Outsourced Clinical Trials & Formulation Market by Product Type, End-Users, and Geography : Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research presents an in-depth analysis of the global Outsourced Clinical Trials & Formulation Market, providing comprehensive insights into market dynamics, growth drivers, challenges, and emerging trends. This report serves as a valuable resource for stakeholders, offering detailed data and statistics to navigate the market landscape from 2024 to 2031.

The global outsourced clinical trials & formulation market is set to record a market value of US$ 16 Bn in 2024, and expand at a CAGR of 6.7% to reach a market valuation of US$ 19.6 Bn by the end of 2031.

Report Scope:

Estimated Market Value (2024): USD 16 Billion
Projected Market Value (2031): USD 25.19 Billion
Global Market Growth Rate (CAGR 2024 to 2031): 6.7%

Outsourced Clinical Trials & Formulation Market - Report Scope:

The increasing complexity of clinical trials, coupled with the growing emphasis on regulatory compliance and quality assurance, has led pharmaceutical and biotechnology companies to outsource clinical trial services and formulation development. Outsourcing enables these companies to access specialized expertise, reduce costs, and accelerate the drug development process. Furthermore, the rise of precision medicine and personalized therapies has increased the demand for outsourced clinical trials & formulation services, as companies seek to tailor treatments to individual patient populations.

Market Growth Drivers:

The outsourcing of clinical trials & formulation services is driven by several factors, including the need for specialized expertise, cost containment, and increased efficiency. Outsourcing allows pharmaceutical and biotechnology companies to access a global network of contract research organizations (CROs) and formulation development firms, enabling them to tap into diverse skill sets and resources. Additionally, outsourcing enables companies to focus on their core competencies while leveraging the capabilities of specialized service providers. The increasing complexity of drug development, coupled with the need for accelerated timelines, further drives the demand for outsourced clinical trials & formulation services.

Market Restraints:

Despite its numerous benefits, outsourcing clinical trials & formulation services also presents challenges and risks. These include concerns regarding data security, intellectual property protection, and regulatory compliance. Additionally, the fragmentation of the outsourcing landscape, with numerous CROs and formulation development firms competing for business, can make it challenging for pharmaceutical and biotechnology companies to identify and select the right partners. Furthermore, cultural differences, communication barriers, and logistical challenges associated with global outsourcing can hinder collaboration and project execution.

Market Opportunities:

The outsourcing of clinical trials & formulation services presents significant opportunities for service providers to expand their offerings and geographic reach. With the increasing demand for specialized expertise in areas such as oncology, rare diseases, and biologics, CROs and formulation development firms can differentiate themselves by building niche capabilities and developing innovative solutions. Moreover, the adoption of advanced technologies such as artificial intelligence, machine learning, and real-world data analytics presents opportunities to enhance the efficiency and effectiveness of clinical trial operations and formulation development processes.

Key Questions Addressed in the Report:

What is the Expected Value CAGR of the Outsourced Clinical Trials & Formulation Market?
What are the Key Factors Driving the Growth of the Outsourced Clinical Trials & Formulation Market?
Who are the Key Players in the Global Outsourced Clinical Trials & Formulation Market?
Which Region Holds the Largest Market Share in the Outsourced Clinical Trials & Formulation Market?
What Strategies are Adopted by Leading Companies to Sustain Growth in the Outsourced Clinical Trials & Formulation Market?

Competitive Landscape and Business Strategies:

Prominent players in the outsourced clinical trials & formulation market include IQVIA, PPD, Charles River Laboratories, and Covance. These companies focus on expanding their service offerings, geographic presence, and technological capabilities to maintain their competitive edge. Strategies such as mergers and acquisitions, strategic partnerships, and investments in R&D are commonly employed to drive growth and enhance market position. Additionally, the adoption of quality management systems, risk-based monitoring, and real-time data analytics is becoming increasingly important to meet the evolving needs of pharmaceutical and biotechnology companies.

Key Companies Profiled:

Thermo Fisher Scientific Inc. (Patheon)
Piramal Pharma Solutions
BioXcellence (Boehringer Ingelheim International GmbH)
Siegfried Holding AG
Evotec A.G.
Ascendia Pharmaceuticals
Experic Services
Quotient Sciences
Velesco Pharmaceutical Services, Inc.
Elements Group (Avomeen)

Outsourced Clinical Trials & Formulation Market Segmentation:

By Product:

Oral dosage Forms

oSolid dosage Forms

oLiquid Dosage Forms

oSemi-solid Dosage Forms

Injectable Dosage Forms
Others

By Application:

API Manufacturing
Fill-Finish Product Manufacturing
Drug Product Development
Packaging / labeling
Others

By End User:

Big Pharmaceutical /Biotech Companies
Small & Medium Size Pharma/Biotech Companies
Emerging/virtual Pharma Companies
Nutraceutical Companies

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Product Code: PMRREP33016

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market
3.2. Product Innovation/ Development Trends

4. Key Success factors

4.1. Key Strategies Adopted by market players
4.2. Porters Analysis
4.3. PESTLE Analysis
4.4. Key Regulations
4.5. Value Chain Analysis

5. Market Background

5.1. Macro-Economic Factors
- 5.1.1. Global GDP Growth Outlook
- 5.1.2. Global Healthcare Outlook
5.2. Forecast Factors - Relevance & Impact
- 5.2.1. Rising Geriatric Population
- 5.2.2. Rising incidence of Chronic Diseases
- 5.2.3. Patent Expiry and Increasing Demand For Generic Drugs
5.3. Market Dynamics
- 5.3.1. Drivers
- 5.3.2. Restraints
- 5.3.3. Opportunity Analysis

6. COVID19 Crisis Analysis

6.1. Current Perspectives on Coronavirus Outbreak
6.2. Current Economic Outlook & Recovery Scenario
6.3. COVID19 and Impact Analysis
- 6.3.1. Revenue By Product
- 6.3.2. Revenue By End User
- 6.3.3. Revenue By Region

7. Global Outsourced Clinical Trials & Formulation Market Demand (in Value or Size in US$ Mn) Analysis 2019-2023 and Forecast 2024-2031, by Product

7.1. Historical Market Value (US$ Mn) Analysis, 2019-2023
7.2. Current and Future Market Value (US$ Mn) Projections, 2024-2031
- 7.2.1. Y-o-Y Growth Trend Analysis
- 7.2.2. Absolute $ Opportunity Analysis

8. Global Outsourced Clinical Trials & Formulation Market Analysis 2019-2023 and Forecast 2024-2031, by Product

8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) Analysis By Product, 2019-2023
8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Product, 2024-2031
- 8.3.1. Oral Dosage Products
  - 8.3.1.1. Solid dosage Product
  - 8.3.1.2. Liquid Dosage Product
  - 8.3.1.3. Semi-solid Dosage Product
- 8.3.2. Injectable Dosage Product
- 8.3.3. Others
8.4. Market Attractiveness Analysis By Product

9. Global Outsourced Clinical Trials & Formulation Market Analysis 2019-2023 and Forecast 2024-2031, by Application

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) Analysis By Application, 2019-2023
9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Application, 2024-2031
- 9.3.1. API Manufacturing
- 9.3.2. Fill Finish Product Manufacturing
- 9.3.3. Drug Product Development
- 9.3.4. Packaging / Labelling
- 9.3.5. Others
9.4. Market Attractiveness Analysis By Application

10. Global Outsourced Clinical Trials & Formulation Market Analysis 2019-2023 and Forecast 2024-2031, by End User

10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) Analysis By End User, 2019-2023
10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2024-2031
- 10.3.1. Big Pharmaceutical and Biotech Companies
- 10.3.2. Small and Medium Size Pharma/Biotech Companies
- 10.3.3. Emerging/Virtual Pharma Companies
- 10.3.4. Nutraceutical Companies
10.4. Market Attractiveness Analysis By End User

11. Global Outsourced Clinical Trials & Formulation Market Analysis 2019-2023 and Forecast 2024-2031, by Region

11.1. Introduction
11.2. Historical Market Size (US$ Mn) Analysis By Region, 2019-2023
11.3. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2024-2031
- 11.3.1. North America
- 11.3.2. Europe
- 11.3.3. Asia pacific
- 11.3.4. Rest of the World
11.4. Market Attractiveness Analysis By Region

12. North America Outsourced Clinical Trials & Formulation Market Analysis 2019-2023 and Forecast 2024-2031

12.1. Introduction
12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
12.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2031
- 12.3.1. By Country
  - 12.3.1.1. U.S.
  - 12.3.1.2. Canada
- 12.3.2. By Product
- 12.3.3. By Application
- 12.3.4. By End User
12.4. Market Attractiveness Analysis
12.5. Drivers and Restraints - Impact Analysis

13. Europe Outsourced Clinical Trials & Formulation Market Analysis 2019-2023 and Forecast 2024-2031

13.1. Introduction
13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2031
- 13.3.1. By Country
  - 13.3.1.1. U.K.
  - 13.3.1.2. Germany
  - 13.3.1.3. France
  - 13.3.1.4. Italy
  - 13.3.1.5. Spain
  - 13.3.1.6. BENELUX
  - 13.3.1.7. Russia
  - 13.3.1.8. BENELUX
  - 13.3.1.9. Rest of Europe
- 13.3.2. By Product
- 13.3.3. By Application
- 13.3.4. By End User
13.4. Market Attractiveness Analysis
13.5. Drivers and Restraints - Impact Analysis

14. Asia Pacific Outsourced Clinical Trials & Formulation Market Analysis 2019-2023 and Forecast 2024-2031

14.1. Introduction
14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2031
- 14.3.1. By Country
  - 14.3.1.1. China
  - 14.3.1.2. Japan
  - 14.3.1.3. South Korea
  - 14.3.1.4. India
  - 14.3.1.5. Australia and New Zealand
  - 14.3.1.6. ASEAN
  - 14.3.1.7. Rest of Asia Pacific
- 14.3.2. By Product
- 14.3.3. By Application
- 14.3.4. By End User
14.4. Market Attractiveness Analysis
14.5. Drivers and Restraints - Impact Analysis

15. Rest of the World Outsourced Clinical Trials & Formulation Market Analysis 2019-2023 and Forecast 2024-2031

15.1. Introduction
15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2031
- 15.3.1. By Product
- 15.3.2. By Application
- 15.3.3. By End User
15.4. Market Attractiveness Analysis
15.5. Drivers and Restraints - Impact Analysis

16. Market Structure Analysis

16.1. Market Analysis y Tier of Companies
16.2. Market Share Analysis of Top Players

17. Competition Analysis

17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Competition Deep Dive (Tentative List)
- 17.3.1. Lonza Group
  - 17.3.1.1. Overview
  - 17.3.1.2. Product Portfolio
  - 17.3.1.3. Key Financials
  - 17.3.1.4. SWOT Analysis
  - 17.3.1.5. Sales Footprint
  - 17.3.1.6. Strategy Overview
- 17.3.2. Catalent, Inc.
  - 17.3.2.1. Overview
  - 17.3.2.2. Product Portfolio
  - 17.3.2.3. Key Financials
  - 17.3.2.4. SWOT Analysis
  - 17.3.2.5. Sales Footprint
  - 17.3.2.6. Strategy Overview
- 17.3.3. Thermo Fisher Scientific Inc. (Patheon)
  - 17.3.3.1. Overview
  - 17.3.3.2. Product Portfolio
  - 17.3.3.3. Key Financials
  - 17.3.3.4. SWOT Analysis
  - 17.3.3.5. Sales Footprint
  - 17.3.3.6. Strategy Overview
- 17.3.4. Piramal Pharma Solutions
  - 17.3.4.1. Overview
  - 17.3.4.2. Product Portfolio
  - 17.3.4.3. Key Financials
  - 17.3.4.4. SWOT Analysis
  - 17.3.4.5. Sales Footprint
  - 17.3.4.6. Strategy Overview
- 17.3.5. BioXcellence (Boehringer Ingelheim International GmbH)
  - 17.3.5.1. Overview
  - 17.3.5.2. Product Portfolio
  - 17.3.5.3. Key Financials
  - 17.3.5.4. SWOT Analysis
  - 17.3.5.5. Sales Footprint
  - 17.3.5.6. Strategy Overview
- 17.3.6. Siegfried Holding AG
  - 17.3.6.1. Overview
  - 17.3.6.2. Product Portfolio
  - 17.3.6.3. Key Financials
  - 17.3.6.4. SWOT Analysis
  - 17.3.6.5. Sales Footprint
  - 17.3.6.6. Strategy Overview
- 17.3.7. Evotec A.G.
  - 17.3.7.1. Overview
  - 17.3.7.2. Product Portfolio
  - 17.3.7.3. Key Financials
  - 17.3.7.4. SWOT Analysis
  - 17.3.7.5. Sales Footprint
  - 17.3.7.6. Strategy Overview
- 17.3.8. Ascendia Pharmaceuticals
  - 17.3.8.1. Overview
  - 17.3.8.2. Product Portfolio
  - 17.3.8.3. Key Financials
  - 17.3.8.4. SWOT Analysis
  - 17.3.8.5. Sales Footprint
  - 17.3.8.6. Strategy Overview
- 17.3.9. Experic Services
  - 17.3.9.1. Overview
  - 17.3.9.2. Product Portfolio
  - 17.3.9.3. Key Financials
  - 17.3.9.4. SWOT Analysis
  - 17.3.9.5. Sales Footprint
  - 17.3.9.6. Strategy Overview
- 17.3.10. Quotient Sciences
  - 17.3.10.1. Overview
  - 17.3.10.2. Product Portfolio
  - 17.3.10.3. Key Financials
  - 17.3.10.4. SWOT Analysis
  - 17.3.10.5. Sales Footprint
  - 17.3.10.6. Strategy Overview
- 17.3.11. Velesco Pharmaceutical Services, Inc.
  - 17.3.11.1. Overview
  - 17.3.11.2. Product Portfolio
  - 17.3.11.3. Key Financials
  - 17.3.11.4. SWOT Analysis
  - 17.3.11.5. Sales Footprint
  - 17.3.11.6. Strategy Overview
- 17.3.12. Elements Group (Avomeen)
  - 17.3.12.1. Overview
  - 17.3.12.2. Product Portfolio
  - 17.3.12.3. Key Financials
  - 17.3.12.4. SWOT Analysis
  - 17.3.12.5. Sales Footprint
  - 17.3.12.6. Strategy Overview
- 17.3.13. VxP Pharma
  - 17.3.13.1. Overview
  - 17.3.13.2. Product Portfolio
  - 17.3.13.3. Key Financials
  - 17.3.13.4. SWOT Analysis
  - 17.3.13.5. Sales Footprint
  - 17.3.13.6. Strategy Overview
- 17.3.14. Adare Pharmaceuticals, Inc.
  - 17.3.14.1. Overview
  - 17.3.14.2. Product Portfolio
  - 17.3.14.3. Key Financials
  - 17.3.14.4. SWOT Analysis
  - 17.3.14.5. Sales Footprint
  - 17.3.14.6. Strategy Overview
- 17.3.15. KP Pharmaceutical Technology Inc.
  - 17.3.15.1. Overview
  - 17.3.15.2. Product Portfolio
  - 17.3.15.3. Key Financials
  - 17.3.15.4. SWOT Analysis
  - 17.3.15.5. Sales Footprint
  - 17.3.15.6. Strategy Overview
- 17.3.16. Enteris Biopharma, Inc.
  - 17.3.16.1. Overview
  - 17.3.16.2. Product Portfolio
  - 17.3.16.3. Key Financials
  - 17.3.16.4. SWOT Analysis
  - 17.3.16.5. Sales Footprint
  - 17.3.16.6. Strategy Overview
- 17.3.17. Aenova Holding GmbH
  - 17.3.17.1. Overview
  - 17.3.17.2. Product Portfolio
  - 17.3.17.3. Key Financials
  - 17.3.17.4. SWOT Analysis
  - 17.3.17.5. Sales Footprint
  - 17.3.17.6. Strategy Overview
- 17.3.18. Ardena Holding NV
  - 17.3.18.1. Overview
  - 17.3.18.2. Product Portfolio
  - 17.3.18.3. Key Financials
  - 17.3.18.4. SWOT Analysis
  - 17.3.18.5. Sales Footprint
  - 17.3.18.6. Strategy Overview
- 17.3.19. Pharmaceutics International, Inc.
  - 17.3.19.1. Overview
  - 17.3.19.2. Product Portfolio
  - 17.3.19.3. Key Financials
  - 17.3.19.4. SWOT Analysis
  - 17.3.19.5. Sales Footprint
  - 17.3.19.6. Strategy Overview
- 17.3.20. Alcami Corporation, Inc.
  - 17.3.20.1. Overview
  - 17.3.20.2. Product Portfolio
  - 17.3.20.3. Key Financials
  - 17.3.20.4. SWOT Analysis
  - 17.3.20.5. Sales Footprint
  - 17.3.20.6. Strategy Overview
- 17.3.21. NextPharma Technologies
  - 17.3.21.1. Overview
  - 17.3.21.2. Product Portfolio
  - 17.3.21.3. Key Financials
  - 17.3.21.4. SWOT Analysis
  - 17.3.21.5. Sales Footprint
  - 17.3.21.6. Strategy Overview
- 17.3.22. Corden Pharma International GmbH
  - 17.3.22.1. Overview
  - 17.3.22.2. Product Portfolio
  - 17.3.22.3. Key Financials
  - 17.3.22.4. SWOT Analysis
  - 17.3.22.5. Sales Footprint
  - 17.3.22.6. Strategy Overview
- 17.3.23. Corerx, Inc.
  - 17.3.23.1. Overview
  - 17.3.23.2. Product Portfolio
  - 17.3.23.3. Key Financials
  - 17.3.23.4. SWOT Analysis
  - 17.3.23.5. Sales Footprint
  - 17.3.23.6. Strategy Overview
- 17.3.24. Recipharm AB
  - 17.3.24.1. Overview
  - 17.3.24.2. Product Portfolio
  - 17.3.24.3. Key Financials
  - 17.3.24.4. SWOT Analysis
  - 17.3.24.5. Sales Footprint
  - 17.3.24.6. Strategy Overview
- 17.3.25. Pace Analytical Services, LLC
  - 17.3.25.1. Overview
  - 17.3.25.2. Product Portfolio
  - 17.3.25.3. Key Financials
  - 17.3.25.4. SWOT Analysis
  - 17.3.25.5. Sales Footprint
  - 17.3.25.6. Strategy Overview
- 17.3.26. Almac Group, Inc.
  - 17.3.26.1. Overview
  - 17.3.26.2. Product Portfolio
  - 17.3.26.3. Key Financials
  - 17.3.26.4. SWOT Analysis
  - 17.3.26.5. Sales Footprint
  - 17.3.26.6. Strategy Overview
- 17.3.27. Cambrex Corporation
  - 17.3.27.1. Overview
  - 17.3.27.2. Product Portfolio
  - 17.3.27.3. Key Financials
  - 17.3.27.4. SWOT Analysis
  - 17.3.27.5. Sales Footprint
  - 17.3.27.6. Strategy Overview
- 17.3.28. Rottendorf Pharma GmbH
  - 17.3.28.1. Overview
  - 17.3.28.2. Product Portfolio
  - 17.3.28.3. Key Financials
  - 17.3.28.4. SWOT Analysis
  - 17.3.28.5. Sales Footprint
  - 17.3.28.6. Strategy Overview
- 17.3.29. Glatt GmbH
  - 17.3.29.1. Overview
  - 17.3.29.2. Product Portfolio
  - 17.3.29.3. Key Financials
  - 17.3.29.4. SWOT Analysis
  - 17.3.29.5. Sales Footprint
  - 17.3.29.6. Strategy Overview
- 17.3.30. Hovione
  - 17.3.30.1. Overview
  - 17.3.30.2. Product Portfolio
  - 17.3.30.3. Key Financials
  - 17.3.30.4. SWOT Analysis
  - 17.3.30.5. Sales Footprint
  - 17.3.30.6. Strategy Overview
- 17.3.31. Aphena Pharma Solutions
  - 17.3.31.1. Overview
  - 17.3.31.2. Product Portfolio
  - 17.3.31.3. Key Financials
  - 17.3.31.4. SWOT Analysis
  - 17.3.31.5. Sales Footprint
  - 17.3.31.6. Strategy Overview
- 17.3.32. HERMES PHARMA GmbH
  - 17.3.32.1. Overview
  - 17.3.32.2. Product Portfolio
  - 17.3.32.3. Key Financials
  - 17.3.32.4. SWOT Analysis
  - 17.3.32.5. Sales Footprint
  - 17.3.32.6. Strategy Overview