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Life Sciences BPO market comprises of contracting of non-primary business activities and functions to a third-party provider. The global life sciences BPO market is driven by factors such as increasing cost of research and development (R&D), growing price pressures, and increase in investments by pharmaceutical and medical devices companies in emerging economies such as India, China, Brazil, and South Africa. Furthermore, increasing prevalence of Covid-19 and subsequent R&D activities is also expected to propel growth of the global life sciences BPO market over the forecast period.
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Business process outsourcing (BPO) is the contracting of non-primary business activities and functions to a third-party provider. Life sciences offers various services in research, discovery, development, drug registration, and product launch.
The global life sciences BPO market is estimated to account for US$ 667.3Bn in terms of value by the end of 2027.
Increasing cost of drug development is expected to propel growth of the global life sciences BPO market over the forecast period. For instance, the cost of drug development was US$ 2.6 billion, which included average out-of-pocket costs of US$ 1.4 billion and time costs of US$ 1.2 billion, according to a study by the Tufts Center for the Study of Drug Development published in the Journal of Health Economics in May 2019.
Moreover, patent expiration is also expected to aid in growth of the market. For instance, patent for YAZ (drospirenone/ethinylestradiol), which provides an oral contraceptive regimen, is set to expire in 2021.
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Table of Contents
1. Research Objectives and Assumptions
◦ Research Objectives
◦ Assumptions
◦ Abbreviations
2. Market Purview
◦ Report Description
▪ Market Definition and Scope
◦ Executive Summary
▪ Market Snippet, By Service Type
▪ Market Snippet, By Country
▪ Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
◦ Market Dynamics
▪ Drivers
▪ Restraints
▪ Market Opportunities
◦ Impact Analysis
◦ Key Highlights
◦ PEST Analysis
◦ Technological Advancements
◦ Regulatory Scenario
◦ Mergers and Acquisitions
Top players in the market
Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in May 2020, Catalent, Inc. announced a deal to acquire a clinical packaging facility in Minakuchi, Japan, from Teva-Takeda Pharmaceuticals in order to establish a new clinical GMP manufacturing and distribution hub to support clinical studies.
Research methodology adopted by Coherent Market Insights
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
• Primary Research (Trade Surveys and Experts Interviews)
• Desk Research
• Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
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