Medical Writing Market Forecast, Trends, and Growth 2031

The medical writing market was estimated to be US$ 3.44 billion in 2021 and US$ xx billion in 2023. It is expected to reach US$ 9.09 billion by 2031 and record a CAGR of 10.2% until 2031. Development of new regulatory writing, demand for specialized skills, and integration of AI and machine learning tools in medical writing will likely remain key medical writing market trends.

Medical Writing Market Analysis

Growing demand for regulatory framework in the pharmaceutical and biopharmaceutical industry is expected to grow the medical writing market. Regulatory authorities require detailed methodologies for all the phases of product development to get approval for any product in the pharmaceutical and biopharmaceutical industries. This makes the process tedious. Insurance providers demand all necessary information about drugs to determine reimbursement policies. Therefore, it becomes challenging for pharmaceutical and biopharmaceutical companies to keep up with the industry norms. Therefore, the pharmaceutical and biopharmaceutical industries employ medical writers. The medical writers understand the expectations and requirements of the regulatory agencies, and are exposed to different tasks that offer valuable insights into protocol design.

Medical Writing Market Overview

The global medical writing market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The market growth in this region is expected due to factors such as growing need for well documented clinical trials, regulatory submissions, and increase in in CRO outsourcing. However insufficiency in skilled workforce of medical writers are likely to hamper the market growth during the forecast period.

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Medical Writing Market: Strategic Insights

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Medical Writing Market Drivers and Opportunities

Robust Growth In CRO Outsourcing is Likely to Favor The Market.

A major portion of medical writing is outsourced globally. The demand for medical writing is expected to grow, and so is the supply of medical writing providers. The quality of documents produced by medical writers in a CRO is considered superior to that of writers in BPO companies. The medical writings of CRO have excellent presentation, greater scientific depth, and are well written in a superior language. They are high scorers in terms of presentation, formatting, and adherence to guidelines. Besides, the medical writings by CROs are delivered on time as they have tight timelines. Owing to these factors, the outsourcing of CRO medical writing is gaining importance.

Emerging Markets – An Opportunity in Medical Writing Market

The medical writing industry is expected to witness significant growth in emerging markets owing to the flourishing healthcare industry and a large pool of potential medical writers. As per the IBEF 2021 healthcare report, the Indian healthcare sector is one of India’s largest employer sectors and employs around 4.7 million people. The sector generated 2.7 million additional jobs in India between 2017-22, which is approximately 500,000 new jobs every year.

Medical Writing Market Report Segmentation Analysis

Key segments that contributed to the medical writing market analysis derivation are services and applications.

• Based on type, the medical writing market is segmented into clinical writing, regulatory writing, scientific writing, and others. In 2023, the clinical writing segment held the largest share of the market. Moreover, the regulatory writing segment is expected to grow at the fastest rate during the forecast period.
• By application, the medical writing market is segmented into medical journalism, medical education, medico marketing, and others. The medical education segment held the largest share of the market in 2023, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
• The medical writing market has been segmented by end-user into pharmaceutical & biotechnology companies and contract research organizations (CRO). In 2023, the pharmaceutical and biotechnology segment held the largest share of the market by end user. Moreover, the contract research organizations (CRO) segment is expected to grow fastest during the forecast period.

Medical Writing Market Share Analysis by Geography

The geographic scope of the medical writing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

North America includes US, Canada, and Mexico. North America holds the most significant share in the medical writing market, with the US holding the largest market share, followed by Canada. The US holds the largest share of the medical writing market attributed to the growing pharmaceutical industry, and stringent regulatory for the pharmaceutical and biopharmaceutical industry.

Asia Pacific region is expected to be the fastest-growing region among all other regions. The growth of the market in the Asia Pacific region is expected to grow at a faster pace owing to factors such as expanding healthcare industry, large talent pool, and cost-effective medical writing services.

Medical Writing Market Regional Insights

The regional trends and factors influencing the Medical Writing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Medical Writing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Medical Writing Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Medical Writing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Medical Writing Market are:

1. Cactus Communications
2. Certara
3. Covance
4. Freyr Solutions
5. InClin Inc
6. Parexel International Corporation

Disclaimer: The companies listed above are not ranked in any particular order.

Medical Writing Market News and Recent Developments

The medical writing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for medical writing and strategies:

• In April 2024, Cactus Life Sciences, a leading scientific communications agency that works with blue chip pharma and biotechnology companies, acquired nspm and eluSCIdate, two dynamic medical communications companies headquartered in Switzerland. (Source: Company Press Release)
• In October 2023, Certara, Inc., a global leader in biosimulation software and advanced drug development solutions, launched CoAuthor, a writing software suite designed to revolutionize the creation and review of critical clinical trial documents in the pharmaceutical industry. (Source: Company Press Release)

Medical Writing Market Report Coverage and Deliverables

The “Medical Writing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles