Medical Writing Market to Grow at a CAGR of 7.0% to reach US$ 3,981.8 Million from 2020 to 2027

The medical writing market was valued at US$ 2,322.40 million in 2019 and is projected to reach US$ 3,981.8 million by 2027; it is expected to grow at a CAGR of 7.0% during the forecast period.

Medical writing is a form of communication of clinical as well as scientific information and data to a broad range of audiences; the said content is communicated 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 right 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 various medical documents for regulatory submissions, including protocols and final reports for clinical trials, and clinical expert reports.

An upsurge in the demand for regulatory framework in pharmaceuticals and biopharmaceuticals industries is a major factors propelling the growth of the medical writing market. To grant approval for any product, regulatory authorities demand detailed methodologies for all the phases of product development. The medical writers who are involved in medical writing understand the requirements and expectations of the regulatory agencies, and they are exposed to different tasks that offer valuable insights in protocol design. The data generated from the clinical trial reflect all the required information about product labeling, provide summaries for statistical and highly complex data, and proffer suggestions for process improvements. The information contained in the medical writings should clear and sound to ensure its easy spread around the audience, and for this reason, the medical writers enhance the speed and quality of specific documentation. The medical writing market based on type is segmented into clinical writing, regulatory writing, scientific writing, and others. On the basis of application, the market is segmented into medical journalism, medical education, medico marketing, and others. The medical writing market based on end user is segmented into pharmaceuticals and biotechnology companies, and contract research organizations (CROs).

North America is expected to be the largest shareholder in the global medical writing market. For the FDA approval in the US, medical writing requires a deep understanding of the requirement laid down by regulatory authorities. The documents for FDA submission need to be accurate and concise. The Canadian Minister of Small Business and Exports Promotion recently announced the investment in Everest Clinical Research through the Women Entrepreneurship Fund (WEF). North America is the major stakeholder in the CRO market owing to factors such as the robust growth of the pharmaceutical market, availability of advanced technologies, and high quality standards of the pharmaceuticals and biopharmaceuticals industries. The growth of the market in North America is attributed to the presence of a large number of pharmaceuticals companies and extensive drug development activities in the US. However, the use of low-cost offshore locations for CRO activities by several US pharmaceutical companies results in differences between consumption and production.

The COVID-19 pandemic first began in Wuhan (China) in December 2019, and since then it has spread worldwide at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the most affected countries in terms of confirmed cases and reported deaths as of May 2020. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Healthcare is one of the major sectors in the world suffering serious disruptions such as supply chain breaks, disruptions in manufacturing and office shutdowns due to lockdown. For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries. The shutdown of various plants and factories in regions such as Asia Pacific and Europe is affecting the global supply chains, hampering the manufacturing and delivery schedules, and sales of various goods.

Global Medical Writing Market

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Market Insights

Upsurge in demand for regulatory framework in pharmaceuticals and biopharmaceuticals industries drives market growth

Regulatory authorities demand detailed methodologies for all the phases of product development to methodically approve any product, which makes the process tedious. Moreover, insurance providers require all necessary information about drugs for determining reimbursement policies. Therefore, it becomes a challenging task for pharmaceuticals and biopharmaceuticals companies to keep up with the industry norms. The companies, along with CROs, are challenged to identify the improvements in processes to convey the information to the responsible regulatory agency. Therefore, these industries employ medical writers to ensure a systematic process of documentation. The medical writers understand the requirements and expectations of the regulatory agencies, and they are exposed to different tasks that offer valuable insights in protocol design. The data generated from clinical trials reflect all the required information about product labeling, provide summaries for statistical and highly complex data, and proffer suggestions for process improvements. The information contained in the medical writing should be put up is clear context to ensure its easy spread around the audience; for this, the medical writers enhance the speed and quality of specific documentation. They also clarify the uncertainties regarding regulatory requirements.

Type Insights

Based on product type, the global medical writing market is segmented into clinical writing, regulatory writing, scientific writing, and others. The clinical writing segment held the largest share of the global medical writing market in 2018. Clinical writing is a specialized medical writing adopted by healthcare professionals on a daily basis, and it contains factual information. Clinical writing involves essential, accurate, and specific information on patient conditions, diagnostics procedures, treatments, and prognoses. Clinical writing differs from other types of medical writing as it revolves around patient care. It also has legal implications and can be used as evidence in malpractice or negligence lawsuits. It is written briefly in a cryptic form, and in the cases of charting, it is rarely presented using proper or complete sentence structures. The primary purpose of clinical writing is to form communication between members of the healthcare teams, including unit clerks, laboratory technicians, therapists, care aides, nurses, and doctors. The growing importance of clinical writing in preclinical research, regulatory affairs, clinical laboratory, and data management has spurred the demand for global medical writing services.

Global Medical Writing Market, by Type - 2018 and 2027

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Application Insights

Based on application, the global medical writing market is segmented into medical journalism, medical education, medico marketing, and others. Medical education held a larger share of the global medical writing market in 2018. Medical education refers to providing education or training of unbiased medical and scientific content. It is a spectrum of medical education activities that spans from purely educational to promotional. Medical education has managed to maintain its role as a mainstay medical communication tool till now. The medical education is targeted toward physicians as well as patients. It is targeted at physicians includes medical literature, textbooks, medical journals, e-learning modules, slide decks, continued education (CE) programs, continued medical education (CME) programs, etc. However, medical education targeted at patients mostly includes patient educational material.

End User Insights

Based on end user, the global medical writing market is segmented into pharmaceutical and biotechnology companies, and contract research organizations (CROs). The pharmaceutical and biotechnology companies segment led the medical writing market with a larger share in 2018, and it is further expected to continue its dominance during the forecast period. Medical writing in pharmaceutical and biotechnology companies involves the development of research papers, conference writings, and review papers. Usually skilled writers are hired for the writing. Medical writing plays an important role in pharmaceutical companies as the companies are efficiently trying to bring new medicines into the market. Good medical writing helps in quality clinical trial conduct, cleat trial objectives, and optimal product labeling, which together ensure systematic conduct and product promotion. Medical writing in the pharmaceuticals and biotechnology companies is accurate and complete, and is less likely to be retracted.

Strategic Insights

Cactus Communications, Certara., Covance, Freyr Solutions, Inclin Inc., Parexel International Corporation., Quanticate, Siro Clinpharm Private Limited, Synchrogenix, and Triology Writing and Consultancy GMBH are among the key players operating in the global medical writing market. These companies are implementing new product developments, and mergers and acquisitions strategies to enlarge their customer base and gain significant share in the global market, which, in turn, permits them to maintain their brand name globally.

Medical writing Market, by Type

• Clinical Writing
• Regulatory Writing
• Scientific Writing
• Others

Medical writing Market, by Application

• Medical Journalism
• Medical Education
• Medico Marketing
• Others

Medical writing Market, by End User

• Pharmaceutical and Biotechnology Companies
• Contract Research Organizations (CROs)

Company Profiles

• Cactus Communications
• Certara
• Covance
• Freyr Solutions
• Inclin Inc.
• Parexel International Corporation
• Quanticate
• Siro Clinpharm Private Limited
• Synchrogenix
• Triology Writing and Consultancy GMBH