By 2027, the oral solid dosage (OSD) market is set to be worth $926 billion according to research group Future Market Insights.
Progress
The group’s latest report focusses on the OSD market, stating that from 2017 – 2027 the market will see a CAGR of 6.5%.
The market’s anticipated growth isn’t entirely surprising, especially when you consider that OSD forms are the most commonly used pharmaceuticals to treat a variety of conditions and diseases.
Recently there has been a huge boost in the Asian Pacific Excluding Japan (APEJ) market due to consumers in countries such as India, China and Korea. The adoption of Western lifestyles across populations in India and China is causing a rise in western lifestyle diseases such as diabetes, cancer and obesity, leading to an uptake in innovative drug treatments.
New global opportunities are being made by generic manufacturers producing modified versions of approved off patent small-molecule drugs. These so called ‘super-generics’ offer a therapeutic advantage, distinguishing them from regular generic drugs. The report gives the example of the once-a day Ciprofloxacin tablet, developed by India-based manufacturer, Ranbaxy Laboratories, who licensed the ‘super-generic’ to Bayer.
The OSD market however is being hindered by the growing research on biologics molecules, which hold a dominance in treating oncology, the report states. More so, funding into biologics by governments are now starting to have a negative impact on the OSD market.