Oral Solid Dosage Pharmaceutical Formulation Market
DUBAI, United Arab Emirates, Oct. 12, 2022 (GLOBE NEWSWIRE) — The global oral solid dosage pharmaceutical formulations market demand is expected to grow at a robust CAGR of 6.4% over the assessment period from 2022 to 2032. The global market is expected to touch US$555.3 million by 2022 and exceed a valuation of US$1.0 billion in 2032. According to the studies, on the basis of dosage, the tablet segment has led to the market with a massive share of around 53.1% in 2021.
According to analysis by Future Market Insights, the oral solid dosage pharmaceutical formulations market accounted for approximately 1.4% of the US$40.0 billion global pharmaceutical drug delivery market in 2021. sales of solid-dose pharmaceutical formulations were forecast at a robust 8.1% from 2012 to 2021, attributed to growing adoption and higher patient compliance.
Oral solid doses are one of the most commonly used pharmaceuticals that help treat several chronic diseases. These oral solid dosages enjoy high sales due to their cost-effective nature and are readily available in retail and hospital pharmacies around the world. These dosage forms are easy to manufacture and are available at an affordable price in many underdeveloped countries. This is expected to create lucrative growth prospects for the key players.
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Key points to remember
- Since several institutions and research organizations are engaged in the drug discovery process, there is a massive amount of oral solid drugs being approved with improved efficacy. Once these products are approved, manufacturers should benefit from generating profitable sales. Hence, a positive impact due to the growing number of drug pipelines can be witnessed in the oral solid dosage pharmaceutical formulations market during the forecast period.
- There is an overall increase in the demand for oral solid dosage drugs and vaccines for the treatment of various diseases and infections has also increased across the globe. Hence, leading players in the market are working to develop their own drug manufacturing capabilities in low and medium economy regions to take advantage of low production costs and availability of cost-effective raw materials.
- Various companies practice the primary process of oral solid dosage pharmaceutical formulation. Indeed, the solid form of the drug is known to be the easiest and simplest way to administer a drug in order to have just the right dose for various acute and chronic infections.
- Such dosage forms offer advantages such as chemical durability, stable transportation and safe packaging with low production costs. Based on region, Asia Pacific is expected to lead the growth of the oral solid dosage pharmaceutical formulations market.
- Tablets and capsules are used in pharmaceuticals to effectively treat several diseases. In comparison with other pharmacological forms, these are cost effective and easy to manufacture. They offer several advantages such as easy transport and packaging and superior chemical and physical stability. The dominant market players are partnering with small and medium-sized manufacturers to produce low-cost, top-notch generic drugs maintained at a low cost of production in developing countries.
In the oral solid dosage pharmaceutical formulations market, the dominant market players are adopting strategies such as mergers & acquisitions and advanced product launches by securing approvals. They also work with hospital and retail pharmacies to gain a competitive advantage in the market.
The main companies are AstraZeneca Plc., Bristol-Myers Squibb Company, Eli Lilly and Company, Gilead Sciences, Merck & Co. Inc, Novartis AG, Pfizer Inc., AbbVie Inc., Boehringer Ingelheim GmbH, F. Hoffman-La-Roche ltd. ., Johnson & Johnson, Biogen Inc., Bayer AG, Teva Pharmaceuticals, Amgen Inc., Takeda Pharmaceutical Company Ltd., Otsuka Pharmaceutical Co., Ltd., Shire Plc., Celgene Corporation, Astellas Pharma Inc.
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More information on the Oral Solid Dosage Pharmaceutical Formulation Market
The United States is expected to dominate the North American solid oral pharmaceutical formulations market by accounting for a total market share of approximately 93.6% in 2021. The demand in the market is expected to increase owing to the growing number of drug approvals oral solids in the country. .
China is the second largest market in the East Asian region, as it accounted for about 51.4% of the total oral solid dosage pharmaceutical formulations market in 2021. With efficient drug production , the main Chinese companies offer drugs at favorable prices.
Germany is another leading market in the European region as it is expected to grow at a CAGR of 6.7% during the forecast period. The growth of the solid oral pharmaceutical formulations market is increasing owing to the prevalence of chronic diseases and heart diseases in Germany, which is contributing to the demand for oral solid dosage forms.
Key market segments covered in the Oral Solid Dosage Pharmaceutical Formulation market study
By dosage form:
- Conventional/immediate release
- Modified version
- Chewable tablets
- Effervescent tablets
- Hard gelatin capsules
- Soft gelatin capsules
- Powders & Granules
- Lozenges & Lozenges
By drug release mechanism:
- Immediate launch
- Delayed broadcast
- Controlled release
By distribution channel:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
2.3. Inclusions and exclusions
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Market Development/Innovation Trends
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