According to The Insight Partners’ Latest Study on “Medical Writing Market Forecast to 2027″ Focuses COVID-19 Impact and Global Analysis by Type [Clinical Writing, Regulatory Writing, Scientific Writing, Others]; Application [Medical Journalism, Medical Education, Medico Marketing, and Others]; End User [Pharmaceutical and Biotechnology Companies, and Contract Research Organizations (CROs)]; and Geography
The global medical writing market accounted for US$ 2,322.40 million in 2019 and is expected to grow at a CAGR of 7.0% during 2019–2027 to reach US$ 3,981.8 million by 2027. Medical writing is employed by pharmaceutical companies to get their products registered with international regulatory authorities. It involves preparing a variety of medical documents for regulatory submissions, including protocols and final reports for clinical trials, and clinical expert reports. It may also include the preparation of manuscripts for publication in medical journals.
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A medical writer is the person that can be the one who writes the medical data that effectively and clearly describe research results, product use, and other medical information. Medical writing is a form of communication of clinical and scientific information and data to a broad range of audiences in different formats. Medical writers combine their expertise in science and their research skills with an understanding of how to present information and pitch it at the right level for the intended audience. It is an integral part in the development drugs and is employed in contract research organizations (CROs), pharmaceutical companies, and communications agencies. Medical writing is employed by pharmaceutical companies to get their products registered with international regulatory authorities. It involves preparing a variety of medical documents for regulatory submissions, including protocols and final reports for clinical trials, and clinical expert reports. It may also include the preparation of manuscripts for publication in medical journals. The scientific information in these documents needs to be presented to suit the level of understanding of the target audience, such as patients, the general public, physicians and the regulators. The medical writing market is anticipated to grow due to increase in expiration of patents, and rise in research and regulatory services.
The major players operating in the global medical writing market include Cactus Communications, Certara., Covance, Freyr Solutions, Inclin Inc., Parexel International Corporation., Quanticate, Siro Clinpharm Private Limited, Synchrogenix, and Triology Writing and Consultancy GMBH among many others. The major players in the medical writing market are focused on strategies such as expansion and product launch to increase the geographical presence and consumer base globally. For instance, in September 2019 Cactus Communications launched PubSURE, the first marketplace that brings together researchers and journals across all STEM and HSS disciplines to make global scholarly publishing more efficient.
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COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace worldwide. Increase in the number of hospitalizations related to COVID cases has significantly necessitated the demand for a number of healthcare products, biomedical devices, and drugs. The increasing number of drugs trials and vaccine research has led to high demand for medical writing services. This represents a significant opportunity for medical writing service providers.
The global medical writing market, by geography, is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. North America accounted for the largest share of the market in 2018, followed by Europe and Asia Pacific. The region is home to a few major companies engaged in medical writing, such as Synchrogenix and Parexel International Corporation.
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