Canada Medical Writing Market Size, Share & Trends Analysis Report By Type (Clinical, Regulatory, Scientific), By Application (Medical Journalism, Medico Marketing), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Canada Medical Writing Market Size, Share & Trends Analysis Report By Type (Clinical, Regulatory, Scientific), By Application (Medical Journalism, Medico Marketing), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Canada Medical Writing Market Growth & Trends

The Canada medical writing market size is expected to reach USD 262.7 million by 2030, expanding at a CAGR of 10.36% from 2023 to 2030, based on a new report by Grand View Research, Inc. The growth is attributed to a rise in contract research organization (CRO) outsourcing, increasing R&D investments by pharmaceutical companies, partnerships & collaborations between market players, the surge in the number of clinical trials, and increasing penetration of the internet and digital media.

The pharmaceutical & biotechnology companies prefer transactional outsourcing wherein research organizations perform entire functions of clinical trials such as site monitoring, study management, data management, biostatistics, and medical writing. CROs offer flexible budgets for these services. Manufacturing companies with large budgets allocated for R&D activities opt for transactional outsourcing services, thereby increasing the demand for CROs.

Canadian pharmaceutical companies invest more money, time, and effort into research and development than any other industry. According to Statistics Canada, the R&D pharmaceutical sector contributed a total GVA (gross value added) of USD 15.0 billion in 2019, a 1.1% increase from USD 14.9 billion in 2018. In addition, there is a new market trend toward multiple strategic relationships in which each CRO performs a single function, and multiple service providers are maintained.

Drug development is a multi-billion-dollar industry with complicated procedures for product approval. To obtain product approval, it is necessary to conduct well-documented, well-communicated, and well-developed research, which increases the demand for experienced writers in the medical field. In addition, social media has become an integral component of the marketing and communication strategies of numerous organizations, including healthcare providers. As part of digital marketing, social networking is now used to interact with patients, thereby increasing the demand for medical writing services.

The COVID-19 pandemic impacted the business of clinical writers. During the first few months of the COVID-19 pandemic, 96% of Canadians who used the Internet to search for information came across COVID-19-related content that they believed to be misleading, false, or inaccurate. 25% of these Canadians saw the suspect information multiple times per day, 7% once per day, and 29% at least once per week, according to a Statistics Canada study from 2021.

In addition, the Canadian government has been combating misinformation for a number of years, including supporting initiatives for digital citizenship education and establishing healthy information ecosystems. The pandemic highlighted the significance of medical writing in addressing future health challenges. Thus, it is anticipated that the market will grow in the coming years due to the aforementioned factors.

Canada Medical Writing Market Report Highlights

• Based on application, the medical journalism segment dominated the market in 2022 and is expected to maintain its lead over the forecast period
• The Medico marketing segment is projected to witness the fastest growth over the forecast period. The segment involves the development of advertising & promotional content, training manuals, product monographs, and web content for the public
• Based on the type, the clinical writing segment held the majority of the market share in 2022 owing to the factors such as Clinical Research Organizations (CROs) establishing medical writing as a feasible extension to their current service portfolio owing to their access to a sizable amount of clinical trial data
• Based on the end-use, the CROs & other segment accounted for the largest market share in 2022 and is expected to exhibit the fastest CAGR during the forecast period

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