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The global formulation development outsourcing market size reached US$ 21.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 31.8 Billion by 2027, exhibiting at a CAGR of 6.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Formulation development refers to the process of determining patentability, lifecycle, and the success of the pharmaceutical product. It also involves pre-formulation, including analytical assay development and characterization, excipient screening to stabilize or enhance the solubility of the product and dosage form development. It is often outsourced due to time pressure and a lack of internal resources. Formulation development outsourcing also offers numerous benefits, such as compressing timelines, accessing expertise, and providing extra insurance against product failure.
The growing prevalence of chronic diseases, such as diabetes, chronic obstructive pulmonary disease (COPD), cancer, asthma, arthritis, and Alzheimer’s disease, is catalyzing the demand for the discovery and development of new drugs. This, in turn, represents one of the key factors resulting in the formulation development services being outsourced to contract research organizations (CROs) around the world. Besides this, there is a rise in the need to overcome the risk and save time and money involved in passing the drug through the development pipeline. As a result, leading pharmaceutical and biotechnological companies worldwide are partnering with outsourcing services in the early phases of the drug development process. This, along with a significant increase in the need to innovate novel drugs on account of the rising patent expirations of major drugs, is contributing to market growth. Furthermore, expanding healthcare expenditure by business enterprises and governing agencies of several countries is creating a favorable market outlook. Moreover, the coronavirus disease (COVID-19) outbreak has positively influenced the need for clinical trials to find an effective treatment against the contagious infection. This has resulted in extensive investments in research and development (R&D) to develop therapeutics, which is projected to drive the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global formulation development outsourcing market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on service, dosage form, application and end user.
Breakup by Service:
Breakup by Dosage Form:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis||2021|
|Segment Coverage||Service, Dosage Form, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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