About Medical Writing
Medical Writings are basically documents containing data on clinical research, Content from health magazines, news, regulatory frameworks, drug compositions, etc. These documents are very well structured on the specific diseases or drugs or treatment. There exists majorly 2 types of medical writing which are Regulatory Medical Writings and Educational or Clinical Medical Writings. Medical Writings are also critical because of their inclusion in the drug development cycle. Thus the success at which the medical writings are able to convey the information regarding the drugs, the more will be the chances of success of Drugs in the Market. Geographically, North America is the Biggest Market because of the presence of high-profile regulatory bodies as well as multinational pharmaceutical and biotechnology companies in the region.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Medical Writing market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Medical Writing Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Medical Writing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Genesis Biotechnology Group LLC (United States), InClin, Inc. (United States), Certara, Inc. (United States), IQVIA Inc. (United States), Cardinal Health, Inc. (United States), HCL Technologies Limited (India), Parexel International (United States), PRA Health Sciences (India), PPD, Inc. (United States) and Medpace Holdings, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Trilogy Writing & Consulting GmbH (Germany), ICON plc (Ireland), OMICS International (India) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Medical Writing market by Type (Regulatory Medical Writing and Education Medical Writing), Application (Medical or Scientific Journalism and Medical Marketing) and Region.
On the basis of geography, the market of Medical Writing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Pharmaceutical and Biotechnological Companies will boost the Medical Writing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Medical Specialities , the sub-segment i.e. Neurosciences will boost the Medical Writing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Artificial Intelligence Assisted Medical Writing is an Emerging Trend
Market Growth Drivers:
Increasing Investments and Incentives for Research and Development, Advancement in Medical Science and Related Technology, Growing Number of Medical Science Professionals and Recent Covid Pandemic also has accelerated the Market
Challenges:
Proper Structuring of the Medical Writing Documents
Restraints:
High Cost of Research Studies limits the growth of Developing Countries in this Sector
Opportunities:
The Asia Pacific is expected to Emerge as a Major Pharmaceutical Hub in the coming years Especially in India and China
Market Leaders and their expansionary development strategies
In 2021, Certara, Inc., one of the market leaders in biosimulation has announced the completion of the acquisition of AUTHOR!, which is a provider of medical writing and analysis of clinical research-trial data. AUTHOR! also has significant experience in working with major regulatory bodies FDA and EMA. The acquisition will help Certara provide better services to its clients including acceleration of drug development cycle and regulatory body approval.
In 2021, Genesis Biotechnology Group, LLC, a United States-based consortium of vertically integrated medical companies announced the acquisition of STATKING Clinical Services which is a Clinical Research Organisation providing Clinical Trial Management, Medical Writing, Statistical Consulting among various other services. The acquisition will bolster Genesis Biotechnology’s clinical arm as CROs are increasingly becoming critical to drug discovery and development.
Key Target Audience
Medical Writing Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.