The global oral solid dosage pharmaceutical formulation market is poised for remarkable expansion, with projections indicating a growth from USD 629,582.6 million in 2024 to USD 895,636.0 million by 2034. This substantial increase represents a compound annual growth rate (CAGR) of 3.7% over the next decade, fueled by continuous advancements in drug discovery and a promising pipeline of innovative medications.
This growth trajectory is further bolstered by the anticipated approval of numerous oral solid medications, which are set to enhance therapeutic efficacy and expand treatment options for patients worldwide. As pharmaceutical companies and research institutes intensify their drug development efforts, the industry is well-positioned to address the increasing demand for oral solid dosage formulations, making significant strides in patient care.
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The market’s expansion is largely driven by ongoing advancements in pharmaceutical research and development. However, the sector faces certain challenges, such as the complex and often prolonged approval processes mandated by regulatory authorities. These hurdles can delay product launches, increase development costs, and create barriers for new entrants looking to bring innovative solutions to market. Overcoming stringent regulatory requirements remains a key challenge for industry players seeking to maintain a competitive edge.
Geographically, the Asia Pacific region is witnessing rapid growth in the pharmaceutical sector, driven by rising healthcare expenditures and the increasing demand for affordable medications. In Europe, a focus on patient-centric approaches and personalized therapies is positively influencing market dynamics. Moreover, the rising availability of over-the-counter (OTC) medications and a shift toward generic substitutions are making oral solid dosage pharmaceuticals more accessible and cost-effective for consumers across the region.
“The oral solid dosage pharmaceutical formulation market is evolving rapidly due to the rising demand for accurate and convenient drug delivery methods,” says an analyst from Future Market Insights (FMI). “The outlook remains optimistic, supported by increasing patient compliance, advancements in pharmaceutical technology, and a growing global market.”
As the market continues its upward trajectory, stakeholders in the pharmaceutical industry are encouraged to adapt to emerging trends and address existing challenges to ensure sustained progress and continued innovation in oral solid dosage formulations.
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.
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)
