Medical Writing Market Supply Intelligence, Decision Making and Top Vendors: QVIA, Parexel, Covance, OMICS International and Freyr Solutions, 2027 Report | Grand View Research, Inc.

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The global medical writing market was valued at approximately USD 4 billion in 2020 and it is projected to grow at a CAGR of 10% from 2020 to 2027 owing to growing research and development activities in the healthcare industry.

Sourcing prospects

Medical writing involves creating structured scientific papers including clinical research papers, content for healthcare websites, health magazines, journals, news, etc. Here are the main categories of medical writing:

  • Regulatory: This involves writing and editing documents required by regulatory agencies such as the US FDA, as part of the approval process for drugs, biological agents and medical devices.
  • Clinical: Clinical writing deals with patient education, public health communication, website content, medical/health news, and public relations/communications.
  • Scientific: In this type, medical writing professionals work with physicians and other researchers to write and edit manuscripts for peer-reviewed journals, posters, abstracts, and oral presentations for medical conferences.
  • Pedagogical: Educational writing consists of creating the various documents necessary for the development of educational activities for doctors and other health professionals.
  • Promotional: This writing is used to promote a drug, an intervention or a medical device.
  • Grantsmanship: In this writing, medical writing professionals write and edit grant proposals for funding scientific research.

Demand Outlook

The global medical writing market was valued at approximately USD 4 billion in 2020 and it is projected to grow at a CAGR of 10% from 2020 to 2027 owing to growing research and development activities in the healthcare industry. Clinical writing led global medical writing with over 40% market share, followed by regulatory writing and scientific writing. North America is the leading geographic segment of the global medical writing market with over 30% market share due to the high quality medical writing required for any FDA submission. APAC is expected to witness the highest growth rate over the forecast period owing to the emergence of CROs and the growing focus on the regulatory aspects of medical submission.

Cost Drivers

The rate of medical writing professionals is the biggest cost driver of medical writing services. The rate depends on the combination of two parameters; type of project and time. Both parameters have similar weightings and depending on the needs of the clients, medical writing professionals change the weighting accordingly. The rate of medical writing is significantly lower in APAC countries like India. Therefore, many global healthcare and pharmaceutical companies outsource their medical writing services to APAC to reduce costs and increase profitability.

Grab your copy or request a free sample of the “Medical Writing Market Sourcing Intelligence Report, Published by Grand View Research” for in-depth details on vendor ranking and selection, sourcing and pricing criteria and strategies.

Additional services provided by Grand View Research Pipeline:

Cost analysis

Breakdown of costs by components for better negotiation for the customer, highlights the main cost drivers in the market with future price fluctuations for different materials (eg: steel, aluminum, etc.) used in the production process

Comparative rate analysis

Provide cost transparency for the different products/services purchased by the customer. A typical report involves 2-3 case scenarios helping clients select the best fit engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for a specific skill set in order to make a decision on outsourcing versus in-house.

Supplier Newsletter

A typical newsletter study capturing the latest information for specific vendors related to: mergers and acquisitions, technological innovations, expansion, litigation, bankruptcy, etc.

Introducing Pipeline by Grand View Research:

A smart and efficient supply chain is essential to the growth of any organization. Grand View Research’s Pipeline Division provides detailed insight into every aspect of the supply chain, which helps make effective sourcing decisions.

Our services include (but are not limited to):

  • Market intelligence involving – market size and forecast, growth factors and driving trends
  • Price and Cost Intelligence – pricing models adopted for the category, total cost of ownership
  • Supplier Intelligence – rich insight into the supplier landscape
  • pe, and identifies vendors that dominate, emerge, linger and specialize
  • Sourcing / Procurement Intelligence – best practices followed in the industry, identification of standard KPIs and SLAs, peer analysis, negotiation strategies to be used with best-suited suppliers and countries for sourcing to minimize chain disruptions supply

Browse Grand View Research’s collection of procurement intelligence studies:

  • Legal Process Outsourcing Market Procurement Intelligence – The global legal process outsourcing (LPO) market is expected to grow sustainably, growing at a CAGR of over 31% from 2020 to 2025, as large corporations particularly outsource their non-core business activities to third-party service providers to focus more on their core business while saving the costs of employing an in-house legal team.

  • Patient Engagement Solutions Market Supply Intelligence – The global patient engagement solutions market is expected to witness sustainable growth (CAGR of 21%) from 2020 to 2025, primarily driven by the rapid penetration of mobile health applications and platforms in the healthcare industry, associated with the provision of uninterrupted and fast Internet access using 3G and 4G networks.

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Scott R. Banks