Dallas, Texas, Dec. 18, 2020 (GLOBE NEWSWIRE) -- The “Global Medical Affairs Outsourcing Market Size 2020, By Service (Medical Writing & Publishing, Medical Monitoring, Medical Science Liaisons, Medical Information, Others) Industry (Pharmaceutical, Biopharmaceutical, Medical Devices) Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) and Forecast 2021 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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Adroit Market Research report on global medical affairs outsourcing market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global medical affairs outsourcing market have been studied in detail.
The global medical affairs outsourcing market is projected to reach USD 4.37 billion by 2028, growing at a CAGR of 10.9%. Increasing number of clinical trials and inclination of life science companies to manage product life cycles effectively while saving cost is driving the global medical affairs outsourcing market.
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During the past 20 years, the decision to hire contract service providers was driven in large part by the need to employ a variable head count to support peak periods of drug development activity. Lately, many pharmaceutical and biotechnology companies have experienced enormous downsizing and consolidation, in part due to global economic conditions. As a result of downsizing and other cost-saving measures, pharmaceutical and biotechnology companies are turning to outsourcing to supplement or replace critical functional support that is no longer available internally
The global medical affairs outsourcing market is categorized based on service and industry. On the basis of service, the market is segmented into medical writing & publishing, medical monitoring, medical science liaisons, medical information, and others. The medical writing & publishing segment dominated the market in 2019, while the medical science liaisons is expected to grow at a highest CAGR over the forecast period.
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North America dominated the market for medical affairs outsourcing in 2019, while Asia Pacific is anticipated to grow at a highest CAGR owing to increasing contract research organizations. Key players of the global medical affairs outsourcing market include ICON plc, The Medical Affairs Company (TMAC), IQVIA Holdings Inc., Syneos Health Inc., Ashfield Healthcare Communications, Pharmaceutical Product Development, LLC., ZEINCRO Group, SGS SA, Wuxi Clinical Development, Inc., Indegene Inc. among others.
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Major Points from Table of Contents:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Outlook
5. Medical Affairs Outsourcing Market by Service, 2018-2028 (USD Billion)
6. Medical Affairs Outsourcing Market by Industry, 2018-2028 (USD Billion)
7. Medical Affairs Outsourcing Market by Region, 2018-2028 (USD Billion)
8. Competitive Landscape
9. Company Profiles
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Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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