Colombia Regulatory Affairs Outsourcing Market Size & Outlook
Colombia regulatory affairs outsourcing market, 2018-2030 (US$M)
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Colombia regulatory affairs outsourcing market highlights
- The Colombia regulatory affairs outsourcing market generated a revenue of USD 25.9 million in 2023 and is expected to reach USD 33.7 million by 2030.
- The Colombia market is expected to grow at a CAGR of 3.8% from 2024 to 2030.
- In terms of segment, product registration & clinical trial applications was the largest revenue generating service in 2023.
- Legal representation is the most lucrative service segment registering the fastest growth during the forecast period.
Regulatory affairs outsourcing market data book summary
| Market revenue in 2023 | USD 25.9 million |
| Market revenue in 2030 | USD 33.7 million |
| Growth rate | 3.8% (CAGR from 2023 to 2030) |
| Largest segment | Product registration & clinical trial applications |
| Fastest growing segment | Legal representation |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Regulatory consulting, Legal representation, Regulatory writing & publishing, Product registration & clinical trial applications, Regulatory Submissions, Regulatory Operations, Other services |
| Key market players worldwide | Genpact Ltd, Criterium Inc., Promedica International, Wuxi AppTec Co Ltd, Medpace Holdings Inc, Charles River Laboratories International Inc, Icon PLC, Labcorp Drug Development, FREYR Battery Inc, Cencora Inc, Pharmexon, QVigilance, BlueReg Group, ZEINCRO Group |
Other key industry trends
- In terms of revenue, Colombia accounted for 0.4% of the global regulatory affairs outsourcing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil regulatory affairs outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- Chile is the fastest growing regional market in Latin America and is projected to reach USD 18.6 million by 2030.
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Regulatory Affairs Outsourcing Market Scope
Regulatory Affairs Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Colombia regulatory 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 regulatory affairs outsourcing market will help companies and investors design strategic landscapes.
Product registration & clinical trial applications was the largest segment with a revenue share of 25.87% in 2023. Horizon Databook has segmented the Colombia regulatory affairs outsourcing market based on regulatory consulting, legal representation, regulatory writing & publishing, product registration & clinical trial applications, regulatory submissions, regulatory operations, other services covering the revenue growth of each sub-segment from 2018 to 2030.
According to Instituto Nacional de Vigilancia de Medicamentos y Alimentos, Columbia, as of 2015, had 1,445 certified medical device importers and 254 medical equipment manufacturers, constituting medical device outsourcing companies & original equipment manufacturers.
The country is the ideal nation for experienced players to establish its manufacturing base in the country, owing to proximity to the U.S. & other developed nations, cheap labor & land costs, and reduced shipping costs compared to Asian countries. These characteristics of the country are anticipated to fuel market growth.
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Target buyers of Colombia regulatory affairs outsourcing market databook
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Our clientele includes a mix of regulatory affairs outsourcing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 Colombia regulatory affairs outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into Colombia regulatory affairs outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia regulatory affairs outsourcing market size, by service, 2018-2030 (US$M)
Colombia Regulatory Affairs Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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