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Formulation Development Outsourcing Market to grow at a CAGR of XX8.19%: COVID Impact, Opportunities, Trends and Forecast
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The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the formulation development outsourcing market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.
In terms of COVID 19 impact, the formulation development outsourcing market report also includes the following data points:
• COVID19 Impact on formulation development outsourcing market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in the formulation development outsourcing market
The recent COVID scenario is expected to have a positive impact on the formulation development outsourcing market. Due to the increasing spread of Coronavirus, several companies are working with a limited workforce leading to delays in work/production. This has impacted the market in the years 2020 and 2021.
Competitive Scenario
Some of the major formulation development outsourcing players holding high market share include AIZANT DRUG RESEARCH SOLUTIONS PRIVATE LIMITED, IRISYS, INC., CHARLES RIVER LABORATORIES INTERNATIONAL, INC, INTERTEK GROUP PLC. These players use new product development, partnership, and acquisition as key strategies to gain significant market share to compete with market leaders.
Segmental Analysis
Formulation Development Outsourcing market is analyzed across below-mentioned different segments:
• Services
o Pre formulation Services
o Formulation optimization
• Dosage form
o Injectable
o Oral
o Topical
o Inhaled
o Others
• Application
o Genetic Disorders
o Oncology
o Neurology
o Infectious Diseases
o Respiratory
o Others
• End Use
o Pharmaceutical and Biopharmaceutical Companies
o Government and Academic Institutes
Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the formulation development outsourcing market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.
The key players profiled in the report are:
• AIZANT DRUG RESEARCH SOLUTIONS PRIVATE LIMITED
• IRISYS, INC.
• CHARLES RIVER LABORATORIES INTERNATIONAL, INC
• INTERTEK GROUP PLC
• CATALENT, INC.
• SYGENE INTERNATIONAL LIMITED
• LABORATORY CORPORATION OF AMERICA HOLDINGS
• PATHEON (THERMO FISHER SCIENTIFIC)
• QUOTIENT SCIENCES
• EMERGENT BISOLUTIONS INC.
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Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trademap, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants' financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.
Report Objectives
• To define, describe, and forecast the formulation development outsourcing market, in terms of value, segmented based on indication, type, technology, and geography
• To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
• To provide detailed information regarding drivers, restraints, and opportunities, in the formulation development outsourcing market
• To provide an overview of the value chain analysis pertaining to the formulation development outsourcing industry
• To strategically analyze each segment and subsegment with respect to individual overall growth trends and their contribution to the overall formulation development outsourcing market
• To analyze opportunities in the market by identifying high-growth segments of the formulation development outsourcing market
• To profile key players in the formulation development outsourcing market and comprehensively analyze their core competencies
• To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global formulation development outsourcing market
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About EvolveBI
Evolve Business Intelligence is market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune’s global 2000 companies.
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