DUBLIN--(BUSINESS WIRE)--The "Medical Writing Market Size, Share & Trends Analysis Report By Application (Medical Journalism, Medico Marketing), By Type (Clinical, Regulatory), By End Use (Pharma & Biotech Companies, CROs), And Segment Forecasts, 2019 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global medical writing market size is expected to reach USD 3.75 billion by 2026 registering a CAGR of 10.3%.
Increasing demand for regulatory paperwork in the pharmaceutical and biotechnology industries is driving the medical writing market. Rising need for marketable written content to convey drug-related information to healthcare professionals and patients is also likely to augment the market growth. Pharmaceutical companies face many regulatory complexities, this creates a need for expertise in different portfolios driving the demand for clinical services outsourcing market.
Increasing R&D costs are expected to drive this demand further over the forecast years. Drug manufacturers outsource the production of medicines in the form of clinical trials. Large-scale pharma organizations have in-house medical writing division. However, rise in patent expiry in recent years has resulted in a compelling need to gain efficiencies and reduce costs. A survey by CenterWatch on pharmaceutical services reported that medical writing is the fourth most outsourced clinical function. Majority of such services are outsourced by drug manufacturers to the developed regions.
However, developing countries, such as China and India, have been able to capture a share in this industry due to the availability of the labor force. Low costs, along with a high number of science graduates, gives developing economies an advantage over other regions. North America was the dominant regional market in 2018 due to a comprehensive regulatory framework for novel drug and healthcare products. Asia Pacific is expected to be the fastest-growing market owing to availability of the labor force and increasing number of CROs.
Further key findings from the study suggest:
- The clinical writing type segment led the global medical writing market , in terms of revenue, in 2018 and is projected to maintain its dominance over the forecast period.
- Regulatory writing is expected to witness the fastest CAGR from 2019 to 2026 due to need for regulatory documents for submission in support of approval or maintenance of healthcare products.
- Medical journalism led the application segment in the past due to increasing need for multiple reliable sources of medical information and update on current treatment methodologies in the drug industry.
- CROs held the majority share of the end use segment in 2018 on account of rapid expansion of CROs in developing economies and increasing cost of drug development.
- IQVIA, PAREXEL International Corp., Triology Writing & Consultancy GmbH, Covance, Inc., OMICS International, and Freyr Solutions are some of the key companies in the global market.
Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Penetration & Growth Prospect Mapping
3.2.1 Penetration Analysis
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraint Analysis
3.3.3 Industry Opportunities
3.4 Medical Writing Market: Business Environment Analysis Tools
3.4.1 Porter's Five Forces Analysis
220.127.116.11 Bargaining power of buyers: High
18.104.22.168 Bargaining power of suppliers: Moderate
22.214.171.124 Competitive rivalry: High
126.96.36.199 Threat of new entrants: Moderate
188.8.131.52 Threat of substitutes: Low
3.4.2 Pestel Analysis
184.108.40.206 Political & Legal Landscape
220.127.116.11 Economic Landscape
18.104.22.168 Social Landscape
22.214.171.124 Technological Landscape
126.96.36.199 Environmental Landscape
Chapter 4 Medical Writing Market: Type Analysis
4.1 Medical Writing Type Market Share Analysis, 2018 & 2026
4.2 Medical Writing Type Market: Segment Dashboard:
4.3 Market Size & Forecasts and Trend Analyses, 2015 to 2026 for the Type Segment
4.3.1 Clinical Writing
4.3.2 Regulatory Writing
4.3.3 Scientific Writing
Chapter 5 Medical Writing Market: Application Analysis
5.1 Medical Writing Treatment Application Market Share Analysis, 2018 & 2026
5.2 Medical Writing Treatment Application Market: Segment Dashboard
5.3 Market Size & Forecasts and Trend Analyses, 2015 to 2026 for the Application
5.3.1 Medical Journalism
5.3.2 Medical Education
5.3.3 Medico Marketing
Chapter 6 Medical Writing Market: End Use Analysis
6.1 Medical Writing End Use Market Share Analysis, 2018 & 2026
6.2 Medical Writing End Use Market: Segment Dashboard
6.3 Market Size & Forecasts and Trend Analyses, 2015 to 2026 for the End Use
6.3.1 Pharmaceutical & Biotechnology Companies
6.3.2 Contract Research Organizations (Cros)
Chapter 7 Medical Writing Market: Regional Analysis
7.1 Medical Writing Regional Market Share Analysis, 2018 & 2026
7.2 Medical Writing Regional Market: Segment Dashboard
7.3 Regional Market Snapshot (Market Size, CAGR, Top Verticals, Key Players, Top Trends)
7.4 Market Size, & Forecasts, and Trend Analysis, 2015 to 2026
7.4.1 North America
7.4.3 Asia Pacific
7.4.4 Latin America
7.4.5 Middle East And Africa (MEA)
Chapter 8 Competitive Analysis
8.1 Recent Developments & Impact Analysis, by Key Market Participants
8.2 Strategic Framework/Competition Categorization (Key innovators, Market leaders, emerging players
8.3 Vendor Landscape
8.3.1 Company Market Position Analysis (Revenue, Geographic Presence, Product Portfolio, Strategic Initiatives, Employee Strength)
8.4 Company Profiles
8.4.1 Parexel International Corporation
8.4.2 Triology Writing & Consultancy GmbH
8.4.3 Freyr Solutions
8.4.4 Cactus Communications
8.4.7 Omics International
8.4.9 Siro Clinpharm
8.4.11 Inclin Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2044zh