PUBLISHER: The Business Research Company | PRODUCT CODE: 1693174
PUBLISHER: The Business Research Company | PRODUCT CODE: 1693174
Life sciences BPO (Business Process Outsourcing) involves outsourcing various business processes of life sciences companies to third-party experts. These specialized services support life sciences firms in areas such as data management, regulatory compliance, and customer support within the life sciences sector.
The primary types of services included in life sciences BPO are pharmaceutical outsourcing, medical device outsourcing, contract sales and marketing outsourcing, and others. Pharmaceutical outsourcing involves the delegation of specific tasks or functions related to drug development, manufacturing, and distribution processes to external service providers. These services find application in various areas, including clinical testing methods, environmental testing methods, and others. End-users of these services include hospitals and clinics, diagnostic laboratories, and others.
The life sciences BPO market research report is one of a series of new reports from The Business Research Company that provides life sciences BPO market statistics, including life sciences BPO industry global market size, regional shares, competitors with a life sciences BPO market share, detailed life sciences BPO market segments, market trends and opportunities, and any further data you may need to thrive in the life sciences BPO industry. This life sciences BPO market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The life sciences bpo market size has grown rapidly in recent years. It will grow from $266.44 billion in 2024 to $295.37 billion in 2025 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to focus on patient-centric healthcare solutions, increasing data management challenges, market competition and time-to-market pressure, globalization and expansion, complexity in clinical trials.
The life sciences bpo market size is expected to see strong growth in the next few years. It will grow to $431.96 billion in 2029 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to increasing demand for drug development support, focus on real-world evidence and data analytics, globalization and expansion strategies, increased emphasis on precision medicine, rise in outsourcing clinical trial management. Major trends in the forecast period include ai and advanced analytics integration, virtual trials and remote monitoring, focus on regulatory compliance solutions, precision medicine and personalized healthcare, blockchain and data security solutions.
The increasing healthcare expenditure is expected to drive the growth of the life sciences BPO market in the future. Healthcare expenditure refers to the total spending on healthcare-related goods and services, covering a wide range of categories such as medical treatments, medications, hospital stays, doctor visits, medical devices, health insurance, and other healthcare-related expenses. Life sciences BPO solutions support healthcare companies in delivering essential drugs, devices, and services to patients. The growing healthcare investments further enhance their ability to optimize costs, speed up development, accelerate the introduction of new treatments to the market, and lower research and development costs. For instance, in December 2023, the Centers for Medicare & Medicaid Services, a US-based federal agency, reported that U.S. healthcare spending increased by 4.1% in 2022, reaching $4.5 trillion, a faster growth rate than the 3.2% increase in 2021. Therefore, the rise in healthcare expenditure is fueling the growth of the life sciences BPO market.
Clinical trials support is expected to play a crucial role in propelling the growth of the life sciences BPO market going forward. Clinical trials support involves the services and activities that facilitate and manage clinical trials, which are research studies with human participants aimed at assessing the safety and effectiveness of new medical treatments, drugs, therapies, medical devices, or interventions. Professionals in clinical trials support help maintain the quality and integrity of clinical trial data, ensuring compliance with regulatory standards. This focus on data quality is vital for BPO providers managing clinical trial data, often a core service for life sciences companies. For example, in May 2023, Xtalks, a Canada-based digital health company, reported that there were 452,604 clinical trials registered globally as of May 17, 2023. Of these, 64,838 were actively recruiting participants. This represents a significant increase compared to more than 365,000 registered trials reported in early 2021. Therefore, clinical trials support is driving the growth of the life sciences BPO market.
Major companies in the life sciences BPO market are adopting a strategic partnership approach to develop innovative solutions. These partnerships allow life sciences BPO firms to combine resources and expertise, boosting research and development capabilities, expanding market reach, and accelerating commercialization, ultimately fostering innovation and growth in the industry. For example, in March 2024, Cognizant Technology Solutions Corp, a US-based company, formed a partnership with NVIDIA, a US-based software company. Through this collaboration, the two companies aim to accelerate drug discovery by leveraging NVIDIA's BioNeMo generative AI platform, which enables faster and more efficient analysis of complex datasets. The goal of this partnership is to enhance research capabilities and speed up the development of life-saving treatments.
In September 2022, Infosys Limited, an India-based IT company, acquired BASE life science for an undisclosed amount. This acquisition aims to enhance Infosys' expertise in the life sciences sector by incorporating BASE life science's consulting and technology capabilities. The goal is to drive innovation in clinical trials and drug development, ultimately improving health outcomes through advanced data and cloud solutions. BASE life science, a Denmark-based information technology consulting firm, specializes in providing technology solutions and consulting services to the life sciences industry, with a focus on areas such as data science, digital marketing, clinical trials, and regulatory compliance.
Major companies operating in the life sciences bpo market report are Accenture PLC, Atos SE, Catalent Inc., Covance Inc., Genpact Ltd., ICON PLC, Infosys Ltd., Lonza Group, PAREXEL International Corp., IQVIA Holdings Inc., International Business Machines Corp., ProMab Biotechnologies Inc., Cognizant Technology Solutions, Syneos Health Inc., R1 RCM Inc., Charles River Laboratories International Inc., Sartorius AG, WuXi AppTec Co. Ltd., Medpace Holdings Inc., Pharmaceutical Product Development LLC, Medidata Solutions, Health Decisions Inc., FAREVA Unterach GmbH, Bioclinica Inc., Navitas Life Sciences Private Limited, SGS SA, PRA Health Sciences Inc., Clinipace Worldwide, ClinTec International Ltd., Cromsource Ltd.
Asia-Pacific was the largest region in the life sciences BPO market in 2024. The regions covered in the life sciences bpo market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the life sciences bpo market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The life sciences BPO market includes revenues earned by entities by providing research and analytics, digital transformation, finance and accounting, and procurement. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Life Sciences BPO Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on life sciences bpo market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for life sciences bpo ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The life sciences bpo market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.