Global Formulation Development Outsourcing Market By Service Type: (Pre Formulation Services, Formulation Optimization) By Indication: (Oncology, Genetic Disorders, Neurology, Infectious Diseases, Other Indications) By End-User: (Pharmaceuticals & Biopharmaceutical Companies, Government & Academic Institutes, Other End-Users), by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast to 2032.

Formulation Development Outsourcing Market Overview:

The Formulation Development Outsourcing Market is estimated to be worth USD 21,801.05 million in 2023 and will grow at a compound annual growth rate of 6.42% by 2032.

Pharma service companies focus on oncology formulation development to provide end-to-end solutions for oncology drug development. It plays a vital role in anti-cancer drugs, as formulation issues, including stability, solubility, and bioavailability, are essential considerations for drug development. The pharmaceutical industry is a conglomeration of several business functions, and previously major pharmaceutical companies had outsourced several non-core functions. However, more and more companies are outsourcing a significant chunk of their research & development activities, including formulation development. The formulation work that is being outsourced ranges from early formulation development for animal studies to formulation development and optimization for phases I, II, and III under cGMP compliance.

In the early formulation stage, the outsourced work includes physicochemical properties, excipient screening, and feasibility for target-specific formulations. As the number of poorly water-soluble APIs is high, formulation development such as solid dispersions, lipid formulations, specific patented techniques to enhance solubility, and developing formulation based on such techniques are being increasingly outsourced. In the late phase formulation development stage, outsourcing involves optimizing specific formulations and manufacturing formulations for clinical trials. Therefore, outsourcing allows a variable cost structure, increasing resources, spending when necessary, and decreasing spending when demand subsides.

Detailed Segmentation:

The formulation development outsourcing market is segmented on the basis of – service type, formulation optimization, dosage form, indication, end-user, and region.

By Service Type:

• Pre Formulation Services
  • Formulation Discovery
  • Preclinical Services
  • Analytical Services
• Formulation Optimization
  • Phase1
  • Phase2
  • Phase3
  • Phase4

By Indication:

• Oncology
• Genetic Disorders
• Neurology
• Infectious Diseases
• Other Indications

By End-User:

• Pharmaceuticals & Biopharmaceutical Companies
• Government & Academic Institutes
• Other End-Users

By Region-

• North America
• Europe
• APAC
• South America
• MEA

Market Dynamics:

The growing importance of the innovation of novel drugs because of increasing patent expirations of major drugs, as well as the increasing trend of outsourcing formulation development services by most pharmaceutical and biotechnological companies are major factors fueling revenue growth prospects for this market.

Key Players:

• Charles River Laboratories
• Aizant Drug Research Solutions Private Limited
• Catalent Inc.
• Laboratory Corporation of America Holdings
• Syngene International Limited
• Other Key Players

Key Developments:

In February 2021, Quotient Biosciences acquired Arcinova, a UK-based multiservice Contract Development And Manufacturing Organization (CDMO), to expand Quotient Biosciences’ service portfolio, with the integration of drug substances, drug products, and clinical testing capabilities into its already existing range of pharma services.

In February 2021, Catalent Inc. acquired the manufacturing and packaging operations of Acorda Therapeutics Inc. The acquisition led to the expansion of Catalent as a leading US-based partner for companies across dry powder inhaled dosage forms.

For the Formulation Development Outsourcing Market research study, the following years have been considered to estimate the market size: