UK Formulation Development Outsourcing Market Size & Outlook
UK formulation development outsourcing market, 2018-2030 (US$M)
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UK formulation development outsourcing market highlights
- The UK formulation development outsourcing market generated a revenue of USD 1,152.8 million in 2023 and is expected to reach USD 1,977.1 million by 2030.
- The UK market is expected to grow at a CAGR of 8% 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 1,152.8 million |
| Market revenue in 2030 | USD 1,977.1 million |
| Growth rate | 8% (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, UK accounted for 3.0% 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 Europe, Germany formulation development outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 1,977.1 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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UK 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 UK formulation development outsourcing market based on preformulation, formulation development covering the revenue growth of each sub-segment from 2018 to 2030.
The UK accounts for 10% of global pharmaceutical R&D and stands third globally, after the U.S. and Japan. The demand for generic products has also grown considerably due to government support for these medicines compared the branded drugs.
This trend attracts several small- and mid-size pharmaceuticals and biotechnology companies to enter the UK, thereby increasing the demand for formulation development services. Due to the lack of expertise and financial aid, small companies limit the establishment of in-house drug formulation units and prefer outsourcing the process.
Furthermore, the country has public & government contributed research centers to support novel drug development processes. For instance, Cancer Research UK is the only research center in the world dedicated to full charity-funded research programs that unveils novel scientific breakthroughs in cancer therapeutics.
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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 UK formulation development outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into UK formulation development outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK formulation development outsourcing market size, by service, 2018-2030 (US$M)
UK Formulation Development Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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