According to IMARC Group’s latest report, titled “Regulatory Affairs Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market grew at a CAGR of around 10% during 2016-2021. Looking forward, IMARC Group expects the global regulatory affairs outsourcing market to exhibit strong growth during 2022-2027.
Regulatory affairs outsourcing is the process of hiring third-party services by the government bodies and private enterprises to ensure public health and safety. The services include managing regulatory requirements for innovator drugs, generic drugs, biologics, biosimilars, etc. The outsourcing organizations control the safety and efficacy of the medicines and ensure that they are safe for consumption. These services are required for clinical trial and patent application, product registration, legal representation, and regulatory writing and publishing. Pharmaceutical companies also opt for these services to seek speedy government approvals.
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Regulatory Affairs Outsourcing Market Trends:
The expanding pharmaceutical and biotechnological industries across the globe are primarily driving the growth of the market. Furthermore, the growing emphasis of numerous pharmaceutical organizations to enhance their operations and supplies, particularly across the developing nations, is also augmenting the market growth. Moreover, outsourcing of regulatory affairs also help in reducing the costs associated with managing in-house resources, such as facilities, technology, training, specialized knowledge and geographic regulations. Additionally, these services are increasingly being used to develop biosimilar and generic drugs, which is further catalyzing the market growth. Besides this, numerous life science-based organizations are rapidly outsourcing non-core functions and regulatory services to increase their overall operational efficiencies, which is expected to further propel the market in the coming years.
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players:
- Charles River Laboratories International Inc.
- Covance Inc (Laboratory Corporation of America Holdings)
- Freyr
- ICON Plc
- Medpace Holdings Inc.
- Parexel International Corporation
- Pharmaceutical Product Development LLC
- Promedica International- A California Corporation
- Wuxi AppTec Co. Ltd.
Key Market Segmentation:
The report has categorized the market based on services, company size, category, indication, stage, end user and region.
Breakup by Services:
- Regulatory Consulting
- Legal Representation
- Regulatory Writing and Publishing
- Product Registration and Clinical Trial Applications
- Others
Breakup by Company Size:
- Small
- Medium
- Large
Breakup by Category:
- Generic Drugs
- Innovator Drugs
- Biologic Drugs
- Biosimilars
- Medical Devices
- Therapeutic
- Diagnostic
- Others
Breakup by Indication:
- Oncology
- Neurology
- Cardiology
- Immunology
- Others
Breakup by Stage:
- Preclinical
- Clinical
- PMA (Post Market Authorization)
Breakup by End User:
- Medical Device Companies
- Pharmaceutical Companies
- Biotechnology Companies
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key Highlights of The Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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