Welcome!

Websphere Authors: Elizabeth White, Pat Romanski, Liz McMillan, Yeshim Deniz, XebiaLabs Blog

News Feed Item

Life Sciences BPO Market is Expected to Reach USD 596.0 Billion Globally in 2019: Transparency Market Research

ALBANY, New York, February 3, 2014 /PRNewswire/ --

According to a new market report published by Transparency Market Research "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.

Browse Life Sciences BPO Market Report with Full TOC at http://www.transparencymarketresearch.com/life-sciences-bpo-market.html

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 to outsource 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.

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.

Related & Recently Published Reports by Transparency Market Research

The global life sciences BPO market is segmented as follows:

Global Life Sciences BPO Market, by Segments

  • Pharmaceutical Outsourcing Market
  • Contract Manufacturing Organizations (CMOs)
  • Active Pharmaceutical Ingredients (APIs) Manufacturing
  • Finished Dosage Formulation (FDF) Development and Manufacturing
  • Packaging
  • Contract Research Organizations (CROs)
  • Drug Discovery
  • Pre-Clinical Studies
  • Clinical Studies
  • Medical Writing
  • Clinical Data Management (CDM)
  • Bio-Statistics
  • Risk Based Monitoring
  • Site Management
  • Pharmacovigilance
  • Regulatory Services
  • Protocol Development
  • Others
  • Contract Sales Organizations (CSOs)

Global Life Sciences BPO Market, by Geography

  • North America
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Switzerland
  • ROE
  • Asia-Pacific
  • Rest of the World (RoW)

Browse all Pharmaceutical Market Research Reports @ http://www.transparencymarketresearch.com/pharmaceutical-market-reports-1.html

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact
Sheela AK
90 Sate Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Web: http://www.transparencymarketresearch.com/
Blog: http://www.tmrblog.com/
Blog: http://transparencymarketresearch.areavoices.com/

SOURCE http://www.transparencymarketresearch.com/

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that prevent them from doing so. The Company is uniquely positioned to help address these challenges thro...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
SYS-CON Media announced that Cisco, a worldwide leader in IT that helps companies seize the opportunities of tomorrow, has launched a new ad campaign in Cloud Computing Journal. The ad campaign, a webcast titled 'Is Your Data Center Ready for the Application Economy?', focuses on the latest data center networking technologies, including SDN or ACI, and how customers are using SDN and ACI in their organizations to achieve business agility. The Cisco webcast is available on-demand.
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness, and in-car entertainment and this excitement will bleed into other areas. On the commercial side, m...
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science from the University of California, Berkeley.
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. He discussed opportunities and challenges ahead for the IoT from a market and technical point of vie...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP and chief architect at BSQUARE Corporation; Seth Proctor, CTO of NuoDB, Inc.; and Andris Gailitis, C...
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Advanced Persistent Threats (APTs) are increasing at an unprecedented rate. The threat landscape of today is drastically different than just a few years ago. Attacks are much more organized and sophisticated. They are harder to detect and even harder to anticipate. In the foreseeable future it's going to get a whole lot harder. Everything you know today will change. Keeping up with this changing landscape is already a daunting task. Your organization needs to use the latest tools, methods and expertise to guard against those threats. But will that be enough? In the foreseeable future attacks w...
As enterprises move to all-IP networks and cloud-based applications, communications service providers (CSPs) – facing increased competition from over-the-top providers delivering content via the Internet and independently of CSPs – must be able to offer seamless cloud-based communication and collaboration solutions that can scale for small, midsize, and large enterprises, as well as public sector organizations, in order to keep and grow market share. The latest version of Oracle Communications Unified Communications Suite gives CSPs the capability to do just that. In addition, its integration ...
“The age of the Internet of Things is upon us,” stated Thomas Svensson, senior vice-president and general manager EMEA, ThingWorx, “and working with forward-thinking companies, such as Elisa, enables us to deploy our leading technology so that customers can profit from complete, end-to-end solutions.” ThingWorx, a PTC® (Nasdaq: PTC) business and Internet of Things (IoT) platform provider, announced on Monday that Elisa, Finnish provider of mobile and fixed broadband subscriptions, will deploy ThingWorx® platform technology to enable a new Elisa IoT service in Finland and Estonia.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...