Global Artificial Intelligence (AI) in Medical Writing Market Size/Share Envisaged to Reach USD 2,072.30 Million by 2032, Growing at a 12.1% CAGR: Polaris Market Research

NEW YORK, Oct. 5, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "AI in Medical Writing Market Share, Size, Trends, Industry Analysis Report, By Type (Scientific Writing, Clinical Writing, Type Writing), By End-use (Medical Devices, Pharmaceutical, Biotechnology), By Region, And Segment Forecasts, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global artificial intelligence (AI) in medical writing market size/share was valued at USD 684.19 Million in 2022 and is expected to touch USD 2,072.30 Million by 2032, growing at a CAGR of 12.1% during the forecast period."

What is Artificial Intelligence (AI) in Medical Writing? How Big is Artificial Intelligence (AI) in Medical Writing Market Size & Share?

• Report Overview

AI and related software have gathered notable mindfulness in the past few years since the deliverance of a massive language model known as generative pre-trained transformer 3. AI-driven instruments provide notable value covering several industries involving medical writing. The rapidly rising demand for AI in medical writing market has been attributed to medical writers having more time to undertake crucial tasks and projects that utilize their complete possibilities rather than ingesting their time and skill in tasks of a monotonous nature.

The key element pushing the market expansion is the increasing approval of machine learning, such as AI, in the healthcare industry. The growing R&D disbursement and escalating demand for customized medical writing is pushing the market growth. The escalated AI can be credited to enhanced R&D funding by market players, a surge in CRO outsourcing, contemporary medical device regulations, and a favorable habitat for clinical studies in developing nations.

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Some of the Top Market Players Covered Are:

• Cactus Communications
• Freyr
• GENINVO.
• Parexel International
• Trilogy Writing & Consulting

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Artificial Intelligence (AI) in Medical Writing Market: Report Scope

Key Growth Driving Factors

• Increasing R&D activities: Market players are funding more in research and development ventures, causing a higher demand for AI solutions in precision medicine. The AI in medical writing market size is expanding as there is a surge in the outsourcing of clinical research to Contract Research Organization (CRO), additionally fuelling the demand for AI in medical writing.
• Competitive market: To steer the intricate regulatory topography and encounter the demands of insurance firms, R&D activities have become cardinal for significant market players in the pharmaceutical, medical devices, and biotechnology sectors. The AI in medical writing market sales are soaring as these firms assign a sizeable portion of their revenues to R&D endeavors to keep abreast of the competitive market.
• NLP algorithms: AI is transforming medical writing by simplifying and improvising many facets of the field. Natural Language Processing algorithms are being engaged to automate the generation of clinical reports, research papers, and patient documentation, notably lessening the time and endeavor needed for these tasks.
• Machine learning models: Machine Learning models are helping the advancement of predictive models for disease identification and patient results, transforming clinical decision support systems. It also contributes towards language translation, sanctioning medical information to be distributed globally.

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Recent Trends Influencing the Market

• Growth of technologies and services: The increasing demand for strategies in phases of drug advancement by the regulatory bodies has escalated intricacies in the drug approval procedure. Regulatory bodies worldwide, such as the US Food and Drug Administration and the European Medicines Agency, need thorough testing and massive data to guarantee the welfare and success of contemporary drugs and medical devices prior to their approval for market release. The prominence of panoramic strategies and data-propelled proof has pushed the AI in medical writing market growth for technologies and services that reinforce effective and strong advancement procedures.
• Enhancing efficacy: The growing demand to lessen healthcare disbursements and the escalating R&D funding by pharmaceutical firms to maximize their procedures and lessen prices are pushing market growth. AI-powered medical writing instruments and clarification offer the possibility to simplify several tasks, enhance efficacy, and lessen manual endeavors, finally causing cost savings for healthcare organizations and pharmaceutical firms. The increasing acquisition of machine learning, especially AI, in the healthcare industry is the prominent driver of market expansion. AI-fuelled solutions have portrayed notable possibilities in enhancing patient care, diagnostic precision, and treatment consequences, causing the growing acquisition of healthcare providers and pharmaceutical firms.

Segmental Analysis

• The typewriting segment dominated the market

Based on type, the typewriting segment dominated the market. AI in medical writing market demand is on the rise as this segment performs an important role all around the product development procedure, especially in scientific documentation. It is influential in assembling and reporting statistical data from clinical trials, which is important for regulatory requests and acquiring consent for drugs or products. Succeeding to receiving authorization, the post-approval stage needs meticulous regulatory attestation, which frequently includes vast paperwork because of strict regulations and conformity needs. Thus, because of these strict limitations, the typewriting segment stays extremely relevant and in demand, as it eases correct and panoramic authentication to encounter regulatory degrees.

• The pharmaceutical segment is projected to hold a notable market share

Based on end use, the pharmaceutical segment is projected to hold a notable market share. The AI in medical writing market trends include pharmaceutical firms assigning sizeable resources to R&D endeavors inclined at detecting and advancing contemporary drugs and treatments. Covering the drug-advancing procedures, these firms assemble massive data from clinical trials, pre-clinical reading, and scientific literature. This data becomes of use as an advantage for training AI models in medical writing tasks.

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Geographical Overview

North America: This region held the largest AI in medical writing market share due to the fact that within North America, clinical writing in the US is of special significance as it includes casting about permission from the FDA. Encountering the FDA's regulatory needs demand a panoramic comprehension of the guidelines determined by the regulatory body. The appeal for FDA registration must be accurate and concise to guarantee conformity and victorious acceptance.

Asia Pacific: The growth of this region can be credited to growing healthcare disbursement and an increasing demand for successful healthcare solutions in the region. Additionally, nations such as China, Japan, South Korea, and India have been observing speedy technological progressions, especially in the arena of AI. These technological progressions have charted the course for the appearance of AI-powered medical writing instruments and solutions according to notable opportunities for acquisition and progression in the region's healthcare industry.

Browse the Detail Report "AI in Medical Writing Market Share, Size, Trends, Industry Analysis Report, By Type (Scientific Writing, Clinical Writing, Type Writing), By End-use (Medical Devices, Pharmaceutical, Biotechnology), By Region, And Segment Forecasts, 2023 - 2032" with in-depth TOC: https://polarismarketresearch.com/industry-analysis/ai-in-medical-writing-market

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Recent Developments

• In June 2022, Sanofi, in collaboration with Yesop, a company specializing in AI and Natural Language Processing (NLP), aims to improve the automation of safety reports.

Polaris Market Research has segmented the AI in medical writing market report based on type, end use, and region:

By Type Outlook

• Clinical Writing
• Type Writing
• Scientific Writing
• Others

By End Use Outlook

• Medical Devices
• Pharmaceutical
• Biotechnology
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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