According to the report, global demand for medical writing market was valued at approximately USD 2.03 Billion in 2018, and is expected to generate revenue of around USD 2.95 Billion by end of 2025, growing at a CAGR of around 5.6% between 2019 and 2025.
The report covers forecast and analysis for the medical writing market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the medical writing market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the medical writing market on a global as well as regional level.
In order to give the users of this report a comprehensive view on the medical writing market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Type and services segment is benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the medical writing market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new Type launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the medical writing market on global and regional basis.
Medical writing comprises the conception of documents for scientific purposes. Medical writing is required for regulatory documentation in biotechnology and pharmaceutical sectors.
Factors such as growing demand from healthcare and pharmaceutical communication industries, growing expiry of patents, and rising research and regulatory services will act as major driving factors in the growth of global medical writing market. Increasing research & development expenses will present an opportunity for the market players in the medical writing market. Nonetheless, insufficient technical writing abilities will restrict the growth of global medical writing market.
The global medical writing market has been split into type, application, end user, and region. Based on type, medical writing market has been segmented into scientific, regulatory, clinical, and others. The clinical segment accounted for the highest market share in 2018 owing to high demand from Clinical Research Organizations (CROs). The application segment has been divided into medico marketing, medical education, medical journalism, and others. Medical journalism accounted for the highest market share in 2018.
North America will be the leading region during the forecast period. U.S. accounted for the highest share in the North America region due to high requirement for medical writing in U.S. Europe is expected to be the next key market. Asia Pacific will develop at the highest growth rate. Latin America region will propagate at a noteworthy rate through the assessment time. Middle East & Africa will demonstrate positive progression in the projected years.
The report also includes detailed profiles of key players such as Parexel International Corp., IQVIA, Covance, Inc., Freyr Solutions, Trilogy Writing & Consulting GmBH, and OMICS International among others.
This report segments the Global Medical Writing Market as follows:
Global Medical Writing Market: By Type
Global Medical Writing Market: By Application
Global Medical Writing Market: By End User
Global Medical Writing Market: By Region