Outsourcing to double medical writing market by 2028
DUBLIN, IRELAND — The global medical writing market is expected to reach US$4.73 billion by year-end and grow to US$8.38 billion by 2028, with a 12.1% compound annual growth rate (CAGR).
According to a report by ResearchAndMarkets.com, one of the reasons for the market’s growth is the increased reliance on outsourcing agencies for medical writing services.
Additionally, the rapid progress in medical sciences and emphasis on trial regulations and patent documents are set to contribute to the market’s growth in the next five years.
However, ResearchAndMarkets.com’s report also revealed some challenges in the industry. This includes the lack of standardized guidelines to recognize medical writers’ specific contributions.
Despite this, bright spots remain. Technological advancements are reshaping medical writing, amplified by a growing dependence on online communications. Also, stricter medical device regulations could fuel more growth.
