The Europe medical affairs outsourcing market size was valued at USD 217.1 million in 2019 and expanding at a CAGR of 9.5% over forecast period 2020 to 2027.
The market growth can be attributed to the increase in the number of clinical trials and orphan therapies as well as a rise in the prevalence of rare diseases in Europe.
In addition, pharmaceutical and medical devices companies are outsourcing these services to Contract Research Organizations (CROs) to limit the liability exposure by working with a well-trained outsource company, lower operational costs, reduce regulatory compliance risk, and minimize process delays. Medical affairs service providers have grown significantly in the region owing to rising R&D expenditure and increasing focus of pharmaceutical companies on containing cost.
Biopharmaceutical companies are now ready to outsource their medical affairs activities to achieve better quality and cost. This trend is expected to continue in the future due to the increase in capabilities of CROs to manage each medical affairs function, which would reduce the need for additional efforts of biopharmaceutical companies. Collaborations of pharmaceutical, biopharmaceutical, and medical device companies with CROs are also expected to have a positive impact on the market.
The medical affairs department separates commercial and R&D functions to reduce commercial influence on R&D due to increased scrutiny of the promotion of a therapeutic product by regulatory agencies. It acts as a liaison between the two functions, facilitating the transition of drugs from R&D to commercial. Such stringent regulations are expected to drive the outsourcing of medical affairs activities to more efficient third-parties.
Market Study
Some prominent players in the market include:
Syneos Health Inc.
Ashfield Healthcare Communications
ZEINCRO Group
Wuxi Clinical Development, Inc.
SGS SA
ICON plc
IQVIA Holdings Inc.
The Medical Affairs Company (TMAC)
Indegene
PPD Inc.
Market Segmentation
Services Outlook
Medical Writing & Publishing
Medical Monitoring
Medical Science Liaisons (MSLs)
Medical Information
Others
Industry Outlook
Pharmaceutical
Biopharmaceutical
Medical Devices
Therapeutic Medical Devices
Diagnostic Medical Devices
Country Outlook
Europe
The U.K.
Germany
France
Italy
Spain
Cancer Supportive Care Drugs Market (By Therapeutic Class: G-CSFs, Anti-emetics, ESAs, Bisphosphonates, Opioids, NSAIDs & Others)- Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030
Read more...eHealth Devices Market( By Type: Blood Pressure Meters, Fever Meters, Glucose Meters, Care Phone/Social Alarms)- Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030
Read more...Tracheostomy Products Market (By Demographics: Adults, Paediatrics/Neonatal; By Type: Tracheostomy Tubes, Ventilation Accessories ; By End Use: Hospitals & Surgery Centers, Ambulatory Care Centers, Home Care Settings, Others; By Technique) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030
Read more...Smart Blood Pressure Monitoring Devices Market (By Type: Upper Arm Blood Pressure Monitor, Wrist Blood Pressure Monitor Finger Blood Pressure Monitor; By Technology: Wi-Fi Based/4G, Bluetooth Based)- Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030
Read more...Laparoscopic Electrodes Market (By Application: Bariatric, General Surgeries; By Product: Monopolar, Bipolar Electrodes; By End User: Hospital, Ambulatory)- Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030
Read more...