Artificial Intelligence
Oral Solid Dosage Contract Manufacturing Market to climb to a valuation of US$ 43.6 Bn by the end of 2032
NEW YORK, March 28, 2022 (GLOBE NEWSWIRE) — As per latest industry analysis by Persistence Market Research, the global oral solid dosage contract manufacturing market recorded sales worth US$ 23.4 Bn in 2021, and is predicted to expand at a CAGR of 5.9% from 2022 to 2032.
Contract research organisations are outsourced companies that provide support to pharmaceutical and biotechnology companies in their clinical and preclinical studies on a contract basis. Manufacturing costs are rising on a daily basis. As a result, both, large and small pharma and biotech businesses are concentrating their efforts on CDMOs in order to form long-term contract manufacturing agreements. This will assist enterprises in sticking to fixed manufacturing rates and CDMOs in improving manufacturing quality
Tablets and capsules are the basic types of solid dosage forms. Nowadays, companies are using novel technologies to increase the bioavailability of dosage forms to increase patient compliance. Oral solid dosage form contract manufacturers either introduces new products or upgrades older products. For example, several patients, especially paediatric patients, have difficulty swallowing tablets. Therefore, extended release beads can help in optimizing the release rate. Companies are also manufacturing sublingual tablets for quick medication.
Increasing complexity of new drug molecules will drive market growth because CROs and CDMOs provide manufacturing with expertise to help handle the complexity of new molecules. Over the coming years, the contract development and manufacturing industry will be driven by increased investments in infrastructure development and factory expansions, as well as CDMO capabilities to provide fully-integrated services.
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Since the oral solid dosage contract manufacturing market is consolidated with a few key players, it presents numerous lucrative opportunities for new entrants to create a foothold in this industry. Increase in strategic collaborations can also prove a beneficial factor for market players to expand their footprint.
Key Takeaways from Market Study
- Tablet dosage form accounted for 34% market share in 2021.
- Drug product development held approximately half of the overall market share, by value, in 2021.
- Immediate-release mechanism holds a market share of 53.7%.
- Limited availability of resources and increased focus on reducing R&D and operational costs are key reasons why small and medium pharma or biotech companies opt for outsourcing. As such, these companies dominate the end user segment and captured around 32% share of the market in 2021.
- The North America market for oral solid dosage contract manufacturing accounted for 25.2% of the global market share.
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“Rise in strategic collaborations between pharma giants and emerging players will boost demand for oral solid dosage contract manufacturing over the coming years,” says an analyst of Persistence Market Research.
Market Competition:
Major oral solid dosage contract manufacturing providers are investing in R&D activities in order to develop novel technologies for solid dosage formulation developments. Along with R&D investments, key players are also aiming for various expansions to create goodwill and successfully establish their presence in the global market.
- In January 2022, Lonza, Forbion, and BioGeneration Ventures extended their collaboration to include development and manufacturing services for small molecules.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the oral solid dosage contract manufacturing market in its latest study, presenting historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on dosage form (tablets {conventional release, modified release, chewable tablets, effervescent tablets}, capsules {hard gelatin capsules, soft gelatin} capsules/softgels; powders & granules; lozenges & pastilles; gummies), mechanism (immediate release; delayed release; controlled release), application (drug product development; fill & finish product manufacturing; packaging/ labelling; others), and end user (big pharma/ biotech companies; small and medium pharma/ biotech companies; emerging/ virtual pharma companies; nutraceutical companies), across seven key regions of the world.
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