Surge Anticipated In The Global Medical Writing Market, Forecasted To Reach $5.09 Billion By 2027 As Per The Business Research Company’s Medical Writing Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Dec. 14, 2023 (GLOBE NEWSWIRE) — As per The Business Research Company’s medical writing global market report 2023, the global medical writing market is set for substantial growth, with an anticipated increase from $3.06 billion in 2022 to $3.42 billion in 2023, representing a robust Compound Annual Growth Rate (CAGR) of 11.5%. Looking ahead, the medical writing market is projected to reach $5.09 billion in 2027 at a CAGR of 10.5%.
Rising Development of New Drugs
The medical writing market is poised for significant expansion, driven by the escalating development of novel drugs. Medical writing plays a pivotal role in this landscape by providing essential strategies and techniques for publishing documents crucial in drug development. With the US Food and Drug Administration approving 53 novel drugs in 2020, the growth trajectory of the medical writing market is closely aligned with the burgeoning pharmaceutical landscape and the continuous quest for innovative therapeutic solutions.
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Product Innovation Steers Market Dynamics
Innovation stands as a prominent trend in the medical writing market, with major companies focusing on product development to fortify their market positions. Certara Inc., for instance, launched the New Synchrogenix Writer Software in September 2021, streamlining data mapping and facilitating early writing before database lock. This innovation enhances consistency, reduces risk, and expedites the regulatory filing process, exemplifying the industry’s commitment to technological advancement.
Market Segmentation:
- By Type:
- Clinical Writing
- Regulatory Writing
- Scientific Writing
- Other Types
- By Application:
- Medical Journalism
- Medical Education
- Medico Marketing
- Other Applications
- By End-Use:
- Pharmaceutical Companies
- CRO (Contract Research Organization)
- Other End-Users
North America Dominates; Asia-Pacific Accelerates
In 2022, North America emerged as the largest region in the medical writing market. However, Asia-Pacific is poised to be the fastest-growing region in the forecast period, indicating the global nature of the market’s expansion.
Learn More In-Depth On The Medical Writing Market
https://www.thebusinessresearchcompany.com/report/medical-writing-global-market-report
This comprehensive report on the medical writing market not only projects significant growth but also highlights key drivers and emerging trends. Stakeholders, from industry leaders to investors, can leverage this information to make informed decisions, navigate market dynamics, and capitalize on emerging opportunities. As the medical writing market continues to evolve alongside pharmaceutical advancements, stakeholders stand to gain valuable insights for strategic decision-making.
Medical Writing Global Market Report 2023 by The Business Research Company provides insights on the medical writing market size, medical writing market segments, medical writing market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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