Market Analysis and Insights
The formulation development outsourcing market was valued at USD 18,776.26 million in 2020, and it is projected to be worth USD 30,100.88 million by 2027, registering a CAGR of 7.34% during 2021-2027.
Key Findings of the Formulation development outsourcing Market Report:
- The increasing trend of major drugs’ patent protection expiration and the rising number of pharmaceutical and biopharmaceutical companies that are outsourcing their services are expected to fuel the growth of the formulation development outsourcing market, worldwide.
- The loss of patents over pharmaceutical drugs may boost the market traction of generic versions. Hence, the formulation development outsourcing market is expected to thrive during the forecast period.
- With the growing demand for generic medicines and biologics, the capital-intensive nature of the business, and the complex manufacturing requirements, many pharmaceutical companies have identified the potential profitability in entering a contract with a CMO (contract manufacturing outsourcing) for formulation development.
- Pharmaceutical companies are partnering with formulation development outsourcing firms in emerging countries due to the availability of skilled and low-cost manpower and quality data. Cost-cutting, chasing innovation, gaining access to specialized knowledge and technology, and increasing speed and agility are some of the significant factors encouraging pharma companies to expand the level of formulation development outsourcing. Thus, owing to above-mentioned factors, the market is expected to grow over the forecast period.
- By service, the formulation optimization segment dominated the market studied, with a revenue of USD 14,016.40 million in 2020, and it is expected to register a CAGR of 6.90% over the forecast period.
- Formulation optimization provides services such as solubility and pH profile studies, drug/excipient compatibility studies, preservative screening, selection, and testing, manufacture of lab-scale and feasibility batches, and feasibility studies.
- By dosage form, Injectable have recorded a revenue of USD 10000 million in 2020 and is expected to grow at a CAGR of 8%. The growing incidence of chronic diseases, along with rising product approval is the major factors for the growth of the studied segment.
- By Application, oncology dominated the market with a revenue of USD 4000 in 2020 and is expected to grow at 9% till 2027.
- North America is expected to dominate the overall market over the forecast period. Asia-Pacific is expected to witness the highest CAGR of 9.07% over the forecast period. The United States Formulation Development market is anticipated to witness tremendous growth in the studied market, owing to the growing burden of chronic diseases and the presence of key players in the country.
Research Methodology
Our research methodology constitutes a mix of secondary & primary research which ideally starts from exhaustive data mining, conducting primary interviews (suppliers/distributors/end-users), and formulating insights, estimates, growth rates accordingly. Final primary validation is a mandate to confirm our research findings with Key Opinion Leaders (KoLs), Industry Experts, Formulation development outsourcing includes major supplies & Independent Consultants among others
Market Segmentation
The Formulation development outsourcing market is segmented on the basis of type, application, end-use industry, and region & country.
Global Formulation development outsourcing Market by Type
Based on Formulation development outsourcing type, the market is divided into type Pre-Formulation Services, Formulation Optimization. Formulation development outsourcing market's sub-segment is expected to hold the largest market share during the forecast period. Increased demand for high-quality industrial valves in the Pharmaceuticals and Healthcare and other industries. Also to mitigate the risk of contamination is driving the demand for Formulation development outsourcing at present. The growing concern about the market and industry is expected to boost the Formulation development outsourcing market in Pharmaceuticals and Healthcare.
Global Formulation development outsourcing Market by Application
Based on Formulation development outsourcing application, the market is divided into Oncology, Genetic Disorders, Neurology, Infectious Diseases, Respiratory, Cardiovascular. Formulation development outsourcing application valves are one of the most basic and indispensable components of today's modern technological society. Market segment is expected to hold the largest market share in the global Formulation development outsourcing market.
Global Market Scope and Formulation development outsourcing Market Size
The scope of the report is to provide a 360-degree view of the market by assessing the entire value chain and analyzing the key Formulation development outsourcing market trends from 2021 to 2027 underlying in specific geographies. Qualitative and quantitative aspects are interlinked to provide rationales on market numbers, CAGR, and forecasts.
Formulation development outsourcing Market Country Level Analysis
Most of the countries are estimated to emerge as a fastest growing region and hold the largest market share in the global industrial Formulation development outsourcing market, mainly due to Growing industory trends of present situations, which cannot be ignored. Geographically, regional insights has been segmented on the basis of North America, Europe, Asia Pacific, South America and The Middle East And Africa region.
Key Formulation development outsourcing market players identified in the report are listed below
Charles River Laboratories International Inc., Aizant Drug Research Solutions Pvt Limited, Catalent Inc., Laboratory Corporation of America Holdings, Biocon Limited (Syngene International), IRISYS LLC, Intertek Group PLC, Piramal Enterprises Ltd, Quotient Sciences, Thermo Fisher Scientific Inc. (Patheon), Emergent BioSolutions Inc., Lonza Group AG, Aurigene Pharmaceutical Services Ltd, PCI Pharma Services, Hermes Pharma, Pyramid Laboratories Inc., and others
Some of the other major highlights of the demand for Formulation development outsourcing report include analysis, purchasing volume, prices, pricing analysis, and regulatory framework. Coverage on manufacturing structure, distribution channels, and Porter’s Five Forces analysis are also incorporated in the scope to provide analysis on the demand and supply side. This is anticipated to create opportunities for the growth of the Formulation development outsourcing market during the forecast period.
COVID-19 Impact Analysis
- The COVID-19 pandemic had a significant impact on the on trade segment and Industry.
- Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation.
- The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global Formulation development outsourcing industry is expected to stabilize after 2021.
- The liquor industry was not impacted severely due to the pandemic.
Key Formulation development outsourcing Market Trends
- The report identifies, determines, and forecasts the Global Formulation development outsourcing Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Formulation development outsourcing Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in the Formulation development outsourcing Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Formulation development outsourcing Market.
Table of Contents
Study Coverage: It includes key manufacturers covered, key market segments, the scope of products offered in the global Formulation development outsourcing market, years considered, and study objectives. Additionally, it touches the segmentation study provided in the report on the basis of the type of product and application.
Executive Summary: It gives a summary of key studies, market growth rate, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
Production by Region: Here, the report provides information related to import and export, production, revenue, and key players of all regional markets studied.
Profile of Manufacturers: Each player profiled in this section is studied on the basis of SWOT analysis, their products, production, value, capacity, and other vital factors.
Reasons to Buy
- In-depth analysis of the market on the global and regional level.
- Major changes in market dynamics and competitive landscape.
- Segmentation on the basis of type, application, geography and others.
- Historical and future market research in terms of size, share, growth, volume & sales.
- Major changes and assessment in market dynamics & developments.
- Industry size & share analysis with industry growth and trends.
Formulation development outsourcing Market Growth is segmented on the basis of market type, application, end-user and region.
Based on Type
Pre-Formulation Services
Formulation Optimization
Based on Application
Oncology
Genetic Disorders
Neurology
Infectious Diseases
Respiratory
Cardiovascular
Regions Covered
Americas
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Chile
Colombia
Rest Of Latin America
Europe
United Kingdom
Germany
France
Italy
Spain
Netherlands
Sweden
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Singapore
Indonesia
Malaysia
Thailand
Philippines,
Vietnam
Rest of Asia-Pacific
The Middle East And Africa
Saudi Arabia
United Arab Emirates
South Africa
Iran
Turkey
Morocco
Nigeria
Algeria
Cameroon
Chad
Congo
Egypt
Kuwait
Rest of LAMEA
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