Report : Middle East & Africa Medical Affairs Outsourcing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Services (Medical Writing and Publishing, Medical Monitoring, Medical Science Liaisons (MSLs), Medical Information, and Others) and Application (Pharmaceutical, Biopharmaceutical, and Medical Devices)
Pharmaceutical Segment is Expected to be Fastest Growing During the Forecast Period for MEA Region
According to a new market research study on “MEA Medical Affairs Outsourcing Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Services and Application” is expected to reach US$ 92.37 million by 2027 from 46.99 US$ million in 2020. The market is estimated to grow at a CAGR of 10.1% from 2020 to 2027. The report provides trends prevailing in the MEA medical affairs outsourcing market along with the drivers and restraints pertaining to the market growth. Clinical trials on rise is the major factor driving the growth of the MEA medical affairs outsourcing market. However, issues associated with escalating costs of drug development and clinical trials hinders the growth of MEA medical affairs outsourcing market.
MEA medical affairs outsourcing market is segmented into services, application, and country. The MEA medical affairs outsourcing market, by services, is segmented into medical writing and publishing, medical monitoring, medical science liaisons (MSLs), medical information, and others. The medical writing and publishing segment held the largest share of the market in 2019. Based on application, the MEA medical affairs outsourcing market is segmented into pharmaceutical, biopharmaceutical, and medical devices. The medical devices market is further segmented into therapeutic medical devices, and diagnostic medical devices. The pharmaceutical segment held the largest share of the market in 2019. Based on country, the MEA medical affairs outsourcing market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA. South Africa held the largest market share in 2019.
The countries in the MEA region have taken precautionary measures and imposed stringent regulations to control the spread of COVID-19. Countries such as the UAE, Saudi Arabia, Jordan, Iraq, and Iran have strictly imposed lockdowns. The majority of the countries in the region are dependent on other regions for medical devices and other products. As a result of the COVID-19 crisis, the World Bank forecasts that remittances to the MENA region are projected to fall sharply by 19.6%, after a total of US$ 42 billion in 2020 after a 2.6% increase in 2019. MENA countries and the global community also have a role to play in tackling COVID-19. For the first time in decades, MENA countries are facing a common issue with no political or religious agenda. The advent of high-throughput screens of approved compounds and small molecules has allowed researchers to effectively evaluate large drug libraries for their in vitro antiviral activity against novel targets. Russia has developed a new treatment for the COVID-19 patients and will soon conduct a trial in partnership with Saudi Arabian health. The current pharmaceutical markets in the MENA region vary significantly between different nations. For example, high spending power and a cultural preference for expensive foreign brands in Saudi Arabia have resulted in 85% of pharmaceuticals being imported. In contrast, 90% of the consumption in Egypt is domestically produced, with a much greater market share for generics. In recent years, South Africa has turned increasingly to generic drugs, providing an excellent opportunity for domestic and foreign manufacturers. Medical affairs play a pivotal role in overcoming barriers to accessing healthcare professionals (HCPs). Moreover, compliance requirements mean medical affairs is responsible for providing HCPs with real-time, unbiased, and transparent medical information in the MEA.
ICON PLC, IQVIA Inc, PAREXEL INTERNATIONAL CORPORATION, PPD Inc, Syneos Health, UDG and Healthcare plc. are among the leading companies in the MEA medical affairs outsourcing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, PPD, Inc. (PPD) has expanded its operations and leadership team in China to provide enhanced laboratory, regulatory, clinical development, patient access, site conduct, and post-approval services for international and China-based biopharmaceutical companies.