Outsourced Clinical Trials and Formulation Market 2022-2032
New study reports “ Outsourced Clinical Trials and Formulation Market 2022 Global Market Opportunities, Challenges, Strategies and Forecast 2032″ has been added on PMR.
Formulation development, a crucial part of product/drug development, has had a tremendous impact on the patentability, sustainability and success of pharmaceutical products. The global outsourced clinical trial and formulation market recorded sales worth US$13.3 billion in 2021 and is expected to grow at a CAGR of 6.7% over the forecast period (2022-2032) .
The report has profiled some of the important players prevailing in the world like – Thermo Fisher Scientific Inc. (Patheon), Piramal Pharma Solutions, BioXcellence (Boehringer Ingelheim International GmbH), Siegfried Holding AG, Evotec AG, Ascendia Pharmaceuticals, Experic Services, Quotient Sciences, Velesco Pharmaceutical Services, Inc., Elements Group (Avomeen), VxP Pharma, Adare Pharmaceuticals, Inc., KP Pharmaceutical Technology Inc., Enteris Biopharma, Inc., Aenova Holding GmbH, Ardena Holding NV, Pharmaceutics International, Inc., Alcami Corporation, Inc., NextPharma Technologies, Corden Pharma International GmbH, Corerx , Inc., Recipharm AB, Pace Analytical Services, LLC, Almac Group, Inc., Cambrex Corporation, Rottendorf Pharma GmbH, Glatt GmbH, Hovione, Aphena Pharma Solutions, HERMES PHARMA Ltd, Lonza Group, Catalent, etc.
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This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Outsourced Clinical Trials and Formulation market.
In recent years, pharmaceutical companies have focused their efforts on their core competencies. To reduce the time and money spent on testing, most pharmaceutical companies outsource formulation services. Outsourcing allows the use of the therapeutic and operational knowledge, geographic reach, and well-established procedures and tools of CROs, while reserving their own limited resources for value-added tasks. The trend towards drug discovery in specific therapeutic areas such as cancer is also significant. Small and medium organizations can outsource clinical trials in these areas if they do not have the therapeutic area expertise and/or resources to manufacture the product independently.
Rising geriatric populations and increasing prevalence of chronic diseases are prompting CDMOs to develop new products to expedite treatment procedures by pharmaceutical companies. The role of CDMOs is to simplify the supply chain and introduce new products to the market, which, in turn, will increase the growth of CDMOs in the market. An increase in therapeutic applications of biologics and an increased share of molecules in the pipeline will drive the development of contracts and the growth of the manufacturing market.
As the outsourced clinical trials and formulation market has emerging key players across the globe, it will provide lucrative prospects for new market players to establish their presence and expand their business. Larger, full-service CDMOs can improve efficiency and reduce time to market for customers, as well as earn better margins, grow faster, and have greater capacity for capital investment and funding through better access to integrated capital services.
- For example, on December 1, 2021, Adare Pharma Solutions acquired Frontida BioPharm to expand core CDMO offerings.
Key insights from market research
- The oral dosage form dominates the product segment in terms of revenue and accounted for more than 61% market share in 2021.
- With over 46% market share, API manufacturing is the leading segment by application.
- Small and medium-sized pharmaceutical/biotech companies held more than half of the global market share in 2021.
- The North American market for outsourced clinical trials and formulations accounted for more than 40% of the global market share in 2021.
“Expiring patents and growing demand for generic drugs will drive demand for outsourced clinical trials and formulations over the next few years,” says an analyst from Persistence Market Research.
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Regional Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (United States, Canada, Mexico)
Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
Asia-Pacific (China, India, Japan, Southeast Asia, etc.)
South America (Brazil, Argentina etc.)
Middle East and Africa (Saudi Arabia, South Africa, etc.)
Outsourced Manufacturers of Clinical Trial and Formulation Market
Outsourced Clinical Trials and Formulation Market Distributors/Traders/Wholesalers
Outsourced Clinical Trials and Formulation Market Subcomponent Manufacturers
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Outsourced Clinical Trials and Formulation Market – Report Highlights
- A Detailed Overview of the Parent Market of the Outsourced Clinical Trials and Formulation Market
- Changing Market Dynamics of Outsourced Clinical Trials and Formulation in Industry
- In-depth segmentation of the Outsourced Clinical Trials and Formulation Market
- Historical, current and projected Outsourced Clinical Trials and Formulation market size in terms of volume and value
- Recent industry trends and developments in the Outsourced Clinical Trials and Formulation Market
- Competitive landscape of Outsourced Clinical Trials and Formulation Market
- Strategies for key players and products offered
- Potential and niche segments, promising growth geographies
- A neutral perspective on the performance of the outsourced clinical trials and formulation market
- Must-Have Information for Outsourced Clinical Trials and Formulation Market Players to Maintain and Improve Their Market Footprints
Key Questions Answered in the Outsourced Clinical Trials and Formulation Market Report
How is the Outsourced Clinical Trials and Formulation market expected to grow during the projected period?
What direction is the Outsourced Clinical Trials and Formulation market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Outsourced Clinical Trials and Formulation market in the future?
What are the key market drivers in the Outsourced Clinical Trials and Formulation Market?
What are the important opportunities and improvement areas for manufacturers in the Outsourced Clinical Trials and Formulation market?
What are the key developments and trends in the Outsourced Clinical Trials and Formulation market?
Which are the emerging countries expected to create significant growth opportunities in the Outsourced Clinical Trials and Formulation Market?
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