Formulation Development Outsourcing Market Trends, Share, Size, Growth and Forecast 2022-27

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According to the latest report from the IMARC group, entitled 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 ahead, IMARC Group expects the market to reach US$31.8 billion by 2027, growing at a CAGR of 6.3% in 2022-2027.

Impact of Covid-19:

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

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Industry definition and application:

Formulation formulation is an important aspect of drug development that contributes to the patentability, longevity and success of pharmaceutical products. It also involves pre-formulation procedures such as the development and characterization of analytical tests, as well as the selection of excipients to improve product solubility. It is usually outsourced to save time and money on the procedure. Outsourcing formulation development also has benefits such as reducing lead times, providing access to expertise and providing additional protection against product failures.


Formulation Development Outsourcing Market Tendencies and drivers:

The market is driven by the growing need to discover new drugs as various pharmaceutical patents expire. Additionally, the rising prevalence of diabetes, chronic obstructive pulmonary disease (COPD), cancer, asthma, arthritis, and Alzheimer’s disease is driving drug sales. This, combined with the growing desire to reduce drug development risks and costs, is fueling the expansion of the formulation development outsourcing market. In addition, large pharmaceutical and biotechnology companies work with outsourcing services early in the process. This, combined with rising healthcare costs and heavy investment in research and development (R&D), is fueling the expansion of the market.

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Scope of the Formulation Development Outsourcing Market Report

Report cover

Details

Market size value in 2021

US$21.1 billion

Market forecast in 2027

US$31.8 billion

Rate of growth

CAGR of 6.3% over the period 2022-2027

Base year for the estimate

2021

Historical data

2016-2021

Forecast period

2022-2027

Report cover

Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Segments Covered

region, service, dosage form, application, end user.

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Profiled Key Companies

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.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Customization overview

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Report Segmentation:

The report has segmented the market based on region, service, dosage form, application, and end user.

Breakdown by department:

  • Pre-Formulation Services
    • Discovery and preclinical services
    • Analytical services
  • Optimization of formulations
    • Phase I
    • Stage II
    • Phase III
    • Stage IV

Breakdown by dosage form:

  • Injectable
  • Oral
  • Topical
  • Others

Breakdown by application:

  • Oncology
  • Genetic Disorders
  • Neurology
  • Infectious diseases
  • Respiratory
  • Cardiovascular
  • Others

Breakdown by end user:

  • Pharmaceutical and biopharmaceutical companies
  • Government and academic institutes

Breakdown 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

List of major key players:

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.

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About Us

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

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