The pharmaceutical and biotechnology companies are investing large amount in R&D activities to introduce new devices, drugs and discover new treatment strategies. This introduction requires a huge investment. Also, increasing clinical cost due to large clinical trial size and high input cost. All these required efficient BPO services which driving the global life sciences BPO market. According to a recent study by Tufts Center for the Study of Drug, developing a new prescription medicine that gains marketing approval is estimated to cost drugmakers $2.6 billion.
Furthermore, pharmaceutical companies favor outsourcing to sustain the cost of products and their profit. Besides, other aspects such as patent expiry of drugs and stringent environmental regulation have enforced these companies to outsource. These aspects facilitating market development.
On the downside, data privacy and security issues are adversely affecting market growth. However, the growing adoption of digital health platforms and the use of improved technologies in the life sciences BPO industry. Also, favorable government initiatives are contribute to the significant growth for the market during the forecast period.
Life sciences BPO Market Segment Overview
Pharmaceuticals and biopharmaceuticals are the fastest-growing application segment in the market. The number of biotechnology and pharmaceutical companies, as well as laboratories, are adopting the BPO strategy is expected to fuel the market growth in the forthcoming years. Additionally, the recent COVID-19 pandemic is a key driver for creating profitable opportunities for contract sales and marketing organizations. Sales organization has increased the margin of the sales by adopting a BPO strategy which enhances the growth of life sciences BPO market.
Life sciences BPO Market Regional Overview
North America is anticipated to dominate the overall market, throughout the forecast period. This is due to the high healthcare expenditures, the increasing drug, and device manufacturing costs, and efficient data analytics services. Also, the presence of numerous pharmaceuticals, biotech, and medical devices organizations in this region is anticipated to lift the market growth. Furthermore, Asia Pacific is estimated to show noteworthy growth in the market. India and China are the major hubs for the life sciences outsourcing market. Also, favorable government initiatives such as “Make in India”, are expected to boost the life sciences BPO market over the forecast period.
Life sciences BPO Market Competitor overview
Companies are engrossed in collaborations, mergers & acquisitions to improve the market share.
· In November 2020, Parexel, announced a strategic collaboration with Synexa Life Sciences, focused on delivering comprehensive solutions for COVID-19 clinical serology testing. The tripartite collaboration will provide a more streamlined solution for blood sample collection and serology testing for accurate clinical decision-making and improved patient outcomes.
· In November 2019, Syneos Health, Inc. entered into a partnership with AiCure, an AI and advanced data analytics company, to optimize patient engagement and trial success.
· In June 2018, LabCorp®, a leading global life sciences company, announced that it has acquired Sciformix Corporation, a scientific process outsourcing company focused on pharmacovigilance and regulatory solutions for biopharmaceutical and medical devices clients. Sciformix become part of Covance, LabCorp’s drug development business.
Life sciences BPO Market, Key Players
· Accenture plc
· Boehringer Ingelheim GmbH
· Charles River Laboratories International, Inc.
· Covance, Inc.
· Genpact Limited
· Catalent, Inc.
· Infosys
· Health Decisions, Inc.
· Anthelio Healthcare Solutions
· Cognizant Technology Solutions
· ProMab Biotechnologies, Inc.
· Quintiles Transnational Corporation
· Paraxel International Corporation
· Lonza Group
Life sciences BPO Market Segmentation
Life sciences BPO Market, By Service Type
· Pharmaceutical Outsourcing
· Contract Manufacturing
· Contract Research Organizations
· Medical Devices Outsourcing
· Contract Sales Organizations (CSO)
Life sciences BPO Market, By Application
· Medical Device
· Pharmaceuticals and Biopharmaceuticals
Life sciences BPO market, By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Life sciences BPO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Service Type
- 5.2.1. Pharmaceutical Outsourcing
- 5.2.2. Contract Manufacturing
- 5.2.3. Contract Research Organizations
- 5.2.4. Medical Devices Outsourcing
- 5.2.5. Contract Sales Organizations (CSO)
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Medical Device
- 5.3.2. Pharmaceuticals and Biopharmaceuticals
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Latin America
- 5.4.3. Europe
- 5.4.4. Asia Pacific
- 5.4.5. Middle East and Africa
6. North America Life sciences BPO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Service Type
- 6.2.1. Pharmaceutical Outsourcing
- 6.2.2. Contract Manufacturing
- 6.2.3. Contract Research Organizations
- 6.2.4. Medical Devices Outsourcing
- 6.2.5. Contract Sales Organizations (CSO)
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Medical Device
- 6.3.2. Pharmaceuticals and Biopharmaceuticals
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Latin America Life sciences BPO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Service Type
- 7.2.1. Pharmaceutical Outsourcing
- 7.2.2. Contract Manufacturing
- 7.2.3. Contract Research Organizations
- 7.2.4. Medical Devices Outsourcing
- 7.2.5. Contract Sales Organizations (CSO)
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Medical Device
- 7.3.2. Pharmaceuticals and Biopharmaceuticals
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. Brazil
- 7.4.2. Mexico
- 7.4.3. Rest of Latin America
8. Europe Life sciences BPO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Service Type
- 8.2.1. Pharmaceutical Outsourcing
- 8.2.2. Contract Manufacturing
- 8.2.3. Contract Research Organizations
- 8.2.4. Medical Devices Outsourcing
- 8.2.5. Contract Sales Organizations (CSO)
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Medical Device
- 8.3.2. Pharmaceuticals and Biopharmaceuticals
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. UK
- 8.4.2. Germany
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Rest of Europe
9. Asia Pacific Life sciences BPO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Service Type
- 9.2.1. Pharmaceutical Outsourcing
- 9.2.2. Contract Manufacturing
- 9.2.3. Contract Research Organizations
- 9.2.4. Medical Devices Outsourcing
- 9.2.5. Contract Sales Organizations (CSO)
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Medical Device
- 9.3.2. Pharmaceuticals and Biopharmaceuticals
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Australia
- 9.4.5. South East Asia
- 9.4.6. Rest of Asia Pacific
10. Middle East & Africa Life sciences BPO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Service Type
- 10.2.1. Pharmaceutical Outsourcing
- 10.2.2. Contract Manufacturing
- 10.2.3. Contract Research Organizations
- 10.2.4. Medical Devices Outsourcing
- 10.2.5. Contract Sales Organizations (CSO)
- 10.3. Market Analysis, Insights and Forecast – By Application
- 10.3.1. Medical Device
- 10.3.2. Pharmaceuticals and Biopharmaceuticals
- 10.4. Market Analysis, Insights and Forecast – By Country
- 10.4.1. GCC
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. Accenture plc
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. Boehringer Ingelheim GmbH
- 11.6. Charles River Laboratories International, Inc.
- 11.7. Covance, Inc.
- 11.8. Genpact Limited
- 11.9. Catalent, Inc.
- 11.10. Infosys
- 11.11. Health Decisions, Inc.
- 11.12. Anthelio Healthcare Solutions
- 11.13. Cognizant Technology Solutions
- 11.14. ProMab Biotechnologies, Inc.
- 11.15. Quintiles Transnational Corporation
- 11.16. Paraxel International Corporation
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
