Life sciences BPO Market Overview 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 OverviewPharmaceuticals 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 OverviewNorth 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 overviewCompanies 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 SegmentationLife 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
- 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
List of Figures
Figure 1: Global Life sciences BPO Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Life sciences BPO Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Life sciences BPO Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Life sciences BPO Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Life sciences BPO Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Life sciences BPO Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Life sciences BPO Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Life sciences BPO Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Life sciences BPO Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Life sciences BPO Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Life sciences BPO Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Life sciences BPO Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Life sciences BPO Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Life sciences BPO Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Life sciences BPO Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Life sciences BPO Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Life sciences BPO Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Life sciences BPO Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Life sciences BPO Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Life sciences BPO Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Life sciences BPO Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Life sciences BPO Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Life sciences BPO Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Life sciences BPO Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Life sciences BPO Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Life sciences BPO Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Life sciences BPO Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Life sciences BPO Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Life sciences BPO Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Life sciences BPO Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Life sciences BPO Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Life sciences BPO Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Life sciences BPO Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Life sciences BPO Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Life sciences BPO Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Life sciences BPO Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Life sciences BPO Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Life sciences BPO Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Life sciences BPO Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Life sciences BPO Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Life sciences BPO Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Research Process
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
Primary Research
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 Research
Secondary 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 Estimation
Both, 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
