South 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
SAM include Argentina, Brazil, and the rest of SAM. The market for medical affairs outsourcing in the region is expected to have growth opportunities in both countries. The government funding for the introduction of new Medical Affairs Outsourcing, rising investments in the healthcare sector, Cost efficiency and high level of quality offered by the CROs are projected to drive the medical affairs outsourcing market in Brazil and Argentina. Brazil is the fifth largest country in the world, both by area and by population. The rising spending in the healthcare sector and the pharmaceutical and medical device firms are outsourcing their medical affairs services in order to diverge their business activities and manage product life cycles, and rising demand for clinical trials and its outsourcing services are driving the growth of the medical affairs outsourcing Market in Brazil. Argentina is located in the far of southeast South America. Argentina was not well known as a CRO outsourcing destination until just a few years ago, but the combination of a reasonably good health care infrastructure (importantly including national clinical trial standards that are compatible with international norms) and relative ease of patient recruitment has led to rapid growth in the Argentine CRO industry since 2008. A number of multinational CROs such as Activa, Blanchard &Asociados, Charles River Laboratories, Covance Inc., EGCP, Klixar, LatinClin, and Quintiles already have operations in Argentina (including many recent mergers and acquisitions of local CROs). These companies focus on providing clinical trial services ranging from regulatory consultation to project management and data analysis. Healthcare in Argentina is widely considered to be the highest quality in all Latin American countries. This is likely to provide a conductive scenario for the growth of the medical affairs outsourcing market in the country.
On February 26, 2020, the first case of COVID-19 was detected in Brazil's São Paulo. Since then, the governments in this region have taken various steps to protect their people and reduce the spread of COVID-19. By July 26, Latin America was the region with the highest number of reported cases worldwide, accounting for more than a quarter of the world's cases. South America registered 16,810,346 cases as of February 12, 2021. On June 11, the Government of Sao Paulo, Brazil's Instituto Butantan, signed an agreement with the Chinese laboratory Sinovac Biotech to develop an experimental vaccine against COVID-19. On December 10, President Alberto Fernández launched a national vaccination initiative to distribute 60 million doses in the first six months of 2021. Older people, health care staff, and military personnel will be among the first to obtain immunization. The President also announced an initial procurement of 600,000 Russian Sputnik V vaccine doses to vaccinate 300,000 Argentinians.
Outsourcing is very local in Latin America. Latin America has always been known for its legal and regulatory knowledge, language skills, and compatible time zone with America. Latin America is not caught up with inflation regarding total cost, which promotes a powerful value proposition of providing cost-effective services. When it comes to Spanish and Portuguese language skills, Latin America is probably the only region globally that offers the combination of language skills at scale plus cost savings. This works in favor of US markets due to the huge Spanish population present in the US. Global companies are gaining several regional and business opportunities, especially in large countries such as Brazil and Argentina, where the domestic market is also large (nearly 60–70%). With established regional markets and promises of lower costs, Latin America is considered the fastest-growing destination for offshore services in the healthcare industry.
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Market Overview and Dynamics
The medical affairs outsourcing market in SAM is expected to grow from US$ 78.83 million in 2020 to US$ 157.45 million by 2027; it is estimated to grow at a CAGR of 10.4% from 2020 to 2027. Some of the prominent countries contributing to the growth of male infertility market include Chile, Colombia, Peru, and Bolivia. Escalating research and developments undertakings, coupled with growing spending in the healthcare sector, and Changes in reimbursement scenario and pricing pressure are the factors responsible for the growth of the market. pharmaceutical companies as well as medical device companies are increasing adopting the outsourcing trend in order to reduce expenses. Outsourcing clinical trial services make the tedious process easier, faster, and cheaper thereby increasing the manufacturing processes as well as allowing medical device and pharmaceutical companies to divert their focus on revenue generating areas such as distribution, sales and marketing. Additionally, increasing pressure on the pharmaceutical and medical device giants to improve the return of their investments is further encouraging the outsourcing activities is likely to propel the growth of medical affairs outsourcing market during the forecast years.
Key Market Segments
SAM medical affairs outsourcing market is segmented into services, application, and country. The SAM 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 SAM 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 SAM medical affairs outsourcing market is segmented into Brazil, Argentina, and rest of SAM. Brazil 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 SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ICON PLC, IQVIA Inc, PAREXEL INTERNATIONAL CORPORATION, PPD Inc, Syneos Health, UDG and Healthcare plc.
Reasons to buy report
- To understand the SAM medical affairs outsourcing market landscape and identify market segments that are most likely to guarantee a strong return.
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM medical affairs outsourcing market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in SAM region.
SAM Medical Affairs Outsourcing Market Segmentation
SAM Medical Affairs Outsourcing Market - By Services
- Medical Writing and Publishing
- Medical Science Liaisons (MSLs)
- Medical Information
- Medical Monitoring
- Others
SAM Medical Affairs Outsourcing Market - By Application
- Pharmaceuticals
- Medical Devices
- Biopharmaceutical
SAM Medical Affairs Outsourcing Market - By Country
- Brazil
- Argentina
- Rest of SAM
SAM Medical Affairs Outsourcing Market - Company Profiles
- ICON PLC
- IQVIA Inc
- PAREXEL INTERNATIONAL CORPORATION
- PPD Inc
- Syneos Health
- UDG Healthcare plc.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 SAM Medical Affairs Outsourcing Market – By Services
1.3.2 SAM Medical Affairs Outsourcing Market – By Application
1.3.3 SAM Medical Affairs Outsourcing Market – By Country
2. SAM Medical Affairs Outsourcing Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM Medical Affairs Outsourcing– Market Landscape
4.1 Overview
4.2 SAM PEST Analysis
4.3 Expert Opinions
5. SAM Medical Affairs Outsourcing Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing Number of Clinical Trials in SAM
5.1.2 Outsourcing Activities Becoming More Popular and R&D Spending is Increasing
5.2 Market Restraints
5.2.1 Development and Clinical Trials Costs Gone Up
5.3 Future Trends
5.3.1 Market Consolidation Expanding
5.4 Impact Analysis of Drivers and Restraints
6. Medical Affairs Outsourcing Market – SAM Analysis
6.1 SAM Medical Affairs Outsourcing Market Revenue Forecast and Analysis
7. SAM Medical Affairs Outsourcing Market Analysis – By Services
7.1 Overview
7.2 SAM 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. SAM Medical Affairs Outsourcing Market Analysis – By Application
8.1 Overview
8.2 SAM 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. SAM Medical Affairs Outsourcing Market – Country Analysis
9.1 Overview
9.1.1 SAM: Medical Affairs Outsourcing Market, by Country, 2019 & 2027 (%)
9.1.2 Brazil: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.2.1 Brazil: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.3 Brazil: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)
9.1.4 Brazil: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)
9.1.4.1.1 Brazil: Medical Device Market, by Type, 2018–2027 (USD Million)
9.1.5 Argentina: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.5.1 Argentina: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.6 Argentina: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)
9.1.7 Argentina: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)
9.1.7.1.1 Argentina: Medical Device Market, by Type, 2018–2027 (USD Million)
9.1.8 Rest of SAM: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.8.1 Rest of SAM: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
9.1.9 Rest of SAM: Medical Affairs Outsourcing Market, by Services, 2018–2027 (USD Million)
9.1.10 Rest of SAM: Medical Affairs Outsourcing Market, by Application, 2018–2027 (USD Million)
9.1.10.1.1 Rest of SAM: Medical Device Market, by Type, 2018–2027 (USD Million)
10. Impact of COVID-19 Pandemic on SAM Medical Affairs Outsourcing Market
10.1 SAM: 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 PPD Inc.
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 PAREXEL INTERNATIONAL CORPORATION
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 UDG Healthcare plc
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
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Brazil Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 2. Brazil Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 3. Brazil Medical Device Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 4. Argentina Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 5. Argentina Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 6. Argentina Medical Device Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 7. Rest of SAM Medical Affairs Outsourcing Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 8. Rest of SAM Medical Affairs Outsourcing Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 9. Rest of SAM Medical Device Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 10. Organic Developments Done By Companies
Table 11. Inorganic Developments Done By Companies
Table 12. Glossary of Terms, Medical Affairs Outsourcing Market
LIST OF FIGURES
Figure 1. SAM Medical Affairs Outsourcing Market Segmentation
Figure 2. SAM Medical Affairs Outsourcing Market, By Country
Figure 3. SAM Medical Affairs Outsourcing Market Overview
Figure 4. Medical Writing and Publishing Segment Held Largest Share of Services Segment In SAM Medical Affairs Outsourcing Market
Figure 5. Brazil Is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. SAM PEST Analysis
Figure 7. SAM Medical Affairs Outsourcing Market Impact Analysis of Driver and Restraint
Figure 8. SAM Medical Affairs Outsourcing Market – Revenue Forecast And Analysis – 2019- 2027
Figure 9. SAM Medical Affairs Outsourcing Market Revenue Share, by Services (2019 and 2027)
Figure 10. SAM Medical Writing and Publishing: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. SAM Medical Monitoring: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. SAM Medical Science Liaisons: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. SAM Medical Information: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. SAM Others: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. SAM Medical Affairs Outsourcing Market Share, by Application, 2019 and 2027 (%)
Figure 16. SAM Pharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. SAM Biopharmaceutical: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. SAM Medical Devices: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. SAM Therapeutic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)
Figure 20. SAM Diagnostic Medical Devices: Medical Affairs Outsourcing Market– Revenue and Forecast to 2027 (USD Million)
Figure 21. SAM: Medical Affairs Outsourcing Market, by Key Country – Revenue (2019) (USD Million)
Figure 22. SAM: Medical Affairs Outsourcing Market, by Country, 2019 & 2027 (%)
Figure 23. Brazil: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
Figure 24. Argentina: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
Figure 25. Rest of SAM: Medical Affairs Outsourcing Market – Revenue and Forecast to 2027 (USD Million)
Figure 26. Impact of COVID-19 Pandemic in SAM Market
Figure 27. Growth Strategies Done by the Companies in the Market, (%)
- ICON PLC
- IQVIA Inc
- PAREXEL INTERNATIONAL CORPORATION
- PPD Inc
- Syneos Health
- UDG Healthcare plc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM 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 SAM 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 SAM 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