Published on : Jun 04, 2018
Albany, New York, June 4, 2018: A detailed study, outlining the global market scenario of regulatory affairs outsourcing has been publicized to the wide database of Market Research Hub (MRH). The study is titled as “Regulatory Affairs Outsourcing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2023”, which presents a complete perspective on global regulatory affairs outsourcing market’s evolution throughout the above-mentioned forecast period in terms of revenue (in US$ Mn). The readers will gain access to vital information regarding current trends and future propositions of the market across various geographies. Some of the prime regions highlighted in the study are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Currently, regulatory affairs outsourcing is on a growth worldwide. Many large and small companies have adopted this strategy to get a timely approval. The rising pace with which innovations are taking place in the medical sector, growing investments in research & development activities and increasing competition between the players are aiding the regulatory affairs outsourcing market to grow. As per the study prime findings, the global regulatory affairs outsourcing market will display a healthy 10.1% CAGR during the forecast period of 2017 to 2023. As a result, the market, which had a valuation of US$3,234.4 million in 2017 will rise to US$5,746.5 million by 2023.
Major findings from the Report
- The above findings presented in the study are based on various dynamics. In the initial section, the market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the regulatory affairs outsourcing market and how could influence the market in the near future. According to the projections, the market is also growing due to the rising awareness and realization that outsourcing is cost-effective and resource effective way for the managing of data generated during approvals, clinical trials, and patent approvals.
- It has been observed during the analysis that in the coming years, regulatory affairs service providers in emerging economies across regions such as Latin America and the Asia Pacific are expected to bag the most numbers of outsourcing projects across the globe. An increased number of biopharmaceutical companies are using emerging economies as a launch pad for their venture in larger markets such as North America and Europe.
- A vital section of the study highlights market opportunities on the basis of its segmentation into services, which are regulatory submissions, regulatory consulting and legal representation, clinical trial applications and product registrations, regulatory writing and publishing and other. The clear segmentation analysis provides clients sales figure in each category. Clients will be able to plan future business decisions using the reports forecast figures for the particular market.
Moreover, the report provides a competitive landscape of the regulatory affairs outsourcing market, thereby listing out all the major players according to their geographic presence, market attractiveness and recent key developments. Key players in the global regulatory affairs outsourcing market are Criterium, Inc., Covance, Inc., Clinilabs, Inc., Charles River Laboratories International, Inc., and Accell Clinical Research, LLC.
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