Medical Writing Market Emerging Trends to 2027- Lead By Cactus Communications, Certara, Covance, Synchrogenix, and Parexel International

• Published Month : Monday, 01 Jun 2020 01:00 pm

The medical writing market was valued at US$ 2,322.40 million in 2019 and is projected to reach US$ 3,981.8 million by 2027; it is expected to grow at a CAGR of 7.0% during the forecast period.

Medical writing is a form of communication of clinical and scientific information and data in different formats to broad audiences. Medical writers combine their expertise in science and their research skills with an understanding of ways of presenting information and pitch it at the right level for the intended audience. Medical writing is an integral part of drug development and is employed in contract research organizations (CROs), pharmaceutical companies, and communications agencies. North America accounts for the largest share of the global medical writing market. The global market, by type, has been segmented into clinical writing, regulatory writing, scientific writing, and others. In 2018, the clinical writing segment dominated the global medical writing market. Clinical writing is a specialized medical writing adopted by health professionals on a daily basis, and it contains factual information that is essential, accurate, and specific about patient conditions, diagnostics procedures, treatments, and prognoses. Clinical writing differs from other kinds of medical writing as it revolves around patient care. It also has legal implications and can be used as evidence in malpractice or negligence lawsuits. It is written briefly in a cryptic form, and in the cases of charting, it rarely comprises proper or complete sentence structures.

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The global medical writing market is concentrated with a few well-established players, such as Cactus Communications, Certara, Covance, Synchrogenix, and Parexel International Corporation.

The robust growth in CRO outsourcing has been a significant factor contributing to the growth of the medical writing market. A large portion of medical writing is outsourced these days. With an increase in demand for medical writing is leading to the growth of the business of medical writing firms. The quality of documents that are produced by medical writers in a CRO is considered superior to the writers in BPO companies. The medical writings of CRO have greater scientific depth, written in a superior language, and are excellent in presentation. They use topnotch formatting and presentation skills, along with adhering to guidelines. Besides, the documents produced by CROs are delivered on time as they have tight timelines. These factors are leading to the rise in importance of CRO medical writing outsourcing.

The COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace worldwide. Increase in the number of hospitalizations related to COVID cases has significantly necessitated the demand for a number of healthcare products, biomedical devices, and drugs. The increasing number of drugs trials and vaccine research has led to high demand for medical writing services. This represents a significant opportunity for medical writing service providers.

An upsurge in the demand for regulatory framework in pharmaceuticals and biopharmaceuticals industries is a major factors propelling the growth of the medical writing market. To grant approval for any product, regulatory authorities demand detailed methodologies for all the phases of product development. The medical writers who are involved in medical writing understand the requirements and expectations of the regulatory agencies, and they are exposed to different tasks that offer valuable insights in protocol design. The data generated from the clinical trial reflect all the required information about product labeling, provide summaries for statistical and highly complex data, and proffer suggestions for process improvements. The information contained in the medical writings should clear and sound to ensure its easy spread around the audience, and for this reason, the medical writers enhance the speed and quality of specific documentation. The medical writing market based on type is segmented into clinical writing, regulatory writing, scientific writing, and others. On the basis of application, the market is segmented into medical journalism, medical education, medico marketing, and others. The medical writing market based on end user is segmented into pharmaceuticals and biotechnology companies, and contract research organizations (CROs).

Based on product type, the global medical writing market is segmented into clinical writing, regulatory writing, scientific writing, and others. The clinical writing segment held the largest share of the global medical writing market in 2018. Clinical writing is a specialized medical writing adopted by healthcare professionals on a daily basis, and it contains factual information. Clinical writing involves essential, accurate, and specific information on patient conditions, diagnostics procedures, treatments, and prognoses. Clinical writing differs from other types of medical writing as it revolves around patient care. It also has legal implications and can be used as evidence in malpractice or negligence lawsuits. It is written briefly in a cryptic form, and in the cases of charting, it is rarely presented using proper or complete sentence structures. The primary purpose of clinical writing is to form communication between members of the healthcare teams, including unit clerks, laboratory technicians, therapists, care aides, nurses, and doctors. The growing importance of clinical writing in preclinical research, regulatory affairs, clinical laboratory, and data management has spurred the demand for global medical writing services.

The report segments the global medical writing market as follows:

By Type

• Clinical Writing
• Regulatory Writing
• Scientific Writing
• Others

By Application

• Medical Journalism
• Medical Education
• Medico Marketing
• Others

By End User

• Pharmaceutical and Biotechnology Companies
• Contract Research Organizations (CROs)

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