Global Medical Affairs Outsourcing Market to Grow at 12.27% During 2024-2032, Fueled by Rising Number of Clinical Trials

December 19, 2022 | Healthcare

IMARC Group’s latest report, titledMedical Affairs Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032, finds that the global medical affairs outsourcing market is anticipated to exhibit a CAGR of 12.27% during 2024-2032. Medical affairs outsourcing is a process that provides patients, medical staff, and governmental organizations with detailed insights into healthcare policies, operations, and patient information. It offers affordable and flexible solutions for dealing with the common problems faced by the industry and allows original equipment manufacturers (OEMs) to optimally use healthcare resources, strategic management, and resource components. It is used by healthcare organizations to comply with the strict regulatory policies of various countries successfully. It aids in the development of new products and the evaluation of existing drug indications. As a result, medical affairs outsourcing finds extensive applications across pharmaceutical, biotechnology, and medical device companies to effectively complete the pre- and post-production stages and clinical trials of medical products.
 

Global Medical Affairs Outsourcing Market Trends:

The rising number of clinical trials due to the expanding geriatric population and the increasing prevalence of various communicable and non-communicable diseases represents the primary factor driving the market growth. Moreover, clinical trials help determine the safety standards and efficacy of therapeutic strategies, medications, and equipment. In line with this, the increasing development of new drugs and medical equipment is positively influencing market growth. Additionally, the surging adoption of orphan therapies to treat rare diseases and the advancement of medical education have augmented the product demand. Besides this, the shifting consumer preferences toward specialty drugs are promoting the uptake of medical affairs outsourcing to produce complex patient outcomes data related to specialized therapy areas, which in turn is propelling the market growth. Along with this, the rising inclination of several medical, pharmaceutical, biotechnological, medical device, and diagnostic organizations to outsource medical services and products in an effort to diversify their business operations and maintain the product life cycle is contributing to the market growth. Furthermore, the increasing need for customized medical affairs outsourcing in the biotherapeutics industry to reallocate resources and maximize commercial opportunities due to the rising number of medications in pipelines has catalyzed market growth. Other factors, including the escalating demand for professional medical writers, improving healthcare infrastructure, and rising partnerships among clinical research organizations, are also anticipated to create a favorable market outlook.
 

Market Summary:

  • Based on the services, the market has been divided into medical writing and publishing, medical monitoring, medical science liaisons (MSLs), medical information, and others. Currently, the medical writing and publishing segment dominates the market. 
  • On the basis of the end use industry, the market has been segmented into pharmaceutical, medical devices, and other companies, wherein pharmaceutical companies account for the largest market share. 
  • Region-wise, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Amongst these, North America holds the leading position in the market. 
  • The competitive landscape of the market has also been examined, with some of the key players being Inizio, Icon plc, IQVIA Inc., PPD, Inc. (Thermo Fisher Scientific Inc.), SGS S.A., Indegene Limited, Syneos Health, The Medical Affairs Company (Parexel International Corporation) and WuXi Clinical (WuXi AppTec). 

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Services, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Inizio, Icon plc, IQVIA Inc., PPD, Inc. (Thermo Fisher Scientific Inc.), SGS S.A., Indegene Limited, Syneos Health, The Medical Affairs Company (Parexel International Corporation) and WuXi Clinical (WuXi AppTec)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste 
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Medical Affairs Outsourcing Market to Grow at 12.27% During 2024-2032, Fueled by Rising Number of Clinical Trials
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More