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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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
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, (%)
- ICON PLC
- IQVIA Inc
- PAREXEL INTERNATIONAL CORPORATION
- PPD Inc
- Syneos Health
- UDG Healthcare plc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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