Europe Medical Affairs Outsourcing Market
Europe holds the second-largest share in the global medical affairs outsourcing market. The European market includes the consolidated markets for France, Germany, United Kingdom, Italy, Spain, and Rest of Europe. Increasing number of clinical trials, presence of prominent players in the CROs market, and rapid growth in the pharmaceutical and medical device original equipment manufacturers (OEMs) are likely to be the major factors driving the growth of this market in the European region.
In Europe, there is an exponential growth of COVID-19 cases. Spain, Germany, France, Italy, and the UK are the most affected countries in Europe. The growing research activities to develop a treatment against COVID-19 are likely to favor the market's growth. As the COVID-19 pandemic has heavily impacted Europe, extensive clinical research is currently being conducted to identify effective therapies. The UK dominates the COVID-19 research space and accounts for the largest number of clinical trials (24.5%), which is then followed by Spain (13.2%), France (9.5%), Italy (5.3%), Russia (4.8%), and Germany (3.8%). Reliable and timely COVID-19 testing is an integral part of the monitoring, prevention, touch recording, control of infections, and clinical management of COVID-19. The European center for disease prevention and control (ECDC) has proposed an analytical testing strategy for the EU with concrete guidelines on the level of dissemination of viruses in the population, considering the available public health tools and testing ability. Companies in Europe are adopting various strategies to overcome this situation.
The medical affairs outsourcing market in Europe is expected to grow from US$ 436.93 million in 2020 to US$ 891.80 million by 2027; it is estimated to grow at a CAGR of 10.7% from 2020 to 2027. Pharmaceutical companies as well as medical device companies are increasing adopting the outsourcing trend in order to reduce expenses. Outsourcing clinical trial services make the tedious process easier, faster, and cheaper thereby increasing the manufacturing processes as well as allowing medical device and pharmaceutical companies to divert their focus on revenue generating areas such as distribution, sales and marketing. Additionally, increasing pressure on the pharmaceutical and medical device giants to improve the return of their investments is further encouraging the outsourcing activities is likely to propel the growth of medical affairs outsourcing market during the forecast years.
Europe medical affairs outsourcing market is segmented into services, application, and country. The Europe medical affairs outsourcing market, by services, is segmented into medical writing and publishing, medical monitoring, medical science liaisons (MSLs), medical information, and others. The medical writing and publishing segment held the largest share of the market in 2019. Based on application, the Europe medical affairs outsourcing market is segmented into pharmaceutical, biopharmaceutical, and medical devices. The medical devices market is further segmented into therapeutic medical devices, and diagnostic medical devices. The pharmaceutical segment held the largest share of the market in 2019. Based on country, the Europe medical affairs outsourcing market is segmented into France, Germany, Italy, Spain, UK, and rest of Europe. Germany held the largest market share in 2019.
A few major primary and secondary sources referred to for preparing this report on the medical affairs outsourcing market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Excelya
Strategic insights for the Europe Medical Affairs Outsourcing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 436.93 Million |
| Market Size by 2027 | US$ 891.80 Million |
| Global CAGR (2020 - 2027) | 10.7% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Services
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Medical Affairs Outsourcing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe Medical Affairs Outsourcing Market is valued at US$ 436.93 Million in 2020, it is projected to reach US$ 891.80 Million by 2027.
As per our report Europe Medical Affairs Outsourcing Market, the market size is valued at US$ 436.93 Million in 2020, projecting it to reach US$ 891.80 Million by 2027. This translates to a CAGR of approximately 10.7% during the forecast period.
The Europe Medical Affairs Outsourcing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Medical Affairs Outsourcing Market report:
The Europe Medical Affairs Outsourcing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Medical Affairs Outsourcing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Medical Affairs Outsourcing Market value chain can benefit from the information contained in a comprehensive market report.
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