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20 Pharmaceutical Technology Europe BIO/PHARMA OUTSOURCING INNOVATION eBOOK 2022 P h a r mTe c h . c o m Development B y the year 2026, the global outsourcing market for formulation development is expected to reach a value worth US$12.65 billion (€11.6 billion), grow- ing at a 7.2% compound annual rate (1). Factors driving this market growth include the rising demand for innovation of novel drugs due to the increasing number of patent expirations for major drugs and the fact that many pharmaceutical and biotechnological companies are trending toward outsourced services for formulation development (1). To learn more about outsourced formulation development services, including various industry trends impacting the sector, challenges for outsourcing partners, and key benefits for outsourcing formulation development, Pharmaceutical Technology Europe spoke with Lynn Allen, vice-president of Business Development at MedPharm. Industry trends PTE: Could you provide insights into industry trends that have affected the formulation development outsourcing market? Allen (MedPharm): The pharmaceutical industry continues to adapt to new business conditions. Life cycle management con- tinues to drive the need for outsourced formulations, often in developing products for alternate routes of delivery. Companies that are looking to improve patient compli- ance or reduce systemic side effects can look at new formu- lations for local delivery through topical dosing. Based on MedPharm's experiences, there have been increases in the demand for formulation services of ophthalmic prepara- tions and respiratory delivery, primarily intranasally. An increase in the number of biologics with targeted topical delivery routes has also been a trend. As a contract de- velopment and manufacturing organization (CDMO) that specializes in dermatological, nail, eye, airway, mucosal membrane, and otic product development, MedPharm continues to support topical formulation development services for local delivery market needs. OLIVIER LE MOAL - STOCK.ADOBE.COM Gaining Formulation Expertise through Partnerships Felicity Thomas A key benefit for companies when outsourcing formulation development is the broad experience they can gain from a dedicated service provider, particularly for niche markets.