Transparency Market Research
is Published new Market Report " 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.
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. 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 tooutsource
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.
Browse Life Sciences BPO Market Report with
Full TOC at http://www.transparencymarketresearch.com/life-sciences-bpo-market.html
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.
Economic burden, increased
financial crisis and technological advances has compelled all pharmaceutical,
biotechnology and life science companies to outsource their R&D activities
and manufacturing processes in order to achieve their cost benefits and save
time.In recent years, large number of life science companies has modified their
traditional drug manufacturing operationswith more focus now on their core
R&D activities and manufacturing processes via outsourcing. At present, new
outsourcing strategies and types of services are developing in almost every
stage of research and manufacturing process. For instance, a virtually
integrated, cross-functional outsourcing of drug discovery research is
currently being considered as a latest outsourcing model, especially for small
molecule drug discovery. In addition, genomics &proteomics research and
gene–silencing technology are now being widely used for target identification
and validation of complex disease targets.
Global Life Sciences BPO
market includes Contract Manufacturing Organizations (CMOs), Contract Research
Organizations (CROs) and others that compriseContract Sales Organization (CSO).
The contract manufacturing organizations market is expected to see the highest
growth rate during the forecast period and also accounted for the largest
market share in the year 2012. This market holds immense growth owing to the
rise in demand for generic drugs, increase in R&D investment by life
sciences companies. In addition, a rise in the number ofblock buster drugs
going off-patent and increased adoption of novel technologies are further
boosting the growth of this market. The CMO market comprises contract API
(Active Pharmaceutical Ingredients) manufacturing, contract FDF (Finished Dosage
Formulations) manufacturing and packaging.Among these, contract FDF
manufacturing segment is expected to have a healthy growth rate during the
forecast period. The CRO market is also expected to display a healthy growth
rate after CMO market. The CRO market comprises of various segments such as
drug discovery, pre-clinical studies, clinical trial phases, medical writing,
clinical data management, pharmacovigilance, regulatory services, site
management, protocol development, monitoring and bio-statistics.
Among these,
clinical data management segment is expected to have a strong growth rate in
coming years. This growth has been attributed to its high data complexities,
high cost involvement and requirement of skilled & trained professionals.
Geographically, the North
American region constituted the largest market for global life sciences
BPO market in 2012; however, Asia-Pacific is predicted to foresee the highest
growth rate of over 21.2% from 2013 to 2019. This growth has been attributed to
favorable government regulations, improved intellectual property protection
rights and increased adoption of novel technologies. In addition, tax benefits,
low labor costs andother overheads and availability of skilled professionals at
a very low cost compared to developed nations would trigger the growth of this
market in Asia-Pacific region.
The major players of this
market are CatalentPharma Solutions, PRA International, Covance, Quintiles,
Parexel, DSM, Charles River Laboratories, Piramal Healthcare and BoehringerIngelheim.
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