The Essential Toolkit for Launching a Medical Writing Company
The global demand for medical writing services is experiencing significant growth. In 2023, the U.S. medical writing market size was valued at $1.33 billion with an estimated compound annual growth rate of 9.47% through 2030 (1). This growth is largely driven by the high demand for regulatory writing in the pharmaceutical and biotech sectors, as companies address backlogs from pandemic-related clinical trial delays.
This specific market growth coincides with a surge in entrepreneurial activity across sectors. Data from the U.S. Census Bureau shows a significant rise in new business applications despite current economic fluctuations. In the first two months of 2025, over 815,000 new business applications were submitted in the U.S. Although this figure represents a 7.52% decrease compared to the same period in 2024, it remains significantly above pre-pandemic averages (2, 3).
In this dynamic environment, Zahra Moosavi founded a Toronto-based medical communication agency. Prior to its official launch, Moosavi implemented several key tools to ensure her company had a solid foundation. Harnessing the right tools for strategic planning is necessary prior to launching a medical writing agency as 20% of companies fail within the first year, and two-thirds fail within ten years, with inadequate planning being a major contributor to this failure (4, 5).
Business Management Tools
Business Plan
Every business needs a business plan. A lean canvas business plan, which is a streamlined one-page document, effectively outlines major objectives, target clients, and revenue streams, offering a concise alternative to traditional multi-page plans.
Accounting Software
FreshBooks Online and Xero help manage invoicing, expenses, and financial reporting. Moosavi’s company uses FreshBooks to assist with tracking billable hours and weekly expenses, cutting down time spent on invoicing clients and filing taxes.
Business Training Resources
Free online resources such as the Service Corps of Retired Executive (SCORE; https://www.score.org/) offer valuable guidance on business management, marketing, and finance. Completing their learning modules and exercises can help new business owners with planning and education.
Writing and Productivity Tools
Writing and Editing Software
Microsoft 365 is worth investing in as it includes the latest Office applications, cloud services, and advanced security features. It is widely used by pharmaceutical companies and agencies alike, ensuring seamless collaboration with clients and synchronization of documents. For editing, Grammarly is helpful in improving structure of a document, although writers should take care to understand whether it is appropriate to use under the terms of their confidentiality agreements.
Reference Management Software
EndNote is widely used by both agencies and potential clients. Although many options for reference management exist, Moosavi advises using the software that most clients prefer to ensure synchronization between drafts. Investing in premium software is beneficial as writers should be as well-equipped as their clients in delivering excellent work.
AI Writing Assistance Tools
Newer artificial intelligence (AI) tools like Perplexity AI can assist with research and brainstorming. However, ethical use, data privacy, and human oversight are necessary for accuracy and compliance with regulations and contractual agreements.
Project Management Software
ClickUp or Notion are options to consider for streamlining workflows, managing deadlines, and tracking project progress.
Communication and Collaboration Tools
Communication Tools
Microsoft Teams and Zoom facilitate virtual meetings and messaging, enabling easy communication with clients and colleagues. For appointment scheduling, Microsoft 365's Bookings app, similar to Calendly, allows clients to conveniently book a time to meet with you or your staff.
Collaboration Tools
To facilitate efficient group work, platforms such as SharePoint or OneDrive provide secure document sharing and collaborative editing capabilities.
Marketing and Branding Tools
Website
A professional website is essential for showcasing services, building credibility, and providing information to potential clients without distractions, as can occur on LinkedIn or other platforms. Moosavi’s company has its own website (www.bitlabmed.com), built using WordPress, to direct client attention specifically to the type of work that it does.
LinkedIn is a powerful platform for networking, building a professional presence, and sharing valuable content. Moosavi maintains both a personal profile (www.linkedin.com/in/zmoosavi) and a company page (www.linkedin.com/company/bitlabmed) to stay in touch with peers and clients alike, while building credibility and potentially generating leads.
Portfolio
In the event a client asks for sample work, a strong portfolio showcasing writing samples and other relevant work can help demonstrate expertise. Portfolios may be hosted on a company website, or may consist of a curated set of files that can be shared upon request.
Professional Development Resources
Industry Associations
Professional organizations such as the American Medical Writers Association (AMWA) provide valuable resources, training, and networking opportunities. Although Moosavi’s company operates from Canada, she highly values being part of AMWA because it offers continuous learning opportunities relevant to her company’s work.
Online Courses and Webinars
Coursera and Networkpharma.tv offer additional training and information across a wide range of topics, including those related to medical communications.
Mentorship Programs
For guidance and support, Moosavi emphasizes the importance of mentorship, noting that investing in a mentor who also has experience in launching a medical writing company can significantly accelerate the learning curve.
Conclusion
Building a sustainable medical writing business requires a strategic approach along with the right tools. Planning ahead by researching these tools prior to launch potentially can improve one’s chances of success. Of course, perseverance through difficulties and continuous learning from mistakes are key; as Albert Einstein wisely said, "Failure is success in progress." But many of these hard lessons can be avoided by leveraging these resources and maintaining an insatiable thirst for learning. With these tools, medical writers starting a business can establish a strong foundation and plan for long-term success.
References
U.S. Medical Writing Market Size, Share & Trends Analysis Report by type (Clinical Writing, Regulatory Writing), by application (Medical Journalism, Medico Marketing), by end-use, and segment Forecasts, 2024 - 2030. Grand View Research. https://www.grandviewresearch.com/industry-analysis/us-medical-writing-market-report. Accessed April 10, 2025.
US Census Bureau. Business Formation Statistics - data. https://www.census.gov/econ/bfs/data.html. Published April 15, 2019.
Laycock R. New business statistics: 2005 to March 2025. finder.com. https://www.finder.com/small-business/new-businesses. Published March 13, 2025.
Horton M. The 4 Most Common Reasons a Small Business Fails. Investopedia. Published June 22, 2024. https://www.investopedia.com/articles/personal-finance/120815/4-most-common-reasons-small-business-fails.asp
U.S. Bureau of Labor Statistics. "Table 7. Survival of Private Sector Establishments by Opening Year." https://www.bls.gov/bdm/us_age_naics_00_table7.txt
About the author: From working at a research institute to an early-age start-up, and then to a large medical communication agency, Zahra Moosavi was inspired to found BitLab Med Consulting in Toronto and serve as its CEO. She received her honorary BSc in Kinesiology & Health Science, and MSc in Cell Physiology from York University.
