Asia Pacific Medical Affairs Outsourcing Market Size & Outlook
The medical affairs outsourcing market in Asia Pacific is expected to reach a projected revenue of US$ 1,647.4 million by 2030. A compound annual growth rate of 15.1% is expected of Asia Pacific medical affairs outsourcing market from 2023 to 2030.
Asia Pacific medical affairs outsourcing market highlights
The Asia Pacific medical affairs outsourcing market generated a revenue of USD 550.1 million in 2022.
The market is expected to grow at a CAGR of 15.1% from 2023 to 2030.
In terms of segment, medical writing & publishing was the largest revenue generating services in 2022.
Medical Science Liaisons (MSLs) is the most lucrative services segment registering the fastest growth during the forecast period.
Country-wise, Japan is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
Market revenue in 2022
USD 550.1 million
Market revenue in 2030
USD 1,647.4 million
Growth rate
15.1% (CAGR from 2023 to 2030)
Largest segment
Medical writing & publishing
Fastest growing segment
Medical Science Liaisons (MSLs)
Historical data covered
2018 - 2021
Base year for estimation
2022
Forecast period covered
2023 - 2030
Quantitative units
Revenue in USD million
Market segmentation
Medical Writing & Publishing, Medical Monitoring, Medical Science Liaisons (MSLs), Medical Information
Key market players worldwide
IQVIA Holdings Inc, Icon PLC, The Medical Affairs Company, Syneos Health, Thermo Fisher Scientific Inc, Wuxi AppTec Co Ltd, SGS AG, Ashfield Healthcare, ZEINCRO Group, Indegene
Other key industry trends
In terms of revenue, Asia Pacific region accounted for 32.3% of the global medical affairs outsourcing market in 2022.
Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
Asia Pacific is the fastest growing regional market and is projected to reach USD 1,647.4 million by 2030.
The Asia Pacific region held second-largest market share contributing to 31.4% of the share in 2020. The region is also anticipated to register the fastest growth of 13.7% over the forecast period. This is attributed to the improved regulatory landscape, cost savings, growing number of clinical trials conducted in the region, and increasing number of biopharmaceutical companies venturing in the region.
Furthermore, availability of skilled workforce within the region at a lower cost compared to the U.S. is another factor expected to propel growth. Similarly, expansion of established biopharmaceutical companies in the region may increase the demand for various medical affair service providers owing to heterogeneous & complex regulatory environment in the region.
Asia Pacific Medical Affairs Outsourcing Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Medical Affairs Outsourcing Market Outlook will help companies and investors design strategic landscapes.
Medical Writing & Publishing was the largest segment with a revenue share of 41.05% in 2022.
Horizon Databook has segmented the Asia Pacific medical affairs outsourcing market based on medical writing & publishing, medical monitoring, medical science liaisons (msls), medical information covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific region held second-largest market share contributing to 31.4% of the share in 2020. The region is also anticipated to register the fastest growth of 13.7% over the forecast period. This is attributed to the improved regulatory landscape, cost savings, growing number of clinical trials conducted in the region, and increasing number of biopharmaceutical companies venturing in the region.
Furthermore, availability of skilled workforce within the region at a lower cost compared to the U.S. is another factor expected to propel growth. Similarly, expansion of established biopharmaceutical companies in the region may increase the demand for various medical affair service providers owing to heterogeneous & complex regulatory environment in the region.
Asia Pacific Medical Affairs Outsourcing Market Services Outlook (Revenue, USD Million , 2018-2030)
Medical Writing & Publishing
Medical Monitoring
Medical Science Liaisons (MSLs)
Medical Information
Others
Asia Pacific Medical Affairs Outsourcing Market Industry Outlook (Revenue, USD Million , 2018-2030)
Pharmaceutical
Biopharmaceutical
Medical Devices
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific Medical Affairs Outsourcing Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific Medical Affairs Outsourcing Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Asia Pacific Medical Affairs Outsourcing Market, 2018-2030 (US$M)