Formulation Development Outsourcing Market

Formulation Development Outsourcing Market Size, Share, Growth Analysis, By Service(Preformulation, Formulation Development), By Formulation(Oral, Injectable, Topical, Others), By Therapeutic Area(Oncology, Infectious Diseases, Neurology, Hematology), By Regional(North America, Asia Pacific, Latin America) - Industry Forecast 2024-2031


Report ID: UCMIG35A2254 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Formulation Development Outsourcing Market Insights

Market Overview:

The global formulation development outsourcing market was valued at USD 31.0 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.2% from 2022 to 2030. The increasing demand for new drugs due to the high burden of chronic and infectious diseases, patent expirations, and the need to improve bioavailability of poorly water-soluble compounds are driving the demand for formulation development services. Additionally, the growing focus on overcoming the risks associated with drug development, such as high costs and regulatory challenges, is further contributing to the market growth. Outsourcing formulation development services allows pharmaceutical companies to access specialized expertise and resources, thereby accelerating the drug development process and reducing costs, which is driving the growth of the formulation development outsourcing market in the forecast period.

Formulation Development Outsourcing Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Health Care Equipment by segment aggregation, the contribution of the Health Care Equipment in Health Care Equipment & Services and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

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FAQs

The market for Formulation Development Outsourcing was estimated to be valued at US$ XX Mn in 2021.

The Formulation Development Outsourcing Market is estimated to grow at a CAGR of XX% by 2028.

The Formulation Development Outsourcing Market is segmented on the basis of Service, Formulation, Therapeutic Area, Regional.

Based on region, the Formulation Development Outsourcing Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Formulation Development Outsourcing Market are SGS S.A., Intertek Group plc, Recipharm, Lonza, Charles River Laboratories International, Inc., Eurofins Scientific SE, Element, Labcorp, Thermo Fisher Scientific, Inc. (Patheon), Catalent Inc..

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Formulation Development Outsourcing Market

Report ID: UCMIG35A2254

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