Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "Drug Formulation Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global drug formulation market is poised for substantial growth, projected to surge from $1,640.73 trillion in 2022 to $1,780.87 trillion in 2023, reflecting an impressive Compound Annual Growth Rate (CAGR) of 8.5%.
A comprehensive market analysis, complete with trends, growth drivers, and challenges, is provided in the drug formulation market research report. The report offers insights into the industry's global market size, regional shares, competitive landscape, market segments, and opportunities, delivering an in-depth analysis of both the current and future industry landscape.
Key Market Trends
Technological advancements stand out as a prominent trend in the drug formulation market. Leading players in the industry are focusing on the integration of innovative technologies to enhance their market position.
For instance, in June 2022, Merck & Co., Inc., a US-based pharmaceutical company, introduced the Merck Digital Sciences Studio (MDSS), aimed at fostering innovative technologies for drug research and development.
This collaborative initiative leverages Azure Cloud's robust computing and Merck's expertise to expedite the development of novel digital technologies. Another notable trend is the rising adoption of cloud-based logistics platforms to streamline operations and drive growth.
Global Economic Dynamics
The report underscores the impact of the Russia-Ukraine war on the global economy. This conflict has disrupted global economic recovery from the COVID-19 pandemic, leading to economic sanctions, commodity price fluctuations, and supply chain disruptions. These factors have caused inflation across goods and services, influencing various markets across the globe.
Market Segmentation
The drug formulation market is segmented as follows:
By Service:
- Transportation
- Warehousing
- Other services
By Application:
- E-commerce
- Logistic companies
- Traders
Growth Drivers
The rising prevalence of chronic diseases is a pivotal driver expected to propel the growth of the drug formulation market. As chronic diseases continue to impact a significant portion of the global population, drug formulation plays a crucial role in optimizing therapeutic efficacy while minimizing adverse effects. For instance, projections suggest a substantial increase in the number of people aged 50 and older with at least one chronic illness in the United States, underscoring the critical need for effective drug formulation solutions.
Strategic Insights
The report provides insights and opportunities for businesses to strategize and leverage market growth. It outlines methods for outperforming competitors using forecast data, analyzing trends, and understanding customer preferences based on the latest market shares.
A Comprehensive Perspective
The drug formulation market research report offers a comprehensive analysis of market size, growth trajectory, and competitive landscape. It addresses key questions related to the market's position within the global economy, demographic influences, and emerging forces that will shape its growth trajectory.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1780.87 trillion |
| Forecasted Market Value (USD) by 2027 | $2444.87 trillion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
Major players in the Drug Formulation market are
- 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
Key Topics Covered:
1. Executive Summary
2. Drug Formulation Market Characteristics
3. Drug Formulation Market Trends And Strategies
4. Drug Formulation Market - Macro Economic Scenario
4.1. COVID-19 Impact On Drug Formulation Market
4.2. Ukraine-Russia War Impact On Drug Formulation Market
4.3. Impact Of High Inflation On Drug Formulation Market
5. Drug Formulation Market Size And Growth
5.1. Global Drug Formulation Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Drug Formulation Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Drug Formulation Market Segmentation
6.1. Global Drug Formulation Market, Segmentation By Dosage Form, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Oral Formulations
- Parenteral Formulations
- Topical Formulations
- Inhalation Formulations
6.2. Global Drug Formulation Market, Segmentation By Formulation, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Tablets
- Capsules
- Injectable
- Sprays
- Suspensions
- Powders
- Other Formulations
6.3. Global Drug Formulation Market, Segmentation By Therapy Area, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Cardiovascular Diseases (CVDs)
- Pain
- Diabetes
- Cancer
- Respiratory Diseases
- Other Diseases
6.4. Global Drug Formulation Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Big Pharma
- Small And Medium Pharma
- Biotech Companies
7. Drug Formulation Market Regional And Country Analysis
7.1. Global Drug Formulation Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Drug Formulation Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/u6e6zl
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