Medical writing is a process which consists of information related to drug advancement process, safety and regulatory information and other information related to the research methodologies. This documents is usually made by medical writer who make sure that it consist of information related to product use, research outcome and other information. They are widely used in applications in project management, pharmacovigilance, clinical data management etc.
Global medical writing market is expected to rise to an estimated value of USD 3.85 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. Rising demand for drug related information and increasing demand for preparation of drafts of new patents. Few of the major competitors currently working in the global medical writing market are Parexel International Corporation., Trilogy Writing & Consulting GmbH, Freyr, CACTUS Communications, Covance Inc, IQVIA., OMICS International, Certara, SIRO Clinpharm, Quanticate, InClin, Inc., Intertek Group plc, ICON plc, Cardinal Health., MakroCare., IF Medical Writing SASU, InfocusRx, inc., APCER Life Sciences, Inc., Pearl Pathways, LLC., Insight Medical Writing., SGS SA and others
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Global medical writing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical writing market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Developments in the Market:
- In April 2019, Whitsell Innovations, Inc. announced that they have acquired Pharmakey, LLC so that they can expand their planned consulting services and full electronic submissions. The main aim is to meet the need and requirement of the company for regulatory decision-making and significant writing
- In August 2018, Syneos Health, Inc announced that they have acquired Kinapse which will help the company to expand their safety, regulatory and pharmacovigilance consulting and operations. It will also help the company to strengthen their medical writing, clinical trial transparency, quality operations and consulting capabilities in the areas of R&D providing high value solutions to the customers
Global Medical Writing Market By Type (Clinical, Regulatory, Scientific, Others), Application (Medical Journalism, Medical Education, Medico Marketing, Others), End- User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
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- Growth in the pharmaceutical industry is driving the growth of this market
- Rising number of patents expiring is another factor driving the market growth
- Increasing prevalence for non- core activities is driving market
- Rising R&D investment in medical writing is factor driving the growth of this market.
- High attrition cost is restraining the growth of this market
- Lack of skilled and trained professional is another factor restraining the growth of this market
- Incompetent technical writing skill is another factor restraining the market growth.
Segmentation: Global Medical Writing Market
- Medical Journalism
- Medical Education
- Medico Marketing
By End- User
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
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Reasons to Purchase this Report
- Current and future of global medical writing market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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