April 19, 2024

Dublin, Feb. 02, 2024 (GLOBE NEWSWIRE) — The “Regulatory Affairs Outsourcing Market Report by Services, Company Size, Category, Indication, Stage, End User and Region 2023-2028” report has been added to researchandmarkets.com gift.

This market analysis on global regulatory affairs outsourcing offers a comprehensive overview of its current state and future outlook. The comprehensive study indicates a sustained growth path for the market, which is expected to grow from US$7.1 billion in 2022 to an estimated US$11.7 billion by 2028, progressing at a commendable CAGR of 8.7% during the forecast period . The report articulates the dynamic factors contributing to this growth, including the complex regulatory environment and strategic advantage of global market opportunities.

Service providers specialized in regulatory affairs outsourcing have become vital for businesses dealing with the maze of global regulations in highly regulated industries such as pharmaceuticals, biotechnology and medical devices. Companies are increasingly relying on external experts to manage compliance, streamline processes, and ensure efficient adherence to complex regulatory standards, facilitating faster market entry and product approval. The market report sheds light on the trends underlying this push towards outsourcing, highlighting its important role in optimizing operational efficiency and streamlining cost structures.

Emerging trends reflect strong growth in demand for regulatory affairs outsourcing services such as regulatory writing and publishing for medium-sized businesses aiming for scalability while managing complex documentation requirements and global compliance. Additionally, medical devices and oncology are known to be key sectors that can benefit from outsourcing, given their stringent regulatory requirements and rapid innovation pace.

This new market segmentation analysis evaluates multiple segments of the regulatory affairs outsourcing market, elucidating the factors driving growth within specific service offerings, company size, product categories, therapeutic indications, stages of development, and end user demographics. Does. Region-wise, Asia Pacific is leading, indicative of its accelerating market globalization and increased clinical activity. The report also provides information about the major market players, their competitive strategies, and market status.

  • Notable Market Drivers: Key drivers include increasing complexities in the regulatory environment and globalization of business operations demanding adherence to various international standards.
  • Service Segment Insights: Regulatory writing and publishing services are witnessing high demand, as expertise in complex documentation becomes critical for regulatory compliance and timely approvals.
  • End User Incentives: With the growing need for efficient navigation through regulatory pathways and market integrity, pharmaceutical companies continue to dominate industry demand.

The report examines the impact of the COVID-19 pandemic on this market, providing a reflective analysis of its disruptions and adaptive strategies deployed by key industry players. The market assessment offers valuable insights and forecasts, allowing stakeholders to refine their strategic positioning and capitalize on emerging opportunities within the regulatory affairs outsourcing landscape.

Main characteristics

Report Attribute Description
number of pages 144
forecast period 2022-2028
Estimated market value in 2022 (USD). $7.1 billion
Estimated market value by 2028 (USD). $11.7 billion
compound annual growth rate 8.7%
Area covered global

Companies Mentioned

  • Charles River Laboratories International Inc.
  • Covance Inc (Laboratory Corporation of America Holdings)
  • frey
  • Medpace Holdings Inc.
  • Parexel International Corporation
  • Pharmaceutical Product Development LLC
  • ProMedica International – A California Corporation
  • Wuxi Apptech Co., Ltd.

For more information on this report visit here

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  • Regulatory Affairs Outsourcing Market

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