Outsourcing Formulation Development and Manufacturing: An Early Approach Saves Time and Money

April 12, 2013
Drug Development & Delivery

The global pharma outsourcing market will likely climb from about $85 billion in 2011 to as much as $150 billion by 2015, states JZMed, Inc., a market research company. Key components of the outsourcing market are formulation development and manufacturing. Demand for outsourced manufacturing will increase from drug developers of all sizes. A new report, Pharmaceutical Contract Manufacturing: World Market Outlook 2012-2022, predicts that the world market for pharmaceutical contract manufacturing was worth $47.6 billion in 2012, and the overall market will grow with a compound annual growth rate (CAGR) of over 6% through 2016.