LONDON
The rising cost of R&D has led to unprecedented growth in the Global Life Sciences BPO Market, which is expected to post a CAGR of 18.11 percent from 2014-2018, says research firm TechNavio.
The R&D costs associated with drug discovery and government approval of newly discovered drugs are high, and outsourcing enables companies to save on costs involved in the discovery process.
About the Report
The new report from TechNavio indicates that companies often spend a lot of time and money measuring the market performance of a drug or medical device, which is creating big demand for analytics solutions from the life sciences sector.
“Companies spend crucial resources on delivering the best possible solutions, but the success of these solutions must be measured. Analytics service providers help collect information regarding the success of a product, and use it to identify key trends in order to help organizations increase sales,” says Faisal Ghaus, Vice President of TechNavio.
The report also focuses on the shift of drug development from high cost to low cost regions. Countries like India and China have emerged as the preferred destinations for R&D Services. Favorable actions by the government in India, such as the formulation of a design policy to promote Indian brands worldwide are expected to further drive market growth.
Key Information Covered in the Report:
- Market segmentation, size and forecast through 2018
- Market Growth Drivers:
- Rising Cost of R&D
- For a full detailed list, view our report.
- Market Challenges:
- Issues Pertaining to IP Ownership
- For a full detailed list, view our report.
- Market Trends:
- Emerging Demand for Analytics Solutions in Life Sciences
- For a full detailed list, view our report.
- Key Vendors:
- Catalent Inc.
- Covance Inc.
- PRA Health Sciences
- Other Prominent Vendors:
- Ashfield Healthcare
- DSM
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TechNavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the life sciences market:
If you are interested in more information, please contact our media team at media@technavio.com.
CONTACT
TechNavio Research
Jes Ellacott, Media & Marketing Executive
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+1-630-333-9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com