Market Overview

The Global Formulation Development Outsourcing Market was valued at USD 25,602.3 million in 2023 and is expected to reach USD 41,301.5 million by 2031 while growing at a CAGR of 6.2% during the forecast period (2024-2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global formulation development outsourcing market growth. Outsourcing formulation development in the pharmaceutical and biotech industries involves seeking external expertise for optimizing drug composition and structure to ensure effectiveness, stability, and desired properties. It encompasses creating the final dosage form by combining the active pharmaceutical ingredient (API) with other substances, like tablets, capsules, injectables, or creams.

Increasing complexity in drug development and the demand for time efficiency, leading to faster time-to-market, are driving the growth of the formulation development outsourcing market. However, stringent regulatory compliance and intellectual property concerns pose potential obstacles to market expansion.

Furthermore, the global formulation development outsourcing industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Service Analysis

The Global Formulation Development Outsourcing Market is segmented among Pre-formulation Services, and Formulation Optimization, based on Service. In 2023, Formulation Optimization accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Dosage Form Analysis

The Global Formulation Development Outsourcing Market is segmented among Injectable, Oral, Topical, and Other Dosage Forms, based on Dosage Form. In 2023, Oral accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Formulation Development Outsourcing Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Charles River Laboratories, Aizant Drug Research Solutions Private Limited, Catalent Inc., Laboratory Corporation of America Holdings, Syngene International Ltd, Irisys LLC, Intertek Group PLC, Piramal Pharma Solutions, Qiotient Sciences, and Patheon (Thermo Fisher Scientific Inc.)

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Formulation Development Outsourcing Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Formulation Development Outsourcing Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Formulation Development Outsourcing Market Segmentation, By Service

• Global Formulation Development Outsourcing Market Share Analysis, By Service

• Global Formulation Development Outsourcing Market Growth Analysis, By Service

• Global Formulation Development Outsourcing Market Trends, By Service

o Pre-formulation Services

Ø Discovery and Preclinical Services

Ø Analytical Services

o Formulation Optimization

Ø Phase I

Ø Phase II

Ø Phase III

Ø Phase IV

6. Global Formulation Development Outsourcing Market Segmentation, By Dosage Form

• Global Formulation Development Outsourcing Market Share Analysis, By Dosage Form

• Global Formulation Development Outsourcing Market Growth Analysis, By Dosage Form

• Global Formulation Development Outsourcing Market Trends, By Dosage Form

o Injectable

o Oral

o Topical

o Other Dosage Forms

7. Global Formulation Development Outsourcing Market Segmentation, By Application

• Global Formulation Development Outsourcing Market Share Analysis, By Application

• Global Formulation Development Outsourcing Market Growth Analysis, By Application

• Global Formulation Development Outsourcing Market Trends, By Application

o Oncology

o Genetic Disorders

o Neurology

o Infectious Diseases

o Respiratory

o Cardiovascular

o Other Applications

8. Global Formulation Development Outsourcing Market Segmentation, By End User

• Global Formulation Development Outsourcing Market Share Analysis, By End User

• Global Formulation Development Outsourcing Market Growth Analysis, By End User

• Global Formulation Development Outsourcing Market Trends, By End User

o Pharmaceutical and Biopharmaceutical Companies

o Government and Academic Institutes

9. Global Formulation Development Outsourcing Market Segmentation, By Region

• Global Formulation Development Outsourcing Market Share Analysis, By Region

• Global Formulation Development Outsourcing Market Growth Analysis, By Region

• Global Formulation Development Outsourcing Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

10. Competitive Landscape

• Charles River Laboratories*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Aizant Drug Research Solutions Private Limited

• Catalent Inc.

• Laboratory Corporation of America Holdings

• Syngene International Ltd

• Irisys LLC

• Intertek Group PLC

• Piramal Pharma Solutions

• Qiotient Sciences

• Patheon (Thermo Fisher Scientific Inc.)

*Similar analysis will be provided for each company listed above.