The report from The Insight Partners lists several stakeholders--including pharmaceutical and biotech companies, CROs, regulatory authorities, healthcare providers, and academic institutions--along with valuable insights on navigating the evolving market landscape and unlocking new opportunities successfully.
NEW YORK, Dec. 13, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, global medical writing market [https://www.theinsightpartners.com/reports/medical-writing-market/?utm_source=PRNewsWire&utm_medium=10370] is expected to reach US$ 9.09 billion by 2031 from US$ 3.44 billion in 2021; it is anticipated to record a CAGR of 10.2% during the forecast period. Medical writing is the creation of scientific documents that communicate medical, clinical, and healthcare information clearly and accurately. It involves preparing documents for regulatory submissions, clinical trial protocols, scientific publications, medical device documentation, and educational materials.
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The medical writing market is growing owing to the expansion of the pharmaceutical, biotechnology, and medical device industries, along with an increase in clinical trials and drug development. Moreover, the growing emphasis on personalized medicine, stricter regulatory requirements, and globalization of healthcare are expected to favor market growth in the coming years.
Market leaders and key company profiles
-- Cactus Communications
-- Certara
-- Covance
-- Freyr Solutions
-- InClin Inc
-- Parexel International Corporation
-- Quanticate
-- SIRO Clinpharm Private Limited
-- Synchrogenix
-- Trilogy Writing and Consulting GmbH
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Overview of Report Findings
1. Expansion of Pharmaceutical and Biotech Industries: As pharmaceutical and
biotechnology sectors continue to innovate and develop drugs, therapies,
and technologies, the demand for high-quality and precise documentation
has surged. The growth is largely attributed to the increasing regulatory
requirements, clinical trials, and research outputs that require detailed
and well-structured documents such as clinical study reports, regulatory
submission documents, and scientific publications. With the rapid
development of mRNA vaccines, pharmaceutical companies, such as Pfizer
and Moderna, have faced increased needs for medical writing expertise to
ensure compliance and accuracy in regulatory filings and publications.
Additionally, the increasing number of biotechnology startups has created
a greater demand for outsourcing medical writing services to handle
complex scientific data effectively. Thus, the expansion of the
pharmaceutical and biotechnology industries drives the market.
2. Expansion of Clinical Trials: With the increasing number of global
clinical trials, especially in emerging fields such as oncology, rare
diseases, and personalized medicines, there is a higher demand for
medical writers to prepare essential documents, such as trial protocols,
clinical study reports, investigator brochures, and patient consent
forms. Additionally, the rise of decentralized and virtual clinical
trials increases the complexity of documentation, requiring medical
writers to adapt to new formats and regulatory standards. The growing
clinical trials presents opportunities for medical writers to support
sponsors and contract research organizations in ensuring regulatory
compliance, accuracy, and clarity in the documentation of clinical trial
data. The expansion of clinical trials provides significant opportunities
in the medical writing industry as the need for precise documentation of
trial processes and outcomes becomes critical.
3. Geographical Insights: In 2021, North America led the medical writing
market with a substantial revenue share, followed by Europe and APAC,
respectively. Further, Asia Pacific is expected to register the highest
CAGR during the forecast period.
Report Attributes Details Market Size in 2021 US$ 3.44 Billion Market Size by 2031 US$ 9.09 Billion CAGR 10.2 % Base Year 2023 Forecast Period 2024-2031 Historical Data 2021-2022 Key Regional Coverage North America (US, Canada, Mexico), Europe -[UK, Germany, France, Russia, Italy, Rest of Europe] Asia-Pacific - [China, India, Japan, Australia, Rest of Asia-Pacific] South and Central America [Brazil, Argentina, Rest of South and Central America] Middle East and Africa [South Africa, Saudi Arabia, UAE and Rest of Middle East and Africa]
Market Segmentation
-- Based on type, the medical writing market is segmented into clinical
writing, regulatory writing, and scientific writing. The clinical
writing segment held the largest share of the market in 2021.
-- By application, the medical writing market is categorized into medical
journalism, medical education, and medico marketing. The medical
education segment accounted for the largest share of the market in 2021.
-- In terms of end users, the medical writing market is bifurcated into
pharmaceutical and biotechnology companies and contract research
organizations (CROs). The pharmaceutical and biotechnology companies
segment led the market in 2021.
-- The medical writing market is segmented into five major regions: North
America, Europe, Asia Pacific, Middle East and Africa, and South and
Central America.
Segments Covered -
By Type
-- Clinical Writing
-- Regulatory Writing
-- Scientific Writing
By Application
-- Medical Journalism
-- Medical Education
-- Medico Marketing
By End User
-- Pharmaceutical and Biotechnology Companies
-- Contract Research Organizations
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Competitive Strategy and Development
-- Trending Topics: Regulatory writing for gene therapies and mRNA
Vaccines, decentralized and virtual clinical trials, patient-centric
documentation, and artificial intelligence in medical writing, among
others.
Global Headlines on Medical Writing Market
-- PPD Completes Evidera Acquisition, Strengthens Leadership in Real-World
Research
-- Cognizant and Yseop Announced a Plan to Partner to Scale Medical Writing
through Generative AI
Regional Analysis -
-- The Asia Pacific medical writing market is expected to reach US$
983.51million in 2027 from US$ 560.59million in 2019. The market is
estimated to grow with a CAGR of 7.3% from 2020-2027. The growth of this
market is estimated to grow owing to key driving factors such as an
increased number of market players and an immense government support in
the healthcare sector.
-- The North America medical writing market is expected to reach US$
1,266.23million in 2027 from US$ 732.95million in 2019. The market is
estimated to grow with a CAGR of 7.1% from 2020-2027. The growth of this
market is estimated to grow owing to key driving factors such as
increased requirement of medical writers due to stringent regulatory
framework and robust growth in clinical trials.
-- The Europe medical writing market is expected to reach US$
1,114.92million in 2027 from US$ 655.84million in 2019. The market is
estimated to grow with a CAGR of 6.9% from 2020-2027. The growth of this
market is estimated to grow owing to key driving factors such as an
increased number of clinical trials and an immense growth in the medical
device industry
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Conclusion
The medical writing market is experiencing robust growth, driven by healthcare advancements, regulatory demands, and the expansion of clinical research. With the increasing complexity of drug development, personalized medicine, and cutting-edge therapies such as gene and cell-based treatments, the demand for highly skilled medical writers is surging. The global expansion of clinical trials, the rise of real-world evidence, and the growing focus on patient-centric documentation are further contributing to new trends in the market. Additionally, the integration of digital health technologies and artificial intelligence is reshaping the way medical writers operate, creating new opportunities for efficiency and innovation. Moreover, as the pharmaceutical and biotech industries continue to evolve, medical writing is anticipated to remain a crucial element in ensuring clarity, accuracy, and regulatory compliance in scientific communication, thereby fueling market expansion.
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