Formulation Development Outsourcing Global Market Report 2023 – By Service (Preformulation, Formulation Development), By Therapeutic Area (Oncology, Infectious Disease, Neurology, Hematology, Respiratory, Cardiovascular, Dermatology, Other Therapeutics), By Formulation (Oral, Injectable, Topical, Other Formulations), By End-User (Pharmaceutical Industries, Research And Academic Development) – Market Size, Trends, And Global Forecast 2023-2032

Engineering research and development (ER&D) outsourcing refers to the process of contracting out the research project to a development company that specializes in cutting-edge technology and employs knowledgeable engineers, skilled at creating profitable outsourcing partnerships. These are used as a widespread practice in which a corporation engages a different contractor to carry out tasks and manage activities. The main types of engineering research and development (ER&D) outsourcing market are mechanic, embedded IT, and software. Mechanic are used for PLM implementation and customization services. The mechanic refers to the process of outsourcing that transfers ownership of the product to the individuals in charge of the CAD drawings that are used to convey measurements, tolerances, and crucial specifications for designs. The various types of locations include onsite, offshore. The several end users include automotive, consumer electronics, telecom, heavy machinery, semiconductor, computing system, aerospace, energy, medical devices, others. The global engineering research and development (ER&D) outsourcing market is segmented - 1) By Type: Mechanic, Embedded IT, Software 2) By Location: Onsite, Offshore 3) By End User: Automotive, Consumer Electronics, Telecom, Heavy Machinery, Semiconductor, Computing System, Aerospace, Energy, Medical Devices, Other End Users The global engineering research and development (ER&D) outsourcing market size is expected to grow from $347.68 billion in 2022 to $434.72 billion in 2023 at a compound annual growth rate (CAGR) of 25.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The engineering research and development (ER&D) outsourcing market size is expected to grow to $1,037.5 billion in 2027 at a CAGR of 24.3%. Rising outsourcing demand is expected to propel the growth of the engineering research and development (ER&D) outsourcing market going forward. Outsourcing refers to the process of contracting out the research project to a development company that specializes in cutting-edge technology and employs knowledgeable engineers, skilled at creating profitable outsourcing partnerships. Outsourcing engineering services allow businesses to reduce work cost and also reduce the costs associated with extra office space, labour, infrastructure, and operations. For instance, according to NASSCOM, an India-based National Association of Software and Service Companies, it is estimated that the global spending on engineering R&D (ER&D) to cross the $1.5 trillion mark by 2025-2026, of which $200 billion will be in the form of outsourced services. Therefore, the increase in rising outsourcing demand is driving the growth of the engineering research and development (ER&D) outsourcing market. Major players in the engineering research and development (ER&D) outsourcing market are Altran Technologies, Alten Group, Akka Technologies, Wipro Ltd., Tata Consultancy Services, HCL Technologies, Capgemini SE, Kistler Group, Harman International Industries, Tata Technologies Limited, Horiba Ltd., KPIT Technologies Limited, FEV Europe GmbH, IAV Gmbh, Infosys Limited, and Assystem. The lack of skilled personnel is expected to propel the growth of the engineering research and development outsourcing market going forward. Skilled personnel refer to any worker who has special skills, training, and knowledge that they can then apply to their work. A skilled worker is a person who had got trained in college, university, or technical school. Because of the lack of skilled personnel in many manufacturing and IT organizations, most of these companies are giving their technical work for outsourcing to other companies. This can be decreased by providing internal training in the organization. For instance, according to the Centre for Monitoring Indian Economy, an India-based government organization, in March 2022, the Indian skilled labour force had decreased by 3.8 million during 2022. Also, employment decreased by 1.4 million which is 396 million in 2022. This reduction decreased the employment rate by 36.7% for the year 2022. Further, according to Fortune, a US-based online news daily, in 2022, it is estimated that 85 million jobs will go unfilled globally by 2030 due to skills shortages, resulting in about $8.5 trillion in unrealized annual revenues. Therefore, the Lack of skilled personnel is driving the growth of the engineering research and development outsourcing market. Partnership and collaboration is a key trend gaining popularity in the engineering research and development (ER&D) outsourcing market. Major players in the engineering research and development (ER&D) outsourcing market are focused on partnerships and collaborations to sustain their marketplace. For instance, in February 2020, Infosys Limited, an India-based information technology company, partnered with GE Appliances, a US-based Haier company, to efficiently streamline IT operations. With this partnership, Infosys would help GE Appliances enhance the pace of their digital and workplace transformation by providing automation-driven managed IT services support for their worldwide command centers, support desks, end-user computing, IT facilities, and solutions. Furthermore, in March 2022, HCL, an India-based software technology company, partnered with Novo Nordisk for an undisclosed amount. With this partnership HCL helps, Novo Nordisk transform its IT operations, creates world-class end-user experiences, and increases the efficiency across its workforce. Through this partnership, HCL will implement a diversified omni-channel digital workplace solution for Novo Nordisk. Using the knowledge-centered service (KCS) methodology it helps the company to develop its next-generation automation and self-service capabilities. With this HCL will support more than 48,000 end-users. Novo Nordisk is a Denmark-based pharmaceutical company. Asia-Pacific was the largest region in the engineering research and development outsourcing market in 2022. The regions covered in the engineering research and development (ER&D) outsourcing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the engineering research and development (ER&D) outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA. The engineering research and development (ER&D) outsourcing market includes revenues earned by entities by providing outsourcing services such as service outsourcing, equipment outsourcing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The engineering research and development (ER&D) outsourcing market research report is one of a series of new reports from The Business Research Company that provides engineering research and development (ER&D) outsourcing market statistics, including engineering research and development (ER&D) outsourcing industry global market size, regional shares, competitors with an engineering research and development (ER&D) outsourcing market share, detailed engineering research and development (ER&D) outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the engineering research and development (ER&D) outsourcing industry. This engineering research and development (ER&D) outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Medical billing outsourcing services are services in which a healthcare provider hires a medical billing service provider outside their practice to do all the billing. The main types of services in medical billing outsourcing are the front end and back end. The front-end is in charge of the patient experience, while the back-end is in charge of claims processing and reimbursement. To push income across the cycle, each component has its own departments, people, and policies. The different components include in-house, and outsourced and are used by various sectors such as hospitals and physician offices. The global medical billing outsourcing market is segmented - 1) By Service: Front End, Back End 2) By End User: Hospitals, Physician Offices 3) By Component: In-house, Outsourced The global medical billing outsourcing market size grew from $13.56 billion in 2022 to $15.12 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical billing outsourcing market is expected to grow from $23.76 billion in 2027 at a CAGR of 12.0%. The rising need for error minimization contributed to the growth of the medical billing outsourcing market. It is estimated that, in the US, 80% of medical bills contain errors. For instance, Equifax, a credit agency firm, found in its audit that hospital bills ranging above $10,000 have an average error amount of $1,300. It is also estimated that doctors lose around $125 billion each year due to poor billing practices in the USA. The rising need for error minimization and optimization of the billing process drove the medical billing outsourcing market. Major players in the medical billing outsourcing market are Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL and Allscripts. The variable cost charged in the medical billing services by the service provider is expected to limit the medical billing outsourcing market. According to the Medical Billing Service Review, there is a price for every service provided by medical billing service providers. The charge on the billing services is a percentage ranging between 3% to 10% per bill indicating more the number of patients, more the hospital or clinic should pay to the service providers. The variable cost in the medical billing services has a negative impact on the medical billing outsourcing market. The medical billing service providers are expanding their service through cloud-based medical billing software and Electronic Health Record (EHR) services. Cloud-based medical billing software provides more security with the patient details compared to the alternatives and companies are launching cloud-based software to provide enhanced security to their clients. For instance, in 2021, Epic Systems, a US based software company providing cloud-based medical software that may be used by a wide range of practice kinds and sizes. With built-in EHR, medical billing and coding, patient management features, and more, their platform provides complete Revenue Cycle Management (RCM) capability. In June 2020, R1 RCM, a US-based healthcare revenue management cycle company serving hospitals and physician groups, agreed to acquire Cerner RevWorks for a deal amount of $30 million. The acquisition is expected to extend the comprehensive revenue cycle capabilities of R1 and help drive sustainable financial improvements for healthcare providers and to enhance their patients’ overall experience. North America was the largest region in the medical billing outsourcing market in 2022. Western Europe was the second largest region in the global medical billing outsourcing market analysis. The regions covered in the global medical billing outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medical billing outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical billing outsourcing market includes revenues earned by entities by providing Medical Billing Services, medical coding services, patient demographic entry, submission of claims, medical coding analysis services, and ASC billing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products. The medical billing outsourcing market research report is one of a series of new reports from The Business Research Company that provides medical billing outsourcing market statistics, including medical billing outsourcing industry global market size, regional shares, competitors with a medical billing outsourcing market share, detailed medical billing outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the medical billing outsourcing industry. This medical billing outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Hospital outsourcing is a process in which some processes of a hospital are assigned to another vendor or a smaller facility that has expertise and specialization in the specific area. This helps to provide support to hospital processes and smooth running of the hospitals. The main types of hospitals in the hospital outsourcing market are private and public. A private hospital refers to a hospital that is not owned by the government, these hospitals provide various types of services and activities conducted for the development and smooth function of hospitals. The various sizes of hospitals include small and medium hospitals and large hospitals that provide several services such as healthcare IT, clinical services, business services, transportation services, and others. The various end-users include nursing homes and assisted living, specialty hospitals, general medical and surgical hospitals, emergency and other outpatient care centers, and others. The global hospital outsourcing market is segmented - 1) By Hospital Type: Private, Public 2) By Hospital Size: Small and Medium Hospitals, Large Hospitals 3) By Services: Healthcare IT, Clinical Services, Business Services, Transportation Services, Other Services 4) By End-Users: Nursing Homes and Assisted Living, Speciality Hospitals, General Medical and Surgical Hospitals, Emergency and Other Outpatient Care Centers, Other End Users The global hospital outsourcing market size grew from $327.9 billion in 2022 to $375.1 billion in 2023 at a compound annual growth rate (CAGR) of 14.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital outsourcing market size is expected to grow to $612.24 billion in 2027 at a CAGR of 13.0%. The increase in diabetic patient flow in hospitals is expected to propel the growth of the hospital outsourcing market going forward. Hospitals opt for outsourcing services when there is an increase in patients and the hospital infrastructure is not capable of handling a large number of patients. This is a result of the rise in chronic illnesses, including diabetes, cardiovascular disease, and others, which are increasing the number of patients being admitted to hospitals and, eventually, placing greater pressure on medical procedures. For instance, according to the International Diabetics Federation (IDF) report, a Belgium-based diabetic organization, in the year 2021, approximately 537 million adults in-between the age group 20-79 years were living with diabetes and it is estimated to rise to 643 million by 2030 and 783 million by 2045. Therefore, the increase in diabetic patient flow in hospitals is driving the growth of the hospital outsourcing market. Major players in the hospital outsourcing market are AllScripts Healthcare Solutions Inc., Cerner Corporation, Sodexo S.A., LogistiCare Solutions LLC, The Allure Group, Aramark Corporation, Alere Inc., Flatworld Solution, Integrated Medical Transport, ABM Industries Inc., Abbott Laboratories, 3M Company (3M Health Information Systems), and TriMedx LLC. Technology advancements have emerged as the key trend gaining popularity in the hospital outsourcing market. Major companies operating in the hospital outsourcing sector are focused on introducing technological innovations to sustain their position in the market. For instance, in May 2020, HSG Advisors, a US-based national healthcare consulting firm, launched an advanced Virtual Health consulting service which can be used in hospitals, and healthcare systems. This virtual health service helps doctors to visit patients virtually for regular checkups. This is based on AI (artificial intelligence) technology, which helps to book appointments easily and allocate time slots with doctors. In March 2021, Omega Healthcare, a US-based company operating in outsourced revenue cycle management and other hospital support services, acquired Himagine Solutions Inc. for an undisclosed amount. Through this acquisition, Omega Healthcare aims to expand its service capabilities and the ability to service clients globally with a more integrated end-to-end solution. Additionally, Omega healthcare also aims to gain Himagine’s expertise in clinical documentation improvement (CDI) for coding audits, and chart abstraction for medical registries including United States cancer and trauma registries. Himagine Solutions Inc. is a US-based company that provides hospital outsourcing services such as medical coding, coding audit, registry management, and others. North America was the largest region in the hospital outsourcing market in 2022. The regions covered in the hospital outsourcing market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the hospital outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The hospital outsourcing market includes revenues earned by entities by providing medical administration, medical transcription, it systems management and consultancy services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced.It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The hospital outsourcing market research report is one of a series of new reports from The Business Research Company that provides hospital outsourcing market statistics, including hospital outsourcing industry global market size, regional shares, competitors with a hospital outsourcing market share, detailed hospital outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the hospital outsourcing industry. This hospital outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Medical device outsourcing is a process in which a company outsources the manufacturing process of a medical device to another company. The main types of products in medical device outsourcing are finished goods, electronics, and raw materials. Products that have passed or completed the production process but have not yet been sold or dispersed to the ultimate consumer are referred to as finished goods. The various device types are class I devices, Class II devices, and class III devices that provide services such as quality assurance, regulatory affair services, product design development, product testing, and sterilization, product implementation, product upgrade, product maintenance, and contract manufacturing. It has various applications including drug delivery, dental, diabetes care, cardiology, endoscopy, IVD, ophthalmic, diagnostic imaging, orthopedics, and general and plastic surgery. The global medical device outsourcing market is segmented – 1) By Product: Finished Goods, Electronics, Raw Materials 2) By Device Type: Class I Devices, Class II Devices, Class III Devices 3) By Services: Quality Assurance, Regulatory Affair Services, Product Design Development, Product Testing And Sterilization, Product Implementation, Product Upgrade, Product Maintenance, Contract Manufacturing 4) By Application: Drug Delivery, Dental, Diabetes Care, Cardiology, Other Applications The global medical device outsourcing market size grew from $114.95 billion in 2022 to $129.4 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global medical device outsourcing is expected to grow to $204.25 billion in 2027 at a CAGR of 12.1%. The prevalence of chronic diseases is expected to propel the growth of the medical device outsourcing market going forward. Chronic diseases are the conditions that last 1 year or more and require ongoing medical attention or limit activities of daily living or both. The rising chronic diseases increase the demand for new quality medical products in less launch time thereby driving the growth of the medical devices outsourcing market. For instance, according to the UN Chronicle, a digital magazine of the United Nations, the global burden of chronic diseases is expected to reach about 56% by 2030. Therefore, the prevalence of chronic diseases will drive the growth of the medical device outsourcing market. Major players in the medical device outsourcing market are Flex Ltd., Integer Holdings Corporation, Plexus Corp., Toxikon Inc., Eurofins Scientific SE, Pace Analytical Services Inc., WuXi AppTec Inc., North American Science Associates Inc., Charles River Laboratories International Inc., Creganna, IQVIA, Mitutoyo Corporation, Cardinal Health Inc., Onex Corporation, Te Connectivity Ltd., Nortech Systems Incorporated, Sanmina Corporation, and Sterigenics International LLC. Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the medical device outsourcing market. Major companies operating in the market are focusing on partnerships and collaborations to lead the market. For instance, in December 2021, Labcorp, a US-based laboratory testing company acquired Toxikon Corporation for an undisclosed amount. This acquisition would extend Labcorp’s portfolio of full-service drug development and medical device solutions from discovery to market approval. Toxikon Corporation is a US-based contract manufacturing company that provides outsourcing services for medical devices. Furthermore, in February 2020, Integer Holdings, a US-based advanced medical device outsourcing company acquired Inomec for an undisclosed amount. This acquisition of Inomec will allow Integer to establish a research and development and sales center in Israel, in addition to optimizing its catheter design, clinical, and pilot manufacturing capabilities. Income is an Israel-based medical device outsourcing company. In December 2021, Integer Holdings, a US-based advanced medical device outsourcing company, acquired Oscor Inc. for $220 million. This acquisition of Oscor strengthens Integer’s ability to serve customers by expanding the product offering in steerable sheaths and cardiac and neurostimulation leads and adding low-cost manufacturing capacity to support growth. Oscor is a US-based company that operates in medical device outsourcing services. North America was the largest region in the medical device outsourcing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device outsourcing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the medical device outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical device outsourcing market includes revenues earned by entities by providing services such as design and development. Components and devices manufacturing, process validation and verification, Packaging, regulatory consultation, and full services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The medical device outsourcing market research report is one of a series of new reports from The Business Research Company that provides medical device outsourcing market statistics, including medical device outsourcing industry global market size, regional shares, competitors with a medical device outsourcing market share, detailed medical device outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the medical device outsourcing industry. This medical device outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive transmission engineering services outsourcing refer to services that provide outsourced development assistance for cutting-edge powertrain systems. Automotive transmission engineering is an important process in the manufacturing of automobiles and it is done to make sure that the power flow from the engine to the wheels for ensuring the movement of the vehicle. The main service types of automotive transmission engineering services outsourcing are designing, prototyping, testing, system engineering and integration, and simulation. The designing services include expert knowledge and modelling components, concept generation and assessment, and using components that are automatically proportioned. The designing services also include providing a fresh set of driveline components or systems to utilise as a starting point for the final design. The two types of powertrains are conventional and hybrid which support automatic and manual transmission types. The automotive transmission engineering services outsourcing services are applied for commercial automotive, industrial automotive, and passenger automotive. The global automotive transmission engineering services outsourcing market is segmented - 1) By Service Type: Designing, Prototyping, Testing, System Engineering and Integration, Simulation 2) By Powertrain: Conventional, Hybrid 3) By Transmission Type: Automatic, Manual 4) By Application: Commercial Automotive, Indstrial Automotive, Passenger Automotive The global automotive transmission engineering services outsourcing market size will grow from $11.72 billion in 2022 to $12.24 billion in 2023 at a compound annual growth rate (CAGR) of 4.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global automotive transmission engineering services outsourcing market is expected to grow to $14.54 billion in 2027 at a CAGR of 4.4%. The increasing production of vehicles and rising demand for hybrid vehicles will propel the growth of the automotive transmission engineering services outsourcing market during the forecast period. A hybrid automobile has two or more engines, one of which is an electric motor and the other is a traditional engine either petrol or diesel. The benefit of a hybrid car over a gasoline-powered car is leading an increase in automotive vehicles, resulting in the growth of the automotive transmission engineering services outsourcing across the globe. For instance, In 2021, hybrid vehicles accounted for 19.6% of all new passenger cars sold in The EU region. This is increased from the 11.9 % market share that was held in 2020. The environmentally friendly nature of hybrid vehicles has increased the demand for hybrid vehicles and it is driving the automotive transmission engineering services outsourcing market. The technological advancements in automotive transmission are a key trend followed in the automotive transmission engineering services outsourcing market. Adaptation of new technological advancements by companies is resulting in a major growth opportunity in the automotive transmission engineering services outsourcing market. For instance, in June 2021, IAV and the Massachusetts Institute of Technology (MIT) initiated a cooperative research project for alternative propulsion systems in June 2021, analysing and assessing various drive types in heavy-duty vehicles based on hydrogen, electrification, hybridization, and methane combustion. In February 2021, Apollo Future Mobility Group Limited, a China-based mobility technology solution provider acquired Ieenion Automobile AG for an un-disclosed amount. This acquisition will help the Apollo Future Mobility Group Limited to expand its new energy vehicle solutions as well as services and become a leading full-service provider. Ideenion Automobil AG is a Germany-based automotive engineering services outsourcing (ESO) provider. Major players in the automotive transmission engineering services outsourcing market are AVL GmbH, FEV GmbH, IAV GmbH, Ricardo PLC., Intertek Group PLC., Porsche Engineering, Tata Consultancy Services Limited, Magna International Inc., Magneti Marelli S.p.A, Horiba, Ltd., Intertek Group plc, Dr. Ing. h.c. F. Porsche AG., Marelli Holdings Co., Ltd., Bertrandt AG, ALTEN Group, Altran, AISIN SEIKI Co., Ltd., ZF Friedrichshafen AG, Schaeffler Engineering GmbH, Continental AG, Eaton, and Smart Manufacturing Technology Ltd. Asia-Pacific was the largest region in the automotive transmission engineering services outsourcing market share in 2022. The regions covered in the global automotive transmission engineering services outsourcing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the automotive transmission engineering services outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The automotive transmission engineering services outsourcing market includes revenues earned by entities by providing services such as backward vertical integration, conglomerate integration, forward vertical integration, horizontal integration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The automotive transmission engineering services outsourcing market research report is one of a series of new reports from The Business Research Company that provides automotive transmission engineering services outsourcing market statistics, including automotive transmission engineering services outsourcing industry global market size, regional shares, competitors with an automotive transmission engineering services outsourcing market share, detailed automotive transmission engineering services outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the automotive transmission engineering services outsourcing industry. This automotive transmission engineering services outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Legal process outsourcing refers to outsourcing legal functions or processes to an external, third-party service provider to save costs and for knowledge sharing, where discrete legal services are transferred from internal departments to external firms, paraprofessionals, or local lawyers. Outsourcing legal work allows firms to quickly scale up for a case or project, putting them on equal footing with larger firms. Flexible staffing also lowers the firm's overhead. The main types of legal process outsourcing services include contract drafting, review, and management, compliance assistance, e-discovery, litigation support, patent support, and other LPO services. The contract drafting service involves processes for writing down the terms and conditions of an agreement related to legal matters. The parties involved go through several drafts and negotiation sessions before the official legal contract is finalized. The legal process outsourcing service providers to both on-shore and offshore customers from law firms, enterprises, and government. The global legal process outsourcing market is segmented - 1) By LPO Services: Contract Drafting, Review, and Management, Compliance Assistance, E-Discovery, Litigation Support, Patent Support; Other LPO Services 2) By Location: Offshore, On-shore 3) By Application: Law Firm, Enterpris , Government The global legal process outsourcing market size will grow from $11.76 billion in 2022 to $14.81 billion in 2023, at a compound annual growth rate (CAGR) of 26.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global legal process outsourcing market is expected to grow to $38.13 billion in 2027 at a CAGR of 26.7%. The high demand for legal assistance is expected to drive the legal process outsourcing market. Legal assistance is witnessing high demand due to various reasons such as workplace problems, rising financial hardship, domestic violence protective orders, various debt matters, strict laws, and others. This rising need for legal assistance will lead to high demand for legal services including legal process outsourcing as even standalone firms cannot handle the rising demand for legal services, making them outsource the legal services. The legal process outsourcing enables knowledge sharing and reduces costs for firms in addition to providing legal assistance. For instance, according to the 2020 legal department strategy survey involving chief and senior legal officers by Deloitte, 78% of respondents indicated that the legal workload has increased due to COVID-19. Over 50% of all respondents expect to increase engagement with alternate legal service providers (ALSPs), whether these were part of their model before COVID-19 or not. In addition, according to the US Bureau of Labor Statistics, the employment requirement of legal assistants and paralegals is expected to grow by 12% from 2020 to 2030, which is faster than the average for all occupations. Both instances signify that the need for legal assistance is increasing significantly. Thus, the high demand for legal assistance will propel the growth of the legal process outsourcing market. Major players in the legal process outsourcing market are Cobra Legal Solutions LLC, CPA Global Limited, Elevate Services Inc., Infosys BPM Ltd., Integreon Managed Solutions Inc., Lex Outsourcing, QuisLex Inc., UnitedLex Corporation, Wipro Limited, Mindcrest Inc., Clutch Group, Pangea3 LLC, Clairvolex, American Discovery, Amstar Litigation Support, SmithDehn India, Acumen Legal Services Pvt Ltd., ADEC Innovations, BODHI Global Solutions, Datascribe Technologies Inc., Evalueserve SEZ, Kensium BPO, LawScribe Inc., Axiom Law, Exigent, Legal Advantage LLC, Capgemini SE, Capita, Ernst & Young Global Limited, Clarivate, and Cogneesol. Technology advancement is a key trend gaining popularity in the legal process outsourcing market. The market is witnessing the integration of technological advancements in legal process outsourcing services such as the integration of cloud technology for better e-discovery services. These solutions enable firms to streamline their legal functions and improve customer experience. Many companies operating in the legal process outsourcing market are focusing on adopting advanced solutions to impirve their business activities and strengthen their market position. For instance, in July 2021, Cobra Legal Solutions, a US-based legal support services provider announced the expansion of its eDiscovery offering with the addition of Relativity’s cloud-based eDiscovery solution, RelativityOne. Through this technology, firms can streamline their discovery process in a single, secure SaaS (software as a service) platform that covers the full range of e-discovery, from legal hold to production. In October 2022, Odyssey Investment Partners LLC, a US-based middle-market private equity firm, acquired Magna Legal Services for an undisclosed amount. With this acquisition, Odyssey Investment Partners LLC would support Magna Legal Services, which further drive growth and expand their businesses. Magna Legal Services is a UK-based legal services company that provides litigation support services, such as court reporting, graphic design, jury consulting, record retrieval, and translation services. Asia-Pacific was the largest region in the legal process outsourcing market share in 2022. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the global legal process outsourcing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the legal process outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The legal process outsourcing market includes revenues earned by entities by providing services such as professional outsourcing, IT outsourcing, manufacturing outsourcing, project outsourcing, process outsourcing, and operational outsourcing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The legal process outsourcing market research report is one of a series of new reports from The Business Research Company that provides legal process outsourcing market statistics, including legal process outsourcing industry global market size, regional shares, competitors with a legal process outsourcing market share, detailed legal process outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the legal process outsourcing industry. This legal process outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The regulatory affairs outsourcing refers to external services utilized by the pharmaceutical, biotech and medical devices manufacturing companies to gain fast regulatory approvals from various organizations. These include pharmaceutical regulations, quality, safety, and efficacy criteria, as well as the attitudes and requirements of health authorities. The services offered by regulatory affairs outsourcing include legal representation, regulatory consulting, product registration & clinical trial application, regulatory writing & publication, and others. Legal representation refers to the legal work done by advocates for the representation of regulatory affairs on behalf of pharmaceutical and medical device companies. It includes all court work and judiciary work done by a lawyer. They are used for regulatory approvals of medical devices, biologics and drugs used for the treatment of neurology, oncology, immunology, cardiology, and other medical indications. These services are adopted by companies operating in medical device, biotechnology and pharmaceutical sector. The global regulatory affairs outsourcing market is segmented - 1) By Service: Legal Representation, Regulatory Consulting, Product Registration & Clinical Trial Application, Regulatory Writing & Publication, Other Services 2) By Indication: Neurology, Oncology, Immunology, Cardiology, Other Indications 3) By Category: Biologics, Drugs, Medical Devices, By Company Size: Small, Medium, Large 4) By End User: Medical Device Company, Biotechnology Company, Pharmaceutical Company The global regulatory affairs outsourcing market size will grow from $6.92 billion in 2022 to $7.75 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global regulatory affairs outsourcing industry is expected to grow to $12.41 billion in 2027 at a CAGR of 12.5%. The growth in R&D activities for new vaccines, therapeutics, and medical devices is expected to propel the growth of the regulatory affairs outsourcing market. The companies operating in the medical device, pharmaceutical, and biotechnological sectors are increasingly investing in R&D activities to develop innovative products and expand their business across the globe. Additionally, these companies are inkling toward outsourcing regulatory affairs to reduce the operational costs and increase the speed of the regulatory process by utilizing professionals involved in it. For instance, according to National Health Expenditures (NHE) report, prepared by the Office of the Actuary at the Centers for Medicare & Medicaid Services (CMS) suggests that federal public health spending was increased to $114.9 billion including spending on vaccine development resulting in 36% increase in federal government spending on health care in 2020. Therefore, the growth in R&D activities for new vaccines, therapeutics, and medical devices is expected to drive the growth of the regulatory affairs outsourcing market. Major players in the regulatory affairs outsourcing market are Accell Clinical Research, LLC, Certara, L.P., Charles River Laboratories International, Inc., Clinilabs Inc., Covance (Labcorp Drug Development), Criterium, Freyr, GenPact Ltd., ICON plc, IQVIA Holdings Inc., Medpace, Parexel International Corporation, Inc., Pharmaceutical Product Development, LLC (PPD), PRA Health Sciences, Promedica International, WuXiAppTec, Inc., and Quintiles Transnational Corporation. The advent of efficient software that keeps the record of regulatory affairs is a key trend gaining popularity in the regulatory affairs outsourcing market. Key players operating in the regulatory affairs outsourcing market are focusing on developing efficient software that keeps the record of regulatory affairs. For instance, in December 2021, SureClinical, a provider of health science cloud applications and services, launched new Eclinical Ecosystem ECO Applications and Platform Bundle. With the ECO Bundle, clinical research organizations can connect people, projects, programs, and processes everywhere for a single clinical view. In addition to project management, document management, site management, and quality management, the ECO bundle also supports multiple audits and centralized data and documents. In July 2021, ProductLife Group (PLG), a France-based provider of regulatory services to the life science sector acquired ELC Group for an undisclosed amount. The acquisition by PLG is focused on expanding its product offering and operational presence in the regulatory service sector across the globe. ELC Group, Czech Republic-based involved in offering regulatory consulting services. North America was the largest region in the regulatory affairs outsourcing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the regulatory affairs outsourcing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the regulatory affairs outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regulatory affairs outsourcing market includes revenues earned by entities by providing services such as scope representation, full-service representation, ghostwriting representation, and fixed-rate representation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The regulatory affairs outsourcing market research report is one of a series of new reports from The Business Research Company that provides regulatory affairs outsourcing market statistics, including regulatory affairs outsourcing industry global market size, regional shares, competitors with regulatory affairs outsourcing market share, detailed regulatory affairs outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the regulatory affairs outsourcing industry. This regulatory affair outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Research and development outsourcing services refers to a service in which a company hires another company to handle R&D duties and operations that were previously held by the company's staff. The primary goal of R&D outsourcing is to reduce costs, reduce business risks, and accelerate product market entry. This outsourcing function improves organizational effectiveness, shorter product development cycles, greater access to high technology, or restructured and improved resource use. The main types of research and development outsourcing services are onshore and offshore. Onshore refers to the service obtaining services from someone who is not affiliated with a corporation yet lives in the same country. The research and development outsourcing services are used by small, medium, and large enterprises in automotive, consumer electronics, telecommunications, semiconductor, aerospace, healthcare, and construction. The global research and development outsourcing services market is segmented – 1) By Type: On Shore, Off Shore 2) By Size: Small and Medium Enterprises, Large Enterprises 3) By End User: Automotive, Consumer Electronics, Telecommunications, Semiconductor, Aerospace, Healthcare, Construction The global research and development outsourcing services market size will grow from $7.7 billion in 2022 to $8.36 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global research and development outsourcing services is expected to grow to $11.69 billion in 2027 at a CAGR of 8.7%. Enterprises increased access to the global talent outsourcing service is expected to propel the research and development outsourcing services market. Companies are pooling talent from around the world to meet their demands and requirements. Global talent increases the diversity and breadth of experience in the current staff, increasing organizations' mobility. It helps to interact with workers from diverse cultures using a global talent pool. According to the 2022 Global Software Outsourcing Trends and Rates Guide report published by Accelerance, an outsourcing advisor providing software development resources states that 64 % of companies outsource their application development to other enterprises requiring enhanced expertise from external partners such as an IT outsourcing firm. Furthermore, Mid-sized businesses are driving software outsourcing demand, with average outsourcing increasing to 11.8 % from 9.1% in 2020. Therefore, increasing access to global outsourcing services will drive the research and development outsourcing services market. Major players in the research and development outsourcing services market are Cyient Limited, GlobalLogic, HCL Technologies Ltd., Tech Mahindra Ltd., Mindtree, Tata Consultancy Services Ltd., Wipro Ltd., Aricent Group, Accenture plc, Aspire Systems Inc., Beyondsoft Corp, Kistler Instrumente AG, Microsoft Corporation, Samsung Electronics Co Ltd., Altair Engineering Inc., Capgemini Services SAS, and Kistler Instrumente AG. Partnerships and collaborations are a key trend gaining popularity in the research and development outsourcing market. Major technology providers are partnering with different companies to advance their developments in the research and development outsourcing market. For instance, In March 2020, Microsoft, a US-based technology company, and Accenture, an Ireland-based Information technology company, partnered to increase the societal impact of emerging technology. Microsoft Research India and Accenture Labs will collaborate to help social enterprise startups with R&D of testing and validating proofs-of-concept, conducting creative thinking sessions to help them re-imagine the impact of their solutions, and providing support in exploring and using Microsoft technologies through the program. In November 2021, Softline Group, a London-based provider of IT solutions and services, acquired the software development outsourcing business of the Aplana Group for an undisclosed amount. With this acquisition, Softline would encourage the expansion of trade in customs development and the export of Russian competencies and technologies worldwide. Aplana Group is a Europe-based software company providing services for developing, implementing, and integrating corporate software products. North America was the largest region in the research and development outsourcing services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in research and development outsourcing services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the research and development outsourcing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The research and development outsourcing services market includes revenues earned by entities by providing services such as component innovations, design, new process innovations, new product innovations, and software design,. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The research and development outsourcing services market research report is one of a series of new reports from The Business Research Company that provides research and development outsourcing services market statistics, including research and development outsourcing services industry global market size, regional shares, competitors with a research and development outsourcing services market share, detailed research and development outsourcing services market segments, market trends and opportunities, and any further data you may need to thrive in the research and development outsourcing services industry. This research and development outsourcing services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.