Medical Affairs Outsourcing Market Size, Share & Trends Report

Medical Affairs Outsourcing Market Size, Share & Trends Analysis Report By Service (Medical Writing & Publishing, Medical Monitoring, Medical Science Liaisons, Medical Information, Others), By Industry, By Region And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-3-68038-891-6
  • Number of Report Pages: 120
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the medical affairs outsourcing market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for medical affairs outsourcing market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of medical affairs outsourcing market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Medical Affairs Outsourcing Market Categorization:

The medical affairs outsourcing market was categorized into three segments, namely service (Medical Writing & Publishing, Medical Monitoring, Medical Science Liaisons, Medical Information), industry (Pharmaceutical, Biopharmaceutical, Medical Devices), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The medical affairs outsourcing market was segmented into service, industry, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The medical affairs outsourcing market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Denmark; Sweden; Norway; China; India; Japan; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa, Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Medical affairs outsourcing market companies & financials:

The medical affairs outsourcing market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • ICON, plc is a contract research organization, providing clinical, consulting & commercialization services worldwide. It specializes in the strategic development management, and analysis of programs that supports clinical development ranging from the selection of a compound to phase I to phase IV clinical studies. It also provides functional outsourcing & laboratory service, consisting of a range of high-value testing services including vaccine, biomarker, good manufacturing practice, bioanalytical & central laboratory services. Moreover, it offers full-service & functional service partnerships to customers. Furthermore, the company services are available globally due to network of offices in 40 countries.

  • IQVIA provides a healthcare and integrated information & technology-enabled services in North America, Europe, Asia Pacific, and Africa. The company consists of three business segments include R&D , commercialization, and technology solutions. The R&D solutions segment offers biopharmaceutical development services, comprising clinical trials, strategic planning & design services, genomic, bioanalytical laboratory services, and project management, along with clinical monitoring. The company caters to biotechnology, healthcare, pharmaceutical, and device & diagnostic companies.

  • The Medical Affairs Company provides medical affairs services to pharmaceutical, biotechnology, diagnostic, and medical device companies. The company offerings include contract Medical Science Liaisons (MSLs), Clinical Nurse Educators (CNEs), clinical specialists, clinical trial liaisons, managed care liaisons, and medical writing & medical information services.

  • Syneos Health was initiated after the merger of INC Research and inVentiv Health. It is a leading biopharmaceutical solutions organization that provides a complete suite of clinical & commercial services to biotechnology, biopharmaceutical, and medical device industries. It operates through two business segments such as clinical and commercial solutions. It provides standalone and integrated biopharmaceutical product development solutions via CROs and contract commercial organizations. The company is present in more than 110 countries.

  • Pharmaceutical Product Development (PPD), Inc. introduces drug discovery & development, post approval services and compound partnering programs for the customers. It caters to pharmaceuticals, medical device companies, biotechnology institutions, government organizations, and academic institutions. In December 2011, Carlyle Group in affiliation with Hellman & Friedman acquired PPD, Inc. for USD 3.9 billion. The company offers services in Key therapeutic areas include cardiology, critical care, dermatology, hematology, oncology, pulmonology, and urology.

  • Ashfield Healthcare is part of UDG Healthcare PLC. It is one of the leading healthcare communication companies, operating through various segments such as advisory, healthcare communication, commercial, patient solutions, and medical affairs. In the medical affairs business segment, it offers different services such as medical information, MSLs, healthcare communications, insight & performance, and meetings & events.

  • ZEINCRO Group is a contract research organization (CRO) with its primary focus on southeastern and Central Europe. It offers interventional studies (from phase I to IV), late-phase services, regulatory affairs, pharmacovigilance & safety, medical affairs, and quality assurance services. If we consider medical affairs business segment of the company, it provides medical writing, medical monitoring, training, market research & strategic planning, and medical support.

  • WuXi AppTec contributes to the contract R&D outsourcing services for medical device, biotechnology, and pharmaceutical companies. The primary pharmaceutical services include safety pharmacology, pharmacokinetics, bioanalysis, drug metabolism, and medicinal & analytical chemistry. Moreover, it offers biocompatibility testing, preclinical services, toxicology testing, package & validation testing, genetic toxicology, and material characterization services. It operates as a subsidiary of WuXi PharmaTech (Cayman), Inc. The company has a strategic collaboration with REGENXBIO, Inc. & MedImmune LLC and has a medical device testing center in China.

  • SGS SA is a Switzerland-based company that provides quality assurance, inspection, testing, and certification services worldwide. It operates under nine reportable segments include agriculture, food & life, minerals; oil, gas, & chemicals, consumer retail, certification & business enhancement, industrial, environment, health, & safety, transportation, and governments & institutions. It offers inspection and product testing services to control quantity & quality and reduce exposure to risks. It also provides verification and certification services to enable its customer’s products in line with international standards, outsourcing, consulting, & data analytic services.

  • Indegene is one of the leading healthcare solution companies that helps to address complex challenges by seamlessly integrating analytics, technology, operations, and medical expertise (ATOM). It offers medical, risk, clinical effectiveness, healthcare quality, marketing, and care & management solutions through a broad porfolio of solutions as well as technology platforms. It works with more than 85 international customers, including manufacturers of medical devices, biotechnology companies, life sciences organizations, accountable care organizations, health plans, and healthcare coops.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Medical Affairs Outsourcing Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Medical Affairs Outsourcing Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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