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United States Medical Writing Market to Grow at a CAGR of 10% During 2022-2027, Aided by the Increasing Inclination of the Major Pharmaceutical Companies Towards Non-Core Activities

According to a new report by EMR titled, ‘United States Medical Writing Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 0.9 billion in 2021. The United States medical writing industry is expected to grow at a CAGR of 10% between 2022 and 2027 to reach USD 1.5 billion by 2027.

The United States medical writing market is driven by the increasing inclination of the major pharmaceutical companies towards non-core activities, in which medical writing accounts for a significant share. In addition to this, the aggressive branding and promotion strategies adopted by the pharma and biotechnology companies, which includes social media platforms, is likely to generate significant demand for medical writing in the forecast period. Some other factors propelling the medical writing market in the country include rising spending on public health by the government, rising R&D activities aimed towards impeding chronic cases, growing geriatric population, increasing healthcare awareness, and increasing disposable income, among others. The ongoing development and technological advancements in the healthcare institutes, medical schools, research centres, ambulatory surgical centres, and nursing homes, coupled with the increasing immigration of medical students and doctors to avail better opportunities in the country in the field of healthcare, is anticipated to augment the market in the forecast period. The ongoing drug development processes will further aid the market in the country to curb the growing cases of cancer.

In March 2021, Cardinal Health (NYSE: CAH) announced that the company has signed a definitive agreement with Hellman & Friedman under which Cardinal Health will sell its Cordis business for approximately USD 1 billion.

Market Breakup by Type, Application, and End-Use:

  • The market, based on type, can be divided into clinical writing, regulatory writing, and scientific writing, among others.
  • Based on application, the market is divided into medical journalism, medical education, and medico marketing, among others.
  • The significant end-uses of medical writing include pharmaceutical and biotechnology companies and contract research organisations (CROS), among others.

Key Findings of the Report:

  • The market growth is driven by the growing focus of pharma and biotechnical companies towards out-sourcing non-core activities to enhance the drug development cycle and control costs.
  • The growing inclination of youth towards medical journalism after the COVID-19 pandemic is anticipated to augment the market.
  • The increasing presence of biopharma companies on social media websites, owing to the rising power of social media platforms to spread awareness among the consumers, will bolster the market growth.
  • The market will further be aided by the technological advancements in the healthcare and pharma industry in the United States of America to curb the cases of COVID-19, cancer, and tuberculosis, among others.

Key Offerings of the Report:

  • The EMR report gives an overview of the medical writing market in the United States for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, applications, and end-uses.
  • The report analyses the market dynamics, covering the critical demand and price indicators in the market, and provides an assessment of the SWOT and Porter’s Five Forces models.

The major players in the medical writing market in the United States are Inclin, Inc., Parexel International Corporation., Cardinal Health, Inc., Labcorp Drug Development, MakroCare, Freyr Solutions, Banner Medical, LLC, and BioPoint Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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