According to the latest report by IMARC Group, titled “Formulation Development Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global formulation development outsourcing market size reached US$ 21.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 31.8 Billion by 2027, exhibiting at a CAGR of 6.3% during 2022-2027.
Formulation development is a major area of drug development that assists in determining the patentability, lifespan, and success of pharmaceutical products. It also includes pre-formulation activities, such as analytical assay development and characterization and excipient screening to enhance the solubility of products. It is generally outsourced to save time and expenses involved in the process. Formulation development outsourcing also offers advantages like compressing deadlines, accessing expertise and providing additional protection against product failure.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request Free Sample Report: https://www.imarcgroup.com/formulation-development-outsourcing-market/requestsample
The rising need to develop novel drugs on account of the growing patent expirations of several pharmaceuticals is driving the market. Moreover, the increasing prevalence of diabetes, chronic obstructive pulmonary disease (COPD), cancer, asthma, arthritis, and Alzheimer’s disease is positively influencing the sales of new drugs. This, along with the rising need to minimize the risk and expenditure involved in the drug development, is propelling the market growth of formulation development outsourcing. Furthermore, major pharmaceutical and biotechnological companies are partnering with outsourcing services in the early stage of the process. This, in confluence with the increasing healthcare expenditure and extensive investments in research and development (R&D), is contributing to the market growth.
Base Year: 2021
Forecast Year: 2022-2027
Formulation Development Outsourcing Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape Key Player:
Aizant Drug Research Solutions Private Limited, Catalent Inc., Charles River Laboratories, Dr. Reddy’s Laboratories Ltd., Emergent BioSolutions Inc., Intertek Group plc, Irisys LLC (Recro Pharma), Laboratory Corporation of America Holdings, Lonza Group AG, Piramal Pharma Solutions, Quotient Sciences, Syngene International Limited (Biocon Limited) and Thermo Fisher Scientific Inc.
The report has segmented the market on the basis on region, service, dosage form, application, end user.
Breakup by Service:
- Pre-formulation Services
- Discovery and Preclinical Services
- Analytical Services
- Formulation Optimization
- Phase I
- Phase II
- Phase III
- Phase IV
Breakup by Dosage Form:
Breakup by Application:
- Genetic Disorders
- Infectious Diseases
Breakup by End User:
- Pharmaceutical and Biopharmaceutical Companies
- Government and Academic Institutes
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/formulation-development-outsourcing-market
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800