PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1573717
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1573717
AI in Medical Writing Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The Global AI in Medical Writing Market was valued at USD 758.7 million in 2023 and is projected to grow at a CAGR of 13.1% from 2024 to 2032. This growth can be attributed to a heightened emphasis on streamlining medical writing, a surge in medical data, and the emergence of intelligent generative AI software solutions.
Advanced machine learning models are transforming document generation, allowing for a deeper comprehension and articulation of intricate medical language. These models now boast enhanced accuracy and contextual relevance in document interpretation and production. Furthermore, AI-driven analytics are streamlining data analysis, leading to more insightful and data-centric medical writing. A notable trend is the rising application of AI in personalized medicine, where AI tools craft customized patient education materials and treatment plans tailored to individual patient data.
The AI in medical writing industry is classified into type, deployment mode, end-use, and region.
The market categorizes its offerings into clinical writing, scientific writing, regulatory writing, and patient documentation. In 2023, the clinical writing segment emerged as the front runner, raking in USD 285 million. Clinical writing encompasses the formulation of detailed reports, protocols, and other pivotal documents crucial for the endorsement and supervision of novel drugs and medical devices. Given the intricate nature and vast volume of clinical data produced during trials, precise documentation is paramount. This ensures adherence to regulatory benchmarks and aids in accurate data analysis and interpretation.
AI in medical writing market serves various end-users, including pharmaceutical and biotechnology firms, academic and research institutions, medical device manufacturers, and others. In 2023, pharmaceutical and biotechnology companies led the market and are projected to achieve USD 319.6 million by 2032. This dominance in the AI-driven medical writing arena stems from their extensive documentation demands in drug development and regulatory processes. With data pouring in from clinical trials, preclinical studies, and regulatory submissions, these entities necessitate meticulous documentation to bolster their research and secure product endorsements.
In 2023, North America commanded a revenue of USD 282.6 million in the AI in medical writing market, with projections of a 12.4% CAGR from 2024 to 2032 fueled by its sophisticated healthcare infrastructure and a pronounced embrace of technology. Moreover, heightened investments and funding from companies are propelling regional market growth.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market scope and definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Rising adoption of AI in healthcare
- 3.2.1.2 Growing volume of medical data
- 3.2.1.3 Increasing demand for efficiency and cost reduction
- 3.2.1.4 Technological advancements
- 3.2.1.5 Shortage of skilled medical writers
- 3.2.2 Industry pitfalls and challenges
- 3.2.2.1 High initial investment costs
- 3.2.2.2 Data privacy and security concerns
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape
- 3.5 Start-up scenarios
- 3.6 Technology landscape
- 3.7 Porter's analysis
- 3.8 PESTEL analysis
- 3.9 AI in medical applications
- 3.10 Future market trends
- 3.11 Gap analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company matrix analysis
- 4.3 Competitive analysis of major market players
- 4.4 Competitive positioning matrix
- 4.5 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Type, 2021 - 2032 ($ Mn)
- 5.1 Key trends
- 5.2 Clinical writing
- 5.3 Regulatory writing
- 5.4 Patient documentation
- 5.5 Scientific writing
Chapter 6 Market Estimates and Forecast, By Deployment Mode, 2021 - 2032 ($ Mn)
- 6.1 Key trends
- 6.2 Cloud-based
- 6.3 On-premises
Chapter 7 Market Estimates and Forecast, By End-use, 2021 - 2032 ($ Mn)
- 7.1 Key trends
- 7.2 Pharmaceutical and biotechnology companies
- 7.3 Medical device companies
- 7.4 Academic and research institutes
- 7.5 Other end-users
Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Spain
- 8.3.5 Italy
- 8.3.6 Netherlands
- 8.3.7 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 South Korea
- 8.4.6 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Rest of Latin America
- 8.6 Middle East and Africa
- 8.6.1 South Africa
- 8.6.2 Saudi Arabia
- 8.6.3 UAE
- 8.6.4 Rest of Middle East and Africa
Chapter 9 Company Profiles
- 9.1 Artos
- 9.2 Cactus Communications
- 9.3 CureMetrix, Inc.
- 9.4 Elsevier
- 9.5 Epic Systems Corporation
- 9.6 Freyr
- 9.7 GENINVO
- 9.8 GNS Healthcare, Inc.
- 9.9 IBM Corporation
- 9.10 NVIDIA Corporation
- 9.11 Parexel International (MA) Corporation
- 9.12 Pearson
- 9.13 TrialAssure
- 9.14 Trilogy Writing and Consulting GmbH
- 9.15 Yseop
