The global oral solid dosage pharmaceutical formulation market is on a robust growth trajectory, with projections indicating an impressive rise from USD 6,29,582.6 million in 2024 to USD 8,95,636.0 million by 2034. This anticipated expansion reflects a steady compound annual growth rate (CAGR) of 3.7% over the next decade, driven by significant advancements in drug discovery and a burgeoning pipeline of new medications.
The market’s growth is fueled by the pending approvals of numerous oral solid medications, which are expected to enhance efficacy and broaden treatment options for patients globally. As research institutes and pharmaceutical organizations intensify their efforts in drug development, the industry is well-positioned to meet the increasing demand for these formulations.
Key Drivers and Challenges:
Advancements in pharmaceutical research and development are catalyzing the growth of the oral solid dosage market. However, the sector faces challenges from extended and complex approval processes imposed by regulatory bodies, which can delay product releases, increase development costs, and create barriers for new market entrants. Meeting stringent regulatory criteria remains a significant hurdle for industry players.
Regional Insights:
The Asia Pacific region is experiencing rapid growth in the pharmaceutical sector, driven by increasing healthcare expenditure and a rising demand for affordable medications. In Europe, the emphasis on patient-centric approaches and personalized therapy is influencing the market positively. The region is also seeing greater availability of over-the-counter (OTC) medications and a shift towards generic substitutions, which are making oral solid dosage pharmaceuticals more accessible and cost-effective for consumers.
Expert Commentary:
“Oral solid dosage pharmaceutical formulation is expected to evolve significantly due to rising demand for accurate and convenient drug delivery methods. The industry outlook remains optimistic, supported by increasing patient compliance, advancements in pharmaceutical technology, and a growing global market,” says an analyst from Future Market Insights (FMI).
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.
Understand the Surge in Oral Solid Dosage Pharmaceutical Formulation: Our Comprehensive Report Offers Essential Trends and Insights!
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.
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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