Medical Affairs Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Medical Affairs Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A3523
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Market Overview:

The global medical affairs outsourcing market is expected to exhibit a CAGR of 12.4% during 2022-2027. The growing geriatric population, rising prevalence of various chronic disorders, and increasing number of clinical trials represent some of the key factors driving the market.

Medical affairs outsourcing refers to a process that enables patients, healthcare professionals, and government bodies to gain deep insights into healthcare policies, operations, and patient data. It provides cost-effective and flexible solutions to address the prevalent issues faced by the business and allows original equipment manufacturers (OEMs) to utilize healthcare personnel resources, strategic management, and resource components optimally. Medical affairs outsourcing aids in launching new and innovative products and finding existing drug indications. It is consequently used by pharmaceutical, biotechnology, and medical device companies to successfully complete pre-production and post-production stages and clinical trials of medical products. At present, various healthcare organizations across the globe are relying on the medical affairs outsourcing process to comply successfully with stringent regulatory policies of several countries.

Medical Affairs Outsourcing Market Trends:

Presently, the increasing number of clinical trials around the world on account of the growing geriatric population and the rising prevalence of various communicable and non-communicable diseases represent one of the key factors positively influencing the market. Clinical trials help determine the safety standards and efficacy of a therapeutic strategy, drugs, and equipment. In addition, there is an increase in the development of new drugs and medical equipment. This, coupled with the advancement of medical education and the surging number of orphan therapies that are used to treat rare diseases, is currently catalyzing the demand for medical affairs outsourcing services worldwide. Apart from this, the rising healthcare costs and the focus of governments of various countries on improving healthcare infrastructure are creating a positive outlook for the market. Furthermore, the increasing inclination of numerous medical, pharmaceutical, biotechnological and medical devices and diagnostic companies towards outsourcing medical services and products to diverge the business activities and maintain the product life cycle, is offering a favorable market outlook. Additionally, shifting consumer preferences toward specialty drugs is promoting the use of medical affairs outsourcing to generate complex patient outcomes data associated with specialty therapy areas. Moreover, with the increasing number of medications in pipelines, there is a growing need for customized medical affairs outsourcing in biotherapeutics to re-deploy resources and maximize commercial opportunities, which is expected to propel the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global medical affairs outsourcing market report, along with forecasts at the global, regional, and country level from 2022-2027. Our report has categorized the market based on services and end use industry.

Services Insights:

  • Medical Writing and Publishing
  • Medical Monitoring
  • Medical Science Liaisons (MSLs)
  • Medical Information
  • Others
     

The report has also provided a detailed breakup and analysis of the medical affairs outsourcing market based on the services. This includes medical writing and publishing, medical monitoring, medical science liaisons (MSLs), medical information, and others. According to the report, medical writing and publishing segment accounted for the largest market share.

End Use Industry Insights:

  • Pharmaceutical Companies
  • Medical Devices Companies
  • Others
     

A detailed breakup and analysis of the medical affairs outsourcing market based on the end use industry has also been provided in the report. This includes pharmaceutical companies, medical devices companies, and others. According to the report, pharmaceutical companies accounted for the largest market share.

Regional Insights:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

The report has also provided a comprehensive analysis of all the major regional markets that include North America (The United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. According to the report, North America was the largest market for medical affairs outsourcing. Some of the factors driving the North America market included the existence of international life sciences and pharmaceutical companies, prevalence of various ailments and the consequently rising need for drug development in the region.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global medical affairs outsourcing market. Detailed profiles of all major companies have also been provided. Some of the companies covered include INIZIO Group, ICON Plc, Indegene Inc., IQVIA Holdings Inc., PPD Inc., SGS S.A., Syneos Health Inc., The Medical Affairs Company (Parexel International Corporation), Wuxi Clinical Development Inc., and Zeincro Group. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
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 Ashfield Healthcare Communications (UDG Healthcare Plc), ICON Plc, Indegene Inc., IQVIA Holdings Inc., PPD Inc., SGS S.A., Syneos Health Inc., The Medical Affairs Company (Parexel International Corporation), Wuxi Clinical and Zeincro Group
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)


Key Questions Answered in This Report:

  • How has the global medical affairs outsourcing market performed so far and how will it perform in the coming years?
  • What are the drivers, restraints, and opportunities in the global medical affairs outsourcing market?
  • What are the key regional markets?
  • Which countries represent the most attractive medical affairs outsourcing market?
  • What is the breakup of the market based on the services?
  • What is the breakup of the market based on the end use industry?
  • What is the competitive structure of the global medical affairs outsourcing market?
  • Who are the key players/companies in the global medical affairs outsourcing market?
     

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the medical affairs outsourcing market from 2016-2027.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global medical affairs outsourcing market.
  • The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the medical affairs outsourcing industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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.
Medical Affairs Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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