Life sciences BPO Market to reach a value of US$ 667.3 Bn by 2027 Booming at a CAGR of 14.7%, over the forecast period

The growing cost of drug development is augmenting the growth of the global life sciences BPO market. For instance, according to a study by the Tufts Center for the Study of Drug Development published in the Journal of Health Economics in May 2019, the cost of drug development was US$ 2.6 billion, which included average out-of-pocket costs of US$ 1.4 billion and time costs of US$ 1.2 billion. Also, patent expiration is another key factor propelling the growth of the life sciences BPO market. For instance, the patent for YAZ (drospirenone/ethinylestradiol), which provides an oral contraceptive regimen, is set to expire in 2021. Furthermore, the rising prevalence of chronic disease around the globe is further anticipated to accelerate the growth of the market.

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In May 2020, Catalent, Inc. announced a deal to acquire a clinical packaging facility in Minakuchi, Japan, from Teva-Takeda Pharmaceuticals in order to establish a new clinical GMP manufacturing and distribution hub to support clinical studies

In March 2020, Charles River Laboratories International, Inc. partnered with Deciphex, a preclinical digital pathology software-as-a-service provider, to enhance drug discovery & development with digital pathology.
North America is projected to lead the global life sciences BPO market due to increasing R&D in cell therapies by key players in the region.

For instance, in February 2020, Caribou Biosciences, Inc., a CRISPR genome editing company, signed a sale and assignment agreement with ProMab Biotechnologies, Inc., a biotechnology CRO/CDMO specializing in antibody engineering and CAR-T development, under which Caribou gains access to a ProMab humanized single-chain variable fragment (scFv) targeting the B-cell maturation antigen for use in allogeneic engineered cell therapies.

BPO refers to Business Process Outsourcing or simply Business Point of Sale. It is a growing area of outsourcing services that are providing excellent cost-effective solutions to global companies that are looking for better and faster ways to develop new products and services. Life sciences BPO outsourcing is one of the most important outsourcing options for companies involved in the pharmaceutical vertical.

A company involved in the pharmaceutical field needs to conduct several types of research in order to come up with a new product or better treatment for their existing product. For this they need a huge database of all the required information regarding their target market, their target customers profile, the type of consumers who might be interested in using their product, and many more. They need to conduct this research on their own and this is why outsourcing is very important for any company involved in the life sciences

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Table of Contents

-- Report Overview: It includes the Life Sciences BPO market study scope, players covered, key market segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.

-- Executive Summary: This section of the report gives information about Life Sciences BPO market trends and shares, market size analysis by region and analysis of global market size. Under market size analysis by region, analysis of market share and growth rate by region is provided.

-- Profiles of International Players: Here, key players of the Life Sciences BPO market are studied on the basis of gross margin, price, revenue, corporate sales, and production. This section gives a business overview of the players and shares their important company details.

-- Regional Study: All of the regions and countries analyzed in the Life Sciences BPO market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.

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Key Benefits:

• This study gives a detailed analysis of drivers and factors limiting the market expansion of Life Sciences BPO

• The micro-level analysis is conducted based on its product types, end-user applications, and geographies

• Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players

• By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Life Sciences BPO market

The research study can answer the following Key questions:

• What will be the progress rate of the Life Sciences BPO Market for the conjecture period, 2021-2028?

• What are the prominent factors driving the Life Sciences BPO Market across different regions?

• Who are the major vendors dominating the Life Sciences BPO industry and what are their winning strategies?

• What will be the market scope for the estimated period?

• What are the major trends shaping the expansion of the industry in the coming years?

• What are the challenges faced by the Life Sciences BPO Market?

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Our analysts are experts in this field with years of experience. We at Coherent Market Insights maintain the highest level of accuracy and transparency in the report. The primary and secondary resources used in the report are taken from reliable and high authority sources to deliver 100% accurate and trusted data.

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