UAE Formulation Development Outsourcing Market Size & Outlook
UAE formulation development outsourcing market, 2018-2030 (US$M)
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UAE formulation development outsourcing market highlights
- The UAE formulation development outsourcing market generated a revenue of USD 148.6 million in 2023 and is expected to reach USD 215.2 million by 2030.
- The UAE market is expected to grow at a CAGR of 5.4% 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 148.6 million |
| Market revenue in 2030 | USD 215.2 million |
| Growth rate | 5.4% (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, UAE 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 Middle East & Africa, Saudi Arabia formulation development outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 370.5 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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UAE 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 76.85% in 2023. Horizon Databook has segmented the UAE formulation development outsourcing market based on preformulation, formulation development covering the revenue growth of each sub-segment from 2018 to 2030.
The UAE become a significant market in the global pharmaceutical industry, providing a convenient business environment and novel infrastructure to facilitate pharmaceutical product research and manufacturing.
As a result, the country's formulation development outsourcing sector experienced tremendous expansion, it is attracting numerous international pharmaceutical corporations to outsource their formulation development solutions to local businesses.
Via several incentives and measures designed to draw in foreign investment, the UAE government has also been actively supporting the expansion of the pharmaceutical industry. Overall, the UAE's favorable business environment, advanced infrastructure, and government support make it an attractive destination for formulation development outsourcing.
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Target buyers of UAE 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 country-level data and insights on the UAE formulation development outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into UAE formulation development outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE formulation development outsourcing market size, by service, 2018-2030 (US$M)
UAE Formulation Development Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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