San Francisco, California, June 15, 2017: The report titled, “Healthcare Regulatory Affairs Outsourcing Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” throws light on the key aspects of the market, including the major trends, growth drivers, deterrents, and opportunities in the market, apart from market projections. The leading segments based on application and region are analyzed in detail in the report. The leading companies have also been assessed on the basis of their product portfolios, market shares, and business strategies.
The increasing number of services provided to clinical research organizations is one of the foremost factors boosting the growth of the global market for healthcare regulatory affairs outsourcing. As more number of patents for drugs are getting expired and the volume of investments in R&D augment, the global market for healthcare regulatory affairs outsourcing will witness considerable growth.
Regulatory frameworks are being stringently implemented in order to ensure compliance with certain acceptable standards. These frameworks have been created to ascertain the safety of healthcare and pharmaceutical products. Biopharmaceutical companies and healthcare agencies are therefore expected to join hands with outsourcing firms so as to achieve approvals for their devices and drugs. Moreover, the emergence of new drugs and devices has also been propelling the demand for healthcare regulatory affairs outsourcing.
Regulatory support is offered across multiple domains including data management, labeling and liaison, medical report writing, country regulatory affairs, manufacturing and controls, and regulatory strategy. The cost efficiency of these solutions is another major factor driving the growth of the market.
By geography, the global market for healthcare regulatory affairs outsourcing can be segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Of these, North America has been accounting for the largest share in the global market for healthcare regulatory affairs outsourcing, with the U.S. as the foremost contributor. As a growing number of healthcare organizations have been cropping up recently across the European continent, the region is likely to emerge as the second leading segment.
However, it is Asia Pacific that is brimming with an abundance of growth opportunities. The vast growth of the pharmaceutical sector is driving the growth of this region. Apart from this, the rising advancement of healthcare infrastructure has also been aiding the market to grow. India, Indonesia, China, Japan, and Malaysia are likely to contribute significant volumes of revenue to the healthcare regulatory affairs outsourcing market worldwide over the forthcoming period.
Medelis, Inc., Covance Group Ltd., Medpace, Inc., Pharmaceutical Product Development, ICON Plc., KAI Research, Inc., Parexel International Corporation, and Quintiles Transnational Holdings, Inc. are some leading companies operating in the global market for healthcare regulatory affairs outsourcing.