Medical Writing Market Overview 2022 By Type, Technological Advancements And Forecast To 2029 – The Bollywood Ticket
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Global medical writing market is expected to reach an estimated value of USD 3.85 billion by 2026, registering a healthy CAGR during the forecast period 2019-2026. Growing demand for drug information and growing demand for preparing draft new patents.
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Global Medical Writing Market by Type (Clinical, Regulatory, Scientific, Others), Application (Medical Journalism, Medical Education, Medical Marketing, Others), End User (Pharmaceutical and Biotech Companies, Contract Research Organizations), Geography (Americas North, South America). America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecasts to 2026
The global medical writing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical writing market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition: Global Medical Writing Market
Medical writing is a process that consists of information related to the drug advancement process, safety and regulatory information, and other information related to research methodologies. These documents are usually written by medical writers who ensure that they contain information related to product usage, research results and other information. They are widely used in applications for project management, pharmacovigilance, clinical data management, etc.
Main market competitors:
Few of the major competitors currently working in the global medical writing market are Parexel International Corporation., Trilogy Writing & Consulting GmbH, Freyr, CACTUS Communications, Covance Inc, IQVIA., OMICS International, Certara, SIRO Clinpharm, Quanticate, InClin, Inc. . , Intertek Group plc, ICON plc, Cardinal Health., MakroCare., IF Medical Writing SASU, InfocusRx, inc., APCER Life Sciences, Inc., Pearl Pathways, LLC., Insight Medical Writing., SGS SA and others
- The growth of the pharmaceutical industry is driving the growth of this market
- Rising number of expiring patents is another factor driving the growth of the market
- Rising prevalence of non-essential activities is driving the market
- The increase in R&D investments in medical writing is a growth factor in this market.
- The high cost of attrition is holding back the growth of this market
- Lack of skilled and trained professionals is another factor that is restraining the growth of this market
- Incompetence in technical writing is another factor restraining the growth of the market.
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Segmentation: global medical writing market
- medical journalism
- Medical education
- Medical Marketing
Per end user
- Pharmaceutical and biotechnology companies
- Contract research organizations
Key Market Developments:
- In April 2019, Whitsell Innovations, Inc. announced that it had acquired Pharmakey, LLC so that it could expand its planned consulting services and comprehensive electronic submissions. The main objective is to meet the business need and requirement for regulatory decision making and meaningful writing
- In August 2018, Syneos Health, Inc announced that it had acquired Kinapse, which will help the company expand its safety, regulatory and pharmacovigilance consulting and operations. It will also help the company strengthen its medical writing, clinical trial transparency, quality operations and R&D consulting capabilities by providing high value-added solutions to customers.
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Reasons to buy this report
- Current and future prospects of the global medical writing market in both developed and emerging markets
- The segment that is expected to dominate the market as well as the segment that holds the highest CAGR during the forecast period
- Regions/countries expected to experience the fastest growth rates during the forecast period
- The latest developments, market shares and strategies employed by major market players
- All segmentations provided above in this report are represented at country level
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