In 2023, the global healthcare regulatory affairs outsourcing market was estimated to be valued at US$ 2,203.40 million. During the forecast period, the market is likely to garner a moderate CAGR of 6.70%. By 2034, the market is predicted to gain a valuation of US$ 4,052.30 million by 2034.
| Report Attribute | Details |
|---|---|
| Estimated Market Value in 2023 | US$ 2,203.40 million |
| Expected Market Value in 2024 | US$ 2,118.60 million |
| Projected Forecast Value in 2034 | US$ 4,052.30 million |
| Anticipated Growth Rate from 2024 to 2034 | 6.70% |
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Market players are offering healthcare firms with functional outsourcing to enhance efficiency. These outsourcing companies offer the healthcare forms to contract multiple monitors (CRAs), coordinators, senior monitors, and project managers for a particular period of time. This would help them to support the internal resources without the expansion of their own clinical team.
The outsourcing services have dedicated clinical experts working under the project management of the clients. They mostly offer FTE based budgets, with predictable and fixed pricing.
Healthcare companies will have a single point of contact with these outsourcing firms. All the staffing requirements, from changing needs to operational and financial management of the projects, will be taken care of.
The global demand for the healthcare regulatory affairs outsourcing market was estimated to reach a valuation of US$ 1,123.80 million in 2018, according to a report from Future Market Insights. From 2018 to 2023, the healthcare regulatory affairs outsourcing market witnessed significant growth, registering a CAGR of 12.10%.
| Historical CAGR from 2018 to 2023 | 12.10% |
|---|---|
| Forecast CAGR from 2024 to 2034 | 6.70% |
The growth of biotechnology and pharmaceutical companies is a major factor driving the healthcare regulatory affairs outsourcing market as they require effective regulatory plans and submissions.
Companies are spending more and more on outsourcing partners for specific regulatory knowledge as they struggle to bring new goods to market. This helps them navigate complex regulatory frameworks, gain a competitive edge, and ensure compliance and timely market entrance
Principal Consultant
Cost Savings, Increased Efficiency and Regulatory Compliance to Push Companies toward these Services
Companies can avoid the overhead expenses associated with having an in-house regulatory affairs staff. With outsourcing, companies may pay for just the work completed, giving them flexibility.
Efficiency gains are possible through outsourcing. There are various kinds of core and non-core activities within a healthcare company. By outsourcing the non-core activities, companies can devote more time towards the core activities and enhance the efficiency.
With the evolving regulatory framework of various bodies, the healthcare companies find it quite difficult to abide by it all at the same time. They prefer to outsource such responsibilities to a third company that holds better knowledge of all these.
High Initials Costs and Technological Challenges to Restrict Market Growth
Healthcare regulatory affairs outsourcing services have a lot of advantages for the healthcare companies. But there are some serious complications with data too. By outsourcing services, healthcare companies will face a loss of control over their own critical processes.
Companies have to provide the outsourcing forms with their complete set of data, which can lead to patient data leak and vulnerabilities. A lack of direct monitoring and control over outsourced medical billing and collections could make patient data vulnerable. Factors such as these can hinder the global market growth eventually.
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This section focuses on providing detailed analysis of two particular market segments for the healthcare regulatory affairs outsourcing, the dominant service type and the significant end user. The two main segments discussed below are the regulatory writing and publishing service and mid-size pharmaceutical companies.
| Services | Regulatory Writing and Publishing |
|---|---|
| Market Share in 2023 | 33.60% |
In 2023, the regulatory writing and publishing service was estimated to gain a market share of 33.60%. This is because there is a growing need for thorough documentation and submission assistance.
Companies are looking for qualified experts to guarantee correct and timely submissions due to changing legislation and tighter compliance standards. Companies in the healthcare sector can improve productivity, simplify procedures, and successfully comply with regulations by outsourcing these jobs.
| End User | Mid-Sized Pharmaceutical Companies |
|---|---|
| Market Share in 2023 | 29.20% |
In 2023, the mid-size pharmaceutical companies were estimated to be the dominant end user for the healthcare regulatory affairs outsourcing market. They may accelerate product development schedules, handle complicated compliance needs with efficiency, and concentrate resources on key capabilities by outsourcing regulatory affairs.
The ability to obtain expertise catered to their particular requirements is one notable benefit of outsourcing regulatory affairs for mid-sized pharmaceutical companies. This enables them to successfully negotiate complicated regulatory landscapes while concentrating on the core operations. They may now more successfully compete in the market while still adhering to legal requirements due to this.
This section will go into detail on the healthcare regulatory affairs outsourcing markets in a few key countries, including the United States, the United Kingdom, Spain, Thailand and Indonesia. This part will focus on the key factors that are driving up demand in these countries for the healthcare regulatory affairs outsourcing.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| The United States | 3.40% |
| The United Kingdom | 3.80% |
| Spain | 4.40% |
| Thailand | 5.30% |
| Indonesia | 4.50% |
The United States healthcare regulatory affairs outsourcing ecosystem is anticipated to gain a CAGR of 3.40% through 2034. Continuous innovation in healthcare technology necessitates faster regulatory processes in order to bring novel products to market as quickly as possible.
Outsourcing regulatory affairs enables businesses to use professional expertise and resources to speed approvals, assuring rapid market access while conforming to regulatory requirements.
The healthcare regulatory affairs outsourcing market in the United Kingdom is expected to expand with a 3.80% CAGR through 2034. Brexit, the United Kingdom's exit from the European Union, still causes regulations in the healthcare industry to be out of compliance with EU standards.
Companies who operate in both the United Kingdom's and the European Union's markets face difficulties as a result of this possible regulatory divergence since they have to deal with several regulatory regimes.
After Brexit, specialized knowledge becomes necessary to comprehend and abide by the changing British rules. Companies may conveniently acquire this knowledge by outsourcing regulatory affairs, which guarantees that they can maintain compliance and adjust to new needs while concentrating on their core business operations.
The healthcare regulatory affairs outsourcing ecosystem in Spain is anticipated to develop with a 4.40% CAGR from 2024 to 2034.Spain's distinct cultural and linguistic characteristics necessitate specialized expertise for most effective regulatory compliance.Regulatory affairs might be outsourced to companies with local knowledge to enable more efficient understanding and communication of regulations.
The healthcare regulatory affairs outsourcing industry in Thailand is anticipated to reach a 5.30% CAGR from 2024 to 2034. The healthcare industry in Thailand is at present aimed at aligned its regulations with that of the international norms and standards.
This step requires immense expertise and knowledge, pushing them towards outsourcing agencies. Regulatory affairs outsourcing provides access to expert knowledge necessary for effectively navigating these dynamic regulatory regimes.
The healthcare regulatory affairs outsourcing ecosystem in Indonesia is likely to evolve with a 4.50% CAGR during the forecast period.
Indonesia has got certain strict regulatory bodies for various medical devices and pharmaceutical drugs. These regulations are stated by bodies like the National Agency of Drug and Food Control (NADFC) functioning under the Indonesian Ministry of Health (MoH).
In order to comply with the changing regulations from these bodies, companies require investments to overcome the hurdles. Market players in Indonesia, thus, take help from various healthcare companies to get large scale investments to meet regulatory compliance.
Market players are actively offering specialized regulatory assistance to biotechnology, pharmaceutical, and medical device companies within the healthcare regulatory affairs outsourcing market.
They provide proficiency in navigating through intricate regulatory structures, guaranteeing adherence to legal statutes and guidelines, and hastening the approvals for the research and studies.
Companies also provide a variety of services, such as pharmacovigilance, submission preparation, regulatory strategy development, and compliance monitoring. They want to reduce the regulatory restrictions consumers face in order to promote healthcare facilities more efficiently and in conformity with quality standards.
This suggests that the market players are simply aimed at easing down the various restrictions that organizations face due to legal restrictions. The key players in this market include:
Key Development by Market Players
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.70% from 2024 to 2034 |
| Market value in 2024 | US$ 2,118.60 million |
| Market value in 2034 | US$ 4,052.30 million |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2023 |
| Forecast Period | 2024 to 2034 |
| Quantitative Units | US$ million for value |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
|
| Regions Covered |
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| Countries Profiled |
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| Key Companies Profiled |
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| Customisation Scope | Available on Request |
The healthcare regulatory affairs outsourcing market is expected to garner a 6.70% CAGR from 2024 to 2034.
By 2024, the global healthcare regulatory affairs outsourcing market is likely to gain US$ 2,118.60 million.
By 2034, the healthcare regulatory affairs outsourcing market valuation is likely to reach a sum of US$ 4,052.30 million.
The healthcare regulatory affairs outsourcing industry in the United States is likely to rise at a 3.40% CAGR during the forecast period.
The regulatory writing and publishing segment is likely to gain traction in the global healthcare regulatory affairs outsourcing market with a 33.60% market share in 2023.
The mid-size pharmaceutical companies are likely to be the dominant end user of healthcare regulatory affairs outsourcing, with a 29.20% market share in 2023.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Services
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Services, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Services, 2024 to 2034
5.3.1. Regulatory Writing and Publishing
5.3.2. Regulatory Submissions
5.3.3. Clinical Trial Applications
5.3.4. Product Registrations
5.3.5. Regulatory Consulting
5.3.6. Legal Representation
5.4. Y-o-Y Growth Trend Analysis By Services, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Services, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By End User, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User, 2024 to 2034
6.3.1. Pharmaceutical Companies
6.3.2. Biotechnology Companies
6.3.3. Medical Devices Manufacturer
6.3.4. Food and Beverage Companies
6.4. Y-o-Y Growth Trend Analysis By End User, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By End User, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Services
8.2.3. By End User
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Services
8.3.3. By End User
8.4. Key Takeaways
9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Services
9.2.3. By End User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Services
9.3.3. By End User
9.4. Key Takeaways
10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Services
10.2.3. By End User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Services
10.3.3. By End User
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Services
11.2.3. By End User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Services
11.3.3. By End User
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Services
12.2.3. By End User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Services
12.3.3. By End User
12.4. Key Takeaways
13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Services
13.2.3. By End User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Services
13.3.3. By End User
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Services
14.2.3. By End User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Services
14.3.3. By End User
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Market Share Analysis, 2023
15.1.1.1. By Services
15.1.1.2. By End User
15.2. Canada
15.2.1. Market Share Analysis, 2023
15.2.1.1. By Services
15.2.1.2. By End User
15.3. Brazil
15.3.1. Market Share Analysis, 2023
15.3.1.1. By Services
15.3.1.2. By End User
15.4. Mexico
15.4.1. Market Share Analysis, 2023
15.4.1.1. By Services
15.4.1.2. By End User
15.5. Germany
15.5.1. Market Share Analysis, 2023
15.5.1.1. By Services
15.5.1.2. By End User
15.6. UK
15.6.1. Market Share Analysis, 2023
15.6.1.1. By Services
15.6.1.2. By End User
15.7. France
15.7.1. Market Share Analysis, 2023
15.7.1.1. By Services
15.7.1.2. By End User
15.8. Spain
15.8.1. Market Share Analysis, 2023
15.8.1.1. By Services
15.8.1.2. By End User
15.9. Italy
15.9.1. Market Share Analysis, 2023
15.9.1.1. By Services
15.9.1.2. By End User
15.10. Poland
15.10.1. Market Share Analysis, 2023
15.10.1.1. By Services
15.10.1.2. By End User
15.11. Russia
15.11.1. Market Share Analysis, 2023
15.11.1.1. By Services
15.11.1.2. By End User
15.12. Czech Republic
15.12.1. Market Share Analysis, 2023
15.12.1.1. By Services
15.12.1.2. By End User
15.13. Romania
15.13.1. Market Share Analysis, 2023
15.13.1.1. By Services
15.13.1.2. By End User
15.14. India
15.14.1. Market Share Analysis, 2023
15.14.1.1. By Services
15.14.1.2. By End User
15.15. Bangladesh
15.15.1. Market Share Analysis, 2023
15.15.1.1. By Services
15.15.1.2. By End User
15.16. Australia
15.16.1. Market Share Analysis, 2023
15.16.1.1. By Services
15.16.1.2. By End User
15.17. New Zealand
15.17.1. Market Share Analysis, 2023
15.17.1.1. By Services
15.17.1.2. By End User
15.18. China
15.18.1. Market Share Analysis, 2023
15.18.1.1. By Services
15.18.1.2. By End User
15.19. Japan
15.19.1. Market Share Analysis, 2023
15.19.1.1. By Services
15.19.1.2. By End User
15.20. South Korea
15.20.1. Market Share Analysis, 2023
15.20.1.1. By Services
15.20.1.2. By End User
15.21. GCC Countries
15.21.1. Market Share Analysis, 2023
15.21.1.1. By Services
15.21.1.2. By End User
15.22. South Africa
15.22.1. Market Share Analysis, 2023
15.22.1.1. By Services
15.22.1.2. By End User
15.23. Israel
15.23.1. Market Share Analysis, 2023
15.23.1.1. By Services
15.23.1.2. By End User
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Services
16.3.3. By End User
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Accell Clinical Research, LLC
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Charles River Laboratories
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Syneos Health
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Laboratory Corporation of America Holdings
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. ICON PLc.
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. IQVIA
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. Medpace, Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. PAREXEL International Corporation
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Thermo Fisher Scientific Inc. (PPD)
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Promedica International
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.11. WuXi App Tec
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Healthcare Regulatory Affairs Outsourcing Market
