Formulation Development Outsourcing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Service (Preformulation, Formulation Development), By Formulation (Oral, Injectable, Topical, Others), By Therapeutic Area (Oncology, Infectious Disease, Neurology, Hematology, Respiratory, Cardiovascular, Dermatology, Others), By Region and Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationFormulation Development Outsourcing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Service (Preformulation, Formulation Development), By Formulation (Oral, Injectable, Topical, Others), By Therapeutic Area (Oncology, Infectious Disease, Neurology, Hematology, Respiratory, Cardiovascular, Dermatology, Others), By Region and Competition
In June 2021, Taylor France published a paper regarding the use of 3D printing for the formulation development of personalized medicines.
Cost savings
Cost savings are one of the key drivers of the growth of the Global Formulation Development Outsourcing Market. Pharmaceutical companies are under pressure to reduce costs and improve efficiency, and outsourcing formulation development can help them achieve these goals in several ways. First, outsourcing formulation development allows pharmaceutical companies to avoid the capital expenditures associated with building and maintaining facilities and equipment, as well as the ongoing costs of staffing and training employees.
Instead, companies can leverage the expertise and infrastructure of CDMOs (Contract Development and Manufacturing Organizations) to develop their drug formulations. Second, outsourcing formulation development can help pharmaceutical companies to reduce their overall development costs. By working with CDMOs that specialize in formulation development, companies can benefit from economies of scale, as well as the expertise of specialized professionals. This can result in reduced development costs and faster time-to-market.
Third, outsourcing formulation development allows pharmaceutical companies to allocate their resources more effectively. By focusing on their core competencies, such as drug discovery, marketing, and sales, companies can free up resources to invest in other areas of their business. This can help companies to improve their competitive position and increase their profitability.
Focus on core competencies
Core competencies are another key factor influencing the growth of the Global Formulation Development Outsourcing Market. Pharmaceutical companies are increasingly recognizing the importance of focusing on their core competencies to remain competitive and innovative. Outsourcing formulation development can help companies achieve this goal in several ways. First, outsourcing formulation development allows pharmaceutical companies to focus on their core competencies, such as drug discovery, marketing, and sales. By working with CDMOs (Contract Development and Manufacturing Organizations) that specialize in formulation development, companies can free up resources to invest in areas where they have a competitive advantage. This can help them to develop new drugs more quickly and efficiently, and to bring them to market faster. Second, outsourcing formulation development allows pharmaceutical companies to access specialized expertise and facilities that they may not have in-house. Many CDMOs specialize in specific areas of formulation development, such as biologics, sterile products, or controlled substances.
By working with these specialized partners, companies can access the expertise and infrastructure needed to develop their drug formulations more effectively. Third, outsourcing formulation development can help pharmaceutical companies to reduce their risk and increase their flexibility. By working with multiple CDMOs, companies can spread their risk and ensure that they have access to the expertise and infrastructure needed to develop their drug formulations, regardless of their specific requirements.
Increased complexity of drug development
Drug development is a significant driver of the growth of the Global Formulation Development Outsourcing Market. The pharmaceutical industry is under constant pressure to develop new and innovative drugs to address unmet medical needs, and outsourcing formulation development can help companies accelerate the drug development process in several ways. Outsourcing formulation development can help pharmaceutical companies to reduce their time-to-market. By working with CDMOs (Contract Development and Manufacturing Organizations) that specialize in formulation development, companies can access the expertise and infrastructure needed to develop their drug formulations more quickly and efficiently. This can help them to bring their drugs to market faster, and to capture market share more quickly. Also, outsourcing formulation development can help pharmaceutical companies to access specialized expertise and facilities.
Many CDMOs specialize in specific areas of formulation development, such as biologics, sterile products, or controlled substances. By working with these specialized partners, companies can access the expertise and infrastructure needed to develop their drug formulations more effectively. Additionally, outsourcing formulation development can help pharmaceutical companies to reduce their development costs. By leveraging the expertise and infrastructure of CDMOs, companies can benefit from economies of scale and reduce their overall development costs. This can help them to allocate their resources more effectively and invest in other areas of their business, such as drug discovery, marketing, and sales.
The rapidly evolving regulatory environment
The regulatory environment is a crucial factor that influences the growth of the Global Formulation Development Outsourcing Market. The pharmaceutical industry is subject to strict regulatory requirements, and outsourcing formulation development can help companies navigate these requirements more effectively. First, outsourcing formulation development can help pharmaceutical companies to comply with regulatory requirements more efficiently. CDMOs (Contract Development and Manufacturing Organizations) that specialize in formulation development are often experienced in working with regulatory bodies and can help companies navigate the complex regulatory landscape. This can help companies to avoid delays and costly regulatory mistakes, which can slow down the drug development process and increase costs. Second, outsourcing formulation development can help pharmaceutical companies to access specialized expertise related to regulatory compliance. Many CDMOs have in-house regulatory experts who can provide guidance on regulatory compliance, as well as the expertise needed to develop drug formulations that meet regulatory requirements. Third, the outsourcing of formulation development can help pharmaceutical companies to maintain compliance with changing regulatory requirements. As regulations evolve, CDMOs can help companies to stay up-to-date and adapt their drug development processes accordingly, reducing the risk of non-compliance and associated penalties.
Growing demand for biologics and other complex formulations
Biologics and other complex formulations are significant drivers of the growth of the Global Formulation Development Outsourcing Market. Biologics and other complex formulations require specialized knowledge and expertise that may not be found at in-house. CDMOs (Contract Development and Manufacturing Organizations) that specialize in biologics and other complex formulations have the necessary knowledge and expertise to develop and manufacture these products more effectively. By working with these specialized partners, pharmaceutical companies can access the expertise and infrastructure needed to develop their biologics and other complex formulations more efficiently and effectively. Besides, biologics and other complex formulations often require specialized infrastructure that may not be found at in-house.
CDMOs that specialize in biologics and other complex formulations have invested in the infrastructure needed to develop and manufacture these products, including specialized equipment and facilities. By working with these specialized partners, pharmaceutical companies can access the infrastructure needed to develop their biologics and other complex formulations more efficiently and cost-effectively. Moreover, outsourcing the development of biologics and other complex formulations can help pharmaceutical companies to reduce their risk. These formulations often involve a high degree of complexity and risk, and outsourcing the development process can help companies to spread their risk and ensure that they have access to the necessary expertise and infrastructure.
Recent Development
- Catalent launched a new spray drying suite in 2020, which includes a GMP spray dryer with integrated milling and particle engineering capabilities. This new suite allows Catalent to offer a wider range of drug development services, including spray drying, micronization, and formulation development.
- Thermo Fisher Scientific launched a new CDMO facility in Singapore in 2020, which includes a range of capabilities, including formulation development, process development, and clinical trial manufacturing. The facility is designed to support the growing demand for CDMO services in the Asia-Pacific region.
- Lonza launched a new sterile drug product fill and finish facility in Switzerland in 2019, which includes capabilities for aseptic filling, lyophilization, and terminal sterilization. The new facility expands Lonza's capabilities in the sterile drug product manufacturing space and allows the company to offer a wider range of services to its customers.
Market Segmentation
Global Formulation Development Outsourcing market can be segmented by service, formulation, therapeutic area, and by region. Based on the service, the market can be divided into preformulation and formulation development. Based on formulation, the market can be segmented into oral, injectable, topical, and others. Based on therapeutic area, the market can be differentiated into oncology, infectious disease, neurology, hematology, respiratory, cardiovascular, dermatology, and others.
Market Players
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 Ltd., Patheon Inc., Emergent BioSolutions Inc, Lonza Group AG are some of the leading players operating in the Global Formulation Development Outsourcing Market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | By Service By Formulation By Therapeutic Area By Region |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; France; Germany; United Kingdom; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE |
| Key companies profiled | 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 Ltd., Patheon Inc., Emergent BioSolutions Inc, Lonza Group |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope
In this report, Global Formulation Development Outsourcing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
- Formulation Development Outsourcing Market, By Product and Service
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- Formulation Development Outsourcing Market, By Application
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- Formulation Development Outsourcing Market, By Region
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Competitive Landscape
Company Profiles
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