The South and Central America medical writing market is expected to reach US$ 362.35 million by 2027 from US$ 217.01 million in 2019; it is anticipated to grow at a CAGR of 6.6% from 2020–2027.
The growth of South and Central America medical writing market is driven by the rising government support to the healthcare sector and increasing developments in the medical device industry. However, the issues encountered regarding medical writers restrain the market growth.
Growing private sector is the most substantial market for medical device manufacturers. Also, the public healthcare sector is expanding in many regions of South and Central America. Brazil is the largest medical devices market, and Argentina has the fifth largest medical devices industry in South and Central America. Medical device regulations are lax in many countries in South and Central America, excluding Brazil, which has a mature regulatory system set for the medical device market. Mercosur is an economic and political agreement between Venezuela, Bolivia, Uruguay, Paraguay, Brazil, and Argentina. Mercosur members follow the regulatory rules set by Brazil and Argentina. Brazil has a healthy and robust domestic industry; most regions in Latin America are dependent on device imports. Argentina and Brazil import a massive number of high-tech medical devices. While exports have increased by 200%, there is still a significant trade deficit. Thus, increased developments in the medical devices sector leads to high demand for medical writers in South and Central America.
Being one of the world’s less developed regions, the South and Central America is facing severe impact of the COVID-19 pandemic. Health authorities across the region are worrying that the attempts of fighting the outbreak would indirectly cause the deaths of cancer patients, gynecology patients, and other chronic diseases patients due to lack of hospital admissions and availability of medical staff. The death count of patients suffering from other diseases in low-income regions is increasing as healthcare professionals have redirected their efforts toward COVID-19 management due to the availability of limited resources and staff. In this pandemic emergency, governments are taking measures to help patients; also, doctors are now consulting their patients over a phone call or video call than in person consultation. Further, people are rescheduling their elective surgeries due to the COVID-19 crisis.
Based on type, the South and Central America medical writing market is segmented into clinical writing, regulatory writing, scientific writing, and others. In 2019, the clinical writing segment held the largest share of the market. In contrast, the regulatory writing segment is anticipated to register the highest CAGR in the market during the forecast period.
By application, the South and Central America medical writing market is segmented into medical journalism, medical education, medico marketing, and others. The medical education segment held the largest market share in 2019, whereasthe medico marketing segment is anticipated to register the highest CAGR in the market during 2020–2027.
Based on end user,the South and Central America medical writing market is bifurcated into pharmaceutical and biotechnological companies, and contract research organizations. The pharmaceutical and biotechnological segment held a larger market share in 2019, and the same segment is anticipated to register a higher CAGR in the market from 2020 to 2027.
A few of the primary and secondary sources referred to while preparing the report on the South and Central America medical writing market are the National Health Surveillance Agency (Brazil) and Unified Health System (SUS).