Formulation Development Outsourcing Market 2022: Size, Share, Analysis, Growth, Trends & Forecast 2027
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. As the no...