Healthcare Regulatory Affairs Outsourcing Market is Expected to Exhibit a Strong 9.4% CAGR Between 2019 and 2023
Research Report on Healthcare Regulatory Affairs Outsourcing Market is a professional and comprehensive study by Market Research Future on Global Healthcare Regulatory Affairs Outsourcing Industry. This study also analyzes the industry share, growth rate, future trends, drivers, opportunities, challenges, distributors, Porter’s Five Forces Analysis.
Pune, Maharashtra – June 20, 2019 /MarketersMedia/ —
The Global Healthcare Regulatory Affairs Outsourcing Market held a market value of USD 3,120.4 million in 2017 and is projected to grow at a CAGR of 9.4% over the forecast period.
Healthcare Regulatory Affairs Outsourcing Market – Key Players
Some of the prominent players in the Global Healthcare Regulatory Affairs Outsourcing Market are
Accell Clinical Research, LLC
Charles River Laboratories International, Inc.
Clinilabs, Inc.
Criterium Inc.
ICON plc
Covance, Inc.
Medpace, Inc.
PAREXEL International Corporation
Pharmaceutical Product Development, (PPD) LLC
Promedica International
Quintiles Transnational Corporation
WuXi App Tec
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Healthcare Regulatory Affairs Outsourcing Market – Overview
The Healthcare Regulatory Affairs Outsourcing offers medical writing and publishing which plays an important role to develop high-quality documents for the clinical research process. The rising, increasing number of patent expirations and growing research and development activities are some factors that are likely to propel the market growth during the assessment period.
Additionally, the rising incidence of several chronic diseases such as cancer and other infectious diseases have encouraged biopharmaceutical companies to develop a large number of new products. This rising development of products in clinical trials, the demand for clinical trial application and product registration services is increasing, thus driving the growth of this market. For instance, the International Federation of Pharmaceutical Manufacturers & Associations stated that around 1,919 and 1,308 drugs are in development for cancer and neurology, respectively. Additionally, IFPMA stated that in 2014, there were 401 drugs in the pipeline for diabetes and 208 drugs in development for HIV/AIDS. Furthermore, IFPMA specified that their members have 119 ongoing R&D projects related to neglected tropical diseases.
On the other hand, the risk associated with data security and lack of standardization may hamper the market growth during the assessment period.
Key Findings of the Study:
The Global Healthcare Regulatory Affairs Outsourcing Market is projected to reach over USD 17,469.6 million by 2023 at 17.5% CAGR during the review period of 2018 to 2023.
Americas accounted for the largest market share with North America being the major contributor to the growth of the market.
By product, the stem cell line segment is projected to register the highest CAGR of 7.9% during the forecast period due to the unique capabilities for tissue repair, replacement, and regeneration.
Key manufacturers are adopting geographic expansions, corporate acquisitions, and product launches as growth strategies. Moreover, they are focusing on e-commerce for distribution.
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Healthcare Regulatory Affairs Outsourcing Market – Segment Analysis
The Global Healthcare Regulatory Affairs Outsourcing Market is segmented into application, product and end user. On the basis of application, the market is segmented into therapy, research and cell, and tissue banking. The global Healthcare Regulatory Affairs Outsourcing Market by product is segmented into stem cell lines, instruments, consumables and culture media. The stem cell lines segment is expected to lead the market and register a substantial CAGR to reach USD 9,366.9 million by the end of 2023. Due to its unique capabilities for tissue repair, replacement, and regeneration is expected to drive the market growth. On the basis of end user, the market is segmented into pharmaceutical/biotechnology companies & CRO and hospitals & stem cell banks.
Healthcare Regulatory Affairs Outsourcing Market – Regional Analysis
Geographically, the global Healthcare Regulatory Affairs Outsourcing Market has been segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa. As per MRFR analysis, the Americas was the largest market for Carotid Artery Disease Market in 2017 and is expected to remain dominant during the review period. Europe accounted for a significant market share and is projected to be the second-largest market during the forecast period. Major factors influencing the growth of the market include the presence of major manufacturers, growing prevalence of cancer, growing healthcare expenditure, and increase in technologically advanced products in Europe are driving the growth of the Healthcare Regulatory Affairs Outsourcing Market in the region. The Asia-Pacific Healthcare Regulatory Affairs Outsourcing Market is one of the fastest growing regions across the globe. Growing population and rising incidence of cancer are likely to drive the growth of the Asia-Pacific market.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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