The global formulation development outsourcing industry

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Dublin, 20 July 2022 (GLOBE NEWSWIRE) — The “Global Formulation Development Outsourcing Market Size, Share and Trend Analysis Report by Service (Preformulation, Formulation Development), by Formulation (Oral, Injectable ), by Therapeutic Area, by Region, and Segment Forecasts, 2022-2030″ report has been added to from ResearchAndMarkets.com offer.

The global formulation development outsourcing market size is expected to reach USD 61.4 billion by 2030. The market is expected to grow at a CAGR of 7.2% from 2022 to 2030.

The high burden of chronic and infectious diseases, increasing emphasis on improving the bioavailability of poorly soluble drugs, and complications associated with drug development contribute to the global demand for formulation development services. Additionally, the COVID-19 outbreak has influenced the need for clinical trials to find an effective treatment for the contagious virus. This has resulted in significant investment in research and development (R&D) to develop therapies, which is expected to drive the market.

According to Pharma R&D Annual Review 2022, biopharmaceuticals and cancer drugs are the top drugs in development stage in 2022, this should improve the demand for formulation development of these drugs after the pandemic. Pharmaceutical companies around the world make significant contributions to R&D activities. For example, Merck’s R&D costs were $2,516.8 million in 2020 compared to $2,494.8 million in 2019. Similarly, Biogen’s R&D expenses were $3,990.9 million in 2020. the company’s R&D expenditure increased by 75% compared to 2019. The significant increase in R&D expenditure is likely to have a positive impact on the market.

A significant number of drugs fail late-stage clinical trials due to complications associated with formulation development. Additionally, stringent regulations regarding drug development further contribute to the demand for formulation development outsourcing. These factors are expected to improve the demand for formulation development outsourcing. The incidence of COVID-19 has been drastically reduced due to the increasing vaccination campaign around the world.

As a result, the CRO and CDMO are once again focusing on drug development for oncology and other disorders. For example, in April 2022, Labcorp collaborated with Xcell Biosciences to support the company in the development of cell and gene therapies for the treatment of cancer, Parkinson’s disease and other rare diseases. Such CDMO initiatives are likely to drive demand for outsourcing the formulation development of drugs used in the treatment of cancer and other rare diseases.

Highlights of the Formulation Development Outsourcing Market Report

  • On a services basis, the preformulation segment is expected to witness a CAGR of 6.8% during the forecast period owing to the growing demand for new drugs owing to the high disease burden globally.
  • On the basis of formulation, the injectables segment is expected to grow with a fastest CAGR of 7.8% over the forecast period due to the high bioavailability of parent formulations.
  • Based on therapeutic area, the oncology segment is expected to experience the fastest CAGR of 8.4% vs. forecast due to the high cancer burden globally, contributing to the demand for formulation development of new drugs.
  • Asia-Pacific held the largest revenue share in 2021 due to the presence of a significant number of CROs providing cost-effective formulation development services.

Main topics covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Formulation Development Outsourcing Market: Variables, Trends and Scope
3.1 Sector outlook
3.2 Mapping of penetration and growth prospects
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 High R&D spending by pharmaceutical and biotech companies
3.3.1.2 Complications associated with formulation development
3.3.1.3 Profitability of Formulation Outsourcing Services
3.3.2 Market Restraint Analysis
3.2.2.1 Limited outsourcing by established pharmaceutical companies
3.4 Formulation Development Outsourcing Market Analysis Tools
3.4.1 Porter’s Five Forces Analysis
3.4.2 PESTEL analysis
3.4.3 Analysis of major transactions and strategic alliances
3.5 COVID-19 Impact Analysis

Chapter 4 Formulation Development Outsourcing Market: Service Segment Analysis
4.1 Definitions and scope
4.2 Formulation Development Outsourcing Market: Services Share Analysis, 2021 & 2030
4.3 Preformulation
4.3.1 Preformulation Market, 2018-2030 (Million USD)
4.4. Formula development
4.4.1 Formulation Development Market, 2018-2030 (USD Million)

Chapter 5 Formulation Development Outsourcing Market: Formulation Segment Analysis
5.1 Definition and scope
5.2 Formulation Development Outsourcing Market: Formulation Share Analysis, 2021 & 2030
5.3 Oral
5.3.1 Oral Market, 2018-2030 (Million USD)
5.4 Injection table
5.4.1 Injectables Market, 2018-2030 (Million USD)
5.5. Topical
5.5.1 News Market, 2018-2030 (Million USD)
5.6 Others
5.6.1 Other Markets, 2018-2030 (Million USD)

Chapter 6 Formulation Development Outsourcing Market: Therapeutic Area Segment Analysis
6.1 Definitions and scope
6.2 Formulation Development Outsourcing Market: Therapeutic Area Share Analysis, 2021 & 2030
6.3 Oncology
6.3.1 Oncology Market, 2018-2030 (Million USD)
6.4 Infectious Diseases
6.4.1 Infectious Disease Market, 2018-2030 (Million USD)
6.5 Neurology
6.5.1 Neurology Market, 2018-2030 (Million USD)
6.6 Hemology
6.61 Hematology Market, 2018-2030 (Million USD)
6.7 Respiratory
6.7.1 Respiratory Market, 2018-2030 (Million USD)
6.8 Cardiovascular
6.8.1 Cardiovascular Market, 2018-2030 (Million USD)
6.9 Dermatology
6.9.1 Dermatology Market, 2018-2030 (Million USD)
6.10 Others
6.10.1 Others Market, 2018-2030 (Million USD)

Chapter 7 Formulation Development Outsourcing Market: Regional Analysis

Chapter 8 Company Profiles
8.1 Company Profiles
8.1.1 SGS SA
8.1.1.1 Presentation of the company
8.1.1.2 Financial performance
8.1.1.3 Service Benchmarking
8.1.1.4 Strategic initiatives
8.1.2 Intertek Group plc
8.1.2.1 Presentation of the company
8.1.2.2 Financial performance
8.1.2.3 Benchmarking services
8.1.3 Recipharm
8.1.3.1 Company Overview
8.1.3.2 Financial performance
8.1.3.3 Service Benchmarking
8.1.3.4 Strategic initiatives
8.1.4 Lonza
8.1.4.1 Presentation of the company
8.1.4.2 Financial performance
8.1.4.3 Service Benchmarking
8.1.4.4 Strategic initiatives
8.1.5 Charles River Laboratories International, Inc.
8.1.5.1 Presentation of the company
8.1.5.2 Financial performance
8.1.5.3 Service Benchmarking
8.1.5.4 Strategic initiatives
8.1.6 Eurofins Scientific SE
8.1.6.1 Presentation of the company
8.1.6.2 Financial performance
8.1.6.3 Service Benchmarking
8.1.6.4 Strategic initiatives
8.1.7 Catalent Inc.
8.1.7.1 Presentation of the company
8.1.7.2 Financial performance
8.1.7.3 Service Benchmarking
8.1.7.4 Strategic initiatives
8.1.8 Thermo Fisher Scientific, Inc. (Patheon)
8.1.8.1 Presentation of the company
8.1.8.2 Financial performance
8.1.8.3 Service Benchmarking
8.1.8.4 Strategic initiatives
8.1.9 Labcorp
8.1.9.1 Company Overview
8.1.9.2 Financial performance
8.1.9.3 Service Benchmarking
8.1.9.4 Strategic initiatives
8.1.10 Element
8.1.10.1 Company Overview
8.1.10.2 Financial performance
8.1.10.3 Service Benchmarking
8.1.10.4 Strategic initiatives

For more information about this report visit https://www.researchandmarkets.com/r/5wlpsl

  • Global Formulation Development Outsourcing Market


        
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