Healthcare Regulatory Affairs Outsourcing Market To Accrue Huge Gains Worth USD 12.14 Bn By 2028

06-Jan-2022 | Zion Market Research

According to findings of Zion Market Research, Healthcare Regulatory Affairs Outsourcing industry amassed returns worth nearly US$ 5.23 billion in 2020 and is set to register profits of approximately US$ 12.14 billion by 2028. Moreover, Healthcare Regulatory Affairs Outsourcing market is slated to register CAGR of almost 5.5% in 2021-2028. Furthermore, expansion of healthcare regulatory affairs outsourcing market over assessment period can be credited to rise in chronic disorders and huge costs related to research activities. In addition to this, surge in new drug approval time and increase in medical device costs will spur market trends. Apparently, tedious documentation and need for saving time & focusing on core operations has forced firms to outsource healthcare regulatory affairs to third parties, thereby expediting growth of healthcare regulatory affairs outsourcing industry. However, data security concerns can create hurdles in growth path of healthcare regulatory affairs outsourcing market.

Clinical Trial Applications & Services Registrations To Dominate Services Segment By 2028

Surge in expansion of clinical trial applications & services registrations segment over forecast timeline is subject to rise in outsourcing of clinical trial applications & services in both developed & developing countries. Furthermore, these kinds of services have resulted into huge demand from mid-sized firms, pharmaceutical firms, medical equipment manufacturers, food & beverage firms, and biotech firms.

Biotechnology Companies Segment To Contribute Huge Market Share Over 2021-2028

Growth of biotechnology companies segment over assessment period is owing to substantial demand for healthcare regulatory affairs outsourcing solutions in biotechnology sector. Need for quick new drug approval and avoid tedious process of documentation related to healthcare regulations affairs will accelerate demand for healthcare regulatory affairs outsourcing activities in biotech sector.

Asia Pacific Market To Record Double Digit CAGR Over Forecast Timespan

Rapid expansion of healthcare regulatory affairs outsourcing market in Asia Pacific over forecast timespan can be attributed to easy access to skilled workforce at reduced wages. In addition to this, rise in number of clinical tests in pharmaceutical firms based in India and China will proliferate regional market size. Moreover, giant pharmaceutical companies are shifting their base in Asian countries, namely, India, Japan, Taiwan, China, Singapore, and Thailand. Moreover, these moves require documentation of healthcare regulatory activities along with product registrations & clinical trials applications and this will create huge demand for outsourcing healthcare regulatory affairs, thereby driving regional market growth.

Some of key players have strongly influenced market growth and will continue to do so in foreseeable future. We have included these players in case study format in our report and they are Accell Clinical Research, LLC, Criterium, Inc., Medpace, Inc., Freyr Solutions, Wuxi AppTec, Labcorp Drug Development, PRA Health Sciences, Inc., Promedica International, PARAXEL International Corporation, and Quintiles IMS Holdings, Inc.

Browse the full "Healthcare Regulatory Affairs Outsourcing Market- By Services (Regulatory Writing & Publishing, Clinical Trial Applications & Services Registrations, Regulatory Consulting & Legal Representation, And Regulatory Submissions), By End-User (Mid-Size Pharmaceutical Companies, Large Pharmaceutical Companies, Biotechnology Companies, Medical Device Companies, And Food & Beverage Companies), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028" Report At https://www.zionmarketresearch.com/report/healthcare-regulatory-affairs-outsourcing-market

The global Healthcare Regulatory Affairs Outsourcing Market is segmented as follows:

By Services

  • Regulatory Writing &  Publishing
  • Regulatory Submissions
  • Clinical Trial Applications & Services Registrations
  • Regulatory Consulting & Legal Representation

By End-User

  • Mid-Size Pharmaceutical Companies
  • Large Pharmaceutical Companies  
  • Biotechnology Companies
  • Medical Device Companies
  • Food & Beverage Companies

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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