Europe Formulation Development Outsourcing Market Size & Outlook
Europe formulation development outsourcing market, 2018-2030 (US$M)
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Europe formulation development outsourcing market highlights
- The Europe formulation development outsourcing market generated a revenue of USD 8,636.1 million in 2023.
- The market is expected to grow at a CAGR of 7.2% 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, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 8,636.1 million |
| Market revenue in 2030 | USD 14,033.3 million |
| Growth rate | 7.2% (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, Europe region accounted for 22.8% 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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Europe 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 Europe formulation development outsourcing market based on preformulation, formulation development covering the revenue growth of each sub-segment from 2018 to 2030.
The European Medicine Agency (EMA) covers 25% market of worldwide pharmaceutical sales, and this is one of the leading drivers for outsourcing trends related to formulation developments in the life sciences sector, as a higher number of drugs in requirement would mean greater demand for formulation development services by pharma or biotech companies in the region.
In addition, the research support and demand for personalized medicines are increasing among the European population, owing to their growing awareness. For instance, European Commission, in collaboration with over 30 International & European members who represent policy-making organizations and research funders, established an international consortium for Personalized Medicine.
This consortium has developed research-supporting activities in areas related to personalized human medicines. Such funding & support from government organizations are boosting the demand for formulation development outsourcing services.
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Target buyers of Europe 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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe formulation development outsourcing market , including forecasts for subscribers. This continent databook contains high-level insights into Europe formulation development outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe formulation development outsourcing market size, by country, 2018-2030 (US$M)
Europe Formulation Development Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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