Medical Affairs Outsourcing Market by Service (Medical Writing & Publishing, Medical Monitoring, and Others), End User (Pharmaceutical, Biopharmaceutical and Medical Devices) Geography - Global Industry Analysis, Opportunities and Forecast up to 2026

The global medical affairs outsourcing market size was valued at $1.40 billion in 2020, and is projected to reach $2.95 billion by 2026, growing at a CAGR of 13.2% during the forecast period.

• The medical affairs outsourcing market is expected to witness significant growth in the future due to cost efficiency and high level of quality offered by the Contract Research Organizations (CROs) and increasing number of clinical trials.

• Additionally, the rising demand for R&D activity is increasing leading to a rise in medical affairs assistance. This rising demand has caused various CROs to focus on their outsourcing and other operations.

• However, stringent regulatory scenario is restraining the market growth.

Purchasing a product or service from a third-party company or application is known as medical affairs outsourcing. Previously, it was primarily the responsibility of in-house sponsors to undertake this function. However, some Medical Affairs activities have been increasingly outsourced in recent years. Stakeholders from all parts of the healthcare system are always looking for better and more convenient information. Investors are weighing comparative effectiveness against the economic benefit of new and developing medicines in specific instances. Patients seeking information about diseases and available clinical trials and treatment options, as well as physicians, require reliable options. Pharmaceutical sponsors require data to determine where and how to deploy research and development capital, while patients seeking information about diseases and available clinical trials and treatment options demand reliable options.

By Service, the Medical Science Liaisons (MSLs) Segment is Projected to Show Strong Presence in the Global Market

The medical science liaisons segment is projected to strong presence in the global market during the forecast period. Medical science liaisons are experts in their fields who have received significant scientific training. They are professionals at conveying difficult medical information to a wide range of audiences. Because MSLs are mostly needed after a product launch, it is not cost-effective for pharmaceutical or medical device companies to keep them on staff, which is a primary driver driving the segment's growth. Pharmaceutical and medical device businesses are also likely to outsource MSL functions to CROs in large numbers over the forecast period to address limited and inconsistent training.

By Geography, North America Region Constitutes Mammoth Share with Medical Affairs Outsourcing Market

North America commanded a large share of the worldwide medical affairs outsourcing market, and this dominance is likely to continue during the forecast period. Some key factors contributing to this rise include the existence of global pharmaceutical and life sciences corporations, strong regulators such as the FDA, and hence the availability of a talent pool. However, in comparison to Asia Pacific, the high service value and geographical area may be a key barrier to regional expansion. The most important variables driving the development of the global regulatory affairs outsourcing market are the increasing number of patent expirations and the increasing expenditure on R&D activities.

List of the Key Players Profiled in the Market Include:
• Ashfield Healthcare Communications
• ICON plc
• Indegene, Inc
• IQVIA Holdings, Inc.
• Pharmaceutical Product Development, LLC
• SGS S.A.
• Syneos Health, Inc.
• The Medical Affairs Company
• Wuxi Clinical Development, Inc.
• Zeincro Group

What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Service:
• Medical Writing & Publishing
• Medical Monitoring
• Medical Science Liaisons (MSLs)
• Medical Information
• Other Services

Market by, End User:
• Pharmaceutical
• Biopharmaceutical
• Medical Devices

Market by, Geography:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview          
    1.1 Introduction      
    1.2 Research Objectives     
    1.3 Market Segmentation     
    1.4 Stakeholders      
    1.5 List of Acronyms       
            
2 Executive Summary          
            
3 Research Methodology         
    3.1 Identification of Data     
    3.2 Evaluation of Market Dynamics    
    3.3 Collaboration of Data     
    3.4 Verification and Analysis     
    3.5 Data Sources      
    3.6 Assumptions      
            
4 Market Dynamics          
    4.1 Market Drivers      
            4.1.1 Cost efficiency and high level of quality offered by the CROs
            4.1.2 Increasing number of clinical trials
    4.2 Market Restraints      
            4.2.1 Stringent regulatory scenario
    4.3 Impact of COVID-19 on Medical Affairs Outsourcing Market  
            
5 Porter's Five Force Analysis         
    5.1 Bargaining Power of Suppliers     
    5.2 Bargaining Power of Buyers     
    5.3 Threat of New Entrants     
    5.4 Threat of Substitutes     
    5.5 Competitive Rivalry in the Market    
            
6 Global Medical Affairs Outsourcing Market by, Service      
    6.1 Overview       
    6.2 Medical Writing & Publishing     
    6.3 Medical Monitoring      
    6.4 Medical Science Liaisons (MSLs)    
    6.5 Medical Information     
    6.6 Other Services      
            
7 Global Medical Affairs Outsourcing Market by, End User      
    7.1 Overview      
    7.2 Pharmaceutical      
    7.3 Biopharmaceutical      
    7.4 Medical Devices      
            7.4.1 Therapeutic Medical Devices
            7.4.2 Diagnostic Medical Devices
            
8 Global Medical Affairs Outsourcing Market by, Geography      
    8.1 Overview      
    8.2 North America      
    8.3 Europe       
    8.4 Asia Pacific      
    8.5 South America      
    8.6 Middle East & Africa     
            
9 Key Developments          
            
10 Company Profiling          
    10.1 Ashfield Healthcare Communications    
            10.1.1 Business Overview
            10.1.2 Product/Service Offering
            10.1.3 Financial Overview
            10.1.4 SWOT Analysis
            10.1.5 Key Activities
    10.2 ICON plc       
    10.3 Indegene, Inc      
    10.4 IQVIA Holdings, Inc.      
    10.5 Pharmaceutical Product Development, LLC   
    10.6 SGS S.A.       
    10.7 Syneos Health, Inc.      
    10.8 The Medical Affairs Company     
    10.9 Wuxi Clinical Development, Inc.    
    10.10 Zeincro Group