The medical affairs outsourcing market was estimated to be US$ 1.24 billion in 2021 and US$ xx billion in 2023 and is expected to reach US$ 5.81 billion by 2031; it is estimated to record a CAGR of 12.5% till 2031. Globalization of clinical trials, digital transformation, strategic partnerships and alliances between pharmaceutical companies and outsourcing providers and increasing demand for specialized services will likely remain key medical affairs outsourcing market trends.

Medical Affairs Outsourcing Market Analysis

An increasing number of clinical trials worldwide and the rise in the adoption of outsourcing activities coupled with increasing R&D expenditures are key factors driving the medical affairs outsourcing market. As per the data from the US National Library of Medicine, as of April 2024, there were 491,086 clinical studies ongoing in 50 states and 223 countries. The following figure shows the rise in the number of studies registered in the past couple of years till 2024.

Number of Registered Studies for Clinical Trials

Year First Posted	Studies at Start of Year	Studies During Year	Studies at End of Year
2021	325,747	36,722	362,469
2022	362,469	37,014	399,483
2023	399,483	38,028	437,511

Source: Clinical Trials.gov and the Insight Partners Analysis

Hence, the increasing number of clinical trials increases the demand for medical affairs services and is a significant factor driving the growth of the medical affairs outsourcing market.

Medical Affairs Outsourcing Market Overview

The global medical affairs outsourcing market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The North American region holds the largest market share, whereas the Asia Pacific region is expected to grow fastest. The medical affairs outsourcing market is estimated to have the largest share in the United States in the North American region. The medical affairs outsourcing market in the United States is expected to grow due to the rising number of clinical trials, the presence of leading market players, and elevating need for medical writing and publishing

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Medical Affairs Outsourcing Market: Strategic Insights

Medical Affairs Outsourcing Market

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  CAGR (2023 - 2031)

  12.5%
• Market Size 2021
  US$ 1.24 billion
• Market Size 2031
  US$ 5.81 billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• ICON PLC
• IQVIA Inc
• Syneos Health
• WuXi AppTec
• SGS SA
• PPD Inc
• PAREXEL INTERNATIONAL CORPORATION
• Indegene
• Excelya

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Services

• Medical Writing and Publishing
• Medical Monitoring
• Medical Science Liaisons
• Medical Information
• Others

Application

• Pharmaceutical
• Biopharmaceutical
• Medical Devices

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Medical Affairs Outsourcing Market Drivers and Opportunities

Rise in Adoption of Outsourcing Activities Coupled with Increasing R&D Expenditures to Favor the Market

Research and development (R&D) is essential and crucial to the company’s business. Pharmaceutical, medical device, and biotechnology companies focus on research and development (R&D) to develop new molecules for various therapeutic applications with the greatest medical and commercial potential. The companies invest majorly in R&D to deliver high-quality and innovative products to the market. Research and development expenditures relate to discovering, testing, and developing new products, upfront payments and milestones, improving existing products, and demonstrating product efficacy and regulatory compliance before launch. According to the Organisation for Economic Cooperation and Development (OECD), in 2021, the pharmaceutical industry spent US$ 129 billion on research and development activities. Business-based pharmaceutical research and development expenditure (BERD) increased by 39% in since 2010.

Increasing Opportunities in Emerging Economies – An Opportunity in Medical Affairs Outsourcing

Growing healthcare sector in developing countries of Asia-Pacific creates better opportunities for the medical affairs outsourcing management market players to expand their business. The huge patient population in these countries is generating demand for more clinical trials. The number of clinical trials conducted in Asia Pacific is higher than in the US or Europe. This shift is ascribed to low operational costs, large patient recruitment potential, contract research organizations growth, favorable regulatory environment, and better clinical trials capacity and quality.

Medical Affairs Outsourcing Market Report Segmentation Analysis

Key segments that contributed to the medical affairs outsourcing market analysis derivation are services and application.

• Based on services, the medical affairs outsourcing market is divided into medical writing and publishing, medical monitoring, medical science liaisons (MSLS), medical information, and others. The medical writing and publishing segment held a larger market share in 2023.
• The market is segmented by application into pharmaceutical, biopharmaceutical, and medical devices. The pharmaceutical segment held the largest share of the market in 2023.

Medical Affairs Outsourcing Market Share Analysis by Geography

The geographic scope of the medical affairs outsourcing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

The North America medical affairs outsourcing market is segmented into the US, Canada, and Mexico. The US held the largest share of the North American medical affairs outsourcing market in 2023. Increasing demand for clinical trials, growing pharmaceutical and medical device industries, increasing healthcare expenditure, high R&D spending, and the presence of well-known market players are some of the prominent factors propelling the market growth.

In Canada, the market is expected to grow in a faster pace, owing to the development of the healthcare systems, high quality medical services, and presence of expert research clinicians. Moreover, Mexico is likely to experience growth opportunities in the medical affairs outsourcing market due to growing pharmaceutical and medical device industries and a diverse demographic profile for clinical trials in the region.

Medical Affairs Outsourcing Market Report Scope

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Medical Affairs Outsourcing Market News and Recent Developments

The medical affairs outsourcing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Medical Affairs Outsourcing and strategies:

• In August 2023, Syneos Health, a fully integrated biopharmaceutical solutions organization, signed an agreement with Aotearoa Clinical Trials, expanding its clinical trial capabilities across various therapeutic areas in New Zealand, including Oncology, General Medicine, and Vaccines. (Source: Company Press Release)
• In February 2023, Syneos Health launched a Decentralized Clinical Trial (DCT) Site Network to drive appropriate DCT adoption and enable high-quality delivery of DCTs and digital health technology solutions. The introduction of the Syneos Health DCT Site Network complements the Company’s existing Site Advocacy Group, continuing the momentum for decentralized solutions to bring clinical trials closer to the patient. (Source: Company Press Release)

Medical Affairs Outsourcing Market Report Coverage and Deliverables

The “Medical Affairs Outsourcing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles