DUBAI, United Arab Emirates, 05 Jul. 2022 (GLOBE NEWSWIRE) — The formulation development outsourcing market is expected to be worth US$66.6 billion in 2032, from US$31 billion in 2021, growing at a CAGR of 7.2% during of the forecast period (2022-2032).
Rising R&D costs are expected to increase the demand for formulation development outsourcing. Formulation development outsourcing services are widely used by small and medium sized pharmaceutical companies that lack the necessary resources.
The majority of pharmaceutical companies use it to reduce the time spent on outsourcing formulation development services due to testing costs. The expansion of the formulation development outsourcing business is driving the growing reliance of the pharmaceutical industry on partnerships with academic institutions.
Request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15131
The market value of outsourcing formulation development can be significantly affected by the increasing cost and demand for various drugs and raw materials. The expiration of medical drug patent protection was a marketing strategy developed by the formulation development outsourcing company to encourage market growth.
The formulation development outsourcing market size has grown owing to the increase in the number of biopharmaceutical and pharmaceutical companies outsourcing their work. In North America, the formulation development outsourcing market held a substantial share of 26.8% in 2021.
By way of illustration, many clinical trials are being conducted in the United States. In addition, Europe is expected to hold the formulation development outsourcing market share. Government support initiatives, sedentary lifestyles and rise in chronic diseases are driving the market in this region.
Key points to remember
- The formulation development outsourcing market is expected to grow at a CAGR of 7.2%, with a market share of US$66.6 billion through 2032.
- The North America formulation development outsourcing market holds a major share of 22.8 in 2021.
- The Asia-Pacific formulation development outsourcing market is expected to have a significant CAGR of 8.1% through 2032.
- The formulation development outsourcing market accounted for a share of US$31 billion in 2021.
- The oral segment of the formulation development outsourcing market, formulation-based, had a revenue share of 63.6% in 2021.
- The formulation development segment of the service-based formulation development outsourcing market had a revenue share of 76.6% in 2021.
PDF Broker @ https://www.futuremarketinsights.com/askus/rep-gb-15131
Some of the major measures players are using to take advantage of opportunities in the formulation development outsourcing market include frequent product launches, geographic expansions, and distribution deals to expand their consumer base.
- SGS S.A.
- Intertek Group plc
- Charles River International Laboratories, Inc.
- Eurofins Scientific SE
- Thermo Fisher Scientific, Inc. (Patheon)
- Catalent Inc.
- In 2019, Intertek expanded its Melbourne-based pharmaceutical services laboratory.
- In 2021, Cataleny Inc. announced that it had acquired the packaging and manufacturing divisions of Acorda Therapeutics Inc.
- In 2021, Quotient BioSciences also announced its intention to acquire Arcinova, a UK-based company. With this acquisition, Quotient Bioscience is able to offer more services, such as medicinal products, clinical trials and drug substance development.
- 2020 saw the announcement by Catalent Inc. of the acquisition of MaStherCell Global Inc. The biotechnology sector is strengthening its position thanks to this increase and new methods of gene therapies are being made available.
- Formula development
By therapeutic area:
- Infectious diseases
Ask an [email protected] https://www.futuremarketinsights.com/ask-question/rep-gb-15131
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s analysis
3.6. Regulatory landscape
3.6.1. By key regions
3.6.2. By key countries
3.7. Regional Parent Market Outlook. Click here for the full table of contents
See related research reports from Health care:
Ovulation Microscope Market: The global ovulation microscope market size is expected to reach US$ 81.2 billion by 2032 and grow at a CAGR of 11.3% during the forecast period from 2022 to 2032.
Acoustic Breathing Sensors Market Value: The global Acoustic Breathing Sensors market is expected to reach a market value of US$232.4 million in 2022.
Mobile Operating Room Market Demand: Global Mobile Operating Room Market is expected to be valued at US$ 1,257.8 Million by 2032.
Mobile CT Market Type: Global Mobile CT Market is anticipated to be valued at USD 595.1 million by 2032, from USD 295.2 million in 2022.
Airway Clearance Devices System Market Sales: The global demand for Airway Clearance Devices Systems is expected to be valued at US$589.3 million in 2022.
Phakic Intraocular Lens (IOL) Market Size: The Phakic Intraocular Lens (IOL) market valuation will reach US$ 819.5 million by 2032.
Non-Steroidal Nasal Spray Market Trends: The global non-steroidal nasal spray market was valued at US$7.7 Billion in 2021 and is projected to reach US$14.9 Billion by 2032.
INR Test Meter Market Share: The global INR test meter market is expected to enjoy a valuation of US$1.3 billion by the end of 2022, registering a CAGR of 6.3%, exceeding ~ US$2.4 billion by 2032.
Gel Implant Market Outlook: The global gel implant market will reach US$1.3 billion in 2021. The demand is expected to increase at a CAGR of 3.4% over the forecast period, with the market valuation reaching 1 US$.8 billion by 2032.
Intracardiac Echocardiography Market Forecast: The intracardiac echocardiography market is expected to register a CAGR of 5.8% during the forecast period 2022-2032.
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
future market outlook,
1602-6 Jumeirah Bay Tower X2,
Parcel number: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For sales inquiries: [email protected]
Browse the latest market reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs