Middle East & Africa Medical Affairs Outsourcing Market SWOT Analysis by 2027
Middle East & Africa Medical Affairs Outsourcing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Services (Medical Writing and Publishing, Medical Monitoring, Medical Science Liaisons (MSLs), Medical Information, and Others) and Application (Pharmaceutical, Biopharmaceutical, and Medical Devices)
- Status : Published
- Report Code : TIPRE00025182
- Category : Life Sciences
- No. of Pages : 113
- Available Report Formats :
- Last update date : October 07, 2021
2020 Market Size
US$ 46.99 Mn
Base year value
2027 Forecast
US$ 92.37 Mn
Projected by 2027
CAGR 2021-2027
10.1 %
Growth rate
Addressable Market
US$ 492.34 Mn
(2021-2027)
The medical affairs outsourcing market in MEA is expected to grow from US$ 46.99 million in 2020 to US$ 92.37 million by 2027; it is estimated to grow at a CAGR of 10.1% from 2020 to 2027.
Saudi Arabia, South Africa, and UAE are major economies in MEA. Clinical trials on rise is the major factor driving the growth of the MEA medical affairs outsourcing market. A clinical trial is a crucial and significant step in the determination of safety and effectiveness of a medical strategy, treatment, or device for commercial usage. These studies also help understand and determine the best medical approaches for a particular therapeutic area. Clinical trials are conducted primarily to collect data regarding the safety and efficacy of new drug and device development. Before the approval of drug molecules or medical devices by the regulatory authorities, a series of clinical studies are conducted. The increasing prevalence of various communicable and non-communicable diseases is triggering the demand for the development of new drugs or medical devices. The abovementioned scenario is, in turn, expected to surge the demand for the medical affairs outsourcing services in the coming years. Hence, the increasing number of clinical trials, raising the demand for medical affair services, is a significant factor driving the growth of the medical affairs outsourcing market.
The countries in the MEA region have taken precautionary measures and imposed stringent regulations to control the spread of COVID-19. Countries such as the UAE, Saudi Arabia, Jordan, Iraq, and Iran have strictly imposed lockdowns. The majority of the countries in the region are dependent on other regions for medical devices and other products. As a result of the COVID-19 crisis, the World Bank forecasts that remittances to the MENA region are projected to fall sharply by 19.6%, after a total of US$ 42 billion in 2020 after a 2.6% increase in 2019. MENA countries and the global community also have a role to play in tackling COVID-19. For the first time in decades, MENA countries are facing a common issue with no political or religious agenda. The advent of high-throughput screens of approved compounds and small molecules has allowed researchers to effectively evaluate large drug libraries for their in vitro antiviral activity against novel targets. Russia has developed a new treatment for the COVID-19 patients and will soon conduct a trial in partnership with Saudi Arabian health. The current pharmaceutical markets in the MENA region vary significantly between different nations. For example, high spending power and a cultural preference for expensive foreign brands in Saudi Arabia have resulted in 85% of pharmaceuticals being imported. In contrast, 90% of the consumption in Egypt is domestically produced, with a much greater market share for generics. In recent years, South Africa has turned increasingly to generic drugs, providing an excellent opportunity for domestic and foreign manufacturers. Medical affairs play a pivotal role in overcoming barriers to accessing healthcare professionals (HCPs). Moreover, compliance requirements mean medical affairs is responsible for providing HCPs with real-time, unbiased, and transparent medical information in the MEA.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA medical affairs outsourcing market. The MEA medical affairs outsourcing market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Middle East & Africa Medical Affairs Outsourcing Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 46.99 Million |
| Market Size by 2027 | US$ 92.37 Million |
| CAGR (2020 - 2027) | 10.1% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Services
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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