The new report by Expert Market Research titled, ‘Global Medical Writing Market Size, Share, Price, Demand, Report and Forecast 2021-2026’, gives an in-depth analysis of the global medical writing market, assessing the market based on its segments like type, application, end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 1.9 billion
- Forecast CAGR (2021-2026): 10.4%
The demand for clinical write-ups in the pharmaceutical industry has risen significantly, mainly due to growing consumer awareness of health issues and stringent government regulations, which is helping the worldwide 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 disease or drug-related instructional and promotional literature, in order to communicate data in a well-structured manner.
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The industry is divided based on its type as:
- Clinical writing
- Regulatory writing
- Scientific writing
- Others
The market is segmented based on its application into:
- Medical journalism
- Medical education
- Medico marketing
On the basis of its end-use, the industry is broadly categorised into:
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations (CROS)
The regional medical writing markets include:
- North America
- Latin America
- The Middle East
- Africa
- Europe
- The Asia Pacific
Market Trends
The medical writing market is experiencing strong growth as customers become more concerned about their health as a result of the increase of regulatory, safety, and publication records, as well as instructional and communication materials related to health and healthcare products. Pharmaceutical medical writing has grown tremendously, especially in emerging nations, propelling the worldwide medical writing sector forward.
Furthermore, developing countries such as China and India support the expansion of the medical writing sector by creating a favourable environment for clinical trials. Due to the presence of a big population and expanded clinical research operations in the region, the countries have emerged as viable marketplaces. The demand for medical writing has risen as a result of the continual research and creation of new pharmaceuticals.
However, the business confronts challenges such as a scarcity of professional writers with technical writing skills, a dearth of domain expertise, and a lack of standardised training programmes and quality assessment instruments, all of which could stymie industry expansion throughout the projection period.
Key Market Players
The major players in the market are 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 the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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