Drug Formulation Market Outlook (2022 to 2032)

[426 Pages Report] The global demand for drug formulation is expected to increase at 5.6% CAGR over the forecast period from 2022 to 2032. The sales of the drug formulations market are estimated to reach a valuation of US$ 1.58 Trillion by 2022. According to the study, oral formulations projects to grow exponentially with a CAGR of 6.0% during the forecast period.

Market Outlook

Data Points Market Insights
Drug Formulation Market Value 2021 US$ 1.50 Trillion
Drug Formulation Market Value 2022 US$ 1.58 Trillion
Drug Formulation Market Value 2032 US$ 2.87 Trillion
Drug Formulation Market CAGR 2022 to 2032 5.6%
Market Share of Top 5 Countries 68.4%

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Sales Analysis of Drug Formulation Market from 2012 to 2021 Vs Demand Outlook for 2022 to 2032

According to Future Market Insights (FMI), the overall sales of drug formulation grew at a CAGR of 5.1% between 2012 and 2021. However, the demand in the drug formulation market is expected to increase at a CAGR of 5.6%, surpassing US$ 2.87 Trillion by the end of 2032.

The pharmaceutical industry has experienced a substantial revolution with the introduction of novel technologies as well as more affordable and cost-effective manufacturing methods. Robotics and artificial intelligence are increasingly being used in the pharmaceutical industry to decrease production waste and downtime on the factory floor. Personalized medicine's continual breakthroughs have also made it feasible to establish patient-centric models by opening up several chances to address a wide range of medical conditions.

In addition, the growing prevalence of the chronic disease among the population, and rising investment flow in this sector are positively driving the market growth. The consumption of pharmaceuticals is also being influenced by the growing world population, which has helped the drug formulation industry rise recently. As a result, the use of antidepressants doubled, consumption of antihypertensive and antidiabetic medications almost doubled, and consumption of cholesterol-lowering medications nearly quadrupled between 2000 and 2015 in Organization for Economic Cooperation and Development (OECD) nations. Increasing the focus on non-communicable diseases (NCDs), such as diabetes and hypertension, which are already widespread in developed nations, while communicable diseases, such as Acquired immunodeficiency syndrome (AIDS), malaria, and tuberculosis, which affect many developing economies, continue to exist.

The global drug formulation market is expected to be valued at US$ 2.87 Trillion by the end of 2032, registering a CAGR of 5.6% in the forecast period.

Drug Formulation Market

What are the Key Opportunities for Drug Formulation Manufacturers?

Until the 20th century, there were relatively limited medicines and treatment options available for chronic diseases like cancer or other rare diseases which indeed projected limited treatment options. However, the growth in research efforts and investment for drug development has projected a positive impact projecting an opportunistic factor for the manufacturers for new drug development in the market. The opportunities are growing because of the increasing advances in molecular biology to develop new agents.

The amount of revenue that pharmaceutical companies anticipate gaining from a new drug, the estimated cost of developing that drug, and laws that affect the supply and demand for drugs also play a role in the amounts of money they invest in research and development (Research and Development). For instance, according to Federal Government Statistics, pharmaceutical businesses invested an average of about 25% of their revenue in Research and Development. In 2019, Top Research and Development spenders 2021 spent close to one-fifth of their income on Research and Development. The pharmaceutical industry is undoubtedly a global one, although US-based businesses often spend the most on Research and Development. Such conditions are anticipated to create lucrative opportunities for local players to reinforce their position and increase their market share over the forecast period.

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Sabyasachi Ghosh

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What are the Factors Restraining Demand for Drug Formulation?

Currently, trial and error procedures are used to generate pharmaceutical compositions. This process is a time-consuming method that takes a long time to complete, involving high expenses, and a significant amount of work labors to build and maintain. However, complexity in compliance with the regulatory values would impact the drug development process, if the formulation is unable to comply with the regulatory requirement the repeat process for drug development would negatively impact the pharmaceutical industry economy to a high extent. The pharmaceutical sector is under pressure to lower healthcare costs and the production of new active pharmaceutical ingredients (APIs). Thus this factor expects to restrain the pharmaceutical industries to involve in the drug development process which in turn expects to hamper the market growth.

Additionally, complexity in the supply chain exists to be a restricting factor expected to hamper the drug formulation market growth. Most pharmaceutical companies have a complex supply chain, which is either inefficient or under-utilized. The complexity of the supply chain is due to low flexibility or its cost-effective nature. However, increasing generic competition has dented the profitability of big players and the trend expects to continue over the years. Many pharmaceutical companies have started to reorganize their supply chain in response to changing market structures, but these changes are only meant to address short-term challenges. Along with patent cliffs, the shortening of effective patent life is the major issue in the drug formulation market due to increasing time-to-market and stringent regulations.

Country-wise Insights

Why is the US Considered to be the Largest Market for Drug formulations?

According to Future Market Insights, the US witnessed dominance in the North American drug formulation market, accounting for the highest total market share of 91.3% in 2021, and is projected to continue to exhibit high growth through 2022 & beyond.

The worldwide pharmaceutical market is significantly supported by the US market. Growing Research and Development spending has sped up FDA approvals, which are expected to remain stable until 2021. In 2021, the government approved 50 innovative medications, which was broadly in pace with the approval of 53 drugs the year before.

According to FMI Analysis, US pharmaceutical production and sales are expected to continue strong due to the ongoing global vaccination campaign and the accumulated demand for both necessary and optional medical treatments in 2022.

Why is Germany Considered a Lucrative Market for Drug formulation in Europe?

Germany is set to exhibit growth at a CAGR of around 5.2% in the Europe drug formulation market during the forecast period. The German healthcare industry is heavily controlled, and pharmaceutical companies do not face a lot of legal pressure to cut their drug sales prices for final consumers exploring opportunities for new entrance and positive opportunities for the existing manufacturers to invest and develop products in the market. Additionally, the presence of major players like Boehringer Ingelheim International Gmbh, Bayer AG, Merck KGa, Fresenius Kabi, and many more expect to augment the production capacity and make high product availability in the market witnessing the country’s dominance in the Europe market.

What will be the Demand Outlook for the Drug formulation Market in China?

China is projected to expand at a CAGR rate of 7.3% and is anticipated to account the half of the East Asia drug formulation marker revenue valued to reach around US$ 320.7 Billion in 2032.

The pharmaceutical industry in China is also very fragmented; most producers are small and medium-sized businesses. As a result, Research and Development investment is modest in comparison to international competitors. By 2025, the 14th Five-Year Plan wants to raise spending to 10% of sales. Pharmaceutical multinational companies (MNCs) with large market positions include AstraZeneca, Novartis, and Novo Nordisk, each of which held between 8 and 10% of the domestic market share in 2019. Since distribution networks are so important to the industry, domestic pharmaceutical companies like Sinopharm and Shanghai Pharmaceuticals have a firm grip on them. The government has been attempting to consolidate the pharmaceutical business and raise the average size of firms as a result of the industry's fragmentation to assist in quality inspection and improvement.

Major medical reforms have also been implemented in order to advance the development and maturity of China's pharmaceutical industry, in addition to the aforementioned policy changes.

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Category-wise Insights

Which Type of Dosage Form is Expected to be Most Preferred in Drug Formulation Market?

The oral formulation contribute about 42.2% of the market share in 2021 and is expected to register a CAGR of 6.0% in the forecast period. Oral formulations are highly preferred over other dosage forms owing to their advantageous factors, including patient compliance, non-invasiveness, and ease of drug administration.

Which is the Leading Indication in Drug Formulation Market?

Central Nervous System Disorders are expected to hold more than a 14% market share, exhibiting growth at 3.1% CAGR in the forecast period.

The growing prevalence of central nervous system disorders among the growing population has surged the demand for novel drugs in the market intending to explore opportunities in the market. For instance, the development of novel biologic drugs, such as recombinant proteins or gene therapies, is essential for the treatment of Alzheimer's disease (AD) and the therapy of the aging brain.

How did the big pharma companies influence the drug formulation market growth?

Based on end user, the big pharma companies held the highest market share of 39.9% in 2021 and is poised to expand at a CAGR of 5.1% over the upcoming decade. Big pharma companies with well-structured research and development sector along with high investment in product development and innovation has accelerated the production capacity of novel drug formulations.

Competitive Landscape

Key manufacturers are implementing strategies in the drug formulation market, including mergers and acquisitions and advanced product launches by acquiring approvals. To acquire a competitive edge in the market, the key companies are focusing on collaborating with the research institutes.

  • A definitive merger agreement between Bristol Myers Squibb and Turning Point Therapeutics was signed on June 20, 2022. This acquisition will expand BMS's selection of oncology drugs because Turning Point Therapeutics is a precision oncology company that is still in the clinical development stage.
  • AstraZeneca introduced The Evusheld long-acting antibody combo to the public on March 20, 2022. For the pre-exposure prophylaxis (prevention) of COVID-19 in a sizable population, it has received authorization in Europe.

Report Scope

Attribute Details
Forecast Period 2022 to 2032
Historical Data Available for 2012 to 2021
Market Analysis US$ Billion for Value
Key Regions Covered North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa
Key Countries Covered US, Canada, Brazil, Mexico, Argentina, UK, Germany, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, North Africa, GCC Countries, Turkey, Egypt, and South Africa
Key Market Segments Covered Dosage form, Indication, End User, and Region
Key Companies Profiled
  • 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
  • Teva Pharmaceuticals Industries Ltd.
  • Amgen, Inc.
  • Sanofi SA
  • GlaxoSmithKline plc
  • Boston Scientific Corporation
  • Gerresheimer AG
  • Nimbus Therapeutics
  • Antares Pharma, Inc.
  • IDEAYA Biosciences, Inc.
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Key Market Segments Covered in Drug Formulation Industry Research

By Dosage Form:

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

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East and Africa (MEA)

Frequently Asked Questions

How much is the drug formulation market currently worth?

The global drug formulation market is expected to be worth US$ 1.50 Tn in 2021 and is set to expand by 1.8x over the next eleven years.

What is the sales forecast for the drug formulation market through 2032?

The drug formulation market is expected to reach US$ 2.87 Bn by end of 2032, exhibiting growth at a CAGR of 5.6% between 2022 and 2032.

What are the key trends shaping the drug formulation industry?

Key trends influencing the sales in the drug formulation market include a focus on production capacity expansion by implementing an outsourcing strategy, an approach towards advanced manufacturing techniques, expanding product sales through the online platform, and adopting strategic alliances are the emerging trends adopted by the key players.

Which region has the highest market share in the global drug formulation market?

North America is expected to lead the global market, with the U.S. contributing over 91.3% of the revenue share to the regional market in 2022.

Which are the top 5 countries driving demand for Drug Formulations?

The U.S., China, Japan, Germany, and Canada are the top five countries, which are expected to drive demand in the 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
    4.6. Reimbursement Outlook
    4.7. PESTLE Analysis
    4.8. Porter’s Analysis
    4.9. Supply Chain Analysis
5. Market Background
    5.1. Macro-Economic Factors
        5.1.1. Global GDP Growth Outlook
        5.1.2. Global Healthcare Industry Market Outlook
        5.1.3. Pharmaceutical Industry Outlook
    5.2. Forecast Factors - Relevance & Impact
        5.2.1. Rise In Incidence of chronic disease
        5.2.2. Growth In Production Capacity
        5.2.3. Increase In Adoption Rate
        5.2.4. Increasing Economic Affluence In Emerging Economies
        5.2.5. Distribution Channel
        5.2.6. Cost Consideration
        5.2.7. Regulatory Scenario
        5.2.8. Growing Geriatric Population
    5.3. Market Dynamics
        5.3.1. Drivers
        5.3.2. Restraints
        5.3.3. Opportunity Analysis
6. COVID-19 Crisis Analysis
    6.1. Current COVID-19 Statistics and Probable Future Impact
    6.2. COVID-19 and Impact Analysis
        6.2.1. Revenue By Dosage Form
        6.2.2. Revenue By Indication
        6.2.3. Revenue By End User
        6.2.4. Revenue By Country
7. Global Drug Formulation Market Demand (in Value US$ Million) Analysis 2012 to 2021 and Forecast, 2022 to 2032
    7.1. Historical Market Value (US$ Million) Analysis, 2012 to 2021
    7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
        7.2.1. Y-o-Y Growth Trend Analysis
        7.2.2. Absolute $ Opportunity Analysis
8. Global Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Dosage Form
    8.1. Introduction / Key Findings
    8.2. Historical Market Size (US$ Million) Analysis By Dosage Form, 2012 to 2021
    8.3. Current and Future Market Size (US$ Million) Analysis By Dosage Form, 2022 to 2032
        8.3.1. Oral formulations
            8.3.1.1. Tablets
                8.3.1.1.1. Immediate Release
                8.3.1.1.2. Modified Release
                8.3.1.1.3. Chewable
                8.3.1.1.4. Effervescent
            8.3.1.2. Capsules
                8.3.1.2.1. Hard Gelatin Capsules
                8.3.1.2.2. Softgel Capsules
            8.3.1.3. Powders & Granules
            8.3.1.4. Lozenges & Pastilles
            8.3.1.5. Gummies
            8.3.1.6. Others
        8.3.2. Parenteral formulations
            8.3.2.1. Solutions
            8.3.2.2. Suspensions
            8.3.2.3. Emulsions for injection or infusion
            8.3.2.4. Powders for injection or infusion
            8.3.2.5. Gels for injection implants
        8.3.3. Topical formulations
            8.3.3.1. Pastes
            8.3.3.2. Ointments and oils
            8.3.3.3. Creams, lotions, and foams.
            8.3.3.4. Gels, tinctures, and powders.
            8.3.3.5. Sprays and patches.
        8.3.4. Inhalation formulations
            8.3.4.1. Pressurized Metered Dose Inhaler
            8.3.4.2. Dry Powder Inhaler (DPI)
            8.3.4.3. Nebulizer
    8.4. Market Attractiveness Analysis By Dosage Form
9. Global Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Indication
    9.1. Introduction / Key Findings
    9.2. Historical Market Size (US$ Million) Analysis By Indication, 2012 to 2021
    9.3. Current and Future Market Size (US$ Million) Analysis Forecast By Indication, 2022 to 2032
        9.3.1. Infectious Diseases
        9.3.2. Cancer
        9.3.3. Cardiovascular Diseases
        9.3.4. Diabetes
        9.3.5. Respiratory Diseases
        9.3.6. Central Nervous System Disorders
        9.3.7. Autoimmune Diseases
        9.3.8. Gastrointestinal Disease
        9.3.9. Musculoskeletal disorders
        9.3.10. Dermatology disorders
        9.3.11. Others
    9.4. Market Attractiveness Analysis By Indication
10. Global Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By End User
    10.1. Introduction / Key Findings
    10.2. Historical Market Size (US$ Million) Analysis By End User, 2012 to 2021
    10.3. Current and Future Market Size (US$ Million) Analysis Forecast By End User, 2022 to 2032
        10.3.1. Big pharma
        10.3.2. Small & Medium Size Pharma- Companies
        10.3.3. Biotech Companies
    10.4. Market Attractiveness Analysis By End User
11. Global Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Region
    11.1. Introduction
    11.2. Historical Market Size (US$ Million) Analysis By Region, 2012 to 2021
    11.3. Current and Future Market Size (US$ Million) Analysis Forecast By Region, 2022 to 2032
        11.3.1. North America
        11.3.2. Latin America
        11.3.3. Europe
        11.3.4. South Asia
        11.3.5. East Asia
        11.3.6. Oceania
        11.3.7. Middle East & Africa (MEA)
    11.4. Market Attractiveness Analysis By Region
12. North America Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032
    12.1. Introduction
    12.2. Historical Market Size (US$ Million) By Market Taxonomy, 2012 to 2021
    12.3. Current and Future Market Size (US$ Million) By Market Taxonomy, 2022 to 2032
        12.3.1. By Country
            12.3.1.1. US
            12.3.1.2. Canada
        12.3.2. By Dosage Form
        12.3.3. By Indication
        12.3.4. By End User
    12.4. Market Attractiveness Analysis
        12.4.1. By Country
        12.4.2. By Dosage Form
        12.4.3. By Indication
        12.4.4. By End User
    12.5. Key Market Participants - Intensity Mapping
    12.6. Country-Level Analysis & Forecast
        12.6.1. U.S. Drug Formulation Market
            12.6.1.1. Introduction
            12.6.1.2. Market Analysis and Forecast By Market Taxonomy
                12.6.1.2.1. By Dosage Form
                12.6.1.2.2. By Indication
                12.6.1.2.3. By End User
        12.6.2. Canada Drug Formulation Market
            12.6.2.1. Introduction
            12.6.2.2. Market Analysis and Forecast By Market Taxonomy
                12.6.2.2.1. By Dosage Form
                12.6.2.2.2. By Indication
                12.6.2.2.3. By End User
13. Latin America Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032
    13.1. Introduction
    13.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2012 to 2021
    13.3. Current and Future Market Size (US$ Million) By Market Taxonomy, 2022 to 2032
        13.3.1. By Country
            13.3.1.1. Brazil
            13.3.1.2. Mexico
            13.3.1.3. Argentina
            13.3.1.4. Rest of Latin America
        13.3.2. By Dosage Form
        13.3.3. By Indication
        13.3.4. By End User
    13.4. Market Attractiveness Analysis
        13.4.1. By Country
        13.4.2. By Dosage Form
        13.4.3. By Indication
        13.4.4. By End User
    13.5. Key Market Participants - Intensity Mapping
    13.6. Country-Level Analysis & Forecast
        13.6.1. Brazil Drug Formulation Market
            13.6.1.1. Introduction
            13.6.1.2. Market Analysis and Forecast By Market Taxonomy
                13.6.1.2.1. By Dosage Form
                13.6.1.2.2. By Indication
                13.6.1.2.3. By End User
        13.6.2. Mexico Drug Formulation Market
            13.6.2.1. Introduction
            13.6.2.2. Market Analysis and Forecast By Market Taxonomy
                13.6.2.2.1. By Dosage Form
                13.6.2.2.2. By Indication
                13.6.2.2.3. By End User
        13.6.3. Argentina Drug Formulation Market
            13.6.3.1. Introduction
            13.6.3.2. Market Analysis and Forecast By Market Taxonomy
                13.6.3.2.1. By Dosage Form
                13.6.3.2.2. By Indication
                13.6.3.2.3. By End User
14. Europe Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032
    14.1. Introduction
    14.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2012 to 2021
    14.3. Current and Future Market Size (US$ Million) By Market Taxonomy, 2022 to 2032
        14.3.1. By Country
            14.3.1.1. Germany
            14.3.1.2. Italy
            14.3.1.3. France
            14.3.1.4. The UK
            14.3.1.5. Spain
            14.3.1.6. BENELUX
            14.3.1.7. Russia
            14.3.1.8. Rest of Europe
        14.3.2. By Dosage Form
        14.3.3. By Indication
        14.3.4. By End User
    14.4. Market Attractiveness Analysis
        14.4.1. By Country
        14.4.2. By Dosage Form
        14.4.3. By Indication
        14.4.4. By End User
    14.5. Key Market Participants - Intensity Mapping
    14.6. Country-Level Analysis & Forecast
        14.6.1. Germany Drug Formulation Market
            14.6.1.1. Introduction
            14.6.1.2. Market Analysis and Forecast By Market Taxonomy
                14.6.1.2.1. By Dosage Form
                14.6.1.2.2. By Indication
                14.6.1.2.3. By End User
        14.6.2. Italy Drug Formulation Market
            14.6.2.1. Introduction
            14.6.2.2. Market Analysis and Forecast By Market Taxonomy
                14.6.2.2.1. By Dosage Form
                14.6.2.2.2. By Indication
                14.6.2.2.3. By End User
        14.6.3. France Drug Formulation Market
            14.6.3.1. Introduction
            14.6.3.2. Market Analysis and Forecast By Market Taxonomy
                14.6.3.2.1. By Dosage Form
                14.6.3.2.2. By Indication
                14.6.3.2.3. By End User
        14.6.4. U.K. Drug Formulation Market
            14.6.4.1. Introduction
            14.6.4.2. Market Analysis and Forecast By Market Taxonomy
                14.6.4.2.1. By Dosage Form
                14.6.4.2.2. By Indication
                14.6.4.2.3. By End User
        14.6.5. Spain Drug Formulation Market
            14.6.5.1. Introduction
            14.6.5.2. Market Analysis and Forecast By Market Taxonomy
                14.6.5.2.1. By Dosage Form
                14.6.5.2.2. By Indication
                14.6.5.2.3. By End User
        14.6.6. BENELUX Drug Formulation Market
            14.6.6.1. Introduction
            14.6.6.2. Market Analysis and Forecast By Market Taxonomy
                14.6.6.2.1. By Dosage Form
                14.6.6.2.2. By Indication
                14.6.6.2.3. By End User
        14.6.7. Russia Drug Formulation Market
            14.6.7.1. Introduction
            14.6.7.2. Market Analysis and Forecast By Market Taxonomy
                14.6.7.2.1. By Dosage Form
                14.6.7.2.2. By Indication
                14.6.7.2.3. By End User
15. South Asia Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032
    15.1. Introduction
    15.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2012 to 2021
    15.3. Current and Future Market Size (US$ Million) By Market Taxonomy, 2022 to 2032
        15.3.1. By Country
            15.3.1.1. India
            15.3.1.2. Thailand
            15.3.1.3. Indonesia
            15.3.1.4. Malaysia
            15.3.1.5. Rest of South Asia
        15.3.2. By Dosage Form
        15.3.3. By Indication
        15.3.4. By End User
    15.4. Market Attractiveness Analysis
        15.4.1. By Country
        15.4.2. By Dosage Form
        15.4.3. By Indication
        15.4.4. By End User
    15.5. Key Market Participants - Intensity Mapping
    15.6. Country-Level Analysis & Forecast
        15.6.1. India Drug Formulation Market
            15.6.1.1. Introduction
            15.6.1.2. Market Analysis and Forecast By Market Taxonomy
                15.6.1.2.1. By Dosage Form
                15.6.1.2.2. By Indication
                15.6.1.2.3. By End User
        15.6.2. Thailand Drug Formulation Market
            15.6.2.1. Introduction
            15.6.2.2. Market Analysis and Forecast By Market Taxonomy
                15.6.2.2.1. By Dosage Form
                15.6.2.2.2. By Indication
                15.6.2.2.3. By End User
        15.6.3. Indonesia Drug Formulation Market
            15.6.3.1. Introduction
            15.6.3.2. Market Analysis and Forecast By Market Taxonomy
                15.6.3.2.1. By Dosage Form
                15.6.3.2.2. By Indication
                15.6.3.2.3. By End User
        15.6.4. Malaysia Drug Formulation Market
            15.6.4.1. Introduction
            15.6.4.2. Market Analysis and Forecast By Market Taxonomy
                15.6.4.2.1. By Dosage Form
                15.6.4.2.2. By Indication
                15.6.4.2.3. By End User
16. East Asia Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032
    16.1. Introduction
    16.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2012 to 2021
    16.3. Market Size (US$ Million) By Market Taxonomy, 2022 to 2032
        16.3.1. By Country
            16.3.1.1. China
            16.3.1.2. Japan
            16.3.1.3. South Korea
        16.3.2. By Dosage Form
        16.3.3. By Indication
        16.3.4. By End User
    16.4. Market Attractiveness Analysis
        16.4.1. By Country
        16.4.2. By Dosage Form
        16.4.3. By Indication
        16.4.4. By End User
    16.5. Key Market Participants - Intensity Mapping
    16.6. Country-Level Analysis & Forecast
        16.6.1. China Drug Formulation Market
            16.6.1.1. Introduction
            16.6.1.2. Market Analysis and Forecast By Market Taxonomy
                16.6.1.2.1. By Dosage Form
                16.6.1.2.2. By Indication
                16.6.1.2.3. By End User
        16.6.2. Japan Drug Formulation Market
            16.6.2.1. Introduction
            16.6.2.2. Market Analysis and Forecast By Market Taxonomy
                16.6.2.2.1. By Dosage Form
                16.6.2.2.2. By Indication
                16.6.2.2.3. By End User
        16.6.3. South Korea Drug Formulation Market
            16.6.3.1. Introduction
            16.6.3.2. Market Analysis and Forecast By Market Taxonomy
                16.6.3.2.1. By Dosage Form
                16.6.3.2.2. By Indication
                16.6.3.2.3. By End User
17. Oceania Drug Formulation Market Analysis 2012 to 2021 and Forecast 2022 to 2032
    17.1. Introduction
    17.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2012 to 2021
    17.3. Market Size (US$ Million) By Market Taxonomy, 2022 to 2032
        17.3.1. By Country
            17.3.1.1. Australia
            17.3.1.2. New Zealand
        17.3.2. B By Dosage Form
        17.3.3. By Indication
        17.3.4. By End User
    17.4. Market Attractiveness Analysis
        17.4.1. By Country
        17.4.2. By Dosage Form
        17.4.3. By Indication
        17.4.4. By End User
    17.5. Country-Level Analysis & Forecast
        17.5.1. Australia Drug Formulation Market
            17.5.1.1. Introduction
            17.5.1.2. Market Analysis and Forecast By Market Taxonomy
                17.5.1.2.1. By Dosage Form
                17.5.1.2.2. By Indication
                17.5.1.2.3. By End User
        17.5.2. New Zealand Drug Formulation Market
            17.5.2.1. Introduction
            17.5.2.2. Market Analysis and Forecast By Market Taxonomy
                17.5.2.2.1. By Dosage Form
                17.5.2.2.2. By Indication
                17.5.2.2.3. By End User
18. Middle East and Africa Drug Formulation Market Analysis 2012 to 2021and Forecast 2022 to 2032
    18.1. Introduction
    18.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2012 to 2021
    18.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
        18.3.1. By Country
            18.3.1.1. GCC Countries
            18.3.1.2. Turkey
            18.3.1.3. Israel
            18.3.1.4. South Africa
            18.3.1.5. North Africa
            18.3.1.6. Rest of Middle East and Africa
        18.3.2. By Dosage Form
        18.3.3. By Indication
        18.3.4. By End User
    18.4. Market Attractiveness Analysis
        18.4.1. By Country
        18.4.2. By Dosage Form
        18.4.3. By Indication
        18.4.4. By End User
    18.5. Key Market Participants - Intensity Mapping
    18.6. Country-Level Analysis & Forecast
        18.6.1. GCC Countries Drug Formulation Market
            18.6.1.1. Introduction
            18.6.1.2. Market Analysis and Forecast By Market Taxonomy
                18.6.1.2.1. By Dosage Form
                18.6.1.2.2. By Indication
                18.6.1.2.3. By End User
        18.6.2. Turkey Drug Formulation Market
            18.6.2.1. Introduction
            18.6.2.2. Market Analysis and Forecast By Market Taxonomy
                18.6.2.2.1. By Dosage Form
                18.6.2.2.2. By Indication
                18.6.2.2.3. By End User
        18.6.3. Egypt Drug Formulation Market
            18.6.3.1. Introduction
            18.6.3.2. Market Analysis and Forecast By Market Taxonomy
                18.6.3.2.1. By Dosage Form
                18.6.3.2.2. By Indication
                18.6.3.2.3. By End User
        18.6.4. South Africa Drug Formulation Market
            18.6.4.1. Introduction
            18.6.4.2. Market Analysis and Forecast By Market Taxonomy
                18.6.4.2.1. By Dosage Form
                18.6.4.2.2. By Indication
                18.6.4.2.3. By End User
        18.6.5. North Africa Drug Formulation Market
            18.6.5.1. Introduction
            18.6.5.2. Market Analysis and Forecast By Market Taxonomy
                18.6.5.2.1. By Dosage Form
                18.6.5.2.2. By Indication
                18.6.5.2.3. By End User
19. Market Structure Analysis
    19.1. Market Analysis By Tier of Companies
    19.2. Market Share Analysis of Top Players
    19.3. Market Presence Analysis
20. Competition Analysis
    20.1. Competition Dashboard
    20.2. Competition Deep Dive
        20.2.1. AstraZeneca plc.
            20.2.1.1. Overview
            20.2.1.2. Product Portfolio
            20.2.1.3. SWOT Analysis
            20.2.1.4. Strategy Overview
                20.2.1.4.1. Marketing Strategies
                20.2.1.4.2. Product Strategies
                20.2.1.4.3. Channel Strategies
        20.2.2. Bristol-Myers Squibb
            20.2.2.1. Overview
            20.2.2.2. Product Portfolio
            20.2.2.3. SWOT Analysis
            20.2.2.4. Strategy Overview
                20.2.2.4.1. Marketing Strategies
                20.2.2.4.2. Product Strategies
                20.2.2.4.3. Channel Strategies
        20.2.3. Eli Lilly and Company
            20.2.3.1. Overview
            20.2.3.2. Product Portfolio
            20.2.3.3. SWOT Analysis
            20.2.3.4. Strategy Overview
                20.2.3.4.1. Marketing Strategies
                20.2.3.4.2. Product Strategies
                20.2.3.4.3. Channel Strategies
        20.2.4. Gilead Sciences, Inc.
            20.2.4.1. Overview
            20.2.4.2. Product Portfolio
            20.2.4.3. SWOT Analysis
            20.2.4.4. Strategy Overview
                20.2.4.4.1. Marketing Strategies
                20.2.4.4.2. Product Strategies
                20.2.4.4.3. Channel Strategies
        20.2.5. Merck & Co., Inc.
            20.2.5.1. Overview
            20.2.5.2. Product Portfolio
            20.2.5.3. SWOT Analysis
            20.2.5.4. Strategy Overview
                20.2.5.4.1. Marketing Strategies
                20.2.5.4.2. Product Strategies
                20.2.5.4.3. Channel Strategies
        20.2.6. Novartis AG
            20.2.6.1. Overview
            20.2.6.2. Product Portfolio
            20.2.6.3. SWOT Analysis
            20.2.6.4. Strategy Overview
                20.2.6.4.1. Marketing Strategies
                20.2.6.4.2. Product Strategies
                20.2.6.4.3. Channel Strategies
        20.2.7. Pfizer Inc.
            20.2.7.1. Overview
            20.2.7.2. Product Portfolio
            20.2.7.3. SWOT Analysis
            20.2.7.4. Strategy Overview
                20.2.7.4.1. Marketing Strategies
                20.2.7.4.2. Product Strategies
                20.2.7.4.3. Channel Strategies
        20.2.8. AbbVie Inc.
            20.2.8.1. Overview
            20.2.8.2. Product Portfolio
            20.2.8.3. SWOT Analysis
            20.2.8.4. Strategy Overview
                20.2.8.4.1. Marketing Strategies
                20.2.8.4.2. Product Strategies
                20.2.8.4.3. Channel Strategies
        20.2.9. Boehringer Ingelheim International GmbH
            20.2.9.1. Overview
            20.2.9.2. Product Portfolio
            20.2.9.3. SWOT Analysis
            20.2.9.4. Strategy Overview
                20.2.9.4.1. Marketing Strategies
                20.2.9.4.2. Product Strategies
                20.2.9.4.3. Channel Strategies
        20.2.10. F. Hoffmann-La Roche AG
            20.2.10.1. Overview
            20.2.10.2. Product Portfolio
            20.2.10.3. SWOT Analysis
            20.2.10.4. Strategy Overview
                20.2.10.4.1. Marketing Strategies
                20.2.10.4.2. Product Strategies
                20.2.10.4.3. Channel Strategies
        20.2.11. Johnson & Johnson
            20.2.11.1. Overview
            20.2.11.2. Product Portfolio
            20.2.11.3. SWOT Analysis
            20.2.11.4. Strategy Overview
                20.2.11.4.1. Marketing Strategies
                20.2.11.4.2. Product Strategies
                20.2.11.4.3. Channel Strategies
        20.2.12. 3M Company
            20.2.12.1. Overview
            20.2.12.2. Product Portfolio
            20.2.12.3. SWOT Analysis
            20.2.12.4. Strategy Overview
                20.2.12.4.1. Marketing Strategies
                20.2.12.4.2. Product Strategies
                20.2.12.4.3. Channel Strategies
        20.2.13. Bayer AG
            20.2.13.1. Overview
            20.2.13.2. Product Portfolio
            20.2.13.3. SWOT Analysis
            20.2.13.4. Strategy Overview
                20.2.13.4.1. Marketing Strategies
                20.2.13.4.2. Product Strategies
                20.2.13.4.3. Channel Strategies
        20.2.14. Teva Pharmaceuticals Industries Ltd.
            20.2.14.1. Overview
            20.2.14.2. Product Portfolio
            20.2.14.3. SWOT Analysis
            20.2.14.4. Strategy Overview
                20.2.14.4.1. Marketing Strategies
                20.2.14.4.2. Product Strategies
                20.2.14.4.3. Channel Strategies
        20.2.15. Amgen, Inc.
            20.2.15.1. Overview
            20.2.15.2. Product Portfolio
            20.2.15.3. SWOT Analysis
            20.2.15.4. Strategy Overview
                20.2.15.4.1. Marketing Strategies
                20.2.15.4.2. Product Strategies
                20.2.15.4.3. Channel Strategies
        20.2.16. Sanofi SA
            20.2.16.1. Overview
            20.2.16.2. Product Portfolio
            20.2.16.3. SWOT Analysis
            20.2.16.4. Strategy Overview
                20.2.16.4.1. Marketing Strategies
                20.2.16.4.2. Product Strategies
                20.2.16.4.3. Channel Strategies
        20.2.17. GlaxoSmithKline plc
            20.2.17.1. Overview
            20.2.17.2. Product Portfolio
            20.2.17.3. SWOT Analysis
            20.2.17.4. Strategy Overview
                20.2.17.4.1. Marketing Strategies
                20.2.17.4.2. Product Strategies
                20.2.17.4.3. Channel Strategies
        20.2.18. Boston Scientific Corporation
            20.2.18.1. Overview
            20.2.18.2. Product Portfolio
            20.2.18.3. SWOT Analysis
            20.2.18.4. Strategy Overview
                20.2.18.4.1. Marketing Strategies
                20.2.18.4.2. Product Strategies
                20.2.18.4.3. Channel Strategies
        20.2.19. Gerresheimer AG
            20.2.19.1. Overview
            20.2.19.2. Product Portfolio
            20.2.19.3. SWOT Analysis
            20.2.19.4. Strategy Overview
                20.2.19.4.1. Marketing Strategies
                20.2.19.4.2. Product Strategies
                20.2.19.4.3. Channel Strategies
        20.2.20. Nimbus Therapeutics
            20.2.20.1. Overview
            20.2.20.2. Product Portfolio
            20.2.20.3. SWOT Analysis
            20.2.20.4. Strategy Overview
                20.2.20.4.1. Marketing Strategies
                20.2.20.4.2. Product Strategies
                20.2.20.4.3. Channel Strategies
        20.2.21. Antares Pharma, Inc.
            20.2.21.1. Overview
            20.2.21.2. Product Portfolio
            20.2.21.3. SWOT Analysis
            20.2.21.4. Strategy Overview
                20.2.21.4.1. Marketing Strategies
                20.2.21.4.2. Product Strategies
                20.2.21.4.3. Channel Strategies
        20.2.22. IDEAYA Biosciences, Inc.
            20.2.22.1. Overview
            20.2.22.2. Product Portfolio
            20.2.22.3. SWOT Analysis
            20.2.22.4. Strategy Overview
                20.2.22.4.1. Marketing Strategies
                20.2.22.4.2. Product Strategies
                20.2.22.4.3. Channel Strategies
21. Assumptions and Acronyms Used
22. Research Methodology
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