Middle East & Africa Formulation Development Outsourcing Market Size & Outlook
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MEA formulation development outsourcing market highlights
- The MEA formulation development outsourcing market generated a revenue of USD 1,224.0 million in 2024.
- The market is expected to grow at a CAGR of 6.9% from 2025 to 2030.
- In terms of segment, formulation development was the largest revenue generating service in 2024.
- Formulation Development is the most lucrative service segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2025 to 2030.
MEA data book summary
| Market revenue in 2024 | USD 1,224.0 million |
| Market revenue in 2030 | USD 1,814.0 million |
| Growth rate | 6.9% (CAGR from 2025 to 2030) |
| Largest segment | Formulation development |
| Fastest growing segment | Formulation Development |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 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, MEA region accounted for 3.3% of the global formulation development outsourcing market in 2024.
- 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 28,472.3 million by 2030.
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Formulation Development Outsourcing Market Scope
Formulation Development Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| SGS | View profile | 10001+ | Geneva, Geneve, Switzerland, Europe | http://www.sgs.com/ |
| Element Solutions Inc | View profile | 5300 | 500 East Broward Boulevard, Suite 1860, Fort Lauderdale, FL, United States, 33394 | https://www.elementsolutionsinc.com |
| Recipharm | View profile | 1001-5000 | Jordbro, Stockholms Lan, Sweden, Europe | http://www.recipharm.com |
| Intertek Group PLC | View profile | 44000 | 33 Cavendish Square, London, United Kingdom, W1G 0PS | https://www.intertek.com |
| Catalent Inc | View profile | 17219 | 14 Schoolhouse Road, Somerset, NJ, United States, 08873 | https://www.catalent.com |
| Labcorp Holdings Inc | View profile | 67000 | 358 South Main Street, Burlington, NC, United States, 27215 | https://www.labcorp.com |
| Charles River Laboratories International Inc | View profile | 21400 | 251 Ballardvale Street, Wilmington, MA, United States, 01887 | https://www.criver.com |
| Eurofins Scientific SE | View profile | 61798 | 23 Val Fleuri, Luxembourg, Luxembourg, L-1526 | https://www.eurofins.com |
| Thermo Fisher Scientific Inc | View profile | 122000 | 168 Third Avenue, Waltham, MA, United States, 02451 | https://www.thermofisher.com |
| Lonza Group Ltd | View profile | 18000 | Muenchensteinerstrasse 38, Basel, Switzerland, CH-4002 | https://www.lonza.com |
Middle East & Africa 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 80.82% in 2024. Horizon Databook has segmented the Middle East & Africa formulation development outsourcing market based on preformulation, formulation development covering the revenue growth of each sub-segment from 2018 to 2030.
The growth is relatively slow as the present scenario of drug formulation development is at a nascent stage in the region. However, the increasing prevalence of various diseases is expected to result in growth of this market in the future.
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Target buyers of Middle East & Africa 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 Middle East & Africa formulation development outsourcing market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa formulation development outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA formulation development outsourcing market size, by country, 2018-2030 (US$M)
Middle East & Africa Formulation Development Outsourcing Market Outlook Share, 2024 & 2030 (US$M)
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