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The medical writing market size is estimated to grow by USD 1.18 billion, at a CAGR of 6.45% between 2023 and 2028. The market is experiencing significant growth due to several key factors. First, the increase in the number of clinical trials necessitates the production of comprehensive and accurate reports. These documents require the expertise of skilled medical writers to ensure their scientific validity and regulatory compliance. Second, the increasing demand for training of healthcare providers creates a need for educational materials that are clear, concise, and engaging. Medical writers play a crucial role in developing training materials that meet the unique needs of various healthcare professionals. Third, the integration of advanced technologies in healthcare, such as telemedicine and electronic health records, necessitates the creation of user-friendly and effective documentation. Medical writers are essential in creating instructions, manuals, and other materials that enable healthcare providers to utilize these technologies efficiently and effectively. In summary, the market is thriving due to the growing demand for clinical trial reports, healthcare provider training materials, and documentation for advanced healthcare technologies. Medical writers are indispensable in ensuring the scientific accuracy, regulatory compliance, and user-friendliness of these documents.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Cactus Communication - The company offers medical writing services that provides impactful and engaging content tailored to the needs of multiple stakeholders.
Cactus Communication, Cardinal Health Inc., Certara Inc., Clinovo, Freyr Software Services, ICON plc, InClin Inc., Indegene Pvt. Ltd., IQVIA Holdings Inc., MakroCare, OMICS International Pvt. Ltd., Quanticate International Ltd., SIRO Clinpharm Pvt. Ltd., Syneos Health Inc., and Trilogy Writing and Consulting GmbH
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the clinical writing segment will be significant during the forecast period. Clinical writing is the type of writing that health professionals use every day. Examples of clinical writing include preparing progress/treatment notes in medical records, updating patient charts, preparing letters for consultation and referrals, and filling various administrative forms. It conveys important, precise, and concrete information about a patients condition, diagnostic procedures, treatment, and prognosis.
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The clinical writing segment was the largest segment and was valued at USD 1.44 billion in 2018. Further, the main difference between clinical writing and other types of medical writing is that clinical writing has an impact on patient care. Clinical writing also has legal ramifications and can be adduced in malpractice and negligence lawsuits. Increasing clinical trials is a major reason for the increasing demand for clinical writing. The year 2023 witnessed many groundbreaking new drug launches, including the first successful Phase III trial of CRISPR-based gene therapy, as well as another drug for Alzheimer's disease that demonstrated effectiveness in disease progression. All these factors are expected to increase demand for clinical writing, which will contribute to the growth of the clinical writing segment in the market during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and drivers will shape the market during the forecast period. North America leads clinical trials and research, with the requirement of high-quality, timely, and actionable healthcare systems and the availability of patient data. The region is experiencing high investments in clinical trials and research due to the increasing prevalence of diseases across the world. The US government is investing in clinical trials and research to provide effective pharmaceutical treatment with low side effects. The Centers for Disease Control and Prevention (CDC), the National Institutes of Health (NIH), and the US Department of Health and Human Services are funding various health programs. The growing investments in medical research and trials are leading to a large number of medical writings to fill the gap between research and practice. With the help of medical writing, healthcare service providers can use the information regarding clinical trials for improved treatment and care for patients.
In addition, another reason for the growth of the market in North America is the presence of many universities with a vast medical sciences research background, such as Stanford University, Harvard University, Yale University, Princeton University, the University of Pennsylvania, Columbia University, the University of Chicago, Brown University, Dartmouth College, Cornell University, Pomona College, and Georgetown University. These universities conduct research and publish a variety of medical journals and medical books. Such factors are expected to drive the regional market growth during the forecast period.
Physicians play a vital role in healthcare, relying on accurate drug-related information and clinical data management to make informed decisions. Medical writing sessions and Internship Forums offer platforms for aspiring professionals to delve into areas like regulatory paperwork preparation and study protocols development, crucial aspects in navigating medical device regulations and ensuring compliance in the field. In the realm of biologics and agriculture biotechnology, bioinformatics plays a pivotal role in analyzing complex data sets, guiding research endeavors towards innovative solutions. Effective medical writing is essential in conveying scientific findings and regulatory requirements to diverse audiences, including physicians and regulatory bodies. As the healthcare landscape evolves, interdisciplinary collaboration between physicians and experts in clinical data management and bioinformatics becomes increasingly important in driving medical advancements and improving patient outcomes. The startup secured funding in its Series A investment round to further develop its groundbreaking autologous molecule therapy, while also offering opportunities for aspiring medical writers to enhance their skills through participation in a medical writing session and internship forum available on the internet, fostering the next generation of talent in medical journalism.
An increase in the number of clinical trials is the key factor driving the growth of the market. Pharmaceutical, biotechnology, and medical device companies are increasingly investing in R and D in the healthcare sector. Healthcare service providers are expanding their operations to medical device manufacturing and the development of customized drugs to understand and cure life-threatening diseases effectively. The growing investments in the R and D of new drugs are resulting in the need to perform clinical trials to ensure product safety and effectiveness. New treatments and drugs are required to undergo clinical trials, which are necessary for pharmaceutical companies to achieve regulatory approval for drugs and devices. The companies are required to follow regulations for maintaining data transparency and publishing the results of clinical trials.
Moreover, pharmaceutical companies write and publish copies of their clinical trial procedures on government medical websites such as www.clinicaltrials.gov and www.clinicaltrialsregister.eu to ensure data transparency. They also publish the results of clinical trials irrespective of the outcome. The results help researchers in analyzing the performance methods and avoid unnecessary steps in trials. Government regulations such as Clinical Trial Regulation (Regulation EU No 536/2014) compel healthcare service providers and clinical trial sponsors to publish the results of trials within one year of completion. The increasing need for medical writing and publishing clinical trials performed by healthcare service providers and clinical sponsors is driving the demand for medical writing. This is expected to drive the growth of the global market during the forecast period.
The increasing adoption of AI in medical writing is an emerging trend shaping market growth. There have been many advances in medical writing tools and technologies over the years. To stay ahead in the market field, medical writing providers must stay up-to-date to meet the needs of users and create technically, scientifically, and/or clinically accurate regulatory documents. Medical writing is being revolutionized by the rise of artificial intelligence (AI). AI-powered tools help medical writers create accurate, evidence-driven content quickly. For instance, AI-powered medical writing can quickly analyze a patient's electronic health record (EHR) to generate a personalized medical report, or they can automatically curate a literature review for research articles to improve efficiency.
Additionally, one of the most promising uses for AI in medical writing has to do with the automation of regulatory document creation. By analyzing existing regulatory documents and guidance, NLP algorithms can create new documents automatically, saving writers time and effort. Increasing demand for automation in medical writing is inspiring vendors to develop products incorporated with AI. Such factors are likely to positively affect the growth of the market during the forecast period.
Data security and privacy concerns associated with medical writing are a significant challenge hindering market growth. The increase in the number of cyberattacks in the healthcare industry has raised considerable concerns over privacy and data protection among players and end-users of medical writing in the industry, including hospitals, clinics, and insurance companies. For instance, in July 2021, Forefront Dermatology, a US-based healthcare provider, reported a data breach of its network, which exposed the medical records of up to 2.4 million patients. Furthermore, in August 2021, Eskenazi Health reported a ransomware attack on its IT system, which led to the temporary shutdown of its EHR system.
Additionally, the quantity of data available electronically has increased dramatically in terms of complexity and diversity and is commonly referred to as big data. Growing concerns over the security and privacy of sensitive information that the data contains have increased in the past decade due to the growing incidents of cyberattacks and the use of technologies, such as clinical mobility and wireless networking, cloud computing, and information exchange. There is a high chance of data leaks in medical writing. Hence, concerns over data security are expected to hinder the growth of the market during the forecast period.
The market forecast report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market forecasting and growth strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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Regulatory medical writing services encompass a broad spectrum of activities crucial in the healthcare industry. These services involve creating various documents such as patient information leaflets, scientific manuscripts, and regulatory submissions adhering to stringent medical apparatus regulations. Contract research organizations (CROs) specialize in providing comprehensive support in this realm, assisting in the preparation of regulatory paperwork and study protocols for regulatory submissions like IND (Investigational New Drug) applications. The market landscape depends on the Solid tumors, Coronavirus, Investigator brochures, Developing regions, Device technology, Medical publications. Moreover, they contribute to scientific writing through the development of conference papers and instructional and communication material for medical education purposes. As the medical gas equipment market continues to expand, scientific data and evidence-based medicine play pivotal roles in shaping medication innovations and clinical data management strategies. Furthermore, biologics research, coupled with advancements in genetic engineering and bioinformatics, holds promise for revolutionizing AML (Acute Myeloid Leukemia) treatment and other medical fields, driving healthcare expenditure toward transformative therapies.
Market Scope |
|
Report Coverage |
Details |
Page number |
146 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.45% |
Market growth 2024-2028 |
USD 1.17 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.31 |
Regional analysis |
North America, Asia, Europe, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, Germany, UK, China, and India |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Cactus Communication, Cardinal Health Inc., Certara Inc., Clinovo, Freyr Software Services, ICON plc, InClin Inc., Indegene Pvt. Ltd., IQVIA Holdings Inc., MakroCare, OMICS International Pvt. Ltd., Quanticate International Ltd., SIRO Clinpharm Pvt. Ltd., Syneos Health Inc., and Trilogy Writing and Consulting GmbH |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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