Formulation Development Outsourcing Market 2023 | Industry Developments, Growth, Demand, and Forecast to 2032
The Formulation Development Outsourcing Global Market Report 2023, provides comprehensive information on the formulation development outsourcing market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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Market’s Growth:
As per The Business Research Company’s
Formulation Development Outsourcing Global Market Report 2023, the global
formulation development outsourcing market size is expected to grow from $25
billion in 2022 to $27.49 billion in 2023 at a compound annual growth rate
(CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global
economic recovery from the COVID-19 pandemic, at least in the short term. The
war between these two countries has led to economic sanctions on multiple
countries, a surge in commodity prices, and supply chain disruptions, causing
inflation across goods and services and affecting many markets across the
globe. The global formulation development outsourcing market size is expected
to reach $39.3 billion in 2027 at a CAGR of 9.3%.
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The formulation
development outsourcing market is segmented:
North America was the largest region in the
formulation development outsourcing market in 2022.
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