New York, United States, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The Global AI In Medical Writing Market Size is to Grow from USD 0.63 Billion in 2022 to USD 1.87 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period.
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AI is revolutionizing medical writing by streamlining and enhancing various aspects of the field. Natural language processing (NLP) algorithms are being employed to automate the generation of clinical reports, research papers, and patient documentation, significantly reducing the time and effort required for these tasks. AI-driven tools assist in literature review processes, helping researchers identify relevant studies and extract pertinent information efficiently. Furthermore, machine learning models are aiding in the development of predictive models for disease diagnosis and patient outcomes, revolutionizing clinical decision support systems. AI also plays a crucial role in language translation, enabling medical information to be disseminated globally. However, while AI in medical writing offers numerous advantages, ensuring data security, accuracy, and ethical considerations remain essential challenges to address in this rapidly evolving landscape.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global AI In Medical Writing Market Size, Share, and COVID-19 Impact Analysis, By Type (Clinical Writing, Type Writing, Scientific Writing, and Others), By End-Use (Medical Devices, Pharmaceutical, Biotechnology, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032."
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In 2022, the typewriting segment accounted for around 30.6% market share
On the basis of the type, the global AI in medical writing market is segmented into clinical writing, typewriting, scientific writing, and others. The typewriting segment has emerged as the dominant force in the market, commanding the largest revenue share due to its widespread applicability and diverse user base. Typewriting, as a fundamental skill, remains a cornerstone in various industries, including administrative, legal, educational, and professional sectors. Moreover, the enduring use of typewriters in official documentation and paperwork ensures a consistent demand for typewriting services. The segment's prominence is further enhanced by its adaptation to modern technology, with typewriting services transitioning into digital formats and embracing AI-enhanced tools, allowing for increased efficiency and accuracy while maintaining its integral role in document creation and management.
The pharmaceutical segment held the largest market with more than 32.5% revenue share in 2022
Based on the end-use, the global AI in medical writing market is segmented into medical devices, pharmaceutical, biotechnology, and others. The pharmaceutical segment has firmly established its dominance in the market, capturing the largest revenue share due to several compelling factors. The pharmaceutical industry is characterized by extensive research, stringent documentation requirements, and the critical need for accurate medical writing, including clinical trial reports, drug documentation, regulatory submissions, and scientific publications. As a result, pharmaceutical companies heavily rely on professional medical writing services and increasingly integrate AI-powered tools to enhance efficiency and compliance. Furthermore, the continual development of new drugs and therapies, coupled with stringent regulatory standards, ensures a sustained demand for medical writing services in this sector, solidifying its significant revenue share
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Asia-Pacific is predicted to grow at a fastest CAGR of around 11.8% over the projected period.
Based on region, Asia Pacific is projected to experience the fastest growth in the AI in medical writing market over the forecast period for several compelling reasons. The region is witnessing a burgeoning healthcare sector, with increasing investments in research and development. Moreover, the vast patient population and the rising demand for healthcare services have created a strong imperative for efficient medical writing solutions, where AI can play a pivotal role. Additionally, the region's expanding digital infrastructure, rapid technological advancements, and a growing awareness of AI's potential benefits in healthcare are expected to drive significant adoption.
North America has asserted its dominance in the market, capturing a significant revenue share due to robust healthcare infrastructure, including top-tier research institutions and advanced medical facilities, which facilitates the integration and adoption of AI in medical writing. Furthermore, North America is home to many leading AI and tech companies specializing in healthcare solutions, driving innovation and development in the sector. Additionally, favorable regulatory frameworks and a high level of awareness and acceptance of AI technologies in healthcare contribute to its market leadership.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global AI in medical writing market include Trilogy Writing & Consulting GmbH, Cactus Communications, Certara's, Freyr, GENINVO, Indegene, Jasper.ai, Morula health, Parexel International Corporation, Symbiance AI Inc., Turacoz, Webicina Kft., Yseop S.A.S and Others.
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Recent Developments
- In June 2022, Yesop, an AI and Natural Language Processing (NLP) firm, collaborated with Sanofi to improve the automation of safety reporting. As a result, these corporate partnerships are expected to fuel market expansion throughout the projection period.
- In March 2021, ClinicalTrials.gov listed 454,928 active recruiting trials. Leading pharmaceutical, medical device, and biotechnology businesses devote a significant amount of their income to R&D efforts in order to maintain their market position through the release of game-changing innovations.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global AI in medical writing market based on the below-mentioned segments:
AI In Medical Writing Market, By Type
- Clinical Writing
- Type Writing
- Scientific Writing
- Others
AI In Medical Writing Market, By End-Use
- Medical Devices
- Pharmaceutical
- Biotechnology
- Others
AI In Medical Writing Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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