Demand for the global Oral Solid Dosage Pharmaceutical Formulation Market is anticipated to expand at a robust CAGR of 6.4% over the valuation period from 2022 to 2032. The global market is expected to touch US$ 555.3 Million in 2022 and surpass a valuation of US$ 1.0 Billion by 2032. As per the studies, on the basis of dosage, the tablets segment led to the market with a massive share of around 53.1% in 2021.
As per Future Market Insights analysis, the oral solid dosage pharmaceutical formulation market accounted for around 1.4% of the overall US$ 40.0 Billion of the global pharmaceutical drug delivery market in 2021. The expansion of sales of solid dosage pharmaceutical formulations was anticipated at a robust rate of 8.1% from 2012 to 2021, attributed to the surging adoption and greater patient compliance.
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Oral solid dosages are one of the most commonly utilized pharmaceuticals that help in treating multiple chronic diseases. These oral solid dosages are witnessing high sales due to their cost-effective nature and are easily available in retail and hospital pharmacies across the globe. These dosage forms are easily manufactured and come with an affordable price point in numerous underdeveloped nations. This is expected to create lucrative growth prospects for the key players.
Key Takeaways
- Since several research institutions and organizations are engaged in the drug discovery process, there is a massive amount of oral solid drugs in the process of approval with improved efficacy. Once these products are approved, the manufacturers are expected to be benefitted from generating profitable sales. Therefore, a positive impact due to the surging number of drug pipelines can be witnessed in the oral solid dosage pharmaceutical formulation market during the forecast period.
- There is an overall surge witnessed in the demand for oral solid dosage drugs and vaccines for the treatment of various diseases and infections has also increased worldwide. Hence, prominent players in the market are working on developing drug manufacturing capacities of their own in low and medium-economy regions to capitalize on low production costs and availability of cost-effective raw materials.
- Various firms practice the primary process of oral solid dosage pharmaceutical formulation. This is because the solid form of the drug is known to be the easiest and simplest way of administering a drug in order to have just the appropriate dose for various acute and chronic infections.
- Such dosage forms offer advantages including chemical durability, stable transport, and safe packaging with low production costs. On the basis of region, Asia Pacific is expected to dominate the growth in the oral solid dosage pharmaceutical formulation market.
- Tablets and capsules are utilized in pharmaceuticals to efficiently treat several disease conditions. In comparison to other pharmacological forms, these are cost-efficient and easy to manufacture. They offer several advantages such as easy transport and packaging and superior chemical and physical stability. Dominant market players are partnering with small and medium-sized manufacturers to produce low-cost and top-notch generic drugs maintained at a low cost of production in developing nations.
Competitive Landscape
In the oral solid dosage pharmaceutical formulation market, dominant market players are adopting strategies such as mergers & acquisitions, and advanced product launches by gaining approvals. They are also collaborating with hospital and retail pharmacies to gain a competitive edge in the market.
Key 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.
More Insights into the Oral Solid Dosage Pharmaceutical Formulation Market
The U.S. is expected to dominate the North American oral solid dosage pharmaceutical formulation market by accounting for a total market share of about 93.6% in 2021. Demand in the market is anticipated to grow due to the rising number of oral solid drug approvals in the country.
China is the second largest market in the East Asian region, as it accounted for around 51.4% of the total oral solid dosage pharmaceutical formulation market in 2021. Due to efficient drug production, key companies in China are offering medicines at cost-effective prices.
Germany is yet another market leading the European region as it is expected to grow at a CAGR of 6.7% during the forecast period. The growth of the oral solid dosage pharmaceutical formulation market is rising due to the prevalence of chronic diseases and heart diseases in Germany is aiding the demand for oral solid dosage forms.
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Key Market Segments
By Dosage Form:
- Tablets
- Conventional/Immediate Release
- Modified Release
- Chewable Tablets
- Effervescent Tablets
- Capsules
- Hard Gelatin Capsules
- Soft Gelatin Capsules
- Others
- Powders & Granules
- Lozenges & 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
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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