The Business Research Company’s report on the Formulation Development Outsourcing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the formulation development outsourcing market’s growth in recent years?
Growing chronic diseases are expected to propel the growth of the formulation development outsourcing market going forward. Chronic diseases are conditions that last for a year or longer, require continued medical care, and restrict daily activities. Developing effective formulations and therapies to manage and treat these conditions requires specialized expertise and resources. Formulation development outsourcing engages outside experts or specialized businesses to manage the research, development, and optimization of drug formulations to treat chronic diseases. For instance, in November 2023, according to the reports shared by Eurostat, a Luxembourg-based government agency, over one-third (36.1%) of individuals in the EU experienced a long-term chronic health condition in 2022. Therefore, the growing number of chronic diseases is driving the growth of the formulation development outsourcing market.
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How does the future projection of the formulation development outsourcing market size compare to its historical growth?
The formulation development outsourcing market size has grown strongly in recent years. It will grow from$29.83 billion in 2024 to $32.62 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to cost efficiency, focus on core competencies, regulatory compliance, accelerated drug development, and access to specialized expertise
The formulation development outsourcing market size is expected to see rapid growth in the next few years. It will grow to “$48.55 billion in 2029 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to the increased complexity of drug molecules, strategic partnerships, rising R&D costs, biopharmaceutical innovations, and flexible capacity. Major trends in the forecast period include integration of continuous manufacturing processes, outsourcing for modified-release formulations, collaborations for specialized drug delivery systems, regulatory expertise in outsourced services, and utilization of artificial intelligence (AI) in formulation design.
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Which key players are shaping the future of the formulation development outsourcing market?
Major companies operating in the formulation development outsourcing market include Syngene International Ltd., Aizant Drug Research Solutions Private Limited., Catalent Inc., Intertek Group plc, Recipharm AB, SGS S.A., Lonza Group AG, Eurofins Scientific SE, Laboratory Corporation of America Holdings, Charles River Laboratories International Inc., Emergent Biosolutions Inc., IRISYS LLC, Piramal Pharma Limited., Biocon Limited., Dr Reddy’s Laboratories Ltd., Quotient Sciences Ltd., Almac Group, Patheon, Evonik Industries AG, Metrics Contract Services, Aenova Group, Fareva Group, Vetter Pharma International GmbH, Aesica Pharmaceuticals, WuXi AppTec, Formosa Laboratories Inc., Aptuit LLC, ProPharma Group, Laurus Labs Limited
What trends will propel the growth and evolution of the formulation development outsourcing market?
Technological advancements are a key trend gaining popularity in the formulation development outsourcing market. Companies operating in the formulation development outsourcing market are adopting new technologies, such as artificial intelligence (AI) and machine learning (ML), to sustain their position in the market. For instance, in March 2023, Nvidia, a US-based software technology company, launched BioNeMo Cloud, a new component to their AI Foundations suite. This service offers researchers access to pre-trained AI models, allowing for private data customization. It is aimed to speed up life sciences research, drug discovery, and protein engineering. Amgen, a global biotech giant, and many startups currently use the technology, which is made available as a cloud service and allows for quicker drug development processes.
Which regions are expected to become dominant players in the formulation development outsourcing market?
North America was the largest region in the global formulation development outsourcing market in 2024. The regions covered in the formulation development outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the emerging key segments in the formulation development outsourcing market, and how are they evolving?
The formulation development outsourcing market covered in this report is segmented –
1) By Service: Preformulation, Formulation Development
2) By Therapeutic Area: Oncology, Infectious Disease, Neurology, Hematology, Respiratory, Cardiovascular, Dermatology, Other Therapeutics
3) By Formulation: Oral, Injectable, Topical, Other Formulations
4) By End-User: Pharmaceutical Industries, Research And Academic Development
Subsegments:
1) By Preformulation: Physicochemical Characterization, Stability Testing, Formulation Feasibility Studies, Analytical Method Development
2) By Formulation Development: Drug Formulation Development, Process Development, Scale-Up And Technology Transfer, Quality By Design (QbD) Development
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What defines the structure and scope of the formulation development outsourcing market?
Formulation development outsourcing refers to the practice of hiring external experts or organizations to handle the process of formulating and developing a product. This outsourcing arrangement allows companies to leverage the specialized knowledge, resources, and expertise of external parties to develop or improve the formulation of their products.
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