Medical Writing Services

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Medical Writing Services Market Monitoring Dashboard

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Medical Writing Services Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Medical Writing Services category is 5.40%

Payment Terms

(in days)

The industry average payment terms in Medical Writing Services category for the current quarter is 60.0 days

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    Medical Writing Services market report transcript

    Medical Writing Services Global Market Outlook:

    • The future growth would be driven by the increasing demand for adaptive trials, artificial Intelligence which, in turn, will increase the data points and use of EDC

    • On an average, large pharmaceuticals spend 5–7 percent of the overall clinical trials budget for biostatistics function. Due to the increased data scrutiny by the USFDA, the Biostatistics market is expected to grow at 14–15 percent for the next 3–5 years

    • Medical writing is bundled with Biostatistics and is performed largely, based on the specific skill required per project. Large CROs have third-party network to sub-contract services

    Medical Writing Services Market Overview

    • Medical writing is bundled with Biostatistics and is performed largely, based on the specific skill required per project. Large CROs have third-party network to sub-contract services

    • This is a highly fragmented market, with the entrant of new players, as pharmaceutical companies have been outsourcing their non-core activities

    • Medical writing services outsourcing has become a trend. Major pharma signs a deal with a global CRO for preclinical and data services. This will further strengthen the outsourcing market

    • The therapeutic area constitutes a minor portion of outsourcing biostatistics services. The only change noticed in the therapeutic area is the volume of data analyzed from oncology, which has increased from 11 percent to 27 percent, and other major therapeutic areas have not seen much changes

    Engagement Model: Medical Writing Services

    • Large pharma prefer a master service agreement model, with an average contract duration of 3–5 years

    • Additional contractual strategies that are currently employed in a variety of strategic partnerships/preferred provider relationships in master services agreement include incentive arrangements, bonus penalty clauses or volume discounts to motivate each party to accelerate timelines, find efficiencies, cost-saving opportunities, and encourage development of the preferred provider relationship

    Pricing Model: Medical Writing Services

    • The FFS model is widely used between a pharma and a supplier (both CROs and IT/ITEs), followed by fixed-bid MSA and project-based model. Suppliers are also flexible in developing an innovative pricing model, which can be used in line with study-specific demand and characteristics

    • The average payment term turns out to be 1–3 months

    Porter's Analysis on Medical Writing Services

    Supplier Power

    • The medical writing market is dominated by freelancers in advanced countries, which has reduced the bargaining power of suppliers

    • High growth in demand for medical writing outsourcing is expected to increase supplier power in the short term, but suppliers with technology-driven output will gain business in the future, as the market is seeing disruption by innovation in AI

    Barriers to New Entrants

    • Lack of experienced staff and high rate of employee turnover are the major barriers for new entrants

    • Competition with freelancers is a major entry barrier for suppliers that are looking for opportunities in western markets

    Intensity of Rivalry

    • Price-based competition among CROs has created limited bargaining power among suppliers in the market

    • Top players disrupt the market by investing in manpower development and follow a dual sourcing strategy of delivering services from both the U.S. and emerging nations

    Threat of Substitutes

    • In-house medical writing departments. E.g., Novartis has set up its captive medical writing center in Hyderabad, India

    • Medical writing expert networks, like MCC, which was eventually taken over by Certara, can emerge as a strong alternative to CROs

    Buyer Power

    • Large volume offered by large pharma companies can increase their bargaining power, due to the leverage the former has compared to mid/small pharma companies

    • However, with the move toward specialized therapies, demand for skilled resources is the key, and hence, buyers have to be depended on the suppliers for outsourcing their activities

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