Artificial Intelligence (AI) in Medical Writing Market Report 2024: Market Insights And Future Outlook
Artificial Intelligence (AI) In Medical Writing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Artificial Intelligence (AI) in Medical Writing Market Report 2024: Market Insights And Future Outlook
LONDON, GREATER LONDON, UK, August 28, 2024 /EINPresswire.com/ -- The global artificial intelligence (AI) in medical writing market has experienced substantial growth in recent years. It is projected to grow from $0.79 billion in 2023 to $0.91 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 15.2%. Despite historical challenges, the market is set to continue its upward trajectory, reaching an estimated $1.62 billion by 2028, with a CAGR of 15.3%. This growth is driven by the increasing complexity of regulatory approvals, rising costs of medical writing, and a growing need for accurate and reliable medical content.
Rising Need for Accurate and Reliable Medical Content Fuels Market Expansion
The expanding demand for precise and reliable medical content is a major driver behind the growth of AI in medical writing. The rise in contract research organization outsourcing and the escalating complexity of regulatory processes necessitate advanced solutions. Additionally, trade agreements, government policies, and the overall need for high-quality medical documentation contribute to this trend. The promising environment for clinical studies, coupled with the increasing adoption of telemedicine and remote healthcare services, further fuels market growth.
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Key Players and Major Innovations
Major companies leading the artificial intelligence (AI) in medical writing market include International Business Machines Corporation, IQVIA Holdings Inc., Icon PLC, Syneos Health Pvt Ltd, and Parexel International Corporation. These companies are focusing on advanced AI features such as AI-powered drafting, which enhances the efficiency and accuracy of document creation for regulatory submissions. For instance, TrialAssure LINK AI 2.0, introduced by TrialAssure in June 2024, automates the creation of clinical and technical documents, streamlining the authoring process from initial drafting to final approval.
Trends Shaping the Future
Significant trends impacting the AI in medical writing market include advancements in natural language processing (NLP) and machine learning algorithms. The integration of AI with emerging technologies and advancements in clinical decision support systems are pivotal in shaping market dynamics. The growing demand for new pharmaceutical drugs and therapies also plays a crucial role, driven by the need to address unmet medical needs, combat drug resistance, and improve patient outcomes through innovative treatments.
Market Segmentation
• By Type: Clinical Writing, Type Writing, Scientific Writing, Other Types
• By Application: Regulatory Documentation, Automated Literature Review, Language Translation, Pharmacovigilance, Content Modularization
• By End Use: Medical Devices, Pharmaceutical, Biotechnology, Other End Users
Geographical Insights: North America Leads the Market
North America was the largest region in the AI in medical writing market in 2023 and is expected to maintain its leadership position. The region's advanced digital infrastructure, along with its strong focus on healthcare innovation, drives its dominant market share. The comprehensive report offers detailed insights into regional dynamics, market trends, and growth opportunities.
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Artificial Intelligence (AI) In Medical Writing Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Artificial Intelligence (AI) In Medical Writing Global Market Report 2024 by The Business Research Company1 is the most comprehensive report that provides insights on artificial intelligence (AI) in medical writing market size, artificial intelligence (AI) in medical writing market drivers and trends, artificial intelligence (AI) in medical writing market major players, competitors' revenues, market positioning, and market growth across geographies. The artificial intelligence (AI) in medical writing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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