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Allied Market Research

Medical Writing Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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COVID-19

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Medical Writing Market Outlook - 2027

Medical writing is the creation of scientific documents by specialized writers. A medical writer usually closely works with scientists, doctors, and other subject matter experts to create effective documentation that vividly defines research results and product’s usage. Medical writing has swiftly carved a niche for itself in the pharmaceutical industry as the industry has realized the need for specialist writers who can create well written and well-structured documents that present the information in a clear, concise manner in compliance with applicable regulations. Each year, as more drugs and medical devices go through the complex processes of clinical trials and regulatory procedures that lead to market approval, there is an increased demand for well-written documents compliant to regulations, standards, and formats. Medical writers combine their knowledge of science and research skills with an understanding of how to present information in a written format and produce right documents for the targeted audience.

Medical-Writing

Medical Writing Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2020

  Forecast period

  2021–2027

  Forecast units 

  Value (USD)

  Segments covered

  Type, Application, End User, and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Parexel International Corporation, Trilogy Writing & Consulting GmbH, FREYR, Cactus Communications, Covance, Inc., IQVIA HOLDINGS INC., OMICS International, Synchrogenix, SIRO Clinpharm Private Limited, QUANTICATE, and InClin, Inc.

 

COVID-19 scenario analysis:

Coronavirus disease 2019 (COVID-19) has created an economic crisis along with a healthcare crisis. COVID-19 pandemic has stretched healthcare system worldwide, wherein developed countries are expected to witness economic recession. The COVID-19 pandemic has an adverse impact on the healthcare system, resulting in 50% to 70% drop in revenue from March 2020. Many small hospitals, clinics, and nursing homes have been forced to shut their operations. Social distancing and localized curfews have resulted in delayed elective surgical procedures. In addition, visa cancellations have led to a hiatus in medical tourism and can negatively impact the healthcare services market growth.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The major factor affecting the industry includes demand for online medical writing. The information posted on such forums should be in accordance with the major medical writing guidelines. Currently, pharmaceutical companies adapted their advertising strategies to improve patient outreach. There is a steep growth in the influence of social media on customer’s decisions that had compelled pharmaceutical and biotechnology companies to rethink about their marketing strategies. Therefore, the steep growth of health and wellness-related blogs is anticipated to propel the demand for scientific writing. Additionally, regulatory agencies require detailed methodologies for all phases of product development for approval, which makes the process dreary. Furthermore, insurance providers demand information about drugs for determining reimbursement policies. The surge in investments in R&D results in rise in number of clinical trials, which is anticipated to boost the industry in the coming years.

Increase in the number of internet users to boost the medical writing market

According to the data given by the University of Oxford in 2016, three-quarters (76%) of people in the U.S. were online and during these years, countries from many parts of the world caught up with the advancement, in Malaysia 79% used the internet; in Spain and Singapore 81%; in France 86%; in South Korea and Japan 93%; in Denmark and Norway 97%; and Iceland tops the ranking with 98% of the population online.

While many of us cannot imagine their lives without the services that the internet provides, we are still in the very early stages of the internet. It was only in 2017 that half of the world’s population was online; therefore, still close to half of the world’s population is not using the internet.

Furthermore, according to a study in 2018, around 80% of internet users in the U.S. searched online for health-related information. In addition, nearly 60% of social media users rely on information posted by doctors on social media platforms. Physicians can expand their reach for better patient care by engaging with patients on these platforms. Demand for online medical writing is increasing. However, the information posted on such forums should be in accordance with medical writing guidelines.

Surge in number of clinical trials to propel the medical writing market

The ICTRP database contained data on 186,523 interventional clinical trials. The annual number of registered clinical trials increased from 3294 in 2004 to 23 384 in 2013. Relative to the number of clinical trial research publications, the global number of registered clinical trials increased five-fold between 2004 and 2013, rising particularly strongly between 2004 and 2005. In certain regions, especially Asia, the annual number of registered trials increased more gradually and continued to increase up to 2013. In India and Japan, two countries had more gradual increase. This increase only happened after several local measures were implemented that encouraged and enforced registration. In most regions, there was a trend toward trials being registered at local registries.

Key segments covered:

Segments

Sub-segments

  Type

  • Regulatory Writing
  • Clinical Writing
  • Scientific Writing
  • Others

  Application

  • Medical Education
  • Medical Journalism
  • Medico Marketing
  • Others

  End User

  • Medical Device/Pharmaceutical & Biotechnology Companies
  • Contract Research Organizations
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global medical writing market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global medical writing market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global medical writing market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global medical writing market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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