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 novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Formulation
Development Outsourcing Market Trends:
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.
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Formulation
Development Outsourcing Market 2022-2027 Analysis and Segmentation:
Competitive
Landscape:
The competitive landscape
of the market has been studied in the report with the detailed profiles of the
key players operating in the market.
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, disc type, material type and 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:
- Injectable
- Oral
- Topical
- Others
Breakup
by Application:
- Oncology
- Genetic Disorders
- Neurology
- Infectious Diseases
- Respiratory
- Cardiovascular
- Others
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
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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.
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and secondary data (2022-2027) with Cost Module, Business Strategy,
Distribution Channel, etc. Click request free sample report, published report
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receiving full payment.
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