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Medical Writing Market Size, Share, Industry Growth, Trends, Opportunity Analysis And Forecast To 2033
Medical Writing Market Size
As per the report, the medical writing market size has grown rapidly in recent years. It will grow from $3.42 billion in 2023 to $3.81 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The medical writing market size is expected to see rapid growth in the next few years. It will grow to $5.62 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
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Medical Writing Market Growth Fueled By Surge In Novel Drug Development
The rising development of new drugs is expected to propel the growth of the medical writing market going forward. Novel drugs are pharmaceutical substances not previously approved or marketed for therapeutic use. Medical writing helps the development of new drugs by providing strategies and techniques required in publishing documents for drug development. It also includes information regarding drug research and information technology. For instance, in January 2023, according to a report published by the Food and Drug Administration, a US-based federal agency, the Center for Drug Evaluation and Research (CDER) granted approval to 37 new drugs in 2022 that had never been previously approved or marketed in the United States, categorically referred to as novel drugs. Of these 37 drugs, 20, accounting for 54%, received approval during the same year. Therefore, the rising development of new drugs is driving the growth of the medical writing market.
Innovative Product Strategies Reshaping The Landscape Of The Medical Writing Market
Product innovation has emerged as a key trend gaining popularity in the medical writing market. Major companies operating in the medical writing market are concentrating on creating innovative products to strengthen their position in the market. For instance, in September 2021, Certara Inc., a US-based company that provides drug development software and services, launched the New Synchrogenix Writer Software. The Synchrogenix Writer program automates data mapping and allows for early writing before database lock, increasing consistency, lowering risk, and speeding up the regulatory filing process. A new regulatory SaaS application accelerates the production and assessment of patient narratives. Patient accounts of adverse events or medication responses are essential for clinical research reporting in all therapeutic areas and throughout the clinical phases.
The medical writing market covered in this report is segmented -
1) By Type: Clinical Writing, Regulatory Writing, Scientific Writing, Other Types
2) By Application: Medical Journalism, Medical Education, Medico Marketing, Other Applications
3) By End-Use: Pharmaceutical Companies, CRO (Contract Research Organization), Other End-Users
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Major companies operating in the medical writing market report are Cardinal Health Inc., Merck and Co.Inc., AbbVie Inc., Abbott Laboratories, Medtronic Plc., Labcorp Drug Development Inc., IQVIA Holdings Inc., Icon Plc., Parexel International Corporation, Syneos Health, Ashfield Healthcare Limited, Indegene Pvt. Ltd, UDG Healthcare Plc., Evidera, Certara Inc., MMS Holdings Inc., Freyr Solutions, Cactus Communication Ltd., Omics International Pvt Ltd., Quanticate International limited, Inclin Inc., Criterium Inc., Aptitude Health., Siro Clinpharm Private Limited, ProScribe Medical Communications, Pegasus Knowledge Solutions Inc., Cognibrain, Scientific Communications Group, InkLab Medical Communications, Trilogy Writing and Consulting GmBH.
Contents of the report:
1. Executive Summary
2. Medical Writing Market Report Structure
3. Medical Writing Market Trends And Strategies
4. Medical Writing Market - Macro Economic Scenario
5. Medical Writing Market Size And Growth
…..
27. Medical Writing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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