DUBLIN--(BUSINESS WIRE)--The "Medical Writing Market Size, Share & Trends Analysis Report by Type (Clinical, Regulatory), by Application (Medical Journalism, Medico Marketing), by End Use, by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
Increasing R&D investments by pharmaceutical companies, a rise in contract research organization (CRO) outsourcing, partnerships & collaborations between market players, a surge in the number of clinical trials and updates in medical device regulations are all contributing to growth in the medical writing market.
The European MEDDEV 2.7/1 Rev.4 guidance on Clinical Evaluation Reports (CER) was published in 2016. As per a recent article published in 2018, regulations, such as European Medical Devices Regulation (MDR 2017/745) and In-Vitro Diagnostics Regulation (IVDR 2017/746) followed in May 2017, and key changes relevant to writers in the field of medicine include increased need for relevant data from clinical studies and a requirement for experienced authors. Such stringent regulations are expected to positively impact market growth in the medical writing market.
Drug development is a billion dollar industry with complex processes of obtaining product approvals. A well-documented, well-communicated, and well-developed research proposal is needed to gain product approval, which increases the demand for experienced writers in the field of medicine. In addition, social media has become a crucial part of marketing and communication strategies of many organizations, including healthcare providers. Social networking is now being used in order to engage with patients as part of digital marketing, thereby creating high demand for writing services in the field of medicine.
Strategic alliances between large pharma companies and CROs have become an ongoing trend. Around 20 major partnerships have been finalized in the last five years. For instance, in October 2016, Quintiles and IMS Health underwent the biggest merger in the CRO industry and re-established the weightage of both the companies. The merger helped Quintiles to use IMS' internal database in order to design targeted and complex clinical trials.
Further key findings from the study suggest:
- By type, the clinical writing segment dominated the market in 2019 due to increase in clinical trials. The regulatory writing segment is expected to witness the fastest growth over the forecast period.
- On the basis of application, medical journalism dominated the market in 2019 and is expected to maintain its lead over the forecast period.
- Medical writing has become essential in the field of education as specialized knowledge and skill is required to write well-structured and lucid scientific documents, thus driving the medical education application segment.
- Based on the end use, CROs & others accounted for the largest market share in 2019 and are expected to exhibit the fastest CAGR over the forecast period.
- In 2019, North America dominated the global medical writing market due to the increasing number of drug trials and approval of new drugs.
- Asia Pacific is expected to expand at the fastest CAGR over the forecast period owing to the availability of cheap labor, an abundance of resources, and the presence of English writers.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
2.4 Medical Writing Market Outlook, 2019
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Penetration & Growth Prospect Mapping
3.3 Medical Writing Market: Business Environment Analysis Tools
Chapter 4 Medical Writing Market: Type Analysis
4.1 Medical Writing Type Market Share Analysis, 2019 & 2027
4.2 Medical Writing Type Market: Segment Dashboard:
4.3 Market Size & Forecasts and Trend Analyses, 2016 to 2027 for the Type Segment
Chapter 5 Medical Writing Market: Application Analysis
5.1 Medical Writing Treatment Application Market Share Analysis, 2019 & 2027
5.2 Medical Writing Treatment Application Market: Segment Dashboard
5.3 Market Size & Forecasts and Trend Analyses, 2016 to 2027 for the Application
Chapter 6 Medical Writing Market: End Use Analysis
6.1 Medical Writing End Use Market Share Analysis, 2019 & 2027
6.2 Medical Writing End Use Market: Segment Dashboard
6.3 Market Size & Forecasts and Trend Analyses, 2016 to 2027 for the End Use
Chapter 7 Medical Writing Market: Regional Analysis
7.1 Medical Writing Regional Market Share Analysis, 2019 & 2027
7.2 Medical Writing Regional Market: Segment Dashboard
7.3 Regional Market Snapshot (Market Size, CAGR, Top Verticals, Key Players, Top Trends)
Chapter 8 Competitive Analysis
8.1 Recent Developments & Impact Analysis, by Key Market Participants
8.2 Strategy Framework
8.3 Vendor Landscape
Chapter 9 Recommendations
- Parexel International Corporation
- Trilogy Writing & Consulting GmbH
- Cactus Communications
- Covance, Inc.
- IQVIA HOLDINGS INC.
- OMICS International
- SIRO Clinpharm Private Limited
- InClin, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jxt302
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