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Rising Disease Prevalence Drives Growth In Medical Affairs Outsourcing Market: Key Factor Driving The Growth In The Medical Affairs Outsourcing Market
Medical Affairs Outsourcing Market
What Is the Expected Medical Affairs Outsourcing Market Size During the Forecast Period?
The medical affairs outsourcing market size has grown rapidly in recent years. It will grow from $1.85 billion in 2024 to $2.07 billion in 2025 at a CAGR of 11.3%. Growth is attributed to rising patent expirations, virtual engagement growth, increased emphasis on CROs and CMOs, new communication methods, and the expanding life sciences industry.
The medical affairs outsourcing market is expected to reach $3.15 billion by 2029, growing at a CAGR of 11.1%. Growth is attributed to the rise in communicable diseases, clinical trials, and demand for real-world evidence. Key trends include digital transformation, patient-centric approaches, and outsourcing of
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What Are the High-Growth Segments in the Medical Affairs Outsourcing Market?
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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What Key Drivers Are Expected to Influence Future Medical Affairs Outsourcing Market Growth?
The rising prevalence of infectious diseases is expected to boost the medical affairs outsourcing market. Infectious diseases, which spread from person to person, are increasing due to urbanization, lifestyle changes, and inadequate healthcare access. Medical affairs outsourcing supports managing clinical trials, ensuring regulatory compliance, and improving communication to address infectious diseases. In 2023, the UK Health Security Agency reported a 10.7% rise in tuberculosis cases. The increase in infectious diseases is therefore driving the medical affairs outsourcing market.
Which Companies Hold the Largest Share Across Different Medical Affairs Outsourcing Market Segments?
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
What Are the Major Trends Shaping the Medical Affairs Outsourcing Market?
Major Companies in the medical affairs outsourcing market are focusing on artificial intelligence (AI) and technology-driven approaches to improve data management, streamline clinical trials, and enhance regulatory compliance. In July 2024, Envision Pharma Group, a UK-based pharmaceutical company, introduced the AI-driven platform 4Sight Drive. This platform uses machine learning to analyze medical data, identify trends, and support decision-making to improve patient outcomes.
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What Are the Emerging Geographies for The Medical Affairs Outsourcing Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Affairs Outsourcing Market?
2. What is the CAGR expected in the Medical Affairs Outsourcing Market?
3. What Are the Key Innovations Transforming the Medical Affairs Outsourcing Industry?
4. Which Region Is Leading the Medical Affairs Outsourcing Market?
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