Expert Market Research’s new report titled, ‘Global Medical Writing Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global medical writing market, assessing the market based on its segments such as type, application, end use and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): $1.9 billion
- Forecast CAGR (2021-2026): 10.4%
The demand for clinical writings in the pharmaceutical industry has increased significantly, mainly due to growing consumer awareness of health issues and stringent government regulations, which is helping the global medical writing industry.
Industry definition and major segments
Medical writing is the process of creating and developing scientific publications, such as regulatory and research documents, as well as educational and promotional literature related to a disease or drug, to communicate data in a well-structured manner. .
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The industry is divided according to its type as follows:
The market is segmented based on application into:
Based on its end use, the industry is broadly categorized into:
- Pharmaceutical and biotechnology companies
- Contract Research Organizations (CROS)
Regional medical writing markets include:
- North America
- Latin America
- Middle East
- Asia Pacific
The medical writing market is experiencing strong growth as customers become more concerned about their health due to the increase in regulatory, safety and publication records, as well as health-related educational and communication materials and health products. Pharmaceutical medical writing has grown tremendously, especially in emerging countries, propelling the global medical writing industry forward. Additionally, developing countries like China and India are supporting the expansion of the medical writing industry by creating a favorable environment for clinical trials. Due to the presence of a large population and the expansion of clinical research operations in the region, the countries have become viable markets. The demand for medical writing has increased due to the continuous research and creation of new pharmaceutical products.
However, the company faces challenges such as a shortage of professional writers with technical writing skills, a lack of subject matter expertise, and a lack of standardized training programs and performance assessment instruments. quality, all of which could hinder the expansion of the industry throughout the projection period.
Main market players
Major market players include Triology Writing & Consultancy GmbH, Parexel International Corporation, Cactus Communications, Freyr Global Regulatory Solutions and Services, Covance Inc., Iqvia, Omics International, Synchrogenix, Siro Clinpharm Private Limited, Inclin, Inc and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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