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)
Market Introduction
The North America Medical Affairs Outsourcing Market is segmented into the US, Canada, and Mexico. The US held the largest share of the North American medical affairs outsourcing market in 2019. Increasing demand for clinical trials, growing pharmaceutical and medical device industries, increasing healthcare expenditure, high R&D spending, and the presence of well-known market players are some of the prominent factors propelling the market growth. In Canada, the market is expected to grow in a faster pace, owing to the development of the healthcare systems, high quality medical services, and presence of expert research clinicians. Moreover, Mexico is likely to experience growth opportunities in medical affairs outsourcing market due to growing pharmaceutical and medical device industries and diverse demographic profile for clinical trial in the region.
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.
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Market Overview and Dynamics
The medical affairs outsourcing market in North America is expected to grow from US$ 641.58 million in 2020 to US$ 1,369.08 million by 2027; it is estimated to grow at a CAGR of 11.4% from 2020 to 2027. The contract research organization (CRO) services’ industry is highly fragmented, with several hundred small and medium-sized limited-service providers, and a small number of large, full-service, North America CROs. There are few barriers to entry for smaller CROs into the North America market, whereas a full-service CRO with capabilities requires building the necessary infrastructure with the ability to simultaneously manage multiple complex testing services across numerous geographies, establishing the requisite relationships with strategic partners, developing relevant therapeutic and development of expertise to serve the needs of the end users. Over the past few years, the consolidation across the industry is an emerging trend followed by the majority of the prime players to strengthen their service offerings and garner the major market share in the North America CRO market. For instance, For instance, Parexel International Corp. acquired The Medical Affairs Company in 2017.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the medical affairs outsourcing market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ICON PLC, Indegene, IQVIA Inc, PAREXEL INTERNATIONAL CORPORATION, PPD Inc, Syneos Health, UDG Healthcare plc., and WuXi AppTec.
Reasons to buy report
- To understand the North America medical affairs outsourcing market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America medical affairs outsourcing market.
- Efficiently plan M&A and partnership deals in North America medical affairs outsourcing market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America medical affairs outsourcing market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Medical Affairs Outsourcing Market Segmentation
North America Medical Affairs Outsourcing Market - By Services
- Medical Writing and Publishing
- Medical Science Liaisons (MSLs)
- Medical Information
- Medical Monitoring
- Others
North America Medical Affairs Outsourcing Market - By Application
- Pharmaceuticals
- Medical Devices
- Biopharmaceutical
North America Medical Affairs Outsourcing Market - By Country
- US
- Canada
- Mexico
North America Medical Affairs Outsourcing Market - Company Profiles
- ICON PLC
- Indegene
- IQVIA Inc
- PAREXEL INTERNATIONAL CORPORATION
- PPD Inc
- Syneos Health
- UDG Healthcare plc.
- WuXi AppTec
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Medical Affairs Outsourcing Market – By Services
1.3.2 North America Medical Affairs Outsourcing Market – By Application
1.3.3 North America Medical Affairs Outsourcing Market – By Country
2. North America Medical Affairs Outsourcing Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Medical Affairs Outsourcing– Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Expert Opinions
5. North America Medical Affairs Outsourcing Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising Number of Clinical Trials
5.1.2 Increasing Acceptance of Outsourcing Activities Coupled with Growing R&D Expenditures
5.2 Market Restraints
5.2.1 Surging Costs of Drug Production and Clinical Trials
5.3 Future Trends
5.3.1 Market Consolidation on Rise
5.4 Impact Analysis of Drivers and Restraints
6. Medical Affairs Outsourcing Market – North America Analysis
6.1 North America Medical Affairs Outsourcing Market Revenue Forecast and Analysis
7. North America Medical Affairs Outsourcing Market Analysis – By Services
7.1 Overview
7.2 North America Medical Affairs Outsourcing Market Revenue Share, by Services (2019 and 2027)
7.3 Medical Writing and Publishing
7.3.1 Overview
7.3.2 Medical Writing and Publishing: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Medical Monitoring
7.4.1 Overview
7.4.2 Medical Monitoring: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Medical Science Liaisons (MSLs)
7.5.1 Overview
7.5.2 Medical Science Liaisons: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Medical Information
7.6.1 Overview
7.6.2 Medical Information: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
8. North America Medical Affairs Outsourcing Market Analysis – By Application
8.1 Overview
8.2 North America Medical Affairs Outsourcing Market Share, by Application, 2019 and 2027, (%)
8.3 Pharmaceutical
8.3.1 Overview
8.3.2 Pharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Biopharmaceutical
8.4.1 Overview
8.4.2 Biopharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Medical Devices
8.5.1 Overview
8.5.2 Medical Devices: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
8.5.3 Therapeutic Medical Devices
8.5.3.1 Overview
8.5.3.2 Therapeutic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)
8.5.4 Diagnostic Medical Devices
8.5.4.1 Overview
8.5.4.2 Diagnostic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)
9. North America Medical Affairs Outsourcing Market – Country Analysis
9.1 Overview
9.1.1 North America: Medical Affairs Outsourcing Market, by Country, 2019 & 2027 (%)
9.1.2 US: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.2.1 US: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.2.2 US: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)
9.1.2.3 US: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)
9.1.2.3.1 US: Medical Devices Market, by Type, 2018–2027 (USD Million)
9.1.3 Canada: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.3.1 Canada: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.3.2 Canada: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)
9.1.3.3 Canada: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)
9.1.3.3.1 Canada: Medical Devices Market, by Type, 2018–2027 (USD Million)
9.1.4 Mexico: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.4.1 Mexico: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.4.2 Mexico: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)
9.1.4.3 Mexico: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)
9.1.4.3.1 Mexico: Medical Devices Market, by Type, 2018–2027 (USD Million)
10. Impact of COVID-19 Pandemic on North America Medical Affairs Outsourcing Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Medical Affairs Outsourcing Market– Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 ICON PLC
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 IQVIA Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Syneos Health
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 WuXi AppTec
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 PPD Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 PAREXEL INTERNATIONAL CORPORATION
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Indegene
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 UDG Healthcare plc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. R&D Investments by major pharmaceutical companies
Table 2. Top 10 Pharmaceutical R&D Spenders,2019
Table 3. US Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 4. US Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 5. US Medical Devices Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 6. Canada Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 7. Canada Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 8. Canada Medical Devices Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 9. Mexico Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 10. Mexico Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 11. Mexico Medical Devices Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 12. Organic Developments Done By Companies
Table 13. Inorganic Developments Done By Companies
Table 14. Glossary of Terms, North America Medical Affairs Outsourcing Market
LIST OF FIGURES
Figure 1. North America Medical Affairs Outsourcing Market Segmentation
Figure 2. North America Medical Affairs Outsourcing Market, By Country
Figure 3. North America Medical Affairs Outsourcing Market Overview
Figure 4. Medical Writing and Publishing Segment Held Largest Share of Services Segment In North America Medical Affairs Outsourcing Market
Figure 5. US Is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. North America PEST Analysis
Figure 7. North America Medical Affairs Outsourcing Market Impact Analysis of Driver and Restraint
Figure 8. North America Medical Affairs Outsourcing Market – Revenue Forecast And Analysis – 2019- 2027
Figure 9. North America Medical Affairs Outsourcing Market Revenue Share, by Services (2019 and 2027)
Figure 10. North America Medical Writing and Publishing: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. North America Medical Monitoring: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. North America Medical Science Liaisons: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Medical Information: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. North America Others: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. North America Medical Affairs Outsourcing Market Share, by Application, 2019 and 2027 (%)
Figure 16. North America Pharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America Biopharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. North America Medical Devices: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. North America Therapeutic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)
Figure 20. North America Diagnostic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)
Figure 21. North America: Medical Affairs Outsourcing Market, by Key Country – Revenue (2019) (USD Million)
Figure 22. North America: Medical Affairs Outsourcing Market, by Country, 2019 & 2027 (%)
Figure 23. US: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
Figure 24. Canada: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
Figure 25. Mexico: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
Figure 26. Impact of COVID-19 Pandemic in North American Country Markets
Figure 27. Growth Strategies Done by the Companies in the Market, (%)
- ICON PLC
- Indegene
- IQVIA Inc
- PAREXEL INTERNATIONAL CORPORATION
- PPD Inc
- Syneos Health
- UDG Healthcare plc.
- WuXi AppTec
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America medical affairs outsourcing market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America medical affairs outsourcing market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the medical affairs outsourcing market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution