Drug Formulation Market to Etch New Growth Ratio with Adoption in Developing Economy

The global demand for drug formulation is projected market to grow at a CAGR of 5.6% between 2022 and 2032, with the pharmaceutical formulations market expected to reach a value of US$ 1.58 trillion by 2022. According to the study, oral formulations are anticipated to experience exponential growth, with a CAGR of 6.0% during the forecast period.

As pharmaceuticals continue to improve the quality of life, there is a growing demand for novel drug formulations that offer effective clinical care and a cost-effective manufacturing process. Biologics have emerged as an effective treatment option for chronic disease management.

The rise of biosimilars has compelled pharmaceutical companies to innovate or lower prices to remain competitive, fueling innovation in the field of biologics. Currently, the FDA has approved 37 biosimilars, with a significant expansion occurring in 2019, when the number of approved biosimilars increased by 65%, and the number of such drugs available in the US rose by 157%.

However, manufacturers, payers, and providers expect that biosimilar competition will result in persistent price reductions, as seen by the adoption of biosimilars in Europe over the past 13 years.

As the number of treatment options for a particular disease or condition increases, manufacturers will be encouraged to reduce their product prices, driving the growth of the drug formulation market in the coming years.

Market Competition

Key Players:

  • 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
  • Others

View Complete Report@ https://www.futuremarketinsights.com/reports/drug-formulation-market

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
  • 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

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