Medical Writing Market: Rising Demand for Medical Writing in Recent Years is Projected to Boost Market Growth at a Healthy CAGR of 10.31% During the Forecast Period of 2022 to 2030

Market Research Future (MRFR) has published a cooked research report on the “Global Medical Writing Market” that contains information from 2018 to 2030. The Medical Writing market is estimated to register a CAGR of 10.31% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Medical Writing market— Parexel International Corporation (US), Freyr Solutions (US), Cactus Communications (UK), Covance Inc (US), IQVIA (US), OMICS International (India), SYNCHROGENIX (US), SIRO CLINPHARM (India), INCLIN (US), and Clinexa Life Sciences Pvt (Australia).

Medical Writing Market Highlights

The global Medical Writing market is accounted to register a CAGR of 10.31% during the forecast period and is estimated to reach USD 5.28 Billion by 2030.

The medical writing market refers to the professional services provided by medical writers who specialize in creating scientific and clinical content for the healthcare industry. These writers produce a wide range of materials, including research articles, regulatory documents, drug monographs, and medical education materials.

Segment Analysis

The global Medical Writing market has been segmented based on Product, Application and End User

On the basis of Product, the market is segmented into Clinical Writing, Regulatory Writing, Scientific Writing, and Others. In 2019, Clinical Writing held the biggest market share. Clinical writing is a subset of medical writing that describes the everyday writing that healthcare practitioners use, such as medical charts and forms.

Based on Application, the global Medical Writing market has been segmented into Medical Journalism, Medical Education, Medico Marketing, and Others. In 2019, medical journalism held the greatest market share. PR and PR materials, instructional manuals, product monographs, and official website content are all examples of medical journalism.

Based on End User, the global Medical Writing market has been segmented into Pharmaceutical & Biotechnology Companies and Contract Research Organizations.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Medical Writing Market Research Report

Regional Analysis

The global Medical Writing market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Medical Writing market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Medical Writing market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Medical Writing market comprises of Middle East, Africa, and Latin America.

With a 35.4% market share in 2022, North America dominate the market. In order to write clinically in the US for FDA approval, one must have a thorough awareness of the regulations set forth by the regulatory body. The FDA filing documentation must be accurate and concise.

Over the course of the forecast period, North America is anticipated to account for the biggest market share in the medical writing industry, followed by Asia Pacific. Due to a number of factors, including the region's swiftly expanding healthcare business and the strong demand for medical writing services within the healthcare sector, North America currently accounts for a sizeable portion of the worldwide medical writing market.

The establishment of multiple pharmaceutical firms and sizable drug development operations in the US are credited with contributing to North America's rise. However, a large number of US pharmaceutical companies outsource their contract research organisation (CRO) work to low-cost offshore nations, which causes inconsistencies between output and consumption.

On the other hand, Asia Pacific is anticipated to see a profitable growth rate between 2023 and 2030. As writing is acknowledged as an expanding profession, there is a growing demand for high-caliber writing throughout the Asia Pacific region. Due to their access to cheap labour, rapid turnaround times, a large pool of English writers, and easy access to resources, China and India are poised to dominate the regional market.

Key Findings of the Study

·         With a 35.4% market share in 2022, North America held the majority of the market. In order to write clinically in the US for FDA approval, one must have a thorough awareness of the regulations set forth by the regulatory body.

·         Based on Product, in 2019, Clinical Writing held the biggest market share.

·         Parexel International Corporation (US), Freyr Solutions (US), Cactus Communications (UK), Covance Inc (US), IQVIA (US), OMICS International (India), SYNCHROGENIX (US),  SIRO CLINPHARM (India), INCLIN (US) and Clinexa Life Sciences Pvt (Australia).