Medical Affairs Outsourcing Global Market Analysis 2024

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The Global Medical Affairs Outsourcing Market is projected to reach $3.99 billion by 2028, from a value of $1.83 billion in 2022, by registering a CAGR of 13.9% during the forecast period 2022-2028

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Published Year:
2024
Region:
Global
Forecast period:
2021-2027
Report Coverage:

Market Trends and analysis of the crucial market segments across North America, Europe, Asia Pacific and Rest of the World.

Report Format:
PDF

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The Global Medical Affairs Outsourcing Market is projected to reach $3.99 billion by 2028, from a value of $1.83 billion in 2022, by registering a CAGR of 13.9% during the forecast period. An increasing number of orphan therapies used to treat rare diseases, and a rise in the number of clinical trials are the major factors propelling the growth of the market. However, the rise in costs of clinical trials and drug developments are hampering the market growth. Moreover, technological advancements and increases in healthcare expenditure are creating ample opportunities across the globe.

Recent Developments

In Feb 2021, ICON plc acquired PRA Health Sciences Inc as part of a focus on innovative and high-quality clinical trials. Services provided by the acquisition will have a broader geographic reach, a deeper understanding of drug therapies, and wider expertise in healthcare technology innovation. PRA Health Sciences brings to ICON both mobile and connected health platforms with real-world data and information solutions.

In July 2020, Covance, Inc. acquired GlobalCare to expand Covance’s decentralized clinical trials capabilities globally, enabling recruitment and increasing access to trials. Covance will leverage GlobalCare’s mobile healthcare services, site staffing support, patient transport assistance, and contracted central pharmacy services.

In Feb 2020, ICON plc acquired MedPass International, the leading European medical device CRO, regulatory and reimbursement consultancy, that specializes in medical device development and market access. This acquisition further enhances ICON’s Medical Device and Diagnostic Research Services, through the addition of new regulatory and clinical capabilities in Europe.

In April 2019, Cardinal Health acquired mscripts®, a company that delivers patient adherence and engagement solutions through innovative, easy-to-use mobile and web-based health management platforms. The capabilities that gain from the acquisition of mscripts® support patient adherence to prescriptions and improve overall health results.

Competitive Landscape

Quintiles Transnational Corporation, Clinilabs, Inc., PRA Health Sciences, Inc., Excelya, Covance, Inc., Medpace, Inc., ICON plc, Genpact Ltd, PARAXEL International Corporation, Criterium, Inc., WuXi AppTec Group, Pharmaceutical Product Development, LLC, Charles River Laboratories International, Inc., Accell Clinical Research, Promedica International and Cardinal Health are some of the major players in the global Medical Affairs Outsourcing market.

TABLE OF CONTENTS

1 Summary
2 Market Overview
2.1 Abstract
2.2 Research Sources
2.3 Research Findings
2.4 Assumptions
3 Market Dynamics
3.1 Drivers & Opportunities
3.2 Restraints & Threats
3.3 Regulatory Affairs
3.4 Supplychain Analysis
3.5 PORTERS Analysis
4 Competitive Landscape
5 Medical Affairs Outsourcing Market by Application
5.1 Pharmaceutical Products
5.2 Biopharmaceutical Products
5.3 Medical Devices
5.3.1 Therapeutic Medical Devices
5.3.2 Diagnostic Medical Devices
6 Medical Affairs Outsourcing Market by Service
6.1 Medical Monitoring
6.2 Regulatory Consulting and Legal Representation
6.3 Medical Science Liaisons (MSLs)
6.4 Medical Information
6.5 Clinical Trial Applications and Product Registrations
6.6 Medical Writing & Publishing
7 Medical Affairs Outsourcing Market by End User
7.1 Mid- Sized Pharmaceutical Companies
7.2 Biotechnology Companies
8 Medical Affairs Outsourcing Market by Regions
8.1 North America
8.2 Europe
8.3 Asia Pacific
8.4 Rest of the World
9 Company Profiles
9.1 Quintiles Transnational Corporation
9.2 Clinilabs, Inc.
9.3 PRA Health Sciences, Inc.
9.4 Excelya
9.5 Covance, Inc.
9.6 Medpace, Inc.
9.7 ICON plc
9.8 Genpact Ltd
9.9 PARAXEL International Corporation
9.10 Criterium, Inc.
9.11 WuXi AppTec Group
9.12 Pharmaceutical Product Development, LLC
9.13 Charles River Laboratories International, Inc.
9.14 Accell Clinical Research
9.15 Promedica International
9.16 Cardinal Health