Asia Pacific Formulation Development Outsourcing Market Size & Outlook
Asia Pacific formulation development outsourcing market, 2018-2030 (US$M)
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Asia Pacific formulation development outsourcing market highlights
- The Asia Pacific formulation development outsourcing market generated a revenue of USD 15,057.4 million in 2023.
- The market is expected to grow at a CAGR of 8% from 2024 to 2030.
- In terms of segment, formulation development was the largest revenue generating service in 2023.
- Formulation Development is the most lucrative service segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 15,057.4 million |
| Market revenue in 2030 | USD 25,771.7 million |
| Growth rate | 8% (CAGR from 2023 to 2030) |
| Largest segment | Formulation development |
| Fastest growing segment | Formulation Development |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Preformulation, Formulation Development |
| Key market players worldwide | SGS, Intertek Group PLC, Recipharm, Lonza Group Ltd, Charles River Laboratories International Inc, Eurofins Scientific SE, Element Solutions Inc, Labcorp Holdings Inc, Thermo Fisher Scientific Inc, Catalent Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 39.7% of the global formulation development outsourcing market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 25,771.7 million by 2030.
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Formulation Development Outsourcing Market Scope
Formulation Development Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific formulation development outsourcing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to formulation development outsourcing market will help companies and investors design strategic landscapes.
Formulation development was the largest segment with a revenue share of 76.81% in 2023. Horizon Databook has segmented the Asia Pacific formulation development outsourcing market based on preformulation, formulation development covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific region held the largest share of 39.39% in the formulation development outsourcing market in 2022. With many biotech businesses that are expanding quickly and a strong emphasis on innovation and Research & Development (R&D) operations, the Asia Pacific is a significant market in the global pharmaceutical sector.
Countries such as China, India, and South Korea are making significant investments to build & expand their healthcare systems and support the expansion of the pharmaceutical sector in the region. For instance, South Korean businesses like Celltrion and Samsung Biologics are increasing their global reach through alliances & partnerships while investing in novel technology.
With a favorable regulatory environment, strong government support, and a growing focus on research & development activities, the Asia Pacific region is expected to be a major contributor to the growth of the global formulation development outsourcing market in the coming years.
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Our clientele includes a mix of formulation development outsourcing market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific formulation development outsourcing market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific formulation development outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific formulation development outsourcing market size, by country, 2018-2030 (US$M)
Asia Pacific Formulation Development Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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