R&D life sciences BPO services include, competitive intelligence, R&D portfolio management, pipeline research, and epidemiology. Drug development services include, clinical data management, biometrics, pharmacovigilance, and regulatory services.
Statistics:
The global life sciences BPO market is estimated to account for US$ 667.3 Bn in terms of value by the end of 2027.
Global Life Sciences BPO Market: Drivers
Increasing prevalence of Covid-19 and subsequent R&D activities are expected to propel growth of the global life sciences BPO market over the forecast period. For instance, as of May 2020, there have been 5,939,234 confirmed cases of COVID-19, including 367,255 deaths worldwide, as reported to the World Health Organization.
Note: *The Download PDF brochure only consists of Table of Content, Research Framework, and Research Methodology.
Request PDF Research Report Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/24
Global Life Sciences BPO Market: Opportunities
Partnership of major pharmaceutical companies with CROs is expected to offer lucrative growth opportunities for players in the global life sciences BPO market over the forecast period. For instance, in May 2020, Daré Bioscience, Inc., a developer of women’s health solutions partnered with Health Decisions, Inc., a full-service contract research organization (CRO) specializing in women’s health clinical research and diagnostic development, under which Health Decisions will exclusively provide CRO services within the U.S. to support R&D of Daré’s pipeline of contraception, fertility, and gynecological disorders products.
Global Life Sciences BPO Market: Restraints
Unforeseen costs are expected to hinder growth of the global life sciences BPO market. Depending on the research process, location, risk, and other factors, the pricing models of CROs vary and this sometimes exceeds the budget limitation of pharmaceutical companies. Such unstable costs and pricing models of CROs are considered as one of the major challenges to the market.
Key Takeaways:
The global life sciences BPO market was valued at US$ 255.6 Bn in 2019 and is forecast to reach a value of US$ 667.3 Bn by 2027 at a CAGR of 14.7% between 2020 and 2027. Increasing partnership of major pharmaceutical companies with CROs is expected drive the market during the forecast period.
Special Requirements?
We value your investment and offer customization as per your requirements.
Share your precise requirements @ https://www.coherentmarketinsights.com/insight/request-customization/24
CMO segment held dominant position in the global life sciences BPO market in 2019, accounting for 65.8% share in terms of value. Increasing demand for novel drug products for treatment of chronic diseases is anticipated to propel the market growth.
Market Trends
Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in December 2019, Accenture, plc acquired Apis Group, a privately held consultancy based in Australia, to expand its services to government and health clients in Australia.
Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in August 2019, Boehringer Ingelheim partnered with The University of Texas MD Anderson Cancer Center to conduct collaborative research to rapidly advance therapies for various types of cancers.
Global Life Sciences BPO Market: Competitive Landscape
Major players operating in the global Life Sciences BPO market include, Accenture, Plc, Boehringer Ingelheim GmbH, Charles River Laboratories International, Inc., Cognizant Technology Solutions, Covance, Inc., DSM, Fareva, ICON, Plc, Infosys, Catalent, Inc., Genpact Limited, Health Decisions, Inc., and ProMab Biotechnologies, Inc.
Browse Press Release: https://www.coherentmarketinsights.com/press-release/life-sciences-bpo-market-to-reach-us-505-billion-by-2024-1
Global Life Sciences BPO Market: Key Developments
May 2020: Catalent, Inc. presented proactive strategies to avoid supply delays at the ‘Outsourcing in Clinical Trials 2020 – A Virtual Experience’ conference
January 2020: Charles River Laboratories International, Inc. partnered with Fios Genomics, a provider of bioinformatics data analysis services, to offer bioinformatics-driven drug discovery and safety assessment.
Access research reports that are tailored specifically for you and your organization in order to explore practical growth strategies and recommendations
Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/24
Segmentation
- Global Life Sciences BPO Market, By Service Type:
- CMO
- API Manufacturing
- Final dosage form manufacturing
- Packaging
- CRO
- 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
- Protocol development
- Others
- CMO
- Global Life Sciences BPO Market, By Region:
- North America
- By Service Type:
- CMO
- API Manufacturing
- Final dosage form manufacturing
- Packaging
- CRO
- Drug Discovery
- Preclinical studies
- Early Phase I – IIa
- Phase IIa – III
- Phase IIIb – IV
- Medical writing
- Pharmcovigilance
- Monitoring
- Clinical Data Management
- Regulatory services
- Bio-statistics
- Site management
- Protocol development
- Others
- CMO
- By Country
- U.S.
- Canada
- By Service Type:
- Latin America
- By Service Type:
- CMO
- CRO
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Service Type:
- Europe
- By Service Type:
- CMO
- CRO
- By Country
- U.K.
- Germany
- France
- Spain
- Italy
- Russia
- Rest of Europe
- By Service Type:
- Asia Pacific
- By Service Type:
- CMO
- CRO
- By Country
- China
- Japan
- India
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Service Type:
- Middle East
- By Service Type:
- CMO
- CRO
- By Country
- GCC Countries
- Israel
- Rest of Middle East
- By Service Type:
- Africa
- By Service Type:
- CMO
- CRO
- By Country
- North Africa
- Central Africa
- South Africa
- By Service Type:
- North America
- Company Profiles
- Accenture, Plc. *
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Strategies
- Boehringer Ingelheim GmbH
- Charles River Laboratories International, Inc.
- Cognizant Technology Solutions
- Covance, Inc.
- DSM
- Fareva
- ICON, Plc
- Infosys
- Catalent, Inc.
- Genpact Limited
- Health Decisions, Inc.
- Health Decisions, Inc.
- Accenture, Plc. *
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
To know more about us, please visit our website – www.coherentmarketinsights.com
Contact:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837