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South America Medical Affairs Outsourcing Market

2021

South America 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)

Publication Month: Oct 2021 | Report Code: TIPRE00025186 | No. of Pages: 110 | Category: Healthcare IT | Status: Published

Market Insights

South America Medical Affairs Outsourcing Market to Grow at a CAGR of 10.4% to reach US$ 157.45 million from 2020 to 2027

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The medical affairs outsourcing market in SAM is expected to grow from US$ 78.83 million in 2020 to US$ 157.45 million by 2027; it is estimated to grow at a CAGR of 10.4% from 2020 to 2027.


Brazil and Argentina are major economies in SAM. Outsourcing activities becoming more popular and R&D spending is increasing is the major factor driving the growth of the SAM medical affairs outsourcing market. Research and development (R&D) is an essential and crucial part of the company’s business. Pharmaceutical, medical device and biotechnology companies focus on the research and development (R&D) to come up with new molecules for various therapeutic applications with the greatest medical and commercial potential. The companies invest majorly on the R&Ds with the aim of delivering high quality and innovative products to the market. Research and development expenditures relate to the processes of discovering, testing and developing new products, upfront payments and milestones, improving existing products, as well as demonstrating product efficacy and regulatory compliance prior to launch. According to the International Federation of Pharmaceutical Manufacturers & Associations, the R&D expenditures in 2014 by the pharmaceuticals and biotechnology industry grew by approximately 8.7% than that of the expenditures in 2013. The drug development and discovery is time-consuming and expensive process. The process from early discovery or design to development to regulatory approval can take more than 10 to 15 years. Throughout the development phase of a drug substance, various testing services are required to check the quality and efficacy of the product. Therefore, the pharmaceutical and biotechnology companies prefer to outsource the services to the contract research organizations (CROs) in order to save the cost and time, which is expected to drive the growth of the market.

On February 26, 2020, the first case of COVID-19 was detected in Brazil's São Paulo. Since then, the governments in this region have taken various steps to protect their people and reduce the spread of COVID-19. By July 26, Latin America was the region with the highest number of reported cases worldwide, accounting for more than a quarter of the world's cases. South America registered 16,810,346 cases as of February 12, 2021. On June 11, the Government of Sao Paulo, Brazil's Instituto Butantan, signed an agreement with the Chinese laboratory Sinovac Biotech to develop an experimental vaccine against COVID-19. On December 10, President Alberto Fernández launched a national vaccination initiative to distribute 60 million doses in the first six months of 2021. Older people, health care staff, and military personnel will be among the first to obtain immunization. The President also announced an initial procurement of 600,000 Russian Sputnik V vaccine doses to vaccinate 300,000 Argentinians.

Outsourcing is very local in Latin America. Latin America has always been known for its legal and regulatory knowledge, language skills, and compatible time zone with America. Latin America is not caught up with inflation regarding total cost, which promotes a powerful value proposition of providing cost-effective services. When it comes to Spanish and Portuguese language skills, Latin America is probably the only region globally that offers the combination of language skills at scale plus cost savings. This works in favor of US markets due to the huge Spanish population present in the US. Global companies are gaining several regional and business opportunities, especially in large countries such as Brazil and Argentina, where the domestic market is also large (nearly 60–70%). With established regional markets and promises of lower costs, Latin America is considered the fastest-growing destination for offshore services in the healthcare industry.

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 SAM medical affairs outsourcing market. The SAM medical affairs outsourcing market is expected to grow at a good CAGR during the forecast period.

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1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 SAM Medical Affairs Outsourcing Market – By Services

1.3.2 SAM Medical Affairs Outsourcing Market – By Application

1.3.3 SAM Medical Affairs Outsourcing Market – By Country

2. SAM Medical Affairs Outsourcing Market – Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. SAM Medical Affairs Outsourcing– Market Landscape

4.1 Overview

4.2 SAM PEST Analysis

4.3 Expert Opinions

5. SAM Medical Affairs Outsourcing Market – Key Industry Dynamics

5.1 Market Drivers

5.1.1 Growing Number of Clinical Trials in SAM

5.1.2 Outsourcing Activities Becoming More Popular and R&D Spending is Increasing

5.2 Market Restraints

5.2.1 Development and Clinical Trials Costs Gone Up

5.3 Future Trends

5.3.1 Market Consolidation Expanding

5.4 Impact Analysis of Drivers and Restraints

6. Medical Affairs Outsourcing Market – SAM Analysis

6.1 SAM Medical Affairs Outsourcing Market Revenue Forecast and Analysis

7. SAM Medical Affairs Outsourcing Market Analysis – By Services

7.1 Overview

7.2 SAM Medical Affairs Outsourcing Market Revenue Share, by Services (2019 and 2027)

7.3 Medical Writing and Publishing

7.3.1 Overview

7.3.2 Medical Writing and Publishing: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

7.4 Medical Monitoring

7.4.1 Overview

7.4.2 Medical Monitoring: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

7.5 Medical Science Liaisons (MSLs)

7.5.1 Overview

7.5.2 Medical Science Liaisons: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

7.6 Medical Information

7.6.1 Overview

7.6.2 Medical Information: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

7.7 Others

7.7.1 Overview

7.7.2 Others: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

8. SAM Medical Affairs Outsourcing Market Analysis – By Application

8.1 Overview

8.2 SAM Medical Affairs Outsourcing Market Share, by Application, 2019 and 2027, (%)

8.3 Pharmaceutical

8.3.1 Overview

8.3.2 Pharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

8.4 Biopharmaceutical

8.4.1 Overview

8.4.2 Biopharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

8.5 Medical Devices

8.5.1 Overview

8.5.2 Medical Devices: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

8.5.3 Therapeutic Medical Devices

8.5.3.1 Overview

8.5.3.2 Therapeutic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)

8.5.4 Diagnostic Medical Devices

8.5.4.1 Overview

8.5.4.2 Diagnostic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)

9. SAM Medical Affairs Outsourcing Market – Country Analysis

9.1 Overview

9.1.1 SAM: Medical Affairs Outsourcing Market, by Country, 2019 & 2027 (%)

9.1.2 Brazil: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

9.1.2.1 Brazil: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

9.1.3 Brazil: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)

9.1.4 Brazil: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)

9.1.4.1.1 Brazil: Medical Device Market, by Type, 2018–2027 (USD Million)

9.1.5 Argentina: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

9.1.5.1 Argentina: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

9.1.6 Argentina: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)

9.1.7 Argentina: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)

9.1.7.1.1 Argentina: Medical Device Market, by Type, 2018–2027 (USD Million)

9.1.8 Rest of SAM: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

9.1.8.1 Rest of SAM: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

9.1.9 Rest of SAM: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)

9.1.10 Rest of SAM: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)

9.1.10.1.1 Rest of SAM: Medical Device Market, by Type, 2018–2027 (USD Million)

10. Impact of COVID-19 Pandemic on SAM Medical Affairs Outsourcing Market

10.1 SAM: Impact Assessment of COVID-19 Pandemic

11. Medical Affairs Outsourcing Market– Industry Landscape

11.1 Overview

11.2 Growth Strategies Done by the Companies in the Market, (%)

11.3 Organic Developments

11.3.1 Overview

11.4 Inorganic Developments

11.4.1 Overview

12. Company Profiles

12.1 ICON PLC

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 IQVIA Inc.

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Syneos Health

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 PPD Inc.

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 PAREXEL INTERNATIONAL CORPORATION

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 UDG Healthcare plc

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Glossary of Terms

LIST OF TABLES

Table 1. Brazil Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)

Table 2. Brazil Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 3. Brazil Medical Device Market, by Type – Revenue and Forecast to 2027 (USD Million)

Table 4. Argentina Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)

Table 5. Argentina Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 6. Argentina Medical Device Market, by Type – Revenue and Forecast to 2027 (USD Million)

Table 7. Rest of SAM Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)

Table 8. Rest of SAM Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 9. Rest of SAM Medical Device Market, by Type – Revenue and Forecast to 2027 (USD Million)

Table 10. Organic Developments Done By Companies

Table 11. Inorganic Developments Done By Companies

Table 12. Glossary of Terms, Medical Affairs Outsourcing Market

LIST OF FIGURES

Figure 1. SAM Medical Affairs Outsourcing Market Segmentation

Figure 2. SAM Medical Affairs Outsourcing Market, By Country

Figure 3. SAM Medical Affairs Outsourcing Market Overview

Figure 4. Medical Writing and Publishing Segment Held Largest Share of Services Segment In SAM Medical Affairs Outsourcing Market

Figure 5. Brazil Is Expected to Show Remarkable Growth During the Forecast Period

Figure 6. SAM PEST Analysis

Figure 7. SAM Medical Affairs Outsourcing Market Impact Analysis of Driver and Restraint

Figure 8. SAM Medical Affairs Outsourcing Market – Revenue Forecast And Analysis – 2019- 2027

Figure 9. SAM Medical Affairs Outsourcing Market Revenue Share, by Services (2019 and 2027)

Figure 10. SAM Medical Writing and Publishing: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 11. SAM Medical Monitoring: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 12. SAM Medical Science Liaisons: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 13. SAM Medical Information: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14. SAM Others: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 15. SAM Medical Affairs Outsourcing Market Share, by Application, 2019 and 2027 (%)

Figure 16. SAM Pharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 17. SAM Biopharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18. SAM Medical Devices: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 19. SAM Therapeutic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)

Figure 20. SAM Diagnostic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)

Figure 21. SAM: Medical Affairs Outsourcing Market, by Key Country – Revenue (2019) (USD Million)

Figure 22. SAM: Medical Affairs Outsourcing Market, by Country, 2019 & 2027 (%)

Figure 23. Brazil: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

Figure 24. Argentina: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

Figure 25. Rest of SAM: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)

Figure 26. Impact of COVID-19 Pandemic in SAM Market

Figure 27. Growth Strategies Done by the Companies in the Market, (%)

  1. ICON PLC
  2. IQVIA Inc
  3. PAREXEL INTERNATIONAL CORPORATION
  4. PPD Inc
  5. Syneos Health
  6. UDG Healthcare plc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM medical affairs outsourcing market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the SAM medical affairs outsourcing market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the medical affairs outsourcing market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
TIPRE00025186
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