Life Sciences BPO Market Is Expected To Grow At 9.3% CAGR For Services Segment Including Healthcare Payer Till 2024: Grand View Research, Inc.

The life sciences BPO market is expected to reach USD 420 billion by 2024, according to a new report by Grand View Research, Inc. 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.  

Browse full research report on Global Life Sciences BPO Market: http://www.grandviewresearch.com/industry-analysis/life-science-bpo-market

Further key findings from the study suggest:

Read detailed report or request for sample of this research report:                 
http://www.grandviewresearch.com/industry-analysis/life-science-bpo-market/request

Grand View Research has segmented the life sciences BPO market by service and region:

Life Sciences BPO Services Outlook (Market revenue in USD Billion, 2013 – 2024)

Life Sciences BPO Regional Outlook, (Market Revenue in USD Billion, 2013 – 2024)

Browse more reports of this category by Grand View  Research: http://www.grandviewresearch.com/industry/healthcare

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc

Web: www.grandviewresearch.com

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