Global Life Sciences Business Processing Outsourcing Market, By Service Type (Contract Manufacturing Organizations, Contract Research Organizations, Contract Sales and Marketing Organizations, Others), Application (Clinical Trials, Patient-Centric, R&D Activities, Digital Era), Technology (Artificial Intelligence, Machine Learning, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Life Sciences Business Processing Outsourcing Market
Life sciences business processing outsourcing market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of 455.36 billion and grow at a CAGR of 7.58% in the above-mentioned forecast period. Increasing prevalence of various diseases drives the life sciences business processing outsourcing market.
BPO has a very vital role to play in the life science industry. Biotechnology companies and pharmaceutical companies are constantly facing issues due to economic instability. The patent expiry of several important drugs and the stringent regulatory environment are leading to decreasing profit margins to many life sciences companies. Life science BPO service helps in providing companies to optimize their business processes by helping them in manufacturing processes, research processes, and sales processes.
Increasing costs of drug development, pre-clinical research, clinical trials, and post-marketing surveillance is the vital factor escalating the market growth, also rising geriatric population, rising need of pharmaceutical and biotechnology companies to speed up the time to market new treatments, reduce the cost of research and development (R&D), increasing favorable government initiatives and increasing adoption of digital health platforms, rising use of advanced technologies in the life sciences BPO industry, increased productivity and comply with regulations, rising strategic initiatives, mergers & acquisitions, and product launches for the life sciences BPO market and rising prevalence rate of COVID-19 are the major factors among others driving the life sciences business processing outsourcing market. Moreover, increasing incidences of M&A of CDMO/CRO with big pharma companies along with increasing modernization in the healthcare sector will further create new opportunities for life sciences business processing outsourcing market in the forecasted period of 2021-2028.
However, rising stringent regulatory approvals of drugs and rising data privacy and security concerns are the major factors among others which will obstruct the market growth, and will further challenge the growth of life sciences business processing outsourcing market in the forecast period mentioned above.
This life sciences business processing outsourcing market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on life sciences business processing outsourcing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Life Sciences Business Processing Outsourcing Market Scope and Market Size
Life sciences business processing outsourcing market is segmented on the basis of service type, application and technology. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of service type, the life sciences business processing outsourcing market is segmented into contract manufacturing organizations, contract research organizations, contract sales and marketing organizations and others. Contract manufacturing organizations have been further segmented into API manufacturing, final dosage form manufacturing and packaging. Contract research organizations have been further segmented into drug discovery, preclinical studies, early phase I - IIa, phase IIa - III, phase IIIb - IV, medical writing, pharmacovigilance, monitoring, clinical data management, regulatory services, bio-statistics, site management and protocol development.
- Based on application, the life sciences business processing outsourcing market is segmented into clinical trials, patient-centric, R&D activities and digital era.
- The life sciences business processing outsourcing market is also segmented on the basis of technology into artificial intelligence, machine learning and others.
Global Life Sciences Business Processing Outsourcing Market Country Level Analysis
Life sciences business processing outsourcing market is analysed and market size insights and trends are provided by country, service type, application and technology as referenced above.
The countries covered in the life sciences business processing outsourcing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the life sciences business processing outsourcing market due to increased healthcare expenditures, rising drug, and device manufacturing costs, marketing expenses, rising number of reimbursement claims, data processing, and data analytics services in this region.
The country section of the life sciences business processing outsourcing market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Life sciences business processing outsourcing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for life sciences business processing outsourcing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the life sciences business processing outsourcing market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Life Sciences Business Processing Outsourcing Market Share Analysis
Life sciences business processing outsourcing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to life sciences business processing outsourcing market.
The major players covered in the life sciences business processing outsourcing market report are Accenture, Boehringer Ingelheim International GmbH., Catalent, Inc, Charles River Laboratories., Cognizant, DSM, Covance, Fareva, Infosys Limited, Lonza., PPD Inc., Parexel International Corporation., Piramal Enterprises Ltd., WuXi AppTec, PRA Health Sciences, Wipro Limited, Genpact, Atos SE and ProMab among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.