Artificial Intelligence (AI) in Medical Writing – Global Market Report 2024 – Market Size, Trends and Global Forecast 2024-2033
Artificial Intelligence (AI) in Medical Writing – Business Research Company Market Report 2024: Market Insights and Future Prospects
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LONDON, GREATER LONDON, UK, August 28, 2024 /EINPresswire.com/ — The global Artificial Intelligence (AI) in Medical Writing market has experienced significant growth in the past few years. It is expected to grow from $0.79 billion in 2023 to $0.91 billion by 2024, growing at a robust compound annual growth rate (CAGR) of 15.2%. Despite historic challenges, the market is expected to continue its upward trend and is estimated to reach $1.62 billion by 2028, growing at a CAGR of 15.3%. This growth is driven by increasing complexity of regulatory approvals, rising costs of medical writing, and a growing need for accurate and reliable medical content.
Increasing demand for accurate and reliable medical content drives market expansion
The increasing demand for accurate and reliable medical content is a key driver for the growth of AI in the medical documentation space. The rise in outsourcing by contract research organizations and the increasing complexity of regulatory processes require advanced solutions. In addition, trade agreements, government policies, and the general need for high-quality medical documentation are contributing to this trend. The promising environment for clinical trials as well as the increasing use of telemedicine and remote healthcare services are further driving the market growth.
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Key players and key innovations
The leading companies in 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 focus on advanced AI capabilities such as AI-powered copywriting that improves the efficiency and accuracy of document preparation for regulatory submissions. For example, TrialAssure LINK AI 2.0, launched by TrialAssure in June 2024, automates the preparation of clinical and technical documents and streamlines the authoring process from initial draft to final approval.
Trends that shape the future
Significant trends influencing the AI in medical writing market include advancements in natural language processing (NLP) and machine learning algorithms. The integration of AI with new technologies and advancements in clinical decision support systems are key in shaping the market dynamics. Growing demand for new drugs and therapies is also playing a crucial role due to the need to address unmet medical needs, combat drug resistance, and improve patient outcomes through innovative treatments.
Market segmentation
• By Type: Clinical Writing, Typing, Scientific Writing, Other Types
• By application: Regulatory documentation, automated literature search, language translation, pharmacovigilance, content modularization
• By end use: medical devices, pharmaceuticals, biotechnology, other end users
Geographical insights: North America is the market leader
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 innovations are the reason for its dominant market share. The comprehensive report offers detailed insights into regional dynamics, market trends, and growth opportunities.
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The global Artificial Intelligence (AI) in Medical Documentation market report 2024 by TBRC includes the following information:
• Market size data for the forecast period: Historical and future
• Market analysis by regions: Asia Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and much more.
Global Artificial Intelligence (AI) in Medical Writing Market report 2024 by The Business Research Company is the most comprehensive report which offers insights into the Artificial Intelligence (AI) in Medical Writing market size, Artificial Intelligence (AI) in Medical Writing market drivers and trends, key players in the Artificial Intelligence (AI) in Medical Writing market, competitors’ revenues, market positioning and market growth in different regions. The Artificial Intelligence (AI) in Medical Writing market report helps you gain deep insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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