Report : North America 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)
Medical Writing and Publishing Segment to Dominate North America Medical Affairs Outsourcing Market during 2020–2027
According to a new market research study on “North America Medical Affairs Outsourcing Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Services and Application” is expected to reach US$ 1,369.08 million by 2027 from 641.58 US$ million in 2020. The market is estimated to grow at a CAGR of 11.4% from 2020 to 2027. The report provides trends prevailing in the North America medical affairs outsourcing market along with the drivers and restraints pertaining to the market growth. Rising number of clinical trials is the major factor driving the growth of the North America medical affairs outsourcing market. However, issues associated with surging costs of drug production and clinical trials hinders the growth of North America medical affairs outsourcing market.
North America medical affairs outsourcing market is segmented into services, application, and country. The North America 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 North America 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 North America medical affairs outsourcing market is segmented into US, Canada, and Mexico. US held the largest market share in 2019.
The COVID-19 outbreak was first observed in December 2019 in Wuhan (China), and it has spread to ~100 countries across the world, with the World Health Organization (WHO) stating it as a public health emergency. The global impacts of COVID-19 are felt across several markets. While SARS, H1N1, and other outbreaks have occurred in the healthcare sector in the last few years, the severity of COVID-19 has made the situation more complicated due to its mode of transmission. North America has experienced a rising number of cases of COVID-19 since its outbreak. The clinical and product development engine has undergone a profound disruption as colleagues adjust to remote work environments and lab capacity is reduced. Clinical trials are also being severely affected by disruptions in both new enrollments and keeping existing patients on therapies. The impact of COVID-19 has placed many regulatory and outsourcing teams under pressure. However, it also has had a positive impact on the bio/pharmaceutical outsourcing industry, wherein the demand for R&D activity is increasing, leading to a rise in medical affairs assistance. This rising demand has caused various CROs to focus on their outsourcing and other operations.
ICON PLC, Indegene, IQVIA Inc, PAREXEL INTERNATIONAL CORPORATION, PPD Inc, Syneos Health, UDG Healthcare plc., and WuXi AppTec are among the leading companies in the North America 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, ICON plc, launched Accellacare a global clinical research network offering patients easier and faster access to creative treatments and offering customers the option to deploy decentralized trials.