Medical Writing Market Worth to Reach USD 8.39 Billion With CAGR: 10.5% By 2030
Medical writing is the creation of scientific documents that describe research results, product use, and other medical information. Medical writing involves clinical research documents and content for healthcare websites, health magazines, journals, and news. A professional medical writer writes medical documents and also ensures the information included in that document follows regulatory, journal, or other guidelines in terms of content and structure.
Medical writing is developed by the pharmaceutical and contract research organization industry as it requires special skills to develop well-structured documents. Increasing investments in R&D activities across several industrial verticals are driving the market. These variables have influenced the medicinal writing industry and are anticipated to increase during the forecast period. Medical writing businesses may encounter additional hurdles, such as strict government regulatory laws.
According to the research report published by Polaris Market Research, the global medical writing market was valued at USD 3.58 billion in 2021 and is expected to reach USD 8.39 billion by 2030, to grow at a CAGR of 10.5% during the forecast period.
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Medical Writing Market: Growth Drivers
The recent outbreak of covid-19 affected the growth of the global medical writing market. Growth in CRO outsourcing, growing R&D investments by key players, and a beneficial environment for clinical research in developing nations are the key factors driving the market growth. New medical device guidelines are another factor supporting the growth of the medical writing market. The growing investment by key pharma companies in developing novel technologies is also expected to boost market growth over the forecast period. The rising development of new drugs also flourishes market growth. Moreover, the increasing number of partnerships and collaborations in this market is anticipated to promote market growth.
Medical Writing Market: Report Segmentation
Insight by Type
Based on type, the regulatory writing segment accounted for the largest revenue share in the global medical writing market in 2021. Regulatory medical writing involves documentation for the authorization of medications, devices, and biologics, such as research reports, study protocols, and investigator brochures.
Insight by Application
On the basis of medical journalism, the segment is projected to record the highest CAGR over the forecast period. The journalism segment emphasizes examining and reporting health worries to the target audience, including non-professional or non-expert audiences, as well as healthcare professionals.
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Geographical Overview: Medical Writing Market
By geography, North America witnessed the largest revenue share in the global medical writing market owing to the presence of leading market players and healthcare organizations operating in the R&D of drugs and medical devices and medical publications.
Furthermore, Asia Pacific is expected to generate substantial growth in the medical writing market. This growth can be attributed to the technological developments and adoption of these technologies across the globe. Further, the growing demand for regulatory paperwork in the healthcare industry to deliver drug information is another factor anticipated to fuel the growth of the medical writing market.
Some of the major medical writing market players include Cactus Communication, Cardinal Health, Certara, Covance, Freyer, Icon Plc., InClin Inc., Indegene, InFocusRX, IQVIA, Makrocare, Nucleus Global, OMICS, Parexel, Quanticate, Synchrogenix, Syneos Health, and Trilogy.
In January 2021, ICON Clinical Research Inc. expanded its Brentwood research operations to create 85 new jobs over the next five years. ICON provides clinical research services to the pharmaceutical, biotechnology, and medical device industries.
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Medical Writing Market: By Type Outlook
- Medical Writing
- Scientific Writing
- Regulatory Writing
Medical Writing Market: By Application Outlook
- Medical Education
- Medical Journalism
- Medico Marketing
Medical Writing Market: By End-Use Outlook
- Pharmaceutical Companies
Medical Writing Market: By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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