s 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 organizations 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.
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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.
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.