Life Sciences BPO Market to Grow with a CAGR of 8.89% through 2029
Specialized expertise, regulatory compliance, and
scalability to the life sciences sector is expected to drive the Global Life
Sciences BPO Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “Life
Sciences BPO Market – Global Industry Size, Share, Trends, Competition, Forecast & Opportunities, 2029F”, the Global Life Sciences BPO Market
stood at USD 403.66 billion in 2023 and is anticipated to grow with a CAGR of 8.89%
in the forecast period through 2029. This can be attributed to scaling market
demands. The life sciences industry faces periods of fluctuating demand,
especially during clinical trials or product launches. BPO partners offer
scalability, allowing organizations to quickly adapt to changing workloads.
This flexibility is particularly valuable in an industry characterized by
unpredictable timelines and shifting priorities.
The disruption of global supply chains
during the pandemic has emphasized the need for resilient and agile supply
chain solutions. BPO providers are assisting life sciences companies in
optimizing their supply chain management, ensuring the efficient and timely
delivery of essential medical products and devices. Pharmaceutical and medical device firms are
increasingly concentrating on their core competencies. They achieve this by
outsourcing functions like manufacturing, research, and marketing, which
streamlines their operations and leads to substantial time and cost savings.
This strategic approach is a pivotal driving force in the market, enabling
companies to optimize their resources and enhance operational efficiency.
During the COVID-19 pandemic, pharmaceutical and
medical device companies heavily relied on contract manufacturing organizations
(CMOs) and contract research organizations (CROs) for the development and
production of test kits and vaccines, significantly boosting the market. With
declining COVID-19 cases due to widespread vaccination efforts, contract
development and manufacturing organizations (CDMOs) are shifting their focus to
developing drugs for cancer and other chronic and infectious diseases, given their
high prevalence. For example, in January 2022, Lonza partnered with HaemaLogiX,
a monoclonal antibody developer, to manufacture the myeloma drug candidate
KappaMab, thereby driving demand for the development and manufacturing of such
drugs in the future.
In recent years, there has been a surge in mergers and
acquisitions between CROs and CDMOs to enhance their capabilities. For
instance, in December 2021, Thermo Fisher Scientific, Inc. completed the
acquisition of PPD, a clinical research services provider, expanding its
service offerings to include clinical research, analytical testing, and
laboratory services, among others. Similarly, in February 2021, Charles River
CRO acquired Cognate BioServices to strengthen its research capabilities in
cell and gene therapy. These strategic moves allow companies to broaden their
service offerings and provide comprehensive solutions, ultimately strengthening
their market presence and generating positive outcomes. The evolving regulatory landscape for
pharmaceutical and medical devices poses challenges for pharmaceutical and
medical device companies. However, these challenges are also creating growth
opportunities for the market. Even as COVID-19 cases decline, the demand for
COVID-19 vaccines remains significant, driven by concerns about the emergence
of new variants. This has led to increased demand for outsourcing COVID-19
vaccine manufacturing and development services.
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The Global Life Sciences BPO Market is segmented into services,
regional distribution, and company.
Based on services, The life sciences Business Process Outsourcing (BPO) market is primarily dominated by the pharmaceutical outsourcing sector, which holds the largest share of revenue. This dominance is driven by factors such as the increasing demand for cost-effective medications, the expiration of patents for various drugs, and a growing focus among major pharmaceutical companies on optimizing their supply chains to enhance profitability. The sector is expected to continue growing due to the need for pharmaceutical companies to reduce fixed costs, mounting regulatory pressures, and the increasing complexity of clinical trials.
On the other hand, the medical devices outsourcing segment is projected to experience the highest CAGR during the forecast period. This growth is attributed to the complexities of medical device manufacturing and the stringent global regulatory requirements for medical device approvals. The rising demand for medical devices, along with increased price competition and the need to reduce costs, is anticipated to drive market growth in the coming years.
Based on region, The Asia Pacific region has emerged as the leading market, capturing the largest share of revenue and is expected to exhibit the highest CAGR during the forecast period. This exceptional growth is driven by several factors, including untapped opportunities, continuous improvements in healthcare infrastructure, economic development, and a growing pool of skilled professionals. The region benefits from the presence of numerous Contract Development and Manufacturing Organizations (CDMOs) that provide cost-effective research and manufacturing services. Notably, India and China are key hubs in the life sciences outsourcing market, significantly contributing to the global export of active pharmaceutical ingredients (APIs) and finished products.
Major companies operating in Global Life Sciences
BPO Market are:
- Atos SE
- Boehringer Ingelheim International
GmbH
- Catalent Inc
- Labcorp Early Development Laboratories
Inc
- ICON PLC
- Infosys Ltd
- International Business Machines
Corporation (IBM)
- Lonza Group AG
- PAREXEL International Corp
- IQVIA Inc
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“The Global Life Sciences BPO Market is experiencing a
significant transformation, driven by advancements in technology, changing
patient-centric approaches, and a greater emphasis on data-driven
decision-making. These emerging trends are reshaping the way pharmaceutical,
biotechnology, and healthcare companies operate, helping them streamline
processes, enhance regulatory compliance, and improve patient outcomes. As the
industry continues to evolve, BPO providers will play an increasingly critical
role in supporting the dynamic needs of life sciences organizations and
contributing to innovation and growth. Staying ahead of these trends will be
essential for both BPO providers and the life sciences industry as a whole”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Life Sciences
BPO Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Services (Pharmaceutical outsourcing {Contract manufacturing
market, Contract research organizations}, Medical devices outsourcing {Contract
manufacturing market, Contract research organizations}, Contract sales &
market outsourcing, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Life Sciences BPO Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Life
Sciences BPO Market.
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