The healthcare regulatory affairs outsourcing market in North America is expected to grow from US$ 3,171.78 million in 2021 to US$ 6,628.39 million by 2028; it is estimated to grow at a CAGR of 11.1% from 2021 to 2028.
The Business Market Insights provides you regional research analysis on “North America Healthcare Regulatory Affairs Outsourcing Market” and forecast to 2028. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the North America Healthcare Regulatory Affairs Outsourcing Market during the forecast period, i.e., 2020–2028.
The North America healthcare regulatory affairs outsourcing market is categorized into the US, Canada, and Mexico. North America is likely to capture significant share of the global market in 2021. The key factors that are driving the growth of the market are rising number of patent expirations along with growing costs of research and development activities. However, during the forecast period the market is likely to get restrained by the factors such as high fluctuations in price along with hidden expenses in the regulatory services delivered by diverse Clinical Research Organizations. The US is the largest market for healthcare regulatory affairs outsourcing at a global level. The market’s growth is attributed to the enormous number of R&D activities in the field of drug discovery carried out in the country. The U.S. healthcare industry’s effort to minimize costs without compromising on quality of services is the major factor for the outsourcing of healthcare and medical services to other countries. The rigorous regulations imposed by the Health Insurance Portability and Accountability Act (HIPAA) of 1996 towards the establishment of national standards for electronic health care transactions and national identifiers for providers, health insurance plans, and employers has boosted the market growth. The standards and regulations are compulsory and require infrastructure which hospitals lack, thus making outsourcing unavoidable, and driving the growth of the U.S. healthcare outsourcing market. The rapid developments in the market and entry of global players into the market have resulted in partnerships, mergers & acquisitions, and joint ventures in the market. Moreover, the medical service vendors are mostly involved in making strategic partnerships with hospitals to provide outsourcing solutions. Rising regulatory pressure on healthcare companies is the major factor driving the growth of the North America healthcare regulatory affairs outsourcing market.
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Major key players covered in this report:
Arriello Ireland Ltd., IQVIA Inc., PAREXEL INTERNATIONAL CORPORATION, PHARMALEX GMBH, ProductLife Group, ProPharma Group, and Voisin Consulting Life Sciences (VCLS)
The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the regional landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America Healthcare Regulatory Affairs Outsourcing Market. The researcher provides an extensive analysis of the North America Healthcare Regulatory Affairs Outsourcing Market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America Healthcare Regulatory Affairs Outsourcing Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the North America Healthcare Regulatory Affairs Outsourcing Market segments and regions.
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The research on the North America Healthcare Regulatory Affairs Outsourcing Market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the North America Healthcare Regulatory Affairs Outsourcing Market on the basis of end user, product type, application, and demography for the forecast period 2020–2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the North America Healthcare Regulatory Affairs Outsourcing Market.
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