Global Oral Solid Dosage Pharmaceutical Formulation Market Report 2024

The oral solid dosage pharmaceutical formulation market size has grown strongly in recent years. It will grow from $583.07 billion in 2023 to $618.34 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to chronic disease prevalence, aging population, healthcare access expansion, generic formulation promotion, and consumer preference shift.

The oral solid dosage pharmaceutical formulation market size is expected to see strong growth in the next few years. It will grow to $792.37 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The forecast period's growth is expected to be driven by factors such as increasing demand for personalized medicine, adoption of controlled-release formulations, a heightened focus on biopharmaceuticals, expansion into emerging markets, and changes in policies and reimbursement structures. Anticipated trends in the forecast period encompass the adoption of personalized medicine approaches, integration of digital health technologies, the proliferation of telemedicine services, emphasis on preventive healthcare strategies, and the ongoing expansion of artificial intelligence applications within the healthcare sector.

The surge in chronic diseases prevalence is anticipated to drive the future growth of the oral solid dosage pharmaceutical formulation market. Chronic diseases, characterized by their long-term nature lasting three months or more, are on the rise due to various factors such as aging populations, sedentary lifestyles, poor dietary habits, environmental influences, and improved detection and diagnostic methods. Oral solid dosage pharmaceutical formulations play a crucial role in managing chronic diseases by offering convenient, stable, and precisely dosed medications, thus supporting long-term treatment adherence. For instance, data from the IDF Diabetes Atlas Tenth Edition 2021 report published by the International Diabetes Federation in July 2021 projected a significant increase in the global diabetic population, reaching 643 million by 2030 and 783 million by 2045 from 537 million in 2021. Consequently, the increasing prevalence of chronic diseases serves as a catalyst for the growth of the oral solid dosage pharmaceutical formulation market.

Key players in the oral solid dosage pharmaceutical formulation market are focusing on developing innovative products, such as liquid-filled capsules, to improve drug delivery, enhance bioavailability, and provide more convenient dosing options for patients. Liquid-filled capsules, a type of oral dosage form comprising a gelatin shell filled with a liquid or semi-solid formulation containing active pharmaceutical ingredients (APIs) and excipients, offer advanced delivery systems with enhanced bioavailability and absorption rates. For example, Zeon Lifesciences Ltd., an India-based pharmaceutical company, introduced liquid-filled capsules in July 2023, featuring an innovative delivery system that ensures optimal levels of active ingredients for maximum efficacy and immediate results. These capsules provide precise and consistent dosages, promoting patient compliance and control over medication administration, thus setting a new standard for patient care and compliance in the pharmaceutical industry.

In March 2024, Roquette Frères, a France-based food company, acquired IFF Pharma Solutions for $2.85 billion. This strategic acquisition strengthens Roquette's position in the pharmaceutical industry, expands its product range, enhances formulation capabilities, and fortifies its global presence, positioning the company as a key player in innovative drug delivery solutions. IFF Pharma Solutions, a US-based company providing pharmaceutical solutions including tablets and capsules, complements Roquette's objectives, offering synergistic opportunities for growth and innovation.

Major companies operating in the oral solid dosage pharmaceutical formulation market are Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., AbbVie Inc., Bayer AG, Bristol-Myers Squibb Company, AstraZeneca Plc., Novartis AG, Hoffman-La-Roche Ltd., Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Boehringer Ingelheim GmbH, Gilead Sciences, Amgen Inc., Teva Pharmaceuticals, Otsuka Pharmaceutical Co. Ltd., Astellas Pharma Inc., Biogen Inc., Lonza Group, Catalent Inc., Ashland Inc., Piramal Pharma Solutions, Jubilant Pharmova, CordenPharma International.

North America was the largest region in the oral solid dosage pharmaceutical formulation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oral solid dosage pharmaceutical formulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the oral solid dosage pharmaceutical formulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Oral solid dosage pharmaceutical formulations are medications designed to be taken orally in a solid form. These formulations are intended to be ingested and then dissolved or dispersed in the gastrointestinal tract, allowing the active pharmaceutical ingredients (APIs) to be absorbed into the bloodstream, thereby exerting their therapeutic effects. They represent a fundamental aspect of modern medicine, providing a dependable, convenient, and efficacious means of drug delivery.

The primary dosage forms of oral solid dosage pharmaceutical formulations include tablets, capsules, powders and granules, lozenges and pastilles, and gummies. Tablets are solid oral dosage forms created by compressing powdered active ingredients and excipients into a compact, easily ingestible shape. These formulations may incorporate various release mechanisms such as controlled release, immediate release, and delayed release. They are distributed through various channels including hospital pharmacies, retail pharmacies, drug stores, online pharmacies, and hypermarkets or supermarkets, and are utilized by a diverse range of end-users including large, medium, and small-sized companies, among others.

The oral solid dosage pharmaceutical formulation market research report is one of a series of new reports that provides oral solid dosage pharmaceutical formulation market statistics, including oral solid dosage pharmaceutical formulation industry global market size, regional shares, competitors with an oral solid dosage pharmaceutical formulation market share, detailed oral solid dosage pharmaceutical formulation market segments, market trends and opportunities, and any further data you may need to thrive in the oral solid dosage pharmaceutical formulation industry. This oral solid dosage pharmaceutical formulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The oral solid dosage pharmaceutical formulation market consists of sales of chewable tablets, multivitamin tablets, aspirin tablets, probiotic capsules, and protein powders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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