The Rising Collaborations and Partnerships to Boost Life Sciences BPO Market Growth


Life Sciences BPO Market By Service (Medical Devices Outsourcing, Pharmaceutical Outsourcing), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Size, Share, Outlook, and Opportunity Analysis, 2023-2030.

The global Life Sciences BPO Market was valued at US$ 222.9 Bn in 2019 and is forecast to reach a value of US$ 667.3 Bn by 2027 at a CAGR of 14.7% between 2020 and 2027.

Market Overview:

Life sciences BPO (business process outsourcing) consists of contracting of non-primary business functions and activities to a third-party provider. Demand for life sciences outsourcing has increased in the recent past, due to increasing cost of research and development (R&D) and increasing investments by pharma and medical devices companies in emerging economies. Life sciences offers various services in discovery, research, drug registration, development, and product launch.

Competitive Landscape:

Key players involved in the growth of global life science BPO market are Boehringer Ingelheim GmbH, Accenture plc., PAREXEL International Corp., Atos SE, Infosys Ltd., Covance, Inc. (Labcorp), International Business Machines Corp., Lonza Group, ICON plc, IQVIA and Genpact Ltd.

Market Key Drivers:

The rising collaborations and partnerships is expected to augment the growth of the global Life Sciences BPO Market . For instance, in January 2022, Lonza entered into a collaboration with HaemaLogiX, to produce myeloma drug candidate KappaMab.

Increasing mergers and acquisitions is projected to propel the growth of global life science BPO market. For instance, in December 2021, Thermo Fisher Scientific, Inc. acquired PPD, to enhance its service assortment to inculcate clinical survey, analytical testing, and lab services, amidst others.

Covid-19 Impact Analysis:

The Covid-19 outbreak has significantly affected the growth of global life science BPO market owing to the decline in pandemic cases due to the rising vaccination campaign. The rising focus of CDMOs on developing cancer drugs and drugs for infections.

Key Takeaways:

The global Life Sciences BPO Market is anticipated to exhibit a CAGR of 9.1 % during the forecast period due to rising R&D investment for product expansion. For instance, the rising R&D investment by the pharmaceutical organizations was around US$ 212 billion in 2021.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Life Sciences BPO Market due to rising R&D, increasing collaboration and partnerships, rising investment in pharmaceuticals, increase in geriatric population. For instance, in October 2021, Boehringer Ingelheim launched its new biopharmaceutical manufacture facility in Austria with an investment of around US$ 776.49 million in 2021.

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