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The medico marketing segment is anticipated to register the highest CAGR in the market during 2020–2027

ReportLinker
·4 min read

The North America medical writing market is expected to reach US$ 1,266. 23 million by 2027 from US$ 732. 95 million in 2019; it is anticipated to grow at a CAGR of 7. 1% during 2020–2027. The growth of the North America medical writing market is attributed to the increasing requirement of medical writers due to stringent regulatory framework and robust growth in clinical trials.

New York, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Medical Writing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type ; Application ; End User ; and Country" - https://www.reportlinker.com/p05999773/?utm_source=GNW
However, the lack of skilled medical writers restrains the market growth.
Medical writers apply the principles of clinical research while developing clinical trial documents that provide details on research results, product use, and other medical information.The medical writers also ensure that their documents comply with regulatory, journal, or other guidelines in terms of content, structure, and format.

The need for medical writing in medical education, regulation, and industrial fields is rising. Further, the demand for medical writing is growing due to increasing number of drugs, biomedical, and other pharmaceutical product launches.
Medical writers play a critical role in the communication process by outlining the goals, strategies, analysis, and medical understanding of a clinical trial/program to patients, sponsors, and regulatory agencies.The writing teams also prepare clinical documents such as organizational organizational protocols, clinical study reports (CSRs), and investigator’s brochures.

As per the statistics provided by the National Clinical Trials Summit, academic healthcare organizations in Canada earned ~US$ 300 million clinical trial revenue through clinical trial contracts during 2007–2008.Since then, the demand for medical writing is growing in Canada due to increasing number of medical trials.

Pharmaceutical is one of the most highly regulated industries in the world as it comprises various complex processes such as clinical trials, regulatory submissions, and drug marketing.Medical writing experts are also trained to prepare documents that companies submit to regulatory authorities to seek approval for drugs [known as New Drug Application (ANDA)], devices, and nutraceuticals (for health claims).

Clinical trials are required to launch new drugs into the market, and medical writing plays an essential role to present the data of these trials in a precise and unambiguous manner.
The COVID-19 cases are rising exponentially across North America.According to the Worldometer data as of November 2020, the US reported 10,708,728 COVID-19 cases with 247,398 deaths and Canada reported 277,061 COVID-19 cases with 10,685 deaths.

Medical documents prepared in the US are mainly submitted to the US Food and Drug Administration (FDA) to get permission for conducting clinical trials or investigating new drug applications as well as to gain approval for new drugs marketing.In the US, medical writers must have thorough knowledge of regulations to prepare documents for the FDA authorization.

Many pharmaceutical and biotechnology companies in the US—such Cactus Medical; Frontage Laboratories, Inc.; and Caudex Medical—are employing medical and regulatory medical writers who help them in medical writing and compilation of dossiers for submission of the reports.
Based on type, the North America medical writing market is segmented into clinical writing, regulatory writing, scientific writing, and others. The clinical writing segment held the largest market share in 2019, whereas the regulatory writing segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on application, the North America medical writing market is segmented into medical journalism, medical education, medico marketing, and others.The medical education segment held the largest share of the market in 2019.

The medico marketing segment is anticipated to register the highest CAGR in the market during 2020–2027.
The North America medical writing market, by end user, is segmented into pharmaceutical and biotechnological companies, contract research organizations (CROs), and others. The pharmaceutical and biotechnological segment held the largest market share in 2019, and it is anticipated to register the highest CAGR in the market during from 2020 to 2027.
A few of the primary and secondary sources referred to while preparing the report on the North America medical writing market are the US Food and Drug Administration (FDA) and National Clinical Trials Summit (Canada).
Read the full report: https://www.reportlinker.com/p05999773/?utm_source=GNW

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