Australia Medical Affairs Outsourcing Market Size & Outlook
Australia medical affairs outsourcing market, 2018-2030 (US$M)
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Australia medical affairs outsourcing market highlights
- The Australia medical affairs outsourcing market generated a revenue of USD 23.1 million in 2022 and is expected to reach USD 62.7 million by 2030.
- The Australia market is expected to grow at a CAGR of 13.3% from 2023 to 2030.
- In terms of segment, medical writing & publishing was the largest revenue generating services in 2022.
- Medical Science Liaisons (MSLs) is the most lucrative services segment registering the fastest growth during the forecast period.
Medical affairs outsourcing market data book summary
| Market revenue in 2022 | USD 23.1 million |
| Market revenue in 2030 | USD 62.7 million |
| Growth rate | 13.3% (CAGR from 2022 to 2030) |
| Largest segment | Medical writing & publishing |
| Fastest growing segment | Medical Science Liaisons (MSLs) |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Medical Writing & Publishing, Medical Monitoring, Medical Science Liaisons (MSLs), Medical Information |
| Key market players worldwide | IQVIA Holdings Inc, Icon PLC, The Medical Affairs Company, Syneos Health, Thermo Fisher Scientific Inc, Wuxi AppTec Co Ltd, SGS AG, Ashfield Healthcare, ZEINCRO Group, Indegene |
Other key industry trends
- In terms of revenue, Australia accounted for 1.4% of the global medical affairs outsourcing market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India medical affairs outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 155.5 million by 2030.
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Medical Affairs Outsourcing Market Scope
Medical Affairs Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia medical affairs outsourcing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical affairs outsourcing market will help companies and investors design strategic landscapes.
Medical writing & publishing was the largest segment with a revenue share of 36.8% in 2022. Horizon Databook has segmented the Australia medical affairs outsourcing market based on medical writing & publishing, medical monitoring, medical science liaisons (msls), medical information covering the revenue growth of each sub-segment from 2018 to 2030.
In Australia, there are nearly 400 domestic biotechnology, 500 MedTech, and 50 multinational companies operating as subsidiaries, such as Pfizer, GSK, Bristol-Myers Squibb, Merck, & Novartis. Presence of several local and foreign companies is anticipated to boost demand for various medical affair services, thereby fueling market growth.
Furthermore, aligning of Good Manufacturing Practices across various jurisdictions in the country owing to regulatory agreements between the Therapeutic Goods Administration (TGA) in Australia, the U.S. FDA, and European Medicines Agency is anticipated to facilitate market entry of U.S. & European firms, which is likely to facilitate market growth.
The exporters must appoint an Australian representative or sponsor to obtain regulatory approval in the country. Since most supplies are dependent on imports, the demand for regulatory affairs and product registration services is expected to increase. Moreover, tax benefits, government funding, and stringent intellectual property rights in the country are anticipated to increase the market potential of the country.
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Our clientele includes a mix of medical affairs outsourcing market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Australia medical affairs outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into Australia medical affairs outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia medical affairs outsourcing market size, by services, 2018-2030 (US$M)
Australia Medical Affairs Outsourcing Market Outlook Share, 2022 & 2030 (US$M)
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