Chile Formulation Development Outsourcing Market Size & Outlook
Chile formulation development outsourcing market, 2018-2030 (US$M)
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Chile formulation development outsourcing market highlights
- The Chile formulation development outsourcing market generated a revenue of USD 155.2 million in 2023 and is expected to reach USD 249.6 million by 2030.
- The Chile market is expected to grow at a CAGR of 7% 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.
Formulation development outsourcing market data book summary
| Market revenue in 2023 | USD 155.2 million |
| Market revenue in 2030 | USD 249.6 million |
| Growth rate | 7% (CAGR from 2023 to 2030) |
| Largest segment | Formulation development |
| Fastest growing segment | Formulation Development |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Chile accounted for 0.4% of the global formulation development outsourcing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil formulation development outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 2,103.8 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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Chile 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 76.8% in 2023. Horizon Databook has segmented the Chile formulation development outsourcing market based on preformulation, formulation development covering the revenue growth of each sub-segment from 2018 to 2030.
Chile has a well-organized, effectively governed health system & infrastructure and has introduced several reforms to meet the country’s medical needs. Since the implementation of the United States– Chile Free Trade Agreement in 2004, the majority of medicines can enter the country duty-free with a U.S. certificate of origin.
This factor has gained traction among pharmaceutical companies to invest in R&D sectors of the country to enhance drug development activities. The country has recently emerged to be one of the best outsourcing markets in the Latin America region, owing to its advanced research infrastructure and business-friendly environment.
Furthermore, the technically adept and competent workforce of the country has reformed life science research & development activities. The presence of major players such as Labcorp is offering a wide range of drug formulation development outsourcing services, further supporting the market growth.
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Target buyers of Chile formulation development outsourcing market databook
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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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 country-level data and insights on the Chile formulation development outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into Chile formulation development outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Chile formulation development outsourcing market size, by service, 2018-2030 (US$M)
Chile Formulation Development Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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