Life Sciences BPO Market - Forecast(2021 - 2026)

Report Code: HCR 62644 Report Format: PDF + Excel (Delivery in 48 Hrs)

Life Sciences BPO Market Overview

Life Sciences BPO Market size in 2020 is estimated at $229.7 Billion, growing at a CAGR of 15.3% during the forecast period 2021-2026. Business Process Outsourcing (BPO) is the contracting of non-primary business activities and functions to a third-party provider for Pharmaceutical Outsourcing, Medical Devices Outsourcing, Active Pharmaceutical Ingredient (API). Life sciences BPO Market offers a variety of services in research, discovery, development, drug registration, and product launch. Moreover, key factors such as the growing need for pharmaceutical Outsourcing, Medical Devices Outsourcing, and biotechnology companies to accelerate time to market new treatments, reduce research and development (R&D) costs, increase productivity, and comply with regulations. Besides, strategic initiatives, mergers and acquisitions, and product launches for the sciences BPO market enhances the overall market demand for Life Sciences BPO Market during the aforesaid period.

Report Coverage

The report: “Life Sciences BPO Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Life Sciences BPO Market:
By Service: Pharmaceutical Outsourcing, Contract Manufacturing, Contract Research Organizations, Medical Devices Outsourcing, and Contract Sales Organizations (CSO).
By Application: Artificial Intelligence, Machine Learning, and Others.
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia and Others), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand and Others), South America (Brazil, Argentina and others), and Rest of the World (Middle East and Africa).

Key Takeaways

  • In 2020, North America dominated the Life Sciences BPO Market owing to increasing reimbursement policies, the presence of several pharmaceutical Outsourcing companies such as Charles River Laboratories, Covance, Inc., and Catalent, Inc. and their growing focus on core outsourcing activities by these companies.
  •  Increasing productivity and comply with the rules and growing strategic initiatives, mergers and acquisitions and product launches for the life sciences BPO Market across the globe is driving the growth of Life Sciences BPO Market.
  • Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Life Sciences BPO Market report.

Life Sciences BPO Market Segment Analysis - By Service

Based on the Service Type, Life Sciences BPO Market is segmented into Pharmaceutical outsourcing, Contract Manufacturing, Contract Research Organizations, Medical Devices Outsourcing, and Contract Sales Organizations (CSO). The Contract Research Organizations segment is estimated to dominate the market during the period 2021-2026. This is owing to the increasing number of clinical trials, R&D activities, and the increasing demand for new drug therapy in the Life Sciences BPO market. The Contract Manufacturing segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 15.6% during the period 2021-2026. This is attributed as Industry-standard are offering a range of services ranging from screening and toxicology, pre-clinical studies, clinical trials, manufacturing processes, and marketing. Contract Manufacturers (CMOs), which operates in the life sciences industry, has evolved over the last few years in the pharmaceutical outsourcing and active pharmaceutical ingredients (API) industries.

Life Sciences BPO Market Segment Analysis - By Application

Based on the Application, Life Sciences BPO Market is segmented into Artificial Intelligence, Machine Learning, and Others. The Artificial Intelligence segment is estimated to dominate the market during the period 2021-2026. This is attributed to AI is becoming increasingly popular in drug discovery, personalized medicine, biotechnology, and clinical trials. With healthcare spending increasing in almost all parts of the world, the pharmaceutical Outsourcing industry has been engaged in extreme R&D activities over the last few years. The Machine Learning segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 15.9% during the period 2021-2026. This is mainly owing to the increased awareness of business productivity, complemented by competently designed machine learning solutions offered by global vendors.

Life Sciences BPO Market Segment Analysis - By Geography

North America dominated the Life Sciences BPO Market share accounting for 43% of the market in 2020. This is mainly owing to Increased drug and medical device manufacturing costs, reduced reimbursement policies, the presence of several pharmaceutical Outsourcing companies such as Charles River Laboratories, Covance, Inc., and Catalent, Inc., and their growing focus on core outsourcing activities by these companies. However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to the Emerging countries such as India and China are key hubs for the outsourcing market for life sciences business processes. Asian countries operate on a globally accountable active pharmaceutical ingredient (API) and finished product export activities.

Life Science BPO Market Revenue Share, By Regions, 2020(%)


Life Sciences BPO Market Drivers

Increasing Technological Advancements in Life Sciences BPO Market

Increasing Next-gen advancement technologies such as AI and ML are the leading drivers for the BPO life sciences market. Data-driven technologies provide biopharma and MedTech organizations with actionable insights and help them to automate worldly tasks. The recent outbreak of COVID-19 is another key driver of value-added opportunities for CROs. However, robotic process automation (RPA) technology is sweeping the life sciences BPO market. Outsourcing repetitive tasks and manual processes using the RPA technology is anticipated to become increasingly mainstream in developing economies of Asia Pacific for Pharmaceutical Outsourcing, Medical Devices Outsourcing industries.

The increasing cost of drug development, clinical trials, and post-marketing surveillance by biopharma and pharmaceutical drug manufacturers

The increasing cost of drug development, clinical trials, and post-marketing surveillance by biopharma and pharmaceutical drug manufacturers. companies spend tens to hundreds of millions of U.S. dollars on drug development. Moreover, several studies point to increased out-of-pocket clinical costs owing to large clinical trial sizes, high input costs of Pharmaceutical Outsourcing, Medical Devices Outsourcing, Active Pharmaceutical Ingredient (API), With increasing drug development costs and clinical trials, there is a need for efficient BPO services that drive Life Sciences BPO market growth.

Life Sciences BPO Market Challenges

The coronavirus outbreak continues, the life sciences BPO industry life sciences are challenged to continue to advance the treatment pipeline and to ensure adequate supply, business continuity, and rapid innovation. The coronavirus pandemic also affected the supply chain and significantly affected the BPO life sciences industry as well as Pharmaceutical Outsourcing, Medical Devices Outsourcing, Active Pharmaceutical Ingredient (API) Industry. However, the life sciences industry BPO is in a phase of rapid R&D in response to COVID-19. This is major a challenge for Life Sciences BPO Market.

Life Sciences BPO Market Industry Outlook

Product launches, Mergers & Acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Life Sciences BPO Market. Life Sciences BPO Market top 10 companies are Anthelio Healthcare Solutions, Boehringer Ingelheim GmbH, Catalent, Inc, Covance, Inc, Genpact Limited, Infosys Limited, International Business Machines Corporation, Lonza Group, PAREXEL International Corporation, Wipro Limited and, among others.

Developments:

  • In November 2020, Parexel Announces Strategic Collaboration with Synexa Life Sciences and Drawbridge Health for COVID-19 Clinical Serology Testing Solution. The tripartite collaboration will provide a more streamlined solution for a blood sample collection and serology testing for accurate clinical decision-making and improved patient outcomes.
  • In February 2020, Catalent Pharma Solutions has announced that it would acquire the subsidiary of Orgenesis, MaSTherCell Global, a contract development manufacturing organization (CDMO). By this acquisition, The Orgenesis expects the net proceeds from the sale of MaSTherCell to continue to grow its cell therapy business and to further develop advanced therapy medicinal products.

Relevant Reports:

Biopharma Outsourcing Market - Forecast (2021 - 2026)
Report Code: HCR 0253

For more Lifesciences and Healthcare Market reports, please click here

1. Life Sciences BPO Market Overview
    1.1 Definitions and Scope
2. Life Sciences BPO Market Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends by Service Type
    2.3 Key trends by Application Type
    2.4 Key trends by Geography Type
3. Life Sciences BPO Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Service Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Life Sciences BPO Market - Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Life Sciences BPO Market - Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Life Sciences BPO Market Forces
    6.1 Market Drivers
    6.2 Market Constraints and Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Life Sciences BPO Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Life Sciences BPO Market – By Service Type (Market Size -$Million/$Billion)
    8.1 Pharmaceutical outsourcing
    8.2 Contract Manufacturing
        8.2.1 Active Pharmaceutical Ingredients
        8.2.2 Finished Dose Form
        8.2.3 Packaging
    8.3 Contract Research Organizations
        8.3.1 Drug Discovery
        8.3.2 Preclinical Studies
        8.3.3 Clinical Trial Studies
        8.3.4 Pharmacovigilance
        8.3.5 Regulatory Services
    8.4 Medical Devices Outsourcing
        8.4.1 Contract Manufacturing Services
        8.4.2 Electronic Manufacturing Services
        8.4.3 Finished Goods
        8.4.4 Raw Materials/Components
    8.5 Contract Sales Organizations (CSO)
9. Life Sciences BPO Market - By Application Type (Market Size -$Million/$Billion)
    9.1 Artificial Intelligence
    9.2 Machine Learning
    9.3 Others
10. Life Sciences BPO Market - By Geography (Market Size -$Million/$Billion)
    10.1 North America
        10.1.1 U.S
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 U. K
        10.2.2 Germany
        10.2.3 France
        10.2.4 Spain
        10.2.5 Italy
        10.2.6 Russia
        10.2.7 Rest of Europe
    10.3 Asia Pacific
        10.3.1 India
        10.3.2 China
        10.3.3 Japan
        10.3.4 Australia and New Zealand
        10.3.5 South Korea
        10.3.6 Rest of Asia pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
        10.5.2 Africa
11. Life Sciences BPO Market Entropy
12. Life Sciences BPO Market - Industry / Segment Competition landscape Premium Premium
    12.1 Market Share Analysis
        12.1.1 Market Share by Country- Key companies
        12.1.2 Market Share by Region- Key companies
        12.1.3 Market Share at Global Level- Key companies
        12.1.4 Best Practices for Companies
13. Life Sciences BPO Market - Key Company List by Country Premium Premium
14. Life Sciences BPO Market Company Analysis (Company Revenue, Products, M&A, Developments)
    14.1 Anthelio Healthcare Solutions
    14.2 Boehringer Ingelheim GmbH
    14.3 Catalent, Inc.
    14.4 Covance, Inc.
    14.5 Genpact Limited
    14.6 Infosys Limited
    14.7 International Business Machines Corporation
    14.8 Lonza Group
    14.9 PAREXEL International Corporation
    14.10 Wipro Limited
"*Financials for private companies would be provided on a best-efforts basis”.

LIST OF TABLES

1.Global Competitive Landscape Market 2019-2024 ($M)
1.1 Market Participation Categorization Market 2019-2024 ($M) - Global Industry Research
2.Global Competitive Landscape Market 2019-2024 (Volume/Units)
2.1 Market Participation Categorization Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Competitive Landscape Market 2019-2024 ($M)
3.1 Market Participation Categorization Market 2019-2024 ($M) - Regional Industry Research
4.South America Competitive Landscape Market 2019-2024 ($M)
4.1 Market Participation Categorization Market 2019-2024 ($M) - Regional Industry Research
5.Europe Competitive Landscape Market 2019-2024 ($M)
5.1 Market Participation Categorization Market 2019-2024 ($M) - Regional Industry Research
6.APAC Competitive Landscape Market 2019-2024 ($M)
6.1 Market Participation Categorization Market 2019-2024 ($M) - Regional Industry Research
7.MENA Competitive Landscape Market 2019-2024 ($M)
7.1 Market Participation Categorization Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Life Sciences BPO Market Revenue, 2019-2024 ($M)
2.Canada Life Sciences BPO Market Revenue, 2019-2024 ($M)
3.Mexico Life Sciences BPO Market Revenue, 2019-2024 ($M)
4.Brazil Life Sciences BPO Market Revenue, 2019-2024 ($M)
5.Argentina Life Sciences BPO Market Revenue, 2019-2024 ($M)
6.Peru Life Sciences BPO Market Revenue, 2019-2024 ($M)
7.Colombia Life Sciences BPO Market Revenue, 2019-2024 ($M)
8.Chile Life Sciences BPO Market Revenue, 2019-2024 ($M)
9.Rest of South America Life Sciences BPO Market Revenue, 2019-2024 ($M)
10.UK Life Sciences BPO Market Revenue, 2019-2024 ($M)
11.Germany Life Sciences BPO Market Revenue, 2019-2024 ($M)
12.France Life Sciences BPO Market Revenue, 2019-2024 ($M)
13.Italy Life Sciences BPO Market Revenue, 2019-2024 ($M)
14.Spain Life Sciences BPO Market Revenue, 2019-2024 ($M)
15.Rest of Europe Life Sciences BPO Market Revenue, 2019-2024 ($M)
16.China Life Sciences BPO Market Revenue, 2019-2024 ($M)
17.India Life Sciences BPO Market Revenue, 2019-2024 ($M)
18.Japan Life Sciences BPO Market Revenue, 2019-2024 ($M)
19.South Korea Life Sciences BPO Market Revenue, 2019-2024 ($M)
20.South Africa Life Sciences BPO Market Revenue, 2019-2024 ($M)
21.North America Life Sciences BPO By Application
22.South America Life Sciences BPO By Application
23.Europe Life Sciences BPO By Application
24.APAC Life Sciences BPO By Application
25.MENA Life Sciences BPO By Application