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Life Sciences BPO Market is Expected to Reach USD 596.0 Billion Globally in 2019: Transparency Market Research

February 3, 2014

ALBANY, New York, February 3, 2014 /PRNewswire/ –

According to a new market report published by Transparency Market Research “Life
Sciences BPO Market [Contract Research Organizations (Drug Discovery, Pre-Clinical,
Clinical Trials, Medical Writing, Pharmacovigilance, Risk-Based Monitoring, Clinical Data
Management, Biostatistics) and Contract Manufacturing Organizations]- Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” the 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
[http://www.transparencymarketresearch.com/life-sciences-bpo-market.html ]. 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 vendorscapable of providing bundled services
such as regulatory services, clinical data management, medical writing, site management,
pharmacovigilance, 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.

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The global life sciences BPO market is segmented as follows:

Global Life Sciences BPO Market, by Segments

        - Pharmaceutical Outsourcing Market
        - Contract Manufacturing Organizations (CMOs)
        - Active Pharmaceutical Ingredients (APIs) Manufacturing
        - Finished Dosage Formulation (FDF) Development and Manufacturing
        - Packaging
        - Contract Research Organizations (CROs)
        - Drug Discovery
        - Pre-Clinical Studies
        - Clinical Studies
        - Medical Writing
        - Clinical Data Management (CDM)
        - Bio-Statistics
        - Risk Based Monitoring
        - Site Management
        - Pharmacovigilance
        - Regulatory Services
        - Protocol Development
        - Others
        - Contract Sales Organizations (CSOs)

Global Life Sciences BPO Market, by Geography

        - North America
        - Europe
        - Germany
        - France
        - U.K.
        - Italy
        - Spain
        - Switzerland
        - ROE
        - Asia-Pacific
        - Rest of the World (RoW)

Browse all Pharmaceutical Market Research Reports @

http://www.transparencymarketresearch.com/pharmaceutical-market-reports-1.html

About Us

Transparency Market Research is a global market intelligence company, providing global
business information reports and services. Our exclusive blend of quantitative forecasting
and trends analysis provides forward-looking insight for thousands of decision makers. We
are privileged with highly experienced team of Analysts, Researchers, and Consultants, who
use proprietary data sources and various tools and techniques to gather, and analyze
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Our data repository is continuously updated and revised by a team of research experts,
so that it always reflects the latest trends and information. With a broad research and
analysis capability, Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research material for business
reports.

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