SHERIDAN, WYOMING, UNITED STATES, December 9, 2021 /EINPresswire.com/ – According to the latest IMARC group report, entitled “Global Formulation Development Outsourcing Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026 â, the market is expected to grow at a CAGR of XX% during 2021-2026.
Formulation development is a major area of ââdrug development that helps determine the patentability, shelf life and success of pharmaceuticals. It also includes preformulation activities, such as the development and characterization of analytical assays and the screening of excipients to improve product solubility. It is usually outsourced to save time and expense involved in the process. Outsourcing formulation development also offers benefits such as reduced lead times, access to expertise and the provision of additional protection against product failure.
As the novel coronavirus (COVID-19) crisis takes over the world, we are constantly monitoring changes in the markets, as well as the industrial behaviors of consumers around the world and our estimates on the latest market trends and forecasts are made afterwards. examining the impact of this pandemic.
Formulation Development Outsourcing Market Trends:
The growing need to develop the novel medications due to the increasing expiration of patents of several pharmaceutical products, is stimulating the market. In addition, the increasing prevalence of diabetes, chronic obstructive pulmonary disease (COPD), cancer, asthma, arthritis and Alzheimer’s disease positively influences the sales of new drugs. This, along with the growing need to minimize the risk and expense involved in drug development, is propelling the growth of the formulation development outsourcing market. Additionally, large pharmaceutical and biotech companies partner with outsourcing services early in the process. This, together with the increase in healthcare spending and significant investments in research and development (R&D), contributes to the growth of the market.
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2021-2026 Formulation Development Outsourcing Market Analysis and Segmentation:
The competitive landscape of the market has been studied in the report along with the detailed profiles of the major 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 of region, disc type, material type, and end user.
Breakdown by department:
â¢ Preformulation services
o Discovery and preclinical services
o Analytical services
â¢ Optimization of the formulation
o Phase I
o Phase II
o Phase III
o Phase IV
Breakdown by dosage form:
Breakdown by application:
â¢ Genetic disorders
â¢ Infectious diseases
Breakdown by end user:
â¢ Pharmaceutical and biopharmaceutical companies
â¢ Governments and university institutes
Breakdown by region:
â¢ North America: (United States, Canada)
â¢ Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, others)
â¢ Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, others)
â¢ Latin America: (Brazil, Mexico, others)
â¢ Middle East and Africa
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Highlights of the report:
â¢ Market performance (2015-2020)
â¢ Market outlook (2021-2026)
â¢ Porter’s five forces analysis
â¢ Market drivers and success factors
â¢ SWOT analysis
â¢ Value chain
â¢ Complete 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 part of the customization.
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