Product Code: CMI24
Global life sciences BPO market is estimated to be valued at USD 408.1 Bn in 2024 and is expected to reach USD 972.2 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.2% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 408.1 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
13.20% |
2031 Value Projection: |
US$ 972.2 Bn |
Figure. Life Sciences BPO Market Share (%), By Region 2024
The life sciences BPO market comprises outsourcing services provided to pharmaceutical, biotechnology, medical device companies and others in the healthcare industry. It helps life sciences companies to focus on core activities of drug discovery, product development and commercialization. Services like regulatory affairs management, clinical data management, medical writing and publishing, pharmacovigilance, medical monitoring and other clinical trial related services are outsourced to specialized BPO players. Factors such as cost optimization, access to advanced infrastructure and expertise, complex regulatory frameworks and need to streamline operations has increased outsourcing in the life sciences sector.
Market Dynamics:
Global life sciences BPO market growth is driven by rising need for cost-optimization among life sciences companies coupled with benefits of access to advanced infrastructure and expertise delivered by BPO service providers. Moreover, regulatory frameworks for drug development and approval have become highly complex over the years, thus, necessitating outsourcing of non-core functionalities. Changing dynamics of the healthcare industry including shift towards value-based care has also prompted life sciences players to streamline their operations through strategic outsourcing. However, factors such as data security concerns, loss of control over critical functions and operational challenges associated with vendor management can hamper the market growth. Growing healthcare expenditure in developing regions, development of biosimilars & genomic drugs and integration of AI/blockchain to enhance BPO services can offer market growth opportunities.
Key Features of the Study:
This report provides in-depth analysis of the global life sciences BPO market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global life sciences BPO market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Cognizant, Accenture, Genpact, EXL services, and Catalent
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global life sciences BPO market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global life sciences BPO market
Detailed Segmentation-
- By Service Type
- Pharmaceutical outsourcing
- Contract manufacturing market
- API
- Finished dose form
- Packaging
- Contract research organizations
- Drug discovery
- Preclinical studies
- Clinical trial studies
- Regulatory services
- Pharmacovigilance
- Medical devices outsourcing
- Contract manufacturing market
- Electronic manufacturing services
- Finished goods
- Raw materials/components
- Contract research organizations
- Regulatory consulting services
- Product design and development services
- Product testing services
- Product implementation services
- Product upgrade services
- Product maintenance services
- Contract sales & market outsourcing
- Others
- By End User
- Pharmaceutical Companies
- Biotechnology Companies
- Contract Research Organizations Medical Device Companies
- Academic Institutes & Government Organizations
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
- Company Profiles:
- Accenture, Plc
- Boehringer Ingelheim GmbH
- Cognizant Technology Solutions
- Infosys
- Genpact Limited
- ProMab Biotechnologies, Inc
- Charles River Laboratories International, Inc
- Catalent, Inc.
- Covance, Inc.
- Fareva
- ICON, Plc
- DSM
- Health Decisions, Inc.
- IQVIA
- Laboratory Corporation of America Holdings
- Syneos Health, Inc.
- Parexel International Corporation
- PRA Health Sciences
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Service Type
- Market Snapshot, By End User
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Impact Analysis
- Market Trends
- Key Developments
- Regulatory Scenario
- Acquisitions and Partnerships Scenario
- Funding and Investments
- PEST Analysis
- Porter's Analysis
4. Global Life Sciences BPO Market- Impact of Coronavirus (COVID-19) Pandemic
- Overall Impact
- Government Initiatives
- COVID-19 Impact on the Market
5. Global Life Sciences BPO Market, By Service Type, 2019 - 2031, (USD Bn)
- Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Pharmaceutical outsourcing
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Contract manufacturing market
- API
- Finished dose form
- Packaging
- Contract research organizations
- Drug discovery
- Preclinical studies
- Clinical trial studies
- Regulatory services
- Pharmacovigilance
- Medical devices outsourcing
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Contract manufacturing market
- Electronic manufacturing services
- Finished goods
- Raw materials/components
- Contract research organizations
- Regulatory consulting services
- Product design and development services
- Product testing services
- Product implementation services
- Product upgrade services
- Product maintenance services
- Contract sales & market outsourcing
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Global Life Sciences BPO Market, By End User, 2019 - 2031, (USD Bn)
- Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Pharmaceutical Companies
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Biotechnology Companies
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Contract Research Organizations
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Medical Device Companies
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Academic Institutes & Government Organizations
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Global Life Sciences BPO Market, By Region, 2019 - 2031, (USD Bn)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019-2031
- Regional Trends
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019 - 2031, (USD Bn)
- North Africa
- Central Africa
- South Africa
8. Competitive Landscape
- Company Profiles
- Accenture, Plc
- Company Highlights
- Method Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Boehringer Ingelheim GmbH
- Cognizant Technology Solutions
- Infosys
- Genpact Limited
- ProMab Biotechnologies, Inc
- Charles River Laboratories International, Inc
- Catalent, Inc.
- Covance, Inc.
- Fareva
- ICON, Plc
- DSM
- Health Decisions, Inc.
- IQVIA
- Laboratory Corporation of America Holdings
- Syneos Health, Inc.
- Parexel International Corporation
- PRA Health Sciences
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. References and Research Methodology
- References
- Research Methodology
- About Us and Sales Contact