Dublin, April 21, 2021 (GLOBE NEWSWIRE) -- The "Medical Affairs Outsourcing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Services, Medical Information, and Others) and Application, and Geography" report has been added to ResearchAndMarkets.com's offering.
Medical Science Liaisons (MSLs) Segment to Grow at Highest CAGR During 2020-2027
Medical Affairs Outsourcing Market is expected to reach US$ 3,287.12 million by 2027 from US$ 1,415.00 million in 2019. It is estimated to grow at a CAGR of 11.2% from 2020 to 2027.
The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth. Factors such as increasing number of clinical trials and rising adoption of outsourcing activities coupled with increasing R&D expenditures across the world are driving the market growth. However, increasing costs of drug development and clinical trials hinder the market growth.
Based on services, the medical affairs outsourcing market is segmented into medical writing and publishing, medical science liaisons (MSLs), medical information, medical monitoring, and others. In 2019, the medical writing and publishing segment accounted for the largest share.
The market for the medical science liaisons (MSLs) segment is expected to grow at the fastest pace during the forecast period owing to the surging requirement of professional medical writing, publishing and service provision by small, mid-sized and giant healthcare companies. With the increasing number of companies entering the market and launching their products, the demand for medical writers have dramatically increased thereby leading to the market growth for the medical writing and publishing segment.
ICON PLC, IQVIA Inc, Syneos Health, WuXi AppTec, SGS SA, PPD Inc, Parexel Internation Corp, Indegene, Excelya, and UDG Healthcare plc are among the leading companies operating in the medical affairs outsourcing market.
The companies are adopting inorganic and organic growth strategies to expand their global footprints and product portfolio to meet the rising demands for the medical affairs outsourcing.
For instance, in January 2019, IQVIA announced the launch of a comprehensive multi-tenant (SaaS) safety platform for life sciences industry. For instance, Alderley Analytical, Almac, and among others are well-known manufacturing organizations offering a wide range of integrated services to more than 600 pharmaceutical and biotech companies.
Key Topics Covered:
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Medical Affairs Outsourcing Market - Key Takeaways
3. Research Methodology
4. Global Medical Affairs Outsourcing- Market Landscape
4.2 PEST Analysis
4.3 Expert Opinions
5. Global Medical Affairs Outsourcing Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Number of Clinical Trials Worldwide
5.1.2 Rise in Adoption of Outsourcing Activities Coupled with Increasing R&D Expenditures
5.2 Market Restraints
5.2.1 Increasing Costs of Drug Development and Clinical Trials
5.3 Market Opportunities
5.3.1 Increasing Opportunities in Emerging Economies
5.4 Future Trends
5.4.1 Rising Market Consolidation
5.5 Impact Analysis of Drivers and Restraints
6. Medical Affairs Outsourcing Market - Global Analysis
6.1 Global Medical Affairs Outsourcing Market Revenue Forecast And Analysis
6.2 Global Medical Affairs Outsourcing Market, By Geography - Forecast And Analysis
6.3 Market Positioning
7. Medical Affairs Outsourcing Market Analysis - By Services
7.2 Medical Affairs Outsourcing Market, by Services, Revenue and Forecast to 2027 (USD Million)
7.3 Medical Affairs Outsourcing Market Revenue Share, by Services (2019 and 2027)
7.4 Medical Writing and Publishing
7.5 Medical Monitoring
7.6 Medical Science Liaisons (MSLs)
7.7 Medical Information
8. Medical Affairs Outsourcing Market Analysis - By Application
8.2 Medical Affairs Outsourcing Market, by Application, Revenue and Forecast to 2027 (USD Million)
8.3 Medical Affairs Outsourcing Market Share, by Application, 2019 and 2027, (%)
8.6 Medical Devices
8.6.3 Therapeutic Medical Devices
8.6.4 Diagnostic Medical Devices
9. Medical Affairs Outsourcing Market - Geographic Analysis
10. Impact of COVID-19 Pandemic on Global Medical Affairs Outsourcing Market
11. Medical Affairs Outsourcing Market- Industry Landscape
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.4 Inorganic Developments
12. Company Profiles
12.1 Key Facts
12.2 Business Description
12.3 Products and Services
12.4 Financial Overview
12.5 SWOT Analysis
12.6 Key Developments
PAREXEL INTERNATIONAL CORPORATION
UDG Healthcare plc.
For more information about this report visit https://www.researchandmarkets.com/r/o96cfx
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900