 6,29,582.6 million by 2024 and anticipated to further expand to USD 8,95,636.0 million by 2034. This growth trajectory reflects a steady compound annual growth rate (CAGR) at a 3.7% from 2024 to 2034, driven by advancements in drug discovery and an increasing number of medication pipelines.
The market’s expansion is underpinned by the pending approvals of numerous oral solid medications, which promise enhanced efficacy and broader treatment options for patients worldwide. As research institutes and organizations intensify their efforts in drug development, pharmaceutical manufacturers are positioned to capitalize on the burgeoning demand for these formulations.
Regulatory bodies closely monitor the pharmaceutical sector to guarantee the efficacy and safety of drugs. Extended and complicated approval processes delay product releases, raise development costs, and make it challenging for new oral solid dosage pharmaceutical formulation vendors to enter the market. In the oral solid dosage pharmaceutical formulation industry, meeting these strict regulatory criteria continues to be a major difficulty.
Regional Outlook:
The pharmaceutical sector in Asia Pacific is expanding quickly, spurred by rising healthcare costs and a growing demand for reasonably priced drugs.
In Europe, the growth of oral solid dosage pharmaceutical formulations is influenced by a growing emphasis on patient-centric methods and customized therapy.
The region is witnessing increased availability of over-the-counter (OTC) medications and generic substitution, making oral solid dosage pharmaceuticals cheaper and easier for consumers.
“Oral solid dosage pharmaceutical formulation is predicted to evolve progressively due to rising demand for accurate and convenient drug delivery. The oral solid dosage pharmaceutical formulation industry has an optimistic outlook due to patient compliance, growing pharmaceutical sectors, and technological improvements”, comments an FMI analyst.
Key Takeaways:
- In the drug release mechanism category, the immediate release segment to acquire a market share of 43.3% in 2024.
- The tablets segment in the dosage form category to grab a share of 48.9% in 2024.
- China oral solid dosage pharmaceutical formulation sales are expected to surge at a CAGR of 7.2% through 2034.
- From 2024 to 2034, the South Korea oral solid dosage pharmaceutical formulation industry is projected to strengthen at a 6.8% CAGR.
- France’s sales of oral solid dosage pharmaceutical formulations anticipate flourishing at a CAGR of 4.6% between 2024 and 2034.
- The Italy oral solid dosage pharmaceutical formulation market is estimated to rise at a CAGR of 3.8% until 2034.
- Between 2024 and 2034, the Japan oral solid dosage pharmaceutical formulation industry is projected to evolve at a CAGR of 3.3%.
- The Canada oral solid dosage pharmaceutical formulation market is forecast to rise at a CAGR of 2.8% until 2034.
- The Spain oral solid dosage pharmaceutical formulation industry is expected to evolve at a CAGR of 2.7% between 2024 and 2034.
- The United Kingdom sales of oral solid dosage pharmaceutical formulations is projected to experience expansion at a CAGR of 2.1% through 2034.
- Through 2034, the United States oral solid dosage pharmaceutical formulation market is expected to expand at a CAGR of 1.7%.
- The Germany oral solid dosage pharmaceutical formulation industry is projected to exhibit a CAGR of 1.6% between 2024 and 2034.
Competitive Landscape:
The oral solid dosage pharmaceutical formulation manufacturers are purchasing a range of strategic initiatives to improve their market position and expand their service offerings internationally. The oral solid dosage pharmaceutical formulation vendors frequently use acquisitions, partnerships, expansion, cooperation, and service launches to boost market presence and revenue and obtain a competitive edge.
Novel Developments:
- A formal merger agreement between Turning Point Therapeutics and Bristol Myers Squibb was announced in June 2022. The acquisition of Turning Point Therapeutics expanded BMS’s oncology drug portfolio, as the latter is a precision oncology company in the clinical stages.
- AstraZeneca released The Evusheld long-acting antibody combination to the public in March 2022. It had been approved in Europe for the large-scale pre-exposure prophylaxis (prevention) of COVID-19.
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Key Companies Profiled:
- AstraZeneca Plc.
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- Gilead Sciences
- Merck and Co. Inc
- Novartis AG
- Pfizer Inc.
- AbbVie Inc.
- Boehringer Ingelheim GmbH
- F. Hoffman-La-Roche Ltd.
- Johnson and Johnson
- Biogen Inc.
- Bayer AG
- Teva Pharmaceuticals
- Amgen Inc.
- Takeda Pharmaceutical Company Ltd.
- Otsuka Pharmaceutical Co., Ltd.
- Shire Plc.
- Celgene Corporation
- Astellas Pharma Inc.
Key Segments:
By Dosage Form:
- Tablets
- Conventional/Immediate Release
- Modified Release
- Chewable Tablets
- Effervescent Tablets
- Capsules
- Hard Gelatin Capsules
- Soft Gelatin Capsules
- Others
- Powders and Granules
- Lozenges and Pastilles
- Gummies
By Drug Release Mechanism:
- Immediate Release
- Delayed Release
- Controlled Release
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
- Hypermarkets/Supermarkets
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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