Research and Markets has announced the addition of the "Life Sciences BPO Market Analysis by Services (Pharmaceutical Outsourcing, Medical Devices Outsourcing, Contract Sales, Marketing Outsourcing), and Segment Forecasts to 2024" report to their offering.
The life sciences BPO market is expected to reach USD 420 billion by 2024
The lucrative growth is attributed to the growing demand for contract manufacturing of raw materials, Finished Dosage Forms (FDFs), medical devices, drug discovery services, regulatory services, pre-clinical and clinical trial services, and pharmacovigilance services.
The pharmaceutical and biotech industry invests heavily in the R&D sector to continuously introduce new molecules, devices, and treatments. The different stages of the drug development such as drug discovery, pre-clinical studies, and clinical trials require huge financial, technological, and human resources.
In order to cater to the growing needs of the industry, the outsourcing vendors are expanding their product and service offerings and they are targeting niche areas for long-term growth and profitability; altogether these trends are expected to boost the life sciences outsourcing market over the forecast period.
Favorable government initiatives such as the introduction of ICD-10 standards, the increasing adoption of Electronic Health Record systems (EHR), and digital health platforms are enabling the rapid growth of the back-end payer and provider BPO services, such as claims management, claims processing, financial and pay roll management, and other administrative services.
The rising geriatric population coupled with the growing prevalence of various chronic diseases is increasing the burden on the healthcare system and also driving the need for new drugs, and devices, which in turn is expected to boost the contract manufacturing and contract research services over the next nine years.
Moreover, the contract sales and marketing services segments are also expected to witness an increase in demand due to the growing sales and marketing activities for the new product launches over the forecast period.
Key Topics Covered:
1 Executive Summary
2 Market Snapshot
3 Market Variables, Trends & Scope
4 Market Services Estimates & Trend Analysis
5 Market Regional Estimates & Trend Analysis, by Product & Application
6 Competitive Landscape
For more information about this report visit http://www.researchandmarkets.com/research/k52wmr/life_sciences_bpo
View source version on businesswire.com: http://www.businesswire.com/news/home/20161005006058/en/Business Wire
Last updated on: 05/10/2016
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