New York, United States , July 05, 2023 (GLOBE NEWSWIRE) -- The Global Medical Writing Market Size is to grow from USD 3.15 billion in 2022 to USD 7.95 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period.
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Medical writing is a specialized field that involves creating accurate and concise documents related to healthcare and medicine. It encompasses a variety of materials, such as scientific research papers, regulatory documents, clinical trial reports, and medical education content. Medical writers play a vital role in translating complex scientific information into accessible formats for various audiences, including healthcare professionals, patients, and regulatory authorities. They use their expertise to organize data, interpret research findings, and ensure compliance with regulatory guidelines. By providing clear and reliable medical information, medical writers contribute to the advancement of healthcare knowledge and improve patient care.
Report Coverage
This research report categorizes the market for medical writing market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the medical writing market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the medical writing market.
Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on, "Global Medical Writing Market Size, Share, and COVID-19 Impact Analysis, By Type (Clinical Writing, Regulatory Writing, Scientific Writing, and Others), By Application (Medical Journalism, Medical Education, Medico Marketing, and Others), By End-Use (Medical Device Companies, Pharmaceutical & Biotechnology Companies, Contract Research Organizations, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032". Get Detailed Report Description Here:
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The regulatory writing segment is expected to grow at a CAGR of around 9.8% during the forecast period.
Based on type, the global medical writing market is segmented into clinical writing, regulatory writing, scientific writing, and others. Regulatory writing is poised for significant growth in the forecast period within the medical writing market. There are several factors contributing to this projection due to increasing complexity of regulatory requirements and guidelines for drug approvals necessitates the expertise of regulatory medical writers to prepare accurate and compliant documents. The expanding global pharmaceutical and biotechnology industries are driving the need for regulatory writing services to navigate the regulatory landscape in various regions. Additionally, the growing emphasis on patient safety and the need for comprehensive risk-benefit assessments further fuel the demand for regulatory writing. Overall, the increasing adoption of digital submissions and electronic documentation systems in regulatory processes creates opportunities for regulatory medical writers to adapt to evolving technologies and provide their expertise in these domains.
The contract research organizations segment held the largest market share with more than 34.2% in 2022.
Based on end-use, the global medical writing market is segmented into medical device companies, pharmaceutical & biotechnology companies, contract research organizations, and others. The contract research organizations (CROs) segment has emerged as the dominant player in the medical writing market, holding the largest market share. This can be attributed to several factors due to the CROs serving as key partners in the drug development process, conducting clinical trials, and generating a significant amount of clinical data that requires medical writing support. The increasing outsourcing of research and development activities by pharmaceutical and biotechnology companies to CROs has boosted the demand for medical writing services within this segment. Additionally, the expertise and specialized knowledge of medical writers employed by CROs contribute to their dominance in the market.
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Asia-Pacific is predicted to grow at a significant CAGR of around 7.8% over the projected period.
Based on region, Asia-Pacific is expected to experience significant growth in the medical writing market during the forecast period. Several factors contribute to this growth due to rise in pharmaceutical and biotechnology investments, leading to increased clinical trials and research studies. This surge in activity creates a demand for medical writing services to support regulatory submissions and publication of research findings. The growing healthcare infrastructure, expanding pharmaceutical market, and increasing awareness of evidence-based medicine in Asia-Pacific countries are driving the need for accurate and localized medical writing. Additionally, the availability of a skilled workforce, including English-speaking medical writers, and cost advantages for outsourcing further contribute to the region's projected growth in the medical writing market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global medical writing market include Parexel International Corporation, Trilogy Writing & Consulting GmBH, Freyr, Cactus Communications, Labcorp Drug Development, IQVIA Holdings Inc., Omics International, Synchrogenix, Siro Clinpharm Private Limited, Quanticate, and Inclin, Inc.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global medical writing market based on the below-mentioned segments:
Medical Writing Market, By Type
- Clinical Writing
- Regulatory Writing
- Scientific Writing
- Others
Medical Writing Market, By Application
- Medical Journalism
- Medical Education
- Medico Marketing
- Others
Medical Writing Market, By End-Use
- Medical Device Companies
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
- Others
Medical Writing Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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