Formulation Development Outsourcing Market Report Latest Trends and Future Opportunities Analysis

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Formulation Development Outsourcing Market Size, Share & Trends Analysis Report By Service (Preformulation, Formulation Development), Application (Oncology, Neurology, Infectious Disease, Respiratory, Dermatology) And Formulation (Injectable, Topical, Inhaled, Oral) Market Outlook And Industry Analysis 2031"

The Formulation Development Outsourcing Market Size is valued at 38.33 billion in 2023 and is predicted to reach 69.54 billion by the year 2031 at a 7.80% CAGR during the forecast period for 2024-2031.

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Fluctuations in the pricing and demand for various pharmaceuticals and raw materials have a significant influence on the outsourcing of formulation development. In response, formulation development outsourcing firms have strategically leveraged patent expirations of established drugs as a marketing opportunity to drive market growth. In recent years, the demand for development services-particularly those focused on formulation and bioavailability-has grown considerably. Pharmaceutical companies continue to play a pivotal role in this sector by investing in the development and manufacturing of innovative formulations and therapeutics.

Collaboration among key stakeholders is critical to advancing the production of effective drugs and gene therapies that support the broader biotechnology landscape. Moreover, the integration of advanced techniques and pharmaceutical services by leading market participants is expected to propel market expansion during the forecast period. Competitors in the formulation development outsourcing market are actively pursuing revenue growth through the creation and development of diverse product pipelines designed to meet evolving customer demands.

List of Key Players in the Formulation Development Outsourcing Market:
• SGS S.A.
• Intertek Group plc
• Recipharm
• Lonza
• Charles River Laboratories International, Inc.
• Eurofins Scientific SE
• Element
• Labcorp
• Thermo Fisher Scientific, Inc. (Patheon)
• Catalent Inc.

Market Dynamics:
Drivers-
The formulation development outsourcing market is experiencing steady growth and is projected to achieve a notable compound annual growth rate (CAGR) over the forecast period. Increasing demand from end-use sectors such as oncology, infectious diseases, and respiratory care is a key factor propelling market expansion. The pharmaceutical industry continues to lead in market share, driven by its robust investment in research and development. Additionally, the rapid growth of biopharmaceutical companies and research institutions further supports market momentum.

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Challenges:
One of the primary challenges facing the market is the substantial initial investment required, particularly in developing countries where awareness and infrastructure related to formulation development remain limited. This could hinder market penetration and slow overall growth. Furthermore, the COVID-19 pandemic significantly disrupted pharmaceutical manufacturing, supply chains, and the export of essential medications-particularly during lockdowns in China, a major supplier of active pharmaceutical ingredients (APIs). In response, several nations initiated strategies to enhance domestic API production, with many European Union countries reevaluating their healthcare frameworks to ensure more resilient supply chains in future public health emergencies.

Regional Trends:
North America is expected to generate the highest revenue growth in the coming years, driven by the rising prevalence of chronic diseases and the presence of major pharmaceutical players, particularly in the United States. The expiration of patents on several key drugs has further accelerated the demand for novel drug formulation development, boosting outsourcing activities in the region. In Europe, the United Kingdom holds the largest market share within the formulation development outsourcing sector, while Germany represents the fastest-growing market, reflecting its dynamic pharmaceutical and biotechnology landscape.

Recent Development:
• In 2021, Catalent announced it had engaged in a definitive agreement to acquire Acorda Therapeutics, Inc.'s manufacturing and packaging operations. The acquisition bolsters Catalent's position as a leading U.S. partner for dry powder inhaled dosage form manufacturers. Catalent has also signed a long-term supply agreement with Acorda Therapeutics to continue commercial production of INBRIJA® (levodopa inhalation powder) at its Chelsea facility.
• In 2021, Quotient Bioscience also disclosed plans to acquire Arcinova, a United Kingdom-based business. With the acquisition, Quotient Bioscience can offer more services, such as medical goods, clinical testing, and drug substance development.
• In 2020, Catalent, Inc. announced the completion of its acquisition of MaSTherCell Global, Inc., establishing Catalent as a leading technology, development, and manufacturing partner for innovators of advanced biotherapeutics. Catalent is well-positioned to lead the industry with its cell & gene therapy platforms after acquiring MaSTherCell's novel portfolio of autologous and allogeneic cell therapy-related capabilities, technologies, and analytical services.

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Segmentation of Formulation Development Outsourcing Market:
Service Outlook
• Preformulation
• Formulation Development
By Formulation -
• Injectable
• Oral
• Topical
• Inhaled
• Others
By Application -
• Oncology
• Genetic Disorders
• Neurology
• Infectious Disease
• Respiratory
• Cardiovascular
• Other application
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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