What is formulation development outsourcing, and how does it impact the pharmaceutical industry?

Formulation development outsourcing involves the delegation of pharmaceutical formulation research and development activities to external service providers. Pharmaceutical companies can utilize expertise, reduce costs, and accelerate drug formulation development - thus spurring innovation and hastening market delivery of new therapies.

How big is formulation development outsourcing market?

In 2023, the global formulation development outsourcing market accounted for USD 37.2 billion and is expected to grow to around USD 67.7 billion in 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 7.1%.

Which segment accounted for the largest formulation development outsourcing market share?

North America Accounted for the Largest Revenue Share in Formulation Development Outsourcing Market in 2022.

What are the factors driving the growth of the formulation development outsourcing market?

The formulation development outsourcing market is primarily driven by factors such as the increasing complexity of drug formulations, the rising demand for specialized expertise in formulation technologies, the need for accelerated time-to-market for pharmaceutical products, and the emphasis on cost optimization and risk mitigation in the drug development process. Additionally, the growing prevalence of chronic diseases and the expansion of the generic and biopharmaceutical sectors are further fueling the demand for formulation development outsourcing services.

Global Formulation Development Outsourcing Market by Service (Preformulations, Formulation Development), By Formulation (Oral, Injectable, Topical, Inhaled), By Application (Oncology, Infectious Diseases, Neurology, Hematology, Respiratory, Cardiovascular, Dermatology), By End-User (Pharmaceutical Industries, Research and Academic Institutes, Other End-Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Published date: Nov. 2023
Report ID: 83445
Number of Pages: 252
Format:

- SGS S.A.
- Intertek Group plc.
- Recipharm AB
- Lonza Group AG Company Profile
- Charles River Laboratories International Inc.
- Eurofins Scientific SE
- Anglo American Plc Company Profile
- Labcorp
- Thermo Fisher Scientific Company Profile
- Catalent Inc.
- Laboratory Corporation of America
- Intertek
- Quotient Sciences
- Dr. Reddys Laboratories Ltd Company Profile
- Emergent Biosolutions Inc.
- Aizant Drug Research Solutions Pvt. Ltd.
- Other Key Players