The global Drug Formulation market is poised for significant growth, with an estimated valuation of USD 1.58 trillion by 2022. According to market forecasts, the market is expected to expand at a Compound Annual Growth Rate (CAGR) of 5.6% over the forecast period from 2022 to 2032.
Drug formulations play a crucial role in pharmaceutical development, enabling the delivery of medications in various forms such as tablets, capsules, injections, and more. The market’s growth is driven by increasing demand for innovative drug delivery systems, advancements in pharmaceutical research, and the rising prevalence of chronic diseases.
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The worldwide drug formulation market is crucial to the pharmaceutical industry because it facilitates the transformation of active pharmaceutical ingredients (APIs) into finished pharmaceuticals that are safe for ingestion by humans. The expected growth is due to both the growing demand for pharmaceutical items and advancements in medicine formulation technology.
Key Takeaways:
- The global drug formulation market is expected to reach USD 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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