Medical Affairs Outsourcing Market Report 2024

This Medical Affairs Outsourcing market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The medical affairs outsourcing market size has grown rapidly in recent years. It will grow from $1.67 billion in 2023 to $1.85 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth during the historical period can be attributed to the increasing number of patent expirations, a rise in virtual engagements, greater emphasis on CROs and CMOs, new methods of communication, and the expanding life sciences industry.

The medical affairs outsourcing market size is expected to see rapid growth in the next few years. It will grow to $2.83 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth during the forecast period can be attributed to the rising prevalence of communicable and non-communicable diseases, an increasing number of biopharmaceutical companies, a growing number of clinical trials, a rise in FDA-approved manufacturing plants, and higher demand for real-world evidence. Key trends during this period include the development of new drugs, technological advancements, digital transformation, patient-centric approaches, and the integration of outsourced medical affairs services.

The rising prevalence of infectious diseases is expected to drive growth in the medical affairs outsourcing market. Infectious diseases are those that can spread from one person to another through direct contact, airborne particles, or vectors. The increase in these diseases is attributed to factors such as urbanization, lifestyle changes, limited healthcare access, and environmental influences. Medical affairs outsourcing addresses these challenges by offering expertise in managing clinical trials, enhancing regulatory compliance, and improving medical communication and information, thereby supporting better disease management and intervention strategies. For example, in February 2024, the UK Health Security Agency reported a 10.7% increase in tuberculosis (TB) cases in England, from 4,380 in 2022 to 4,850 in 2023. Consequently, the growing prevalence of infectious diseases is propelling the medical affairs outsourcing market.

Key players in the medical affairs outsourcing market are investing in technological innovations, such as artificial intelligence (AI) and technology-enabled solutions, to improve data management, streamline clinical trials, and enhance regulatory compliance. These advancements aim to increase efficiency and effectiveness in managing disease interventions. For instance, in July 2024, Envision Pharma Group, a UK-based pharmaceutical company, introduced 4Sight Drive, an AI-driven platform utilizing machine learning algorithms to detect trends, forecast outcomes, and support decision-making in medical affairs. The platform processes both structured and unstructured data from various sources, delivers personalized insights, and evolves based on user feedback. By leveraging AI, organizations can refine their medical affairs strategies, enhance stakeholder engagement, and improve patient outcomes.

In November 2022, Millstone Medical Outsourcing, a US-based provider of customized outsourcing solutions for the medical device industry, acquired Ethide Labs for an undisclosed amount. This acquisition aimed to strengthen Millstone's capabilities in regulatory testing services, specifically in ethylene oxide (EO) residual and microbiology testing. Ethide Labs is a US-based company that specializes in laboratory testing services for medical devices.

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.

North America was the largest region in the medical affairs outsourcing market in 2023. 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.

The countries covered in the medical affairs outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Medical affairs outsourcing involves contracting external firms or individuals to manage specific functions related to medical affairs within a company. By outsourcing these functions, companies can gain access to specialized expertise, manage costs more effectively, and concentrate on their core business areas. Outsourcing may involve working with contract research organizations (CROs), medical communication agencies, or other specialized service providers.

The main areas of medical affairs outsourcing include medical writing and publishing, medical monitoring, medical science liaisons (MSLs), medical information, and other related services. Medical writing and publishing involves creating and disseminating scientific documents such as clinical trial reports, regulatory submissions, and research articles to convey medical and scientific information accurately. The software used for these tasks includes both cloud-based and on-premise solutions. These services are employed across various industries, including pharmaceuticals, biopharmaceuticals, and medical devices.

The medical affairs outsourcing market research report is one of a series of new reports that provides medical affairs outsourcing market statistics, including the medical affairs outsourcing industry's global market size, regional shares, competitors with a medical affairs outsourcing market share, detailed medical affairs outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the medical affairs outsourcing industry. This medical affairs outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The medical affairs outsourcing market includes revenues earned by entities by providing services such as regulatory affairs, medical information services, clinical trial support, pharmacovigilance, medical writing, key opinion leader (KOL) management, market access support, and training and education. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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