{"id":481130,"date":"2020-04-24T09:56:01","date_gmt":"2020-04-24T09:56:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=481130"},"modified":"2020-04-24T09:56:01","modified_gmt":"2020-04-24T09:56:01","slug":"medical-writing-market-is-projected-to-grow-77-billion-with-cagr-of-above-109-by-2027-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/medical-writing-market-is-projected-to-grow-77-billion-with-cagr-of-above-109-by-2027-grand-view-research-inc_481130.html","title":{"rendered":"Medical Writing Market is projected to grow $7.7 Billion with CAGR of above 10.9% by 2027 | Grand View Research, Inc."},"content":{"rendered":"
\"Medical<\/a><\/p>\n
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Grand View Research, Inc. – Market Research And Consulting.<\/div>\n<\/div>\n<\/div>\n
According to report published by Grand View Research, The global medical writing market size was valued at USD 3.4 billion in 2019 and is expected to expand at a CAGR of 10.9% from 2020 to 2027. <\/div>\n

The global medical writing market<\/a> size is expected to reach USD 7.7 billion by 2027, expanding at a CAGR of 10.9% during the forecast period, based on a new report by Grand View Research, Inc. Market growth can be attributed to increasing R&D investments by pharmaceutical companies, rise in contract research organization (CRO) outsourcing, partnerships & collaborations between market players, surge in the number of clinical trials, and updates in medical device regulations.<\/p>\n

The European MEDDEV 2.7\/1 Rev.4 guidance on Clinical Evaluation Reports (CER) was published in 2016. As per a recent article published in 2018, regulations, such as European Medical Devices Regulation (MDR 2017\/745) and In-Vitro Diagnostics Regulation (IVDR 2017\/746) followed in May 2017, and key changes relevant to writers in the field of medicine include increased need for relevant data from clinical studies and requirement of experienced authors. Such stringent regulations are expected to positively impact the medical writing market growth.<\/p>\n

Drug development is a billion dollar industry with complex processes of obtaining product approvals. A well-documented, well-communicated, and well-developed research is needed to gain product approval, which increases the demand for experienced writers in the field of medicine. In addition, social media has become a crucial part of marketing and communication strategies of many organizations, including healthcare providers. Social networking is now being used in order to engage with patients as part of digital marketing, thereby creating high demand for writing services in the field of medicine.<\/p>\n

To Know More About Medical Writing Market, Access Sample Report@ <\/strong> https:\/\/www.grandviewresearch.com\/industry-analysis\/medical-writing-market\/request\/rs1<\/a><\/p>\n

\"U.S.<\/p>\n

Strategic alliances between large pharma companies and CROs have become an ongoing trend. Around 20 major partnerships have been finalized in the last five years. For instance, in October 2016, Quintiles and IMS Health underwent the biggest merger in the CRO industry and reestablished the weightage of both the companies. The merger helped Quintiles to use IMS’ internal database in order to design targeted and complex clinical trials.<\/p>\n

Further key findings from the study suggest:<\/strong><\/p>\n