The artificial intelligence (ai) in medical writing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence (AI) In Medical Writing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence (AI) in medical writing market size has grown rapidly in recent years. It will grow from $0.79 billion in 2023 to $0.91 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to the rise in contract research organization outsourcing, rising cost of medical writing, trade agreements and government policies, the increased complexity in the approval of regulatory process and growing need for accurate and reliable medical content.
The artificial intelligence (AI) in medical writing market size is expected to see rapid growth in the next few years. It will grow to $1.62 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to the promising environment for clinical study, increasing adoption of telemedicine and remote healthcare services, expanding digital infrastructure, growing awareness of AI’s potential benefits in healthcare, and the growing need for accurate and reliable medical content. Major trends in the forecast period include advancements in natural language processing (NLP) and machine learning algorithms, adoption of machine learning (ML), the rise of digital health services, integration with emerging technologies, and advancements in clinical decision support systems.
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Scope Of Artificial Intelligence (AI) In Medical Writing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) In Medical Writing Market Overview
Market Drivers –
Increasing demand for new pharmaceutical drugs and therapies is expected to propel the growth of artificial intelligence (AI) in the medical writing market going forward. The increasing demand for new pharmaceutical drugs and therapies is driven by the continual need to address unmet medical needs, treat emerging diseases, combat drug resistance, and improve patient outcomes through innovative and more effective treatments. AI in medical writing within the pharmaceutical and drug production sectors enhances efficiency, accuracy, and innovation, contributing to the development of safer and more effective therapies for various medical conditions. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a European trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, increasing demand for new pharmaceutical drugs and therapies will drive the growth of artificial intelligence (AI) in the medical writing market.
Market Trends –
Major companies operating in AI in the medical writing market are focused on integrating advanced features such as AI-Powered drafting to enhance efficiency and accuracy in document creation and management for regulatory submissions and medical communications. AI-powered drafting uses artificial intelligence algorithms to automatically generate initial drafts or outlines of documents, leveraging machine learning and natural language processing to assist in content creation tasks. For instance, in June 2024, TrialAssure, a US-based pharmaceutical technology provider, introduced TrialAssure LINK AI 2.0. This enhanced version enables pharmaceutical and biotechnology firms, clinical research organizations, and service providers to efficiently generate regulatory and medical writing documents using AI. The solution automates the creation of diverse clinical and technical documents, spanning from initial drafting to final approval stages, streamlining the entire authoring process.
The artificial intelligence (AI) in medical writing market covered in this report is segmented –
1) By Type: Clinical Writing, Type Writing, Scientific Writing, Other Types
2) By Application: Regulatory Documentation, Automated Literature Review, Language Translation, Pharmacovigilance, Content Modularization
3) By End Use: Medical Devices, Pharmaceutical, Biotechnology, Other End Users
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Regional Insights –
North America was the largest region in the artificial intelligence (AI) in medical writing market in 2023. The regions covered in the artificial intelligence (AI) in medical writing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the artificial intelligence (AI) in medical writing market are International Business Machines Corporation, IQVIA Holdings Inc., Icon PLC, Syneos Health Pvt Ltd, Parexel International Corporation, Veeva Systems, Cactus Communications, Tata Elxsi, Allucent Inc , Certara Inc , Freyr Solutions , Amplity Health, Indegen Limited, MMS Holdings Inc., Jasper AI Inc, Symbiance AI Inc, GenInvo Technologies Pvt. Ltd., Trilogy Writing & Consulting GmbH, Yseop S.A.S., Turacoz Healthcare Solution, Averbis GmbH, EMTEX Life Sciences, DeepCura AI, Dezzai Inc , Narrativa Inc
Table of Contents
1. Executive Summary
2. Artificial Intelligence (AI) In Medical Writing Market Report Structure
3. Artificial Intelligence (AI) In Medical Writing Market Trends And Strategies
4. Artificial Intelligence (AI) In Medical Writing Market – Macro Economic Scenario
5. Artificial Intelligence (AI) In Medical Writing Market Size And Growth
…..
27. Artificial Intelligence (AI) In Medical Writing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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