The global regulatory affairs outsourcing market size was valued at 6.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028.
An increase in geographical expansion activities by companies that aim for speedy approvals in local markets is expected to contribute to the adoption of outsourcing models for regulatory services.Regulatory affairs is a profession established from the desires governments which helps to protect public health by analysing and monitoring the safety and efficacy of products in areas including pharmaceuticals, medical devices, agrochemicals, pesticides, veterinary medicines cosmetics and complementary medicines.
Regulatory outsourcing services provide various types of services including regulatory consultant, regulatory writing & publishing, product registration & clinical trial applications, legal representation, patent application.
Simultaneously, investments in the regulatory information systems have increased considerably to keep pace with the need to automate activities, like publishing and regulatory operations.
In this scenario, outsourcing is gradually becoming a vital part of the regulatory capability mix.Key Player Mentioned:WuXi AppTec, Inc.MedpacePharmaceutical Product Development, LLC (PPD)Charles River Laboratories International, Inc.ICON plcCovanceParexel International Corporation, Inc.FreyrProduct Segment Analysis:Regulatory ConsultingLegal RepresentationRegulatory Writing & PublishingProduct Registration & Clinical Trial ApplicationsOther ServicesRegional Segment Analysis:North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa Access Press Release @ https://www.grandviewresearch.com/press-release/global-regulatory-affairs-outsourcing-market The pressure to reduce costs by life sciences companies is very high.
An increase in out-of-pocket expenses, uneven economic growth, and measures taken by various governments to contain the cost of drugs are expected to contribute to the economic and competitive pressure.
The global regulatory affairs outsourcing market size was valued at 6.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028.
An increase in geographical expansion activities by companies that aim for speedy approvals in local markets is expected to contribute to the adoption of outsourcing models for regulatory services.Regulatory affairs is a profession established from the desires governments which helps to protect public health by analysing and monitoring the safety and efficacy of products in areas including pharmaceuticals, medical devices, agrochemicals, pesticides, veterinary medicines cosmetics and complementary medicines.
Regulatory outsourcing services provide various types of services including regulatory consultant, regulatory writing & publishing, product registration & clinical trial applications, legal representation, patent application.
Simultaneously, investments in the regulatory information systems have increased considerably to keep pace with the need to automate activities, like publishing and regulatory operations.
In this scenario, outsourcing is gradually becoming a vital part of the regulatory capability mix.Key Player Mentioned:WuXi AppTec, Inc.MedpacePharmaceutical Product Development, LLC (PPD)Charles River Laboratories International, Inc.ICON plcCovanceParexel International Corporation, Inc.FreyrProduct Segment Analysis:Regulatory ConsultingLegal RepresentationRegulatory Writing & PublishingProduct Registration & Clinical Trial ApplicationsOther ServicesRegional Segment Analysis:North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa Access Press Release @ https://www.grandviewresearch.com/press-release/global-regulatory-affairs-outsourcing-market The pressure to reduce costs by life sciences companies is very high.
An increase in out-of-pocket expenses, uneven economic growth, and measures taken by various governments to contain the cost of drugs are expected to contribute to the economic and competitive pressure.