Latin America Medical Affairs Outsourcing Market Size & Outlook
Latin America medical affairs outsourcing market, 2018-2030 (US$M)
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Latin America medical affairs outsourcing market highlights
- The Latin America medical affairs outsourcing market generated a revenue of USD 170.6 million in 2022.
- The market is expected to grow at a CAGR of 12.8% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 170.6 million |
| Market revenue in 2030 | USD 446.8 million |
| Growth rate | 12.8% (CAGR from 2022 to 2030) |
| Largest segment | Medical writing & publishing |
| Fastest growing segment | Medical Science Liaisons (MSLs) |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, Latin America region accounted for 10.0% of the global medical affairs outsourcing market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,647.4 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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Latin America 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 36.58% in 2022. Horizon Databook has segmented the Latin America 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.
Latin America is one of the fastest growing regions for medical affairs outsourcing market after Asia Pacific owing to cost-effectiveness, increase in number of clinical trials, and rise in number of new entrants venturing into the pharmaceutical market within the region. Brazil, Mexico, Venezuela, and Argentina are driving the growth of life sciences market in Latin America.
The market is expected to showcase significant growth during the forecast period owing to increase in number of biopharmaceutical companies venturing into this region, which is anticipated to drive the demand for medical affair services, thereby contributing to the growth of the market. In addition, its geographic placement, in being strategically close to the U.S. market, is another factor attracting outsourcing in this region.
Presence of CROs and regulatory service providers is also expected to increase considerably, which is expected to further drive the growth of medical affairs outsourcing market in the region.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America medical affairs outsourcing market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America medical affairs outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America medical affairs outsourcing market size, by country, 2018-2030 (US$M)
Latin America Medical Affairs Outsourcing Market Outlook Share, 2022 & 2030 (US$M)
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