Global Life Sciences BPO market was valued at USD 152.5 billion in
2012 and is estimated to reach a market value worth USD 596.0 billion in 2019, growing at a CAGR of
21.5% from 2013 to 2019.
Browse Life Sciences BPO Market Report with Full TOC at http://www.transparencymarketresearch.com/life-sciences-bpo-market.html
Rising
cost, growing complexities of conducting clinical trials and increased pressure
from regulatory agencies to adopt various techniques to minimize the costs
involved for successful introduction of a drug in the market has compelled
pharmaceutical players to adopt new outsourcing models. All these factors have
helped fuel market growth of the Life Sciences BPO industry in the past decade.
In addition, rise in the number of patent expirations and failure of drugs
during the clinical trials process has triggered the overall growth of
pharmaceutical outsourcing industry. Moreover, outsourcing aids the biotechand
pharmaceutical industry to focus on their core strategies and utilize their
internal resources for more critical in-house projects.
The
Contract Manufacturing Organizations (CMOs) outsourcing services accounts for
the largest segment of the overall Life Sciences BPO market. Growing healthcare
costs has led to a rise in the demand for generic drugs and this has
consequently led to growth in demand for active pharmaceutical outsourcing
services. Moreover, CMOs conduct internal R&D to come up with novel
technologies to further support their clients. The API manufacturing market
accounts to be largest segment of the total CMO market. This growth has been
attributed to increase in outsourcing activities for pharmaceutical manufacturing
outsourcing, owing to increasing regulatory compliance such cGMP and other
approvals. Moreover, manufacturers do not have all the technologies and
expertise available in-house required for manufacturing different APIs and
hence, outsourcing serves as a more cost effective solution for pharmaceutical
companies. Also, the growing importance of biological drugs calls for
distinctive manufacturing technology.
The
Contract Research Organizations (CROs) outsourcing services market has also
witnessed significant growth in the past decade. This growth has been
attributed to the rising costs involved in conducting various phases of
clinical trials ranging from drug discovery up to post marketing approvals.
Pharmaceutical companies are now opting to outsource their clinical trial
activities to vendor scapable of providing bundled services such as regulatory
services, clinical data management, medical writing, site management, pharma covigilance,
risk based monitoring, biostatics, protocol development and others. The drug
discovery services segment accounted for the largest market share in 2012.Since
a large number of molecules fail during the drug discovery process, through
outsourcing the pharmaceutical companies are mitigating their financial risks
and avoiding sunken costs through partnership with CROs. However, clinical data
management outsourcing services market is expected to foresee the highest
growth rate of 17.3% from 2013 to 2019. This high growth has been attributed to
the growing adoption of advanced IT services such cloud applications and
enhanced software services provided by Information Technology Outsourcing
(ITO). Data security and Intellectual Property Rights (IPR)still persist to be
major hindrance for growth of this industry.
Geographically, North America accounted for the largest share of the
global pharmaceutical outsourcing services market in 2012 and was valued at USD 28.4 billion in
2012 followed by Asia-Pacific. The Asian-Pacific
region is expected to represent the highest growth rate of 21.2% during the
forecast period owing to availability of trained resources, low cost labor,
favorable regulatory policies and huge patient pool suffering from varies
chronic diseases. Moreover, the companies from this region are now meeting the
required manufacturing and quality standards of the USFDA and EMEA to further
boost market growth.
The major players in this market include Catalent Pharma
Solutions, Lonza Group, Parexel International, PRA International, Piramal
Healthcare, Charles River Laboratories, PPD (Pharmaceutical Product
Development), Cognizant, Accenture, IBM,
Quintiles, Covance and others.
Global
Life Sciences BPO Market, by Segments
o
Pharmaceutical Outsourcing Market
o
Contract Manufacturing Organizations (CMOs)
o
Active Pharmaceutical Ingredients (APIs) Manufacturing
o
Finished Dosage Formulation (FDF) Development and Manufacturing
o
Packaging
o
Contract Research Organizations (CROs)
o
Drug Discovery
o
Pre-Clinical Studies
o
Clinical Studies
o
Medical Writing
o
Clinical Data Management (CDM)
o
Bio-Statistics
o
Risk Based Monitoring
o
Site Management
o
Pharmacovigilance
o
Regulatory Services
o
Protocol Development
o
Others
o
Contract Sales Organizations (CSOs)
Global
Life Sciences BPO Market, by Geography
o
North America
o
Europe
o
Germany
o
France
o
U.K.
o
Italy
o
Spain
o
Switzerland
o
ROE
o
Asia-Pacific
o
Rest of the World
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