Medical Writing Market Size To Witness Phenomenal Growth 2027: Top Companies like Cactus Communications, Certara, Covance, InClin, Freyr Solutions, Quanticate, Synchrogenix

Medical writing is a form of communication of clinical as well as scientific information and data to a broad range of audiences; the said content is communicated in different formats. Medical writers combine their expertise in science and their research skills with an understanding of how to present information and pitch it right for the intended audience. It is an integral part in the development drugs and is employed in contract research organizations (CROs), pharmaceutical companies, and communications agencies. Medical writing is employed by pharmaceutical companies to get their products registered with international regulatory authorities. It involves preparing various medical documents for regulatory submissions, including protocols and final reports for clinical trials, and clinical expert reports.

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The medical writing market was valued at US$ 2,322.40 million in 2019 and is projected to reach US$ 3,981.8 million by 2027; it is expected to grow at a CAGR of 7.0% during the forecast period.

The global medical writing market is concentrated with a few well-established players, such as Cactus Communications, Certara, Covance, Synchrogenix, Parexel International Corporation, InClin, Freyr Solutions, Quanticate, SIRO Clinpharm Private Limited, Trilogy Writing and Consulting.

The data generated from the clinical trial reflect all the required information about product labeling, provide summaries for statistical and highly complex data, and proffer suggestions for process improvements. The information contained in the medical writings should clear and sound to ensure its easy spread around the audience, and for this reason, the medical writers enhance the speed and quality of specific documentation. The medical writing market based on type is segmented into clinical writing, regulatory writing, scientific writing, and others. On the basis of application, the market is segmented into medical journalism, medical education, medico marketing, and others. The medical writing market based on end user is segmented into pharmaceuticals and biotechnology companies, and contract research organizations (CROs).

The COVID-19 pandemic first began in Wuhan (China) in December 2019, and since then it has spread worldwide at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the most affected countries in terms of confirmed cases and reported deaths as of May 2020. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Healthcare is one of the major sectors in the world suffering serious disruptions such as supply chain breaks, disruptions in manufacturing and office shutdowns due to lockdown. For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries. The shutdown of various plants and factories in regions such as Asia Pacific and Europe is affecting the global supply chains, hampering the manufacturing and delivery schedules, and sales of various goods.

Based on product type, the global medical writing market is segmented into clinical writing, regulatory writing, scientific writing, and others. The clinical writing segment held the largest share of the global medical writing market in 2018. Clinical writing is a specialized medical writing adopted by healthcare professionals on a daily basis, and it contains factual information. Clinical writing involves essential, accurate, and specific information on patient conditions, diagnostics procedures, treatments, and prognoses. Clinical writing differs from other types of medical writing as it revolves around patient care. It also has legal implications and can be used as evidence in malpractice or negligence lawsuits. It is written briefly in a cryptic form, and in the cases of charting, it is rarely presented using proper or complete sentence structures. The primary purpose of clinical writing is to form communication between members of the healthcare teams, including unit clerks, laboratory technicians, therapists, care aides, nurses, and doctors. The growing importance of clinical writing in preclinical research, regulatory affairs, clinical laboratory, and data management has spurred the demand for global medical writing services.

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North America is expected to be the largest shareholder in the global medical writing market. For the FDA approval in the US, medical writing requires a deep understanding of the requirement laid down by regulatory authorities. The documents for FDA submission need to be accurate and concise. The Canadian Minister of Small Business and Exports Promotion recently announced the investment in Everest Clinical Research through the Women Entrepreneurship Fund (WEF). North America is the major stakeholder in the CRO market owing to factors such as the robust growth of the pharmaceutical market, availability of advanced technologies, and high quality standards of the pharmaceuticals and biopharmaceuticals industries.

Cactus Communications, Certara., Covance, Freyr Solutions, Inclin Inc., Parexel International Corporation., Quanticate, Siro Clinpharm Private Limited, Synchrogenix, and Triology Writing and Consultancy GMBH are among the key players operating in the global medical writing market. These companies are implementing new product developments, and mergers and acquisitions strategies to enlarge their customer base and gain significant share in the global market, which, in turn, permits them to maintain their brand name globally.

Reason To Buy

Highlights key business priorities to assist companies realign their business strategies.

Features key findings and crucial progressive industry trends in the global medical writing market, thereby allowing players to develop effective long-term strategies.

Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.

Scrutinizes in-depth market trends as well as key market drivers and restraints.

Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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