Global Regulatory Affairs Outsourcing Market Analysis of Key Trends and Drivers Shaping Future Growth until the End of 2023

Economic and competitive pressures in the healthcare industry continue to motivate life sciences companies to explore ways of cutting costs across operations and increase their focus on product innovations, research activities, and improved turnaround time of deliverables. Companies aspiring to widen their global reach are increasing investments on R&D activities and new products are entering clinical trials and the market at a rapid pace. Undertaking regulatory affairs and the maintenance of vast volumes data generated during the process can be a daunting task for companies having a vast product portfolio and operations spread across diverse regional markets.

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These factors have encouraged an increased rate of outsourcing of regulatory affairs across life sciences industries in the past few years. Recent findings by Transparency Market Research state that the global regulatory affairs outsourcing market will exhibit a healthy 10.1% CAGR from 2017 to 2023. As a result, the market, which had a valuation of US$3,234.4 million in 2017 will rise to US$5,746.5 million by 2023.

Clinical Trial Application and Product Registration Services to be Key Enabler of Growth

Of the key regulatory affair services outsourced by life sciences companies, regulatory writing and publishing is presently the largest market segment, accounting for a share of more than 43% across the global market in 2017. Owing to the diverse and continuously changing regulations across local, regional, national, and international markets, companies spend a vast share in their overall regulatory investments for timely updating data such as regulatory submissions and standard operating procedures. It is owing to this fact that the segment of regulatory writing and publishing leads the regulatory affairs outsourcing market. By the end of 2023, this segment is estimated to be worth US$2,406.6 million.

Global Regulatory Affairs Outsourcing Market: Company Profiles

The report also profiles major players in the this market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Key players in the global regulatory affairs outsourcing market are Criterium, Inc., Covance, Inc., Clinilabs, Inc., Charles River Laboratories International, Inc., and Accell Clinical Research, LLC.

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The global regulatory affairs outsourcing market is segmented into the following categories:

By Services

Regulatory Submissions
Clinical Trial Applications and Product Registrations
Regulatory Writing and Publishing
Regulatory Consulting and Legal Representation
Other Regulatory Affairs
By Region

North America
S.
Canada
Europe
K.
Germany
Rest of Europe
Asia Pacific (APAC)
India
China
Japan
Rest of APAC
Latin America (LATAM)
Brazil
Mexico
Rest of LATAM
Middle East and Africa (MEA)
South Africa
Rest of MEA

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