Market Snapshot:
The Medical Affairs Company (TMAC) provides the biopharmaceutical, medical device, and diagnostics industries with outsourced field-based medical (MSLs, NEs, CSs) and medical communications (medical information call center, pharmacovigilance and medical writing) services. The pharmaceutical and medical device firms are outsourcing their medical affairs services in order to diverge their business activities and manage product life cycles.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Market Drivers
- Increasing number of clinical trials
- Cost efficiency and high level of quality offered by the CROs
Market Trend
- Medical sector is experiencing a high rate of product innovations
Restraints
- Stringent regulatory scenario
Opportunities
Emerging market in several regions
Medical Affairs Outsourcing Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Pharma and Biotech Products, Medical Devices and Others |
Services | Medical Writing & Publishing,Medical Monitoring,Medical Science Liaisons,Medical Information |
End user | Mid- Sized Pharmaceutical Companies,Biotechnology Companies,Others |
Players Covered in the Study are:
ICON plc (Ireland), IQVIA Holdings Inc. (United States), The Medical Affairs Company (TMAC) (United States), Syneos Health Inc. (United States), Pharmaceutical Product Development, LLC. (United States), Ashfield Healthcare Communications (UDG Healthcare) (Ireland), ZEINCRO Group (Greece), Wuxi Clinical Development, Inc. (United States), SGS SA (Switzerland) and Indegene Inc. (India)
Industry Insights:
In April 2019, Charles River Laboratories International, Inc. acquired Citoxlab, a non-clinical Contract Research Organization (CRO) offering regulated safety assessment services, medical device testing, and other services. The acquisition has expanded Charles' offerings and strengthened its market position as a CRO.
In May 2017, Rich Pharma, Inc., a developer of oncology therapies, selected IND 2 Results, LLC as a CRO to provide protocol development, medical writing, and regulatory consulting services for its clinical trials on treatment of Hodgkin's Lymphoma and Acute Myelocytic Leukemia.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Healthcare Industry, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
What can be explored with Medical Affairs Outsourcing study:
Where Medical Affairs Outsourcing industry stands in scaling its end use implementations
What concrete benefits would result from scaled initiatives by Players
Where Players should focus their investments cycle
Key success factors and recommendations for upscaling future growth.
Target Market / Country and Key Business Segments