Global Drug Formulation Market Segments 2024, Forecast To 2033
5 Mar, 2024
The drug formulation market, starting at $1780.87 billion in 2023, grew to $1931.05 billion in 2024, marking an 8.4% CAGR. The historic period saw innovations in biopharmaceuticals, patient-centric drug development, and regulatory support. Projected to reach $2682.41 billion by 2028, the market will continue its upward trajectory at an 8.6% CAGR. Advancements in 3D printing, pediatric formulations, and AI integration will contribute, along with trends like biopharmaceutical dominance and personalized medicine.
Global Drug Formulation Market Key Driver
The drug formulation market is set to grow with the increasing prevalence of chronic diseases. The United States expects a 99.5% rise in the population aged 50 and older with at least one chronic illness by 2050. Drug formulation, optimizing therapeutic efficacy while minimizing adverse effects, plays a pivotal role in managing chronic illnesses, driving the growth of the drug formulation market.
Get A Free Sample Of The Global Drug Formulation Market ReportGlobal Drug Formulation Market Segments
The drug formulation market covered in this report is segmented –
1) By Dosage Form: Oral formulations, Parenteral Formulations, Topical Formulations, Inhalation Formulations
2) By Formulation: Tablets, Capsules, Injectable, Sprays, Suspensions, Powders, Other Formulations
3) By Therapy Area: Cardiovascular Diseases (CVDs), Pain, Diabetes, Cancer, Respiratory Diseases, Other Diseases
4) By End-User: Big Pharma, Small And Medium Pharma, Biotech Companies
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the drug formulation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the drug formulation market report during the forecast period. The regions covered in the drug formulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Drug Formulation Industry Players
AstraZeneca PLC; The Bristol-Myers Squibb Company; Eli Lilly and Company; Gilead Sciences Inc.; Merck & Co. Inc.; Novartis AG; Pfizer Inc.; AbbVie Inc.; C.H. Boehringer Sohn AG & Co. KG; F. Hoffmann-La Roche AG; Johnson & Johnson; 3M Company; Bayer AG; Teva Pharmaceutical Industries Ltd.; Sanofi S.A.; GlaxoSmithKline plc; Boston Scientific Corporation; Novo Nordisk A/S; Amgen Inc.; Viatris Inc.; Sandoz International GmbH; Takeda Pharmaceutical Company Limited; Sun Pharmaceutical Industries Ltd.; Dr. Reddy's Laboratories Ltd.; Cipla Ltd.; Lupin Limited; Torrent Pharmaceuticals Limited; Jubilant Life Sciences Limited; Cadila Healthcare Limited; Glenmark Pharmaceuticals Ltd.; Wockhardt Ltd.; Hikma Pharmaceuticals plc
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AIOps Drug Formulation Market Overview
Drug formulation is defined as the process of combining several chemical and biological ingredients, including the active medicine, to create a finished pharmaceutical product. It is used to be modify and optimize the drugs during the preclinical stage and initial research.
Drug Formulation Global Market Report 2023 provides data on the global drug formulation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The drug formulation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.