Market Research Reports Search Engine (MRRSE) has recently publicized a new study to its vast repository, which is titled as “the global oral solid dosage pharmaceutical formulation market to grow from US$ 493.2 Bn in 2017 to US$ 926.3 Bn by 2027 end. This represents a value CAGR of 6.5% over the forecast period 2017– 2027. Several important factors drive this growth. We present these factors in detail in our report. A snapshot is captured below for our readers’ benefit.
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Growth Factor : Most promising yet cost-effective dosage form
Oral solid dosage forms are the most commonly used pharmaceuticals to treat various disease conditions. Oral solid dosage forms are cost-effective and easy to manufacture in comparison with other dosage forms. They offer significant benefits to manufacturers such as trouble free packaging and transportation and increased chemical and physical stability. Oral solids offer many advantages to patients as well. For instance, oral solid dosage forms are often chosen by patients owing to the inherent advantages in dosage administration and no necessity of dose measurement. They can be formulated in different flavours and in different dosage forms in order to increase patient compliance. For instance, few APIs have unpleasant taste, and in order to avoid this, they are manufactured in the form of effervescent tablets to achieve patient acceptability and compliance. Recent advances in drug delivery are enabling oral solid dosage manufacturers to achieve significant bioavailability by adopting novel drug delivery technology platforms. For example, targeted drug delivery and sustained release of dosage forms in oral solid dosage formulations enhance the bioavailability of the drugs and reduce the frequent administration of drugs, thereby contributing to significant growth of oral solid dosage forms.
Growth Factor : Growth in APEJ region driven by rise in affluent consumers and super generics
Huge boost in the APEJ market for oral solid dosage pharmaceutical formulations is coming from a sharp rise in new affluent consumers in countries such as India, China and Korea. Both multinational companies as well as local drug manufacturers are benefiting from the rapidly growing population of India and China. This group of affluent consumers is adopting a wealthy and fast-paced western lifestyle and thus have begun to suffer with western lifestyle related diseases such as diabetes, cancer and obesity, for which they seek and can afford innovative drug treatments. Moreover, generic manufacturers have entered into the production of super-generics i.e., modified versions of approved off-patent small-molecule drugs that offer a therapeutic advantage and thus distinguish them from me-too generic drugs. For instance, Ranbaxy Laboratories Ltd. – India based manufacturer of generic medicine – has developed once-a day Ciprofloxacin tablet, a super generic antibiotic. The company licensed it to Bayer and opened up an opportunity in the global market.
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Global Oral Solid Dosage Pharmaceutical Formulation Market Attractiveness Analysis, By Region
North America dominated the global oral solid dosage pharmaceutical formulation market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. North America is expected to be the most lucrative among all regions, with a market attractiveness index of 2.7. Consolidation of the pharmaceutical industry in the U.S. combined with an expansion in outsourcing is boosting revenue growth of the oral solid dosage pharmaceutical formulation market in the region. APEJ is expected to be the second most lucrative market for oral solid dosage pharmaceuticals, with a market attractiveness index of 2.6. APEJ remains the third largest market due to rapidly increasing penetration of generics in China and India. MEA is expected to remain the least attractive regional market in terms of revenue, with a market attractiveness index of 0.1 over the forecast period.
Every market is challenged by certain factors that tend to hamper overall growth. We have focussed on these growth limiters in detail in our report. One such factor restraining market growth is highlighted below.
Diminishing share of oral solids in the development pipeline
Growing research on biologics molecules and their dominance in treating oncology conditions are hampering the growth of the oral solid dosage pharmaceutical formulation market. Furthermore, investments by government organisations to conduct research activities in biologics coupled with an increase in biotech start-ups have had a negative impact on oral solid dosage forms. According to an article published in Contract Pharma, approximately 50% of the pipeline molecules are biologics and the rest in the form of other dosage forms. Companies are betting heavily on biologics owing to their high returns in terms of value. For instance, in 2016, the top 10 drugs generated around US$ 79 Bn in terms of value; among these, 76.8% were from biologics.
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