SOURCE: Cutting Edge Information

Cutting Edge Information

February 04, 2016 15:20 ET

Medical Education Budgets Increase up to 500 Percent Among Surveyed Companies in 2016, According to Cutting Edge Information

RESEARCH TRIANGLE PARK, NC--(Marketwired - February 04, 2016) -  Twenty-one percent of surveyed global teams reported an increase in medical education budgets from 2015 to 2016, according to primary intelligence provider Cutting Edge Information. Budgets from the remaining surveyed global teams are expected to remain same. This increase shows the overall growth or consistency in companies' medical affairs subfunctions for 2015.

Surveyed Top 50 companies will increase their budgets between five and 10 percent while small companies will increase their budgets up to 500 percent. "Medical Affairs Management: Igniting Innovative Global Strategies," available at http://www.cuttingedgeinfo.com/research/medical-affairs/global-resource-allocation/, reports that despite smaller planned increases, overall medical education budgets among surveyed global teams will remain higher at Top 50 companies than at small companies.

"One area that will benefit from increased medical education funding is staffing levels," said Natalie DeMasi, senior analyst at Cutting Edge Information. "Compared with global medical information and publications staffing, these teams are lean."

Medical education staffing numbers are due to increase, however, because of the value that medical education programs can bring to a team's community by satiating stakeholders' thirst for knowledge. Thirty-one percent of surveyed global companies plan to increase staffing in 2016. Surveyed small companies report that they will increase staffing by up to 100 percent.

"Medical Affairs Management: Igniting Innovative Global Strategies," available at http://www.cuttingedgeinfo.com/research/medical-affairs/global-resource-allocation/, analyzes medical affairs subfunction budgets, staffing and outsourcing data by team region. Report highlights include:

  • Data showing 2015 budget per supported product and per FTE
  • Data showing the number of outsourced medical affairs FTEs
  • Budget allocations per year (2014-16) for total medical affairs budget
  • Profiles showing 12 medical affairs teams' budget and staffing data

For more information about Medical Affairs Management: Igniting Innovative Global Strategies and medical communication team budgets, please visit http://www.cuttingedgeinfo.com/research/medical-affairs/global-resource-allocation/

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