Global Healthcare Regulatory Affairs Outsourcing Market to reach USD 16.57 billion by 2027

Global Healthcare Regulatory Affairs Outsourcing Market is valued approximately USD 6.55 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12.30% over the forecast period 2020-2027. Healthcare Regulatory Affairs Outsourcing is the regulatory policies that are implemented to ensure that companies comply with certain functioning standards in relation to their business. These policies are aimed at safeguarding the public health and welfare by ensuring the safety of healthcare and pharmaceutical products. The Healthcare regulatory affairs outsourcing includes medical publishing and writing the regulatory documents offered by quality control, experienced medical writers and publishers that play an important role in developing high-quality documents for clinical research projects. Also, the ascertaining the advent of an increasing number of drugs in the clinical development process, regulatory affairs outsourcing is shifting more towards the healthcare sector. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. The growth of the market is attributed owing to the increasing R&D activities, rising investments in the healthcare sector in developed and developing countries, and increasing collaborations between regulatory outsourcing and drug developers. As per the Government of China in January 2018, China’s 13th five-year plan stipulates that biotechnology sector is expected to exceed around 4% of gross domestic product by 2020. Also, China has more than 100 life science parks and approx. USD 100 billion has already been invested by Chinese government to promote biotechnology. Also, the department of biotechnology (DBT) along with other government funded institutions such as National Biotechnology Board (NBTB) and many other autonomous bodies in the biotechnology sector are working together to project India as a global hub for biotechnology research and business excellence. In the Union budget of India 2017-18, the department of biotechnology (DBT) India, received USD 333.31 million to continue the implementing the department’s national biotech strategy to support the Indian government aim of establishing India as biotech hub. However, risk associated with data security, system access, and loss of control and technological advances leading to pricing fluctuations is hampering the growth of the market during the forecast period of 2020-2027.

The regional analysis of global Healthcare Regulatory Affairs Outsourcing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region due to the increased focus on reducing investment cost and capitalize on the availability of cheap labor, rising concentration on the optimum utilization of resources, and changing regulatory scenarios. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
Covance Inc.
Accell Clinical Research
PAREXEL International Corporation
Medpace, Inc.
Promedica International
WuXi AppTec

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service Type:
Traditional Services
Software Services
By Organization Size:
Large Organizations
Mid-Sized Organizations
Small Organizations
Pharmaceutical Companies
Medical Devices Manufacturing Companies
Healthcare Institutions
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Healthcare Regulatory Affairs Outsourcing Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers