Medical Writing Market

Global Medical Writing Market Size (2023 to 2028)

During the forecast period, the global medical writing market is estimated to grow at a CAGR of 11.24% and be worth USD 8.39 billion by 2028 from USD 4.92 billion in 2023.

Medical writers combine scientific knowledge and research skills to communicate effectively and market information to the appropriate audience. It is used in contract research organizations (CROs), pharmaceutical corporations, and communications agencies as part of the drug development process. Pharmaceutical corporations use medical writing to register their drugs with international regulatory authorities. In terms of content, format, and structure, medical writers ensure that their writings conform to regulatory, journal, or other guidelines. The pharmaceutical and contract research organizations recognized the need for special skills to produce well-structured documents that concisely explain information; hence medical writing was born. Good medical writing helps conduct high-quality clinical trials, achieve trial objectives, and create optimal product labeling, all of which contribute to the systematic conduct and promotion of products.

MARKET DRIVERS:

Growing R&D efforts and growing CRO outsourcing are primarily boosting the global medical writing market growth.

In the pharmaceutical and related life sciences sector, key issues such as expansion in medical sciences have necessitated the need to express clear, succinct information on complicated themes, one of the significant global medical writing markets. Furthermore, regulatory documentation is always in demand with the increasing number of patents expiring and the inclusion of clinical trial processes. As a result, medical writing is in high demand. In addition, the rising partnerships and collaborations in this field are expected to drive market expansion.

Pharmaceutical businesses have changed their marketing techniques to reach out to more patients. Furthermore, the increasing impact of social media on customer decisions has forced pharmaceutical and biotechnology corporations to reconsider their marketing methods. As a result, the demand for scientific writing will likely rise as the number of health and wellness-related websites increases. In addition, investment dynamics in the drug development pipeline have increased the need for medical writing to make science and medical communication content simpler, descriptive, scientifically precise, and fully compliant with federal regulations. Finally, a high level of investment by pharma companies in implementing new technologies is also helping drive future market expansion.

MARKET RESTRAINTS:

The expansion of the global medical writing market is anticipated to be hampered by a scarcity of qualified medical writers and a lack of recognition for the medical writer's role. For determining reimbursement policies, insurance providers demand all necessary information regarding pharmaceuticals. As a result, keeping up with industry norms becomes a challenging effort for pharmaceutical and biopharmaceutical organizations. Companies and CROs are tasked with identifying improvements in processes for communicating information to the appropriate regulatory agency. Regulatory authorities demand precise methodology for all stages of product development, making the process time-consuming. In addition, insurance companies want drug information to determine payment policies. As a result, keeping up with industry standards has become challenging for pharmaceutical companies.

Impact of COVID-19 on the global medical writing market:

COVID-19 has had an economic and industrial impact on several countries due to lockdowns, travel bans, and business closures. Healthcare is one of the world's most important industries, with supply chain breakdowns, manufacturing disruptions, and workplace closures due to lockdowns. The medical writing market is likely to benefit from the current pandemic. There will be greater demand for tools to ensure accurate information is shared. Most medical journals expected a drop in submissions at the outset of the epidemic. However, many high-impact journals reported significant increases in submissions during the pandemic by the end of 2020. The COVID-19 pandemic underlined the importance of companies and research groups in North America working with the government to create new treatments to tackle future health crises. For example, several universities and significant players are working to develop coronavirus vaccines.

REPORT COVERAGE:

This research report on the global medical writing market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2028.

Medical Writing Market – By Type:

• Clinical Writing

• Regulatory Writing

• Scientific Writing

• Others

Based on type, clinical writing led the worldwide medical writing market and is expected to continue during the forecast period. Health workers regularly employ clinical writing, and a clinical writer must be fluent in medical jargon and culture. Effective clinical writing necessitates an awareness of the target reader and the purpose of the writing. It also has legal consequences, as it can be used as proof in malpractice or negligence cases. It is written briefly in a cryptic fashion, whereas in charting, it rarely incorporates appropriate or complete sentence structures. Clinical writing's primary goal is to make it easier for healthcare team members, such as unit clerks, laboratory technicians, therapists, care aides, nurses, and doctors, to communicate with one another.

Medical Writing Market – By Application:

• Medical Journalism

• Medical Education

• Medico Marketing

• Others

In 2022, the most popular application segment was medical journalism. Investigating, reporting, and explaining medical issues to a broad audience are the core goals of medical journalism. Nonprofessional/non-expert audiences and healthcare professionals are the target audiences for this form of journalism. Most individuals are interested in medical and health-related topics since they impact people's behavior.

Medical Writing Market – By End-user:

• Medical Device/Pharmaceutical & Biotechnology Companies

• Contract Research Organizations & Others

Due to increased R&D costs, CROs and others controlled most of the global medical writing market in 2022 based on the end-user. In addition, drug companies are under pressure to make up for revenue lost due to generics entering the market when patents have expired.

Medical Writing Market – By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Geographically, due to the presence of key market players and healthcare companies involved in the research and development of drugs and medical devices, medical publications, and many other healthcare activities that necessitate a large amount of documentation, the North American medical writing market is expected to have significant growth during the forecast period. In addition, medical writing for FDA approval in the United States necessitates a thorough understanding of the regulatory authority's requirements.

The European medical writing market was the second-largest regional market globally and is forecasted to grow at a healthy CAGR during the forecast period. On the other hand, the APAC medical writing market is expected to grow at the fastest CAGR from 2023 to 2028.

KEY MARKET PLAYERS:

Cactus Communications, Certara, Covance, Freyr Solutions, Inclin Inc., Parexel International Corporation, Quanticate, Siro Clinpharm Private Limited, Synchrogenix, and Trilogy Writing and Consultancy GMBH are a few of the notable companies operating the global medical writing market and profiled in this report.

RECENT MARKET HAPPENINGS:

• ICON Clinical Research Inc. announced in January 2021 that it would expand its Brentwood research activities to create 85 additional employees over the following five years. Pharmaceutical, biotechnology, and medical service companies use ICON Clinical Research's outsourced development services.

• Apttus and HighPoint, an IQVIA firm, established cooperation in March 2020 to bring digital transformation to tech projects in the healthcare and life sciences industries.