Looking forward, IMARC Group expects the global regulatory affairs outsourcing market to exhibit strong growth during the next five years.

SHERIDAN, WYOMING, UNITED STATES, October 19, 2021 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Regulatory Affairs Outsourcing Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026”, the global regulatory affairs outsourcing market grew at a CAGR of around 10% during 2015-2020. Regulatory affairs outsourcing is the process of hiring third-party services by the government bodies and private enterprises to ensure public health and safety. The services include managing regulatory requirements for innovator drugs, generic drugs, biologics, biosimilars, etc. The outsourcing organizations control the safety and efficacy of the medicines and ensure that they are safe for consumption. These services are required for clinical trial and patent application, product registration, legal representation, and regulatory writing and publishing. Pharmaceutical companies also opt for these services to seek speedy government approvals.

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The expanding pharmaceutical and biotechnological industries across the globe are primarily driving the growth of the market. Furthermore, the growing emphasis of numerous pharmaceutical organizations to enhance their operations and supplies, particularly across the developing nations, is also augmenting the market growth. Moreover, outsourcing of regulatory affairs also help in reducing the costs associated with managing in-house resources, such as facilities, technology, training, specialized knowledge and geographic regulations. Additionally, these services are increasingly being used to develop biosimilar and generic drugs, which is further catalyzing the market growth. Besides this, numerous life science-based organizations are rapidly outsourcing non-core functions and regulatory services to increase their overall operational efficiencies, which is expected to further propel the market in the coming years. Looking forward, IMARC Group expects the global regulatory affairs outsourcing market to exhibit strong growth during the next five years.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

Charles River Laboratories International Inc.
Covance Inc (Laboratory Corporation of America Holdings)
Freyr
ICON Plc
Medpace Holdings Inc.
Parexel International Corporation
Pharmaceutical Product Development LLC
Promedica International- A California Corporation
Wuxi AppTec Co. Ltd.
Market Segmentation:

Breakup by Services:

Regulatory Consulting
Legal Representation
Regulatory Writing and Publishing
Product Registration and Clinical Trial Applications
Others

Breakup by Company Size:

Small
Medium
Large

Breakup by Category:

Generic Drugs
Innovator Drugs
Biologic Drugs
Biosimilars
Medical Devices
Therapeutic
Diagnostic
Others

Breakup by Indication:

Oncology
Neurology
Cardiology
Immunology
Others

Breakup by Stage:

Preclinical
Clinical
PMA (Post Market Authorization)

Breakup by End User:

Medical Device Companies
Pharmaceutical Companies
Biotechnology Companies
Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:

Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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IMARC Services Private Limited
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