Press release
Medical Affairs Outsourcing Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Medical Affairs Outsourcing
The surge in infectious diseases is anticipated to drive the expansion of the medical affairs outsourcing market in the future. Infectious ailments, transmissible from person to person through several modes, including direct interaction, airborne particles, or vectors, are on the rise. The increase in these conditions is attributed to factors such as urbanization, changes in lifestyle, limited access to healthcare, and environmental factors. Medical affairs outsourcing serves as a solution to the surge in communicable diseases by offering professional assistance in managing clinical trials, increasing regulatory observance, and enhancing medical communication and information, facilitating improved disease control and intervention approaches. For example, the UK Health Security Agency, a UK-based government entity, reported an increase of 10.7% in tuberculosis (TB) cases in England, from 4,380 in 2022 to 4,850 in 2023 in February 2024. Consequently, the rising incidence of infectious diseases is propelling the growth of the medical affairs outsourcing market.
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What is the projected compound annual growth rate (CAGR) of the medical affairs outsourcing market from 2025 to 2034, and what factors influence it?
The market for outsourcing in medical affairs has expanded quickly in the past few years. Projected growth indicates that the market will increase from $1.85 billion in 2024 to $2.07 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.3%. The expansion witnessed in the historical period is due to factors such as an increase in patent expiries, growth in virtual interactions, increased focus on Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs), the emergence of new communication methods, and the overall growth of the life sciences industry.
The market size for medical affairs outsourcing is projected to witness swift expansion in the upcoming years, with its worth reaching $3.15 billion by 2029, reflecting a compound annual growth rate (CAGR) of 11.1%. Factors contributing to this growth in the forecast period can be traced back to the rising occurrence of both infectious and non-infectious diseases, an uptick in the number of biopharmaceutical firms, increased clinical trial activities, growing figures of FDA-sanctioned manufacturing facilities, and escalating demand for real-world evidence. The prognosis period will also see significant trends like drug development, technological breakthroughs, fostering digital innovation, introducing patient-focused strategies, and the incorporation of outsourced medical affair services.
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How are the latest trends influencing the growth of the medical affairs outsourcing market?
Leading firms in the medical affairs outsourcing sector are zeroing in on technological superiority including artificial intelligence (AI) and technology-focused methods for improving data administration, optimizing clinical trials, and bettering regulatory compliance. This results in enhanced efficiency and efficacy in disease management and intervention schemes. Artificial intelligence (AI) and technology-focused methods essentially employ sophisticated technologies to augment efficiency, precision, and decision-making in managing medical data, processes, and conversations. As an example, Envision Pharma Group, a pharmaceutical organization based in the UK, introduced 4Sight Drive in July 2024. This AI-powered platform leverages machine learning algorithms to spot patterns, predict outcomes, and facilitate decision-making in the realm of medical affairs. Its singular features include processing structured and non-structured data from various origins, delivering tailored insights for every client, and advancing through user evaluations. By harnessing the power of artificial intelligence, these organizations have the ability to fine-tune their medical affairs tactics, amplify stakeholder engagement, and enhance patient results.
What are the major segments of the medical affairs outsourcing market and their role in driving growth?
The medical affairs outsourcingmarket covered in this report is segmented -
1) By Services: Medical Writing And Publishing, Medical Monitoring, Medical Science Liaisons (MSLs), Medical Information, Other Services
2) By Software: Cloud Based Software, On Premise Software
3) By Industry: Pharmaceutical, Biopharmaceutical, Medical Devices
Subsegments:
1) By Medical Writing and Publishing: Regulatory Writing, Clinical Writing, Scientific Publications, Safety Writing
2) By Medical Monitoring: On-site Monitoring, Remote Monitoring, Risk-Based Monitoring
3) By Medical Science Liaisons (MSLs): MSL Training and Development, Field Medical Support, KOL Engagement and Management
4) By Medical Information: Inquiry Management, Adverse Event Reporting, Medical Content Development
5) By Other Services: Regulatory Affairs Support, Compliance Management, Pharmacovigilance, Biostatistics And Data Management
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Which regions are key players in the growth of the medical affairs outsourcing market?
North America was the largest region in the medical affairs outsourcing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical affairs outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the medical affairs outsourcing market?
Major companies operating in the medical affairs outsourcing market are Thermo Fisher Scientific Inc., CROMSOURCE Inc., Boehringer Ingelheim International GmbH, IQVIA Holdings Inc., Laboratory Corporation of America Holdings, ICON plc, WuXi AppTec Co. Ltd., Syneos Health Inc., Charles River Laboratories International Inc., PAREXEL International Corporation, Veeva Systems Inc., Medpace Holdings Inc., Indegene Inc., Caidya Inc., Cytel Inc., Alira Health Inc., inVentiv Health Inc., Ashfield Healthcare Communications (part of Ashfield an UDG Healthcare company), Bioscript Group Limited, The Medical Affairs Company LLC
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What Is Covered In The Medical Affairs Outsourcing Global Market Report?
•Market Size Forecast: Examine the medical affairs outsourcing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the medical affairs outsourcing market for a structured understanding.
•Key Players Overview: Analyze major players in the medical affairs outsourcing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medical affairs outsourcing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the medical affairs outsourcing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medical affairs outsourcing market.
•Industry Challenges: Identify potential risks and obstacles affecting the medical affairs outsourcing market.
•Competitive Landscape: Review strategic developments in the medical affairs outsourcing market, including expansions, agreements, and new product launches.
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