Medical Writing Market Share, Size, Trends, Industry Analysis Report, By Type (Medical Writing, Scientific Writing, Regulatory Writing, Others); By Application, By End-User (Pharmaceutical Companies, CRO, Others); By Region; Segment Forecast, 2022 - 2030
- Published Date:Jun-2022
- Pages: 119
- Format: PDF
- Report ID: PM2430
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global medical writing market was valued at USD 3.58 billion in 2021 and is expected to grow at a CAGR of 10.5% during the forecast period. An increase in R&D spending across several industrial verticals is driving the market. These variables have influenced the medicinal writing industry and are anticipated to increase during the forecast period. Medical writing businesses may encounter additional hurdles, such as strict government regulatory laws.
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Industry Dynamics
Growth Drivers
The sudden outbreak of the coronavirus is among the key factors driving the global medical writing market's growth. During the ongoing pandemic, the global market is expected to be impacted positively as there is an increasing need to put systems in place to ensure proper information is shared in the right way. At the pandemic's start, most medicinal journals are expected to see a drop in submissions.
However, by 2020, many high-impact journals will see a significant increase in submissions during the pandemic. According to data published by Kolabtree in March 2021, market demand for freelance medical writers increased by 50% during the coronavirus pandemic. As a result of the considerations above, the COVID-19 pandemic is expected to influence the medical writing market significantly.
Furthermore, the healthcare industry's expanding research and development activities are driving the global market. Instructional and communication material associated with health and human services goods; the medical writing business has grown rapidly in recent years. Furthermore, more than 60% of the social media interactors are based on the doctor's interaction with the patients. Physicians are expected to expand their reach and improve patient care by communicating with patients on these platforms.
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Report Segmentation
The market is primarily segmented on the basis of type, application, end-use, and region.
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By Type |
By Application |
By End-Use |
By Region |
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Insight by Type
The regulatory writing segment held the largest share in the global market in 2021; regulatory medical writing entails the development of documentation for the approval of medications, devices, and biologics, such as research reports, study protocols, and investigator brochures, among other things. In the last decade, the number of medication innovations has risen.
Over the projected period, the growing number of developing pharmaceuticals that require regulatory documentation is expected to drive market expansion. Furthermore, a favorable environment for clinical trials in emerging economies, new medical apparatus regulations, and increasing penetration of social media along with the internet can all be attributed to the high need for regulatory medical writing services. Regulatory bodies demand thorough procedures for all phases of product development in order to gain permission, making the process time-consuming and driving segmental growth in the coming years.
Insight by Application
The medical journalism segment is expected to witness the highest CAGR during the forecast period. The majority of the segment focuses on investigating, reporting, and communicating health concerns to a broad audience. Non-professional/non-expert audiences, as well as healthcare professionals, are the target audiences for this form of journalism.
Most individuals are interested in health-related topics since they influence people's behavior. Rapid advances in medicine and the expanding relevance of health information have boosted the market demand for writers who can interpret and communicate health-related knowledge in writing.
Geographic Overview
Geographically, North America is the most significant revenue contributor in the global medical writing market. The presence of major market players and healthcare companies involved in the research & development of drugs and medical devices, medical publications, and many other healthcare activities require a considerable amount of documentation.
For instance, according to the Centers for Medicare & Medicaid Services (CMS), national healthcare spending in the United States is expected to expand at a rate of 5.5 % per year from 2018-to 2027, reaching about USD 6.0 trillion. Over the period 2018-2027, healthcare spending is expected to expand at a rate of 0.8 % per year, faster than GDP. As a result, the healthcare sector's percentage of GDP is predicted to increase from 17.9% in 2017 to 19.4% in 2027.
Moreover, Asia Pacific is expected to witness substantial medical writing market growth. This growth is expected to be boosted by technological advancements and the widespread acceptance of these technologies. In addition, the increased market demand for regulatory paperwork in the healthcare industry to communicate drug-related information is expected to boost market growth.
Competitive Insight
Some of the major medical writing market players include Cactus Communication, Cardinal Health, Certara, Covance, Freyer, Icon Plc., InClin Inc., Indegene, InFocusRX, IQVIA, Makrocare, Nucleus Global, OMICS, Parexel, Quanticate, Synchrogenix, Syneos Health, and Trilogy.
Medical Writing Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 3.58 Billion |
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Revenue forecast in 2030 |
USD 8.39 Billion |
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CAGR |
10.5% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Type, By Application, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Cactus Communication, Cardinal Health, Certara, Covance, Freyer, Icon Plc., InClin Inc., Indegene, InFocusRX, IQVIA, Makrocare, Nucleus Global, OMICS, Parexel, Quanticate, Synchrogenix, Syneos Health, and Trilogy. |
