Australia Medical Affairs Outsourcing Market Size & 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 medical device industry in the country is heavily dependent on imports, wherein about 80.0% of medical supplies’ demand is met through imports.

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. For instance, in 2018, Australia ranked seventh among 135 countries listed on the International Property Rights Index.