Pleasure to share with you our Outlook on ‘Global Medical Communications Outsourcing’.

Medical communications is becoming an integral part of drug development and commercialization strategy, owing to the pursuit of innovative and complex therapies, articulation of medical and economic benefits and adopting a patient-centric approach. As a result, the medical communications outsourcing market, from a current base of ~$2B in 2023, is expected to reach ~$8B by 2026, growing at a CAGR of 18%.

The evolution of technology and omnichannel strategies has led to a whole new dimension in medical communications, requiring the right combination of scientific and medical expertise, and creativity for effective stakeholder engagement.

Although a fragmented market, CROs and CCOs have acquired more than one medical communications outfit in order to build a well-rounded capabilities and offerings. Moreover, several PE groups have acquired a number of medical communications outfits and consolidated as a one-stop-shop solutions. As the industry aims to capitalize on this opportunity, we expect further consolidation, aimed towards building or strengthening medical communications capabilities, akin to medical writing or HEOR space.

The attached presentation provides a global outlook on the market opportunity of medical communications and key initiatives undertaken by CCOs, PE groups, and CROs to capitalize on this opportunity.

You can download the presentation here.