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Life Sciences BPO Market Research Report Information By Service Type (Contract Research, Drug Discovery, Pre-Clinical Trials, Clinical Trials, Medical Writing, Pharmacovigilance, Regulatory Services, Clinical Data Management, Clinical Monitoring), By Protocol (Development and Site Management) and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032

ID: MRFR/HC/8689-HCR | 138 Pages | Author: Rahul Gotadki| April 2024

Global Life Sciences BPO Market Overview

Life Sciences BPO Market Size was prized at USD 178.5 billion in 2021. The life sciences BPO market industry is projected to grow from USD 202.7 Billion in 2022 to USD 638.87 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.6% during the forecast period (2023 - 2032). The advancement of the pipeline and the requirement for rigorous clinical trials has been financed by the development of cellular treatment, biosimilar goods, and immunological biological products are the major market drivers enhancing the life sciences BPO market growth.Global Life Sciences BPO Market OverviewSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

Life Sciences BPO Market Trends

  • Increasing spending on healthcare to boost the market growth

Saving money is crucial when outsourcing because it allows businesses to spend less on personnel, space, and resource management. Structure changes, such as the drive toward paying for value, a greater emphasis on care management, and higher cost-sharing with customers, are gaining traction as healthcare continues to gobble up more and more of the entire economy. However, medical prices have stayed at the same level for the past five years—between 6% and 7%—which is predicted to increase healthcare spending. Thus, the rising healthcare expenses would significantly increase offshore outsourcing and have enhanced the life sciences BPO market CAGR globally in recent years.

Figure 1: Estimated healthcare spending of various countries in 2021Estimated healthcare spending of various countries in 2021Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

To remain competitive and adaptable, pharmaceutical firms are putting more and more emphasis on their R&D efforts. Evaluate Pharma estimated the expenditure on pharmaceutical R&D to be USD 182 billion in 2018 and USD 212 billion in 2021, an increase of 16.5%. The need for life sciences BPO services is anticipated to increase due to the rising R&D spending. The need for outsourcing drug research and manufacturing activities is predicted to increase, especially in rising economies like China, India, and South Korea, where outsourcing is more cost-effective than in Western economies. Therefore, increased spending by the pharmaceutical sector for research is another factor driving the growth of the life sciences BPO market revenue.

Life Sciences BPO Market Segment Insights

Life Sciences BPO Service Type Insights

The  life sciences BPO market segmentation, based on service type, includes contract research, drug discovery, pre-clinical trials, clinical trials, medical writing, pharmacovigilance, clinical data management, regulatory services, and clinical monitoring. The pharmacovigilance sector dominated the life sciences BPO market in 2021. Growing demand for therapeutic drugs for managing ailments, including oncological disease, diabetes, and others, boosts the sector's revenue ly. Another important element boosting market revenue growth is the rise in the frequency of adverse medication responses.

November 2021:Deloitte, a consulting, tax, and advisory services firm headquartered in London, UK, and Sanofi, a healthcare company headquartered in Paris, France, collaborated to develop ConvergeHEALTH Safety, a next-generation AI software-as-a-service platform, to revolutionize pharmacovigilance and address some of the most pressing operational safety issues currently facing the industry. This merger has further broadened the growth opportunity for the life sciences BPO industry.

The second fastest-growing segment in the life sciences BPO industry is the drug discovery sector. The increasing prevalence of a wide range of ailments (such as cardiovascular and CNS-related disorders), rising healthcare spending, and the impending patent expiration of blockbuster medications are the driving forces behind the expansion of the drug discovery business.

Life Sciences BPO Protocol Insights

The  life sciences BPO market data has been bifurcated by protocol into development and site management. In 2021, the development segment dominated the life sciences BPO market. Due to the increasing use of analytical solutions in clinical trial management systems and drug discovery and development, the development segment is predicted to grow at the quickest rate throughout the projected period.

Figure 2:  Life Sciences BPO Market, by Protocol, 2021 & 2030 (USD Billion)Life Sciences BPO Market, by Protocol, 2021 & 2030Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The second fastest-growing segment in the life sciences BPO industry is the site management segment. The rise in industry-academic partnerships, the rise in clinical trials, the development of healthcare technology, and the expansion of government funding for research trials are the key elements driving the growth of the site management sector. Hence, rising applications of life sciences BPO positively in site management impacts the market growth.

Life Sciences BPO Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Life Sciences BPO market accounted for USD 76.5 billion in 2021 and is expected to exhibit a significant CAGR of 42.9 percent growth during the study period. Factors driving the life sciences BPO market expansion in the region include the government's significant increase in healthcare spending and the growing significance of life sciences BPO in drug development. For instance, according to information released by the Canadian government in August 2022, the government took decisive action to ensure access to essential vaccines, therapeutics, and other life-saving medications by developing a comprehensive strategy to rebuild the country's domestic biomanufacturing and life sciences BPO sector.

Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  LIFE SCIENCES BPO MARKET SHARE BY REGION 2021 (%)LIFE SCIENCES BPO MARKET SHARE BY REGION 2021Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's life sciences BPO market accounts for the second-largest market share. The number of pharmaceutical firms is likely to increase year over year, as are R&D efforts and the demand for tailored medications. In 2021, Germany was the largest pharmaceutical market in Europe, with total sales exceeding 49.4 billion euros. Innovative analytics are in high demand across various applications, which is anticipated to accelerate market growth. Further, the German life sciences BPO market held the largest market share, and the UK life sciences BPO market was the fastest-growing market in the European region.

The Asia-Pacific Life Sciences BPO Market is expected to grow at the fastest CAGR from 2022 to 2030. Factors anticipated to propel the market throughout the forecast period are the existence of a strong scientific community, the largest number of U.S. FDA-permitted production sites (outside of the U.S.), and supportive government initiatives, such as "Make in India." Moreover, China's life sciences BPO market held the largest market share, and the Indian life sciences BPO market was the fastest-growing market in the Asia-Pacific region.

Life Sciences BPO Key Market Players & Competitive Insights

The market will grow due to major market players spending a lot of money on R&D to increase the variety of items they offer. Market participants are taking part in several strategic initiatives to broaden their reach internationally, in addition to significant market developments like introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the life sciences BPO industry must offer products at fair prices if they want to expand and survive in this market.

One of the primary business strategies manufacturers use in the  life sciences BPO industry to assist clients and expand the market sector is local production to reduce operational costs. The life sciences BPO industry has contributed to some of the most important medical advancements. The life sciences BPO market major player such as Infosys (India), ProMab Biotechnologies Inc. (US), Lonza Group (Switzerland), Health Decisions Inc. (US), and others are supporting R&D projects to boost market demand.

Catalent Pharma Solutions, Inc. is a company that creates and manufactures drug delivery systems. The company provides medication, biologic, and consumer health product manufacturing, packaging, storage, and inventory management services. Catalent Pharma Solutions has customers all around the world. Every year, Catalent accelerates over 1,000 partner programs and introduces over 150 new products.  In February 2020, Catalent, Inc. and MaSTherCell , Inc., a technology-focused cell and gene therapy contract development and manufacturing organization to leading cell therapy innovators, announced that Catalent has agreed to acquire MaSTherCell  for $315 million in cash, subject to customary adjustments, from Great Point Partners, SFPI-FPIM, and Orgenesis Inc.

Also, IQVIA is a  leader in using data, technology, sophisticated analytics, and knowledge to help customers advance healthcare. We are enabling a more contemporary and effective healthcare system and developing breakthrough solutions that alter business and patient results in collaboration with the organizations we serve.  In May 2020, IQVIA introduced HCP/HCO Engagement Management, an end-to-end, orchestrated healthcare professional/organization (HCP/HCO) solution that provides worldwide HCP/HCO planning, management, contracting, and payment. HCP/O Engagement Management, built on the Salesforce platform, provides a comprehensive solution for all touchpoints. It uses an innovative  rules engine to assist important users and business processes, optimizing engagement management and reducing risk.

Key Companies in the life sciences BPO market include

  • Lonza Group (Switzerland)

  • Paraxel International Corporation (US)

  • Quintiles Transactional Corporation (US)

  • ProMab Biotechnologies Inc. (US)

  • Cognizant Technology Solutions (US)

  • Anthelio Healthcare Solutions (India)

  • Health Decisions Inc. (US)

  • Infosys (India)

  • Catalent Inc. (US)

  • Genpact Limited (US)

Life Sciences BPO Industry Developments

March 2022:Databricks has released the Databricks Lakehouse for Healthcare and Life Sciences. It is a unified platform for data management, analytics, and sophisticated artificial intelligence use cases such as disease prediction, medical image classification, and biomarker discovery. Healthcare businesses can deliver on the promise of precision medicine by using a single platform for data administration, analytics, and advanced AI use cases such as disease prediction, medical picture classification, and biomarker identification.

October 2021:Boehringer Ingelheim invested roughly USD 776.49 million in constructing its new biopharmaceutical manufacturing facility in Austria. The corporation claims its largest investment is the new large-scale cell culture (LSCC) facility. It extensively uses smart technology and artificial intelligence applications to achieve a high level of digitalization and automation. The facility will manufacture biopharmaceuticals for the company's product portfolio and third-party contract production.

Life Sciences BPO Market Segmentation

Life Sciences BPO Service Type Outlook

  • Contract Research

  • Drug Discovery

  • Pre-Clinical Trials

  • Clinical Trials

  • Medical Writing

  • Pharmacovigilance

  • Clinical Data Management

  • Regulatory Services

  • Clinical Monitoring

Life Sciences BPO Protocol Outlook

  • Development

  • Site Management

Life Sciences BPO Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

  • Latin America

Report Attribute/Metric Details
Market Size 2021 USD 178.5 billion
Market Size 2022 USD 202.7 billion
Market Size 2030 USD 638.87 billion
Compound Annual Growth Rate (CAGR) 13.6% (2023-2032)
Base Year 2021
Market Forecast Period 2023-2032
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Service Type and Protocol
Geographies Covered Europe, North America, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Infosys (India), ProMab Biotechnologies Inc. (US), Lonza Group (Switzerland), and Health Decisions Inc. (US)
Key Market Opportunities Growing adoption of artificial intelligence-based tools for drug discovery
Key Market Dynamics Growing demand for outsourcing owing to the cost benefits associated with outsourcing Growth in the  R&D spending on pharmaceutical and medical devices.

Frequently Asked Questions (FAQ) :

The  life sciences BPO market size was prized at USD 178.5 Billion in 2021.

The  market is estimated to grow at a CAGR of 13.6% during the forecast period 2023-2032.

The largest share of the  market was held by North America.

The key players in the market are Infosys (India), ProMab Biotechnologies Inc. (US), Lonza Group (Switzerland), and Health Decisions Inc. (US).

The pharmacovigilance life sciences BPO category dominated the market in 2021.

The development protocol had the largest share of the market.

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