Life Sciences BPO Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

Life Sciences BPO Market was valued at USD 234.4 billion in 2020 and is projected to reach USD 416.1 billion by 2028, growing at a CAGR of 7% from 2022 to 2028.

Life Sciences Business Process Outsourcing (BPO) meets key factors such as the growing need for pharmaceutical and biotechnology companies to accelerate drug time to market, reduce research and development (R&D) costs, increase productivity, and achieve regulatory compliance. Pharmaceutical companies prefer to outsource their business processes to preserve product prices and the viability of the company. The trend of strengthening subcontracting in the pharmaceutical and medical device business is expected to play a pivotal role in the development of the life science BPO market. In addition, impacts such as stringent regulatory procedures, financial instability, and drug patent expiry force these companies to explore a variety of outsourcing options.

Market Segments

By Service Type

• Contract Research Organizations
• Contract Sales and Marketing Organizations
• Contract Manufacturing Organizations
• Others

By Application

• Clinical Trials
• Patient-Centric
• R&D Activities
• Digital Era

Key Players

• IQVIA
• Laboratory Corporation of America Holdings
• Syneos Health, Inc.
• Parexel International Corporation
• PRA Health Sciences, Inc.
• Charles River Laboratories International, Inc.
• WuXi AppTec Co., Ltd.
• ICON plc
• Medpace Holdings, Inc.
• Pharmaceutical Product Development, LLC.

Scope of the Report

The research study analyzes the global Life Sciences BPO industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Life Sciences BPO Market Report

1. What was the Life Sciences BPO Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2022-2028).

2. What will be the CAGR of Life Sciences BPO Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Life Sciences BPO Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.