Global Healthcare Regulatory Affairs Outsourcing Market Report and Forecast 2024-2032

Global Healthcare Regulatory Affairs Outsourcing Market Outlook

The global healthcare regulatory affairs outsourcing market size attained a value of 8.05 billion in 2023. The market is expected to grow at a CAGR of 8.96% between 2024 and 2032, reaching almost 17.42 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Healthcare Regulatory Affairs Outsourcing: Introduction

Healthcare regulatory affairs outsourcing refers to the practice of engaging external service providers or consulting firms to handle regulatory affairs tasks and responsibilities on behalf of healthcare organizations. Regulatory affairs in the healthcare sector involve navigating and complying with the complex and evolving regulatory landscape that governs the development, manufacturing, and marketing of pharmaceuticals, medical devices, biotechnology products, and other healthcare-related items.

Global Healthcare Regulatory Affairs Outsourcing Market Analysis

Life sciences companies are increasingly turning to digitization, which has led to changes in the way regulatory publishing and information are managed. These companies face significant constraints in terms of time and the volume of data that needs to be processed. The integration of artificial intelligence is expected to drive growth in this sector. Additionally, increased awareness of the benefits of outsourcing healthcare regulatory affairs is also driving the global healthcare regulatory affairs outsourcing market growth.

The rising number of clinical trials is a major contributor to market growth. This increase is due to the growing demand for research and development in various domains, including the development of new medicines requiring approval from the U.S. Food and Drug Administration. The demand for new treatment therapies and drugs to address various medical conditions is also driving market growth.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Healthcare Regulatory Affairs Outsourcing Market Segmentations

Market Breakup by Services

• Regulatory Consulting

• Legal Representation

• Regulatory Writing and Publishing

• Product Registration and Clinical Trial Applications

Market Breakup by Categories

• Drugs

• Biologics

• Medical Devices

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Healthcare Regulatory Affairs Outsourcing Market Overview

The market growth is expected to be driven by a surge in research and development expenditure due to a rising number of clinical trials, and the cost-effectiveness associated with outsourcing. The increasing investments in research and development by pharmaceutical and biotechnology companies are expected to be a key driver, stimulating the demand for regulatory services in the healthcare industry.

The market is further expected to be driven by the escalating outsourcing of clinical trial applications and product registrations. This trend expands across both developed and developing countries, particularly influencing the product registration and clinical trial application segment throughout the forecast period. The increased complexity in the product registration process, coupled with a shortage of industry professionals and internal capabilities, has led pharmaceutical and medical device companies to increasingly opt for third-party service providers for their product registration activities, propelling the global healthcare regulatory affairs outsourcing market growth.

Additionally, the market is characterized by several factors, including heightened R&D investments, a growing number of clinical trials, and the compelling cost advantages associated with outsourcing.

Global Healthcare Regulatory Affairs Outsourcing Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Accell Clinical Research

• Takeda Pharmaceutical Company Limited

• Genpact

• Promedica International

• WuXi AppTec, Inc.

• PRA Health Sciences

• Medpace

• Charles River Laboratories International

• PAREXEL International Corp.

• Covance, Inc.

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report