Global Medical Affairs Outsourcing Market: Emerging Trends, Major Key Players ICON and IQVIA Holdings, Inc

According to the report, The global medical affairs outsourcing market size was valued at USD 1.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12.2% from 2020 to 2027. One reason for the increasing popularity of medical outsourcing is the cost-effectiveness that it brings to pharmaceutical companies and biotechnology companies. When it comes to developing a new drug or biopharmaceutical product, a lot of time and money is needed for clinical trials and other biomedical research. The cost of these studies is one of the primary reasons pharmaceutical companies look to outsource the medical portion to other biotech and medical companies.

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The latest research report published by Evolve Business Intelligence examines the impacts of numerous market aspects on the global MEDICAL AFFAIRS OUTSOURCING industry including a look at the current market size and forecasts for key segments and regions, the driving forces behind the market, the probable effects from key trends, how all these will affect the business plan, SWOT analysis of critical sectors for each of the key competitors, customers and more! Providing valuable data about conglomerations that are most likely going to have an impact on this industry is essential to any company who plans to properly invest for next 5 years. These findings supplement our initial quantitative study in order to facilitate any new investments or planning traits against threats in existing sectors through a strategic business plan.

Impact of COVID-19

The on-going COVID-19 pandemic has had a significant impact on the industry. Several financial impacts and disruptions have been felt over a long period of time. Our research has interviewed numerous delegates from this industry, across geographical markets to collect information that is helpful for addressing potential challenges the COVID-19 pandemic may cause going forward.
In terms of COVID 19 impact, the Medical Affairs Outsourcing market report also includes the following data points:
• Impact of COVID-19
• Government Aids and Policies for Industry Revival
• Companies Recent Developments to Tackle Negative Impact
• Opportunity Window & Post COVID Trend

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Key Players
Some of the major Medical Affairs Outsourcing players holding highest market share include ICON, IQVIA Holdings, Inc, The Medical Affairs Company and Syneos Health, Inc. These players use new product development as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• ICON
• IQVIA Holdings, Inc
• The Medical Affairs Company
• Syneos Health, Inc
• Pharmaceutical Product Development
• Ashfield Healthcare Communications
• Zeincro Group
• Wuxi Clinical Development, Inc
• SGS
• Indegene, Inc

Segmental Analysis

Market Segment By Services with focus on market share, consumption trend, and growth rate of MEDICAL AFFAIRS OUTSOURCING Market:
o Medical Writing & Publishing
o Medical Monitoring
o Medical Science Liaisons (MSLs)
o Medical Information
o Others

Market Segment By Industry with focus on market share, consumption trend, and growth rate of MEDICAL AFFAIRS OUTSOURCING Market:
o Pharmaceutical
o Biopharmaceutical
o Medical Devices

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Global Medical Affairs Outsourcing Geographic Coverage:
• North America
o US
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Rest of Asia Pacific

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA

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