Drug Formulation Market, Reaching US$ 2.87 Trillion by the Year 2032 at a CAGR of 5.6% in the Forecast Period 2022 to 2032 | Future Market Insights, Inc.

NEWARK, Del: The global drug formulation market was worth US$ 1.58 Trillion in the year 2022 and is expected to reach US$ 2.87 Trillion by the year 2032 at a CAGR of 5.6% between 2022 and 2032.

With exceptional research being conducted on the count of contagious diseases, the drug formulation market is expected to grow on an enigmatic note in the near future. Along these lines, AiPharma, in October 2020, did join a worldwide consortium consisting of manufacturing, pharmaceutical, and distribution leaders for advancing oral antiviral Avigan/Reeqomus for Covid-19.

The other attribute is that various drugs are witnessing the trend of expiry of patents. The Korean Ministry of Food and Drug Safety (MFDS) has announced that the year 2021 saw expiry of 158 patents on the whole. Also, the MFD’s Green List does show that 44 patents were to be ready regarding entry of generics.

Oncology Pharma Inc., in November 2021, did reveal plans to develop one of the leading candidates with NanoSmart Pharmaceuticals Inc. A month before, Metrics Contract Services inked a development and manufacturing agreement with ‘ESSA Pharmaceuticals’ to provide formulation development and analytical services of orally administered oncology drug.

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Future Market Insights has walked through these findings with future prospects in its latest market study entitled ‘Drug Formulation Market’. It has its team of analysts and consultants to deploy an eagle’s eye view all through its primary, secondary, and tertiary modes of research.

“With key participants vigorously investing in research, especially during the pandemic era, the global drug formulation market is expected to grow on a voluminous count in the near future”, says an analyst from Future Market Insights.

Key Takeaways from Drug Formulation Market

• North America holds the largest market share with the US being subject to an influx of chronic diseases at an alarming rate in the US. The United States Department of Commerce’s National Institute of Standards and Technology (NIST), in May 2020, did fund close to US$ 8.9 Million to biopharmaceutical manufacturing projects responding to Covid-19. Besides, Recro Pharma, Inc., in January 2022, was reported to have been awarded a novel formulation development along with cGMP manufacturing contract from one of the key departments of the US government.
• Europe holds the second-largest market share with Germany ruling the roost. This could be credited to pharmaceutical companies getting a safety passage over here. In other words, the pharmaceutical companies over here need not face any legal pressure to deduct the prices of their drugs.

Competitive Formulations

• Bristol Myers Squibb, in June 2022, entered into a definitive agreement with Turning Point Therapeutics for expanding the former’s selection of the oncology drugs as the latter is a precision oncology company at clinical development stage.
• AstraZeneca, in March 2022, did come up with Evusheld long-acting antibody combo. It has authorized in Europe for pre-exposure prophylaxis (aversion) of Covid-19.
• Coriolis Pharma, in January 2022, did open new-fangled ATMP Formulation Development Facilities in vicinity of Coriolis’ HQ in Martinsried. This would notably increase capabilities of Coriolis for development of ATMP.
• Berkshire Sterile Manufacturing (BSM), in February 2022, did add lyophilisation, formulation, and the method development capacities for complementing the clientele’s drug productions.

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
• Bayer AG
• Others

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What does the Report formulate?

• The research study is based on dosage form (oral formulations (tablets (immediate release, modified release, chewable, and effervescent), capsules (hard gelatin capsules, softgel capsules, and likewise), powders & granules, lozenges & pastilles, gummies, and likewise), parenteral formulations (solutions, suspensions, emulsions for injection or infusion, powders for injection or infusion, and gels for injection implants), topical formulations (pastes, ointments and oils, creams, lotions, and foams, gels, tinctures, and powders, and sprays and patches), and inhalation formulations (pressurized metered dose inhaler, DPI (Dry Powder Inhaler), and nebulizer)), by indication (infectious diseases, cancer, cardiovascular diseases, diabetes, respiratory diseases, central nervous system disorders, autoimmune diseases, gastrointestinal diseases, musculoskeletal disorders, dermatological disorders, and likewise), and by end-user (big pharma, SMEs, and biotech companies).
• With increasing prevalence of chronic ailments all across, the global drug formulation market is likely to grow on a splendid note in the years to come.

Key Market Segments Covered in Drug Formulation Industry Research

By Dosage Form:

• Oral formulations
  • Immediate Release
  • Modified Release
  • Chewable
  • Effervescent
  • Hard Gelatin Capsules
  • Softgel Capsules
  • Others
• Tablets
• Capsules
• 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

Browse Detailed Summary of Research Report@ https://www.futuremarketinsights.com/reports/drug-formulation-market

Table of Content

1. Executive Summary | Drug Formulation Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-Side Trends
1.4. Analysis and Recommendations

2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
2.3. Inclusion and Exclusion

3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation/Development Trends

4. Key Inclusion
4.1. Product Adoption/Consumption Analysis
4.2. Key Promotional Strategies, By Manufacturers
4.3. Disease Epidemiology
4.4. Pipeline Assessment
4.5. Regulatory Landscape

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