Medical Affairs Outsourcing Market (By Services: Medical Writing & Publishing, Medical Monitoring, Medical Science Liaisons, Medical Information; By End User: Mid- Sized Pharmaceutical Companies, Biotechnology Companies, Others; By Application: Pharma and Biotech Products, Medical Devices, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The global medical affairs outsourcing market size is expected to reach around US$ 2.65 Bn by 2026, growing at a CAGR of around 10.6% over the forecast period 2019 to 2026.

The medical affairs function is increasingly playing a more important role within today’s pharmaceutical, biotechnology, medical device, and diagnostic firms, what is more, the role of medical affairs activities are increasing each earlier and later across the lifecycle of a company’s product. This expanded role is essentially a result of active physicians want to be and stay additional clinically aware and educated regarding new treatment ideas and advances - on the leading edge.

Market Dynamics

Changes in reimbursement scenario and pricing pressure are expected to increase the adoption of cost-saving measures by the pharmaceutical and medical device companies this is anticipated to drive medical affairs outsourcing in countries like Asian countries and China. Pharmaceutical firms are outsourcing the medical affairs services to induce high-quality documents, manage the R&D value, and scale back investment prices to train the medical affairs team. The pharmaceutical and medical device firms are outsourcing their medical affairs services in order to diverge their business activities and manage product life cycles. In addition, contract analysis organizations offer price-efficient solutions and compliance with the health authority necessities, thereby propelling market growth. Several medical device and pharmaceutical companies are facing new competitive pressure, across the world. Pertinent problems like increased competition, differential drug pricing methods of individual nations, and geopolitical problems like Brexit have coerced firms to source their operations to regional companies. Additionally, the rising R&D expenses and therefore the pressure to curtail value is encouraging the regulative affairs outsourcing trend. Companies are implementing totally different operation models to source their regulative affairs operate on the idea of the kind and size of the company. In step with the survey conducted by Gens & Associates in 2016, over 80.0% of the surveyed firms declared that operational efficiency, value of the operation, and regulative affairs services because of the primary drivers for outsourcing.

By application, the Pharma and Biotech Products segment is expected to dominate the outsourcing market

The pharma and biotech products segment is anticipated to register the highest CAGR during the forecast period in the global market. The pharma and biotech products business is growing at a high rate in the total pharmaceutical market. The pharma and biotech products business is focusing on the core activities associated with drug development compared to non-core activities like medical affairs. To reduce expenditure and avail skilled medical affairs services, biopharma corporations are outsourcing these services to the contract analysis organizations

Based on services, the medical science liaisons is expected to dominate during the forecast period

On the basis of services, the medical affairs outsourcing market is segmented into medical writing & publishing, medical monitoring, medical science liaisons (MSLs), medical information, and others. Medical Science Liaisons has dominated the offering segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period. Medical Science Liaisons (MSLs) are medical specialists with advanced scientific coaching. They’re specialists in communicating advanced medical data to a variety of stakeholders. As MSLs are majorly required after the launch of the product, it’s not efficient for pharmaceutical or medical devices companies to stay MSLs on employees. Also, to overcome insufficient and non-uniform coaching, pharmaceutical & medical devices companies are expected to majorly source these MSLs activities to contract analysis organizations over the forecast amount.

The market research study on “Global Medical Affairs Outsourcing Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global medical affairs outsourcing market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global medical affairs outsourcing market, its market service, application, end user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global medical affairs outsourcing market size and volume, and segment markets by market service, application, end user, and geography along with the information on companies operating in the market. The medical affairs outsourcing market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

In 2018, North America dominated the regional market with a maximum market share

North America accounted for the high market share of the global medical affairs outsourcing market and the region is also expected to maintain its dominance over the forecast period. Some major factors contributing to this growth are, presence of worldwide pharmaceutical and life sciences firms, robust regulators like FDA and therefore the accessibility of talent pool can contribute to the overall growth. However, high service value compared to Asia Pacific and geographical area may be a major challenge moving the regional growth. The growing numbers of patent expirations with increasing expenditure of R&D activities are the most necessary factors influencing the event of the world regulatory affairs outsourcing market.

The key companies involved in the market include ICON plc, IQVIA Holdings Inc., The Medical Affairs Company (TMAC), Syneos Health Inc., Pharmaceutical Product Development, LLC., Ashfield Healthcare Communications, ZEINCRO Group, Wuxi Clinical Development, Inc., SGS SA, and Indegene Inc.

Market Segmentation

Market By Services

• Medical Writing & Publishing
• Medical Monitoring
• Medical Science Liaisons
• Medical Information

Market By End User

• Mid- Sized Pharmaceutical Companies
• Biotechnology Companies
• Others

Market By Application

• Pharma and Biotech Products
• Medical Devices
• Others

Market By Geography

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa