Market Size of Global Medical Writing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 9.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Writing Market Analysis
The Medical Writing Market is expected to register a CAGR of nearly 9.1% during the forecast period.
The medical writing market had a significant impact during the pandemic, as there was an increased need to have systems in place to ensure that the right information is shared in the right manner. At the start of the pandemic, most medical journals were expected to see a dip in the number of submissions. However, at the end of 2020, many high-impact journals reportedly experienced considerable increases in submissions during the pandemic. As per the study "Pandemic publishing: Medical journals strongly speed up their publication process for COVID-19" published in August 2020, the data showed that from the start of the pandemic, the scholarly publishing industry has been able to significantly speed up the dissemination of information related to coronaviruses. The study also concluded that articles related to coronaviruses are the only ones whose publication process has accelerated. Therefore, the COVID-19 pandemic is anticipated to have a significant impact on the market as a result of the aforementioned factors.
Furthermore, the global medical writing market is primarily driven by the growing research and development activities in the healthcare sector and the growing demand for medical writing worldwide. As per a May 2020 update by the India Brand Equity Foundation (IBEF), in the Union Budget 2022-23, the Department of Biotechnology was allotted INR 2,581 crores (USD 343.56 million) for the development of basic infrastructure, genetic engineering, technologies, and bioinformatics, agriculture biotechnology, and training skilled professionals. This is anticipated to boost the number of research and development activities which would fuel the target market growth during the forecast period.
In recent years, the medical writing market is grown rapidly, owing to the development of administrative, security, and distribution records and instructive and correspondence material identified with wellbeing and human services items. Currently, most pharmaceutical companies outsource their clinical data management to specialized medical writing service providers. The rising introduction of various pharmaceutical products into the market is expected to increase the demand for experienced medical writers in the industry. For instance, in September 2021, The European Medical Writers Association (EMWA) announced that it will upgrade its Medical Writing session (formerly Internship Forum) in consideration of the recent establishment of the Getting into Medical Writing (GIMW) group. This group aims to assist new EMWA members in successfully and seamlessly beginning their careers as medical writers. This is expected to drive the medical writing market over the forecast period.
Thus, the growing need for regulatory paperwork in the healthcare industry to convey drug-related information is projected to augment market growth. However, the lack of skilled professionals is expected to impede the growth of the medical writing market over the forecast period.
Medical Writing Industry Segmentation
Medical writing refers to the writing of scientific documents by specific healthcare professionals for various purposes, such as publishing and regulatory submissions. The Medical Writing market is Segmented by Type (Scientific, Regulatory, Clinical, and Other Types), End User (Contract Research Organizations, Pharma and Biotechnological Companies, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above-mentioned segments.
| By Type | |
| Scientific Writing | |
| Regulatory Medical Writing | |
| Clinical | |
| Other Types |
| By End User | |
| Contract Research Organizations | |
| Pharma and Biotechnological Companies | |
| Other End Users |
| By Geography | ||||||||
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Global Medical Writing Market Size Summary
The medical writing market is poised for substantial growth, driven by the increasing demand for regulatory documentation in the healthcare sector. This demand is fueled by the surge in research and development activities, particularly in pharmaceuticals and biotechnology, as well as the need for comprehensive documentation to support drug approvals and clinical trials. The COVID-19 pandemic has further accelerated the need for efficient medical writing, as the rapid dissemination of information and the expedited publication processes for research related to coronaviruses highlighted the critical role of medical writers. The outsourcing of clinical data management by pharmaceutical companies to specialized medical writing service providers is also contributing to market expansion, as the introduction of new pharmaceutical products necessitates skilled medical writers to manage the associated documentation.
North America is expected to witness significant growth in the medical writing market, supported by the presence of major healthcare companies and a high volume of clinical trials requiring extensive documentation. The region's robust investment in healthcare research and development, coupled with the increasing complexity of clinical trials, is anticipated to drive demand for medical writing services. However, the market faces challenges due to a shortage of skilled professionals, which could impede growth. Despite this, the market remains moderately competitive, with key players like ICON Clinical Research, Certara, and others actively expanding their operations and capabilities to meet the growing needs of the industry. The ongoing investments in healthcare technology and the favorable environment for clinical trials in developing regions present significant opportunities for market expansion in the coming years.
Global Medical Writing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing R&D expenditure and Development of New Therapeutics
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1.2.2 The burgeoning of Contract Research Organizations and Outsourcing Services
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1.3 Market Restraints
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1.3.1 Lack of Skilled Professionals for Medical Writing
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Scientific Writing
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2.1.2 Regulatory Medical Writing
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2.1.3 Clinical
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2.1.4 Other Types
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2.2 By End User
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2.2.1 Contract Research Organizations
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2.2.2 Pharma and Biotechnological Companies
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2.2.3 Other End Users
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Medical Writing Market Size FAQs
What is the current Global Medical Writing Market size?
The Global Medical Writing Market is projected to register a CAGR of 9.10% during the forecast period (2024-2029)
Who are the key players in Global Medical Writing Market?
Paraxel International , IQVIA Inc, Laboratory Corporation of America Holdings, Icon Plc and Cardinal Health are the major companies operating in the Global Medical Writing Market.
