Global Life Sciences Bpo Market to Be Worth Usd 596 Billion by 2019: Transparency Market Research

Transparency Market Research, a U.S.-based market intelligence company, recently published a report about the global life sciences BPO market to its report offering. According to the data presented in the report, the global life sciences BPO market is expected to be valued at US$596.0 billion by 2019, growing at a stunning CAGR of 21.5% from its value of US$152.5 billion in 2012. The report, titled “Life Sciences BPO Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, is available for sale on the company website.The TMR study report observes that increased pressure from regulatory agencies, stringent rules for clinical trials, rising costs of R&D activities, and technological advancement has forced many pharmaceutical, biotechnology, and life science companies to outsource production and R&D activities. The key players in the life sciences find outsourcing to be a viable alternative that saves cost and time without affecting the competitive advantage in the market.

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This growth in outsourcing is driving the life sciences BPO market globally. Currently, new strategies for outsourcing are developed for almost every stage of the manufacturing and research process, which is boosting the life sciences BPO market. For example, in the research area for drug discovery a cross-functional, completely integrated outsourcing model is employed. Other areas of research driving the life sciences BPO market are gene-silencing, proteomics, and genomics for the identification of targets and validation of targets for complex diseases.Globally, the life sciences BPO market comprises contract research organizations (CROs), contract manufacturing organizations (CMOs), and others that include contract sales organizations (CSO). As per the TMR report, CMOs held the largest share of the life...