Global Medical Writing Market Size By Type (Clinical, Scientific, Regulatory), By Application (Medical Education, Medical Journalism, Medico Marketing), By End-User (Pharmaceutical Companies, CROs), By Geographic Scope And Forecast
Published on: 2024-08-07 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Medical Writing Market Size By Type (Clinical, Scientific, Regulatory), By Application (Medical Education, Medical Journalism, Medico Marketing), By End-User (Pharmaceutical Companies, CROs), By Geographic Scope And Forecast
Medical Writing Market Size and Forecast
Medical Writing Market size was valued at USD 4.50 Billion in 2024 and is projected to reach USD 9.67 Million by 2031, growing at a CAGR of 11.05% from 2024 to 2031.
- Medical writing is the process of expressing scientific research and medical information in a straightforward, brief, and understandable manner.
- It entails writing and editing a wide range of publications, such as research papers, regulatory paperwork, clinical trial protocols, patient education materials, and marketing materials for pharmaceutical corporations.
- Medical writing is mostly used for regulatory purposes such as drug and device approvals, clinical trials, scientific communication of research findings, and marketing of medical products and services.
Global Medical Writing Market Dynamics
The key market dynamics that are shaping the medical writing market include
Key Market Drivers
- Increasing number of Clinical Trials The expanding number of clinical trials worldwide is a major driver of the medical writing market. As of July 2024, ClinicalTrials.gov reports that over 450,000 studies have been registered in all 50 states and 220 countries. According to the FDA, the number of Investigational New Drug (IND) applications has continuously increased over the last decade, with an annual growth rate of 7%. This increase in clinical trials needs significant paperwork, protocols, and reports, which fuels the demand for medical writing services.
- Rising Prevalence of Chronic Diseases The growing prevalence of chronic diseases globally is driving demand for medical documentation and patient education tools. According to the World Health Organization (WHO), chronic diseases account for 71% of all deaths worldwide, with cardiovascular disease, cancer, respiratory disease, and diabetes being the primary causes. For example, the International Diabetes Federation projects that 537 million adults had diabetes in 2021, with that figure expected to climb to 783 million by 2045. This development is driving an increasing demand for medical writing to support research, treatment guidelines, and patient education.
- Growing Pharmaceutical and Biotechnology IndustryThe growth of the pharmaceutical and biotechnology industries is a major driver of the medical writing market. The Pharmaceutical Research and Manufacturers of America (PhRMA) estimates that the biopharmaceutical industry invested $102.3 billion in R&D in 2021. The FDA authorized 50 new medications in 2021, maintaining its high approval rate. This sector growth requires a wide spectrum of medical writing services, including regulatory filings, research papers, and marketing materials.
Key Challenges
- High Technical Nature Medical writing’s highly technical character presents a challenge, requiring a thorough comprehension of complicated scientific and medical concepts. Writers without a solid scientific background struggle to write high-quality information, resulting in mistakes or misinterpretations. This requirement for specialized expertise reduces the pool of qualified medical writers, making it harder for businesses to recruit experienced workers who match the industry’s stringent requirements.
- Fierce Competitive Landscape The medical writing market is highly competitive, with many freelance writers and firms providing identical services. This saturation pulls costs down and puts more pressure on writers and businesses to differentiate themselves. As a result, maintaining profitability becomes difficult, especially for smaller agencies that lack the means to effectively compete with larger firms with established reputations and extensive client networks.
Key Trends
- Increasing Demand for Regulatory Writing The regulatory writing industry is predicted to increase significantly, driven by the increasing number of medicinal approvals and the necessity for precise documentation throughout the product development cycle. Strict requirements set by health authorities necessitate significant paperwork, increasing demand for regulated medical writing services.
- Shift Towards Outsourcing Medical Writing Pharmaceutical and biotechnology industries are increasingly outsourcing their medical writing needs to specialized service providers. Outsourcing provides advantages such as access to a pool of qualified medical writers, cost-effectiveness, and flexibility in task management. This trend enables businesses to focus on their core strengths while maintaining high-quality medical writing.
- Growing Importance of Medical Journalism Medical journalism investigates, reports, and communicates health issues to a large audience. The expanding relevance of health information, combined with rapid advances in medicine, has created a demand for writers who can effectively express health-related material.
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Global Medical Writing Market Regional Analysis
Here is a more detailed regional analysis of the medical writing market
North America
- According to Market Research, North America is estimated to dominate the medical writing market over the forecast period. North America, notably the United States, has a large number of pharmaceutical and biotechnology companies, which drives up demand for medical writing services. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), the US biopharmaceutical industry directly employs over 800,000 people and supports 4.7 million jobs throughout the economy. According to the U.S. Food and Drug Administration (FDA), 55 innovative medications were approved in 2023, keeping the approval rate high. This high level of industry activity needs considerable medical writing for regulatory submissions, clinical trial paperwork, and marketing materials.
- Furthermore, the complicated and strict regulatory landscape in North America, especially in the United States, fuels the demand for specialized medical writing services. The FDA received 7,194 Investigational New Drug (IND) applications in fiscal year 2022, representing a 6% increase over the previous year. In addition, the FDA’s Center for Drug Evaluation and Research (CDER) received 140 new drug applications (NDAs) and biologics license applications (BLAs) in 2022. This regulatory activity necessitates considerable documentation, such as clinical trial reports, regulatory submissions, and safety reports, which benefits the regional medical writing market.
Asia Pacific
- The Asia Pacific region is estimated to exhibit the highest growth during the forecast period. The Asia Pacific region is experiencing considerable growth in clinical trials, which is boosting demand for medical writing services. According to ClinicalTrials.gov, China has over 80,000 registered clinical studies by 2024, second only to the United States. According to the Japan Pharmaceutical Manufacturers Association, Japan’s clinical trial industry will expand by 8.2% in 2023. This increase in clinical research activities is driving up demand for protocol writing, clinical study reports, and regulatory submissions, thereby strengthening the region’s medical writing market.
- Furthermore, the increased incidence of chronic diseases in Asia Pacific is a major driver of the medical writing market. According to the World Health Organization’s Western Pacific Region office, noncommunicable diseases (NCDs) account for 89% of all fatalities in the region. According to the International Diabetes Federation, 206 million adults in the Western Pacific region, which includes much of Asia, had diabetes in 2021, with that figure expected to rise to 260 million by 2045. This high disease load needs significant medical documentation, patient education materials, and research papers, which are driving the region’s medical writing market.
Europe
- Europe region is estimated to exhibit substantial growth during the forecast period. Europe’s tight regulatory environment in the pharmaceutical and medical device industries is a major driver of the medical writing market. According to the European Medications Agency (EMA), 89 medications, including 41 new active ingredients, were proposed for marketing authorization in 2023. The enormous volume of approvals, along with the sophisticated documentation required by the EU’s regulatory framework, creates a demand for professional medical writers. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), the pharmaceutical industry invests around €39 billion per year on research and development in Europe, needing extensive paperwork and regulatory submissions.
- Furthermore, the clinical trial market in Europe is expanding rapidly, which is benefiting medical writers. According to the European Clinical Trials Register, the EU/EEA will have over 42,000 registered clinical trials by 2024. According to the European Commission, the EU’s Clinical Trials Regulation, which came into effect in January 2022, aims to streamline the assessment and supervision processes for clinical trials across the EU, potentially increasing the number of trials done there. The increase in clinical research activities is driving up the demand for protocol drafting, clinical study reports, and other trial-related paperwork.
Global Medical Writing MarketSegmentation Analysis
The Global Medical Writing Market is segmented based on Type, Application, End-User, and Geography.
Medical Writing Market, By Type
- Clinical Writing
- Scientific Writing
- Regulatory Writing
- Others
Based on Type, the Medical Writing Market is segmented into Clinical Writing, Scientific Writing, Regulatory Writing, and Others. The clinical writing segment is estimated to dominate the medical writing market due to the vital role clinical writing plays in the drug development process, which includes the creation of critical documents such as clinical research protocols and trial reports. The growing global number of clinical trials, along with severe regulatory documentation requirements, strengthens clinical writing’s position as the market leadership.
Medical Writing Market, By Application
- Medical Education
- Medical Journalism
- Medico Marketing
- Others
Based on Application, the Medical Writing Market is segmented into Medical Education, Medical Journalism, Medico Marketing, and Others. The medical journalism segment is estimated to dominate the medical writing market. This dominance is driven by the public’s growing desire for accurate and easily accessible health information. As health issues gain traction, medical journalists play an important role in translating complex medical concepts into digestible articles for non-experts. The rise of digital platforms has increased the demand for accurate medical journalism, cementing its position as the market’s highest application.
Medical Writing Market, By End-User
- Pharmaceutical Companies
- CROs
- Others
Based on End-User, the Medical Writing Market is divided into Pharmaceutical Companies, CROs, and Others. The contract research organizations (CROs) segment is estimated to dominate the market over the forecast period. Pharmaceutical and biotechnology businesses are increasingly outsourcing clinical trials and regulatory writing services to CROs, which is driving this dominance. Because these organizations specialize in handling complex clinical research processes, they require considerable medical writing support for documentation, submissions, and reporting, cementing their position as the market’s main end-user segment.
Medical Writing Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on Geography, the medical writing market is classified into North America, Europe, Asia Pacific, and the Rest of the World. North America is estimated to dominate during the forecasted period. The existence of significant pharmaceutical and biotechnology businesses, a strong focus on regulatory compliance, and a high demand for clinical trials all contribute to the region’s medical writing market growth. The United States makes a considerable contribution to the North American industry, with healthcare spending anticipated to exceed USD 6.0 trillion by 2027.
Key Players
The “Medical Writing Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Paraxel International, IQVIA, Laboratory Corporation of America Holdings, Icon Plc, Cardinal Health, Certara, Freyr Solutions, InClin, Inc., Indegene, InFocusRX, Makrocare, Nucleus Global, OMICS International, and Quanticate.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Medical Writing Market Recent Developments
- In January 2020, Nuvisan Pharma Services GmbH and Co KG (Germany), a leading CRO/CDMO, announced the acquisition of Inamed GmbH (Germany), a global Contract Research Organization.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
Study Period | 2021-2031 |
Base Year | 2024 |
Forecast Period | 2024-2031 |
Historical Period | 2021-2023 |
Unit | Value (USD Billion) |
Key Companies Profiled | Paraxel International, IQVIA, Laboratory Corporation of America Holdings, Icon Plc, Cardinal Health, Certara, Freyr Solutions, InClin, Inc., Indegene, InFocusRX, Makrocare, Nucleus Global, OMICS International, and Quanticate. |
Segments Covered | By Type, By Application, By End-User, and By Geography. |
Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the faste