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.
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.
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.
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.
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- 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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