Mexico Formulation Development Outsourcing Market Size & Outlook
Related Markets
Mexico formulation development outsourcing market highlights
- The Mexico formulation development outsourcing market generated a revenue of USD 621.3 million in 2023 and is expected to reach USD 1,045.4 million by 2030.
- The Mexico market is expected to grow at a CAGR of 7.7% 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 621.3 million |
| Market revenue in 2030 | USD 1,045.4 million |
| Growth rate | 7.7% (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, Mexico accounted for 1.6% 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
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 |
Mexico 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 2024. Horizon Databook has segmented the Mexico formulation development outsourcing market based on preformulation, formulation development covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico accounts for the second-largest market in Latin America for drug formulation development outsourcing and is expected to showcase significant growth during the forecast period. Low cost of manufacturing is expected to attract global biopharmaceutical companies in this region, thereby increasing the demand for drug & formulation development outsourcing services.
The rising partnerships and collaborations of public research institutions, pharmaceutical companies, and CROs are considered key drivers for the clinical research improvements in the country.
Although Mexico invests only about 1.8% of its GDP on R&D activities, the country is anticipated to fast establish itself to be one of the major clinical trial hub in Latin America. These factors in turn are boosting the demand for drug development outsourcing providers in the country.
Reasons to subscribe to Mexico formulation development outsourcing market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Mexico formulation development outsourcing market databook
-
Our clientele includes a mix of formulation development outsourcing market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
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 country-level data and insights on the Mexico formulation development outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into Mexico formulation development outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Mexico Formulation Development Outsourcing Market Outlook Share, 2024 & 2030 (US$M)
Related industry reports
Related statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
