AI In Medical Writing Market Size, Share & Trends Analysis Report By Type (Scientific Writing, Clinical Writing, Type Writing), By End-use (Medical Devices, Pharmaceutical, Biotechnology), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global AI in medical writing market size was estimated at USD 690.80 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.44% from 2023 to 2030. The rising R&D spending and growing demand for tailored medical writing are driving Artificial Intelligence (AI) in the precision medicine market growth. The high demand for AI can be attributed to increased R&D investments by market players, a rise in CRO outsourcing, new medical device regulations, and a promising environment for clinical study in developing countries. The COVID-19 pandemic had a moderate effect on the market for AI in medical writing. Clinical studies and research & development efforts were put on hold as a result of the pandemic.

Furthermore, several pharmaceutical firms cut back on their investments due to fiscal constraints. Early on in the pandemic, fewer submissions were made to medical journals, which had a detrimental effect on market expansion. According to the Congressional Budget Office (CBO) report, released in April 2021, the pharmaceutical industry invests three times more in R&D compared to other high-tech sectors like computer and software services. In 2019, R&D expenditures in the United States pharmaceutical sector amounted to USD 83 billion. Approximately 30 leading pharmaceutical companies have established partnerships with at least one Contract Research Organization (CRO) to uphold their product portfolios.

The demand for comprehensive methodologies in all stages of product development by regulatory authorities has led to increased complexity in the approval process, thereby driving market growth in the coming years. Moreover, insurance companies require detailed drug information to establish reimbursement policies. Consequently, pharmaceutical companies are facing challenges in complying with industry standards. R&D activities offer key market players with a competitive advantage in the market. As of March 2021, ClinicalTrials.gov reported a total of 454,928 active recruitment studies. Prominent pharmaceutical, medical devices, and biotechnology companies allocate a considerable portion of their revenues to R&D activities, aiming to sustain their market position through the introduction of groundbreaking products.

Type Insights

The type segment consists of clinical writing, typewriting, scientific writing, and others. The typewriting segment dominated the market and accounted for the largest revenue share of 32.89% in 2022. It is employed during the entire process of product development for scientific documentation. It is essential for unfolding and reporting statistics from clinical trials for regulatory applications and authorization. When the drug or product gets authorization, post-approval regulatory certification is requisite. As a consequence of the strict restrictions, there is more paperwork.

This, in turn, is increasing the demand for AI in medical writing, which is promoting the segment's growth. The clinical writing segment is anticipated to witness the fastest CAGR of 13.22% during the forecast period. Clinical writing is used by medical professionals regularly and a clinical writer must have a thorough knowledge of the clinical culture as well as language. An understanding of the objective reader and the purpose is obligatory for effective clinical writing. Thus, the increasing clinical trials are anticipated to boost the demand for AI in medical writing.

End-use Insights

The end-use segment consists of medical devices, pharmaceuticals, biotechnology, and others. The pharmaceutical segment dominated the market and accounted for a revenue share of 33.29% in 2022. Pharmaceutical companies invest heavily in R&D activities to develop new drugs and treatments. They generate vast amounts of data from clinical trials, preclinical studies, and scientific literature. This wealth of data serves as a valuable resource for training AI models in medical writing tasks. Moreover, several companies have agreed that AI solution has reduced the medical writer’s time by 80%.

Thus, these factors are likely to favor the growth of the segment during the forecast period. The medical devices segment is anticipated to witness the fastest CAGR of 13.52% during the forecast period. Natural Language Processing (NLP) algorithms and tools have gained popularity in medical writing to automate tasks, such as literature review, data extraction, and summarization of research articles. These tools can help medical writers streamline their work, improve efficiency, and reduce errors. Thus, it is likely to favor the segment growth.

Regional Insights

Based on regions, the industry has been further categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America dominated the market with a revenue share of 30.12%. Clinical writing in the U.S. for clearance from FDA requires a thorough awareness of the requirements set down by the regulatory body. The applications for FDA registration must be accurate and succinct.

Asia Pacific is anticipated to witness the fastest CAGR of 13.65% over the forecast period due to rising healthcare expenditureand demand for efficient healthcare solutions. Moreover, rapid technological advancements in countries like China, Japan, South Korea, and India have been at the forefront of technological advancements in AI. These advancements have created opportunities for the development and adoption of AI-powered medical writing tools and solutions.

Key Companies & Market Share Insights

Companies are focusing on the expansions, development of innovative medical devices, and technological advances. Moreover, mergers and acquisitions for novel product development constitute some of the strategic initiatives implemented by major players. For instance, in June 2022, Yesop, a company specializing in AI and Natural Language Processing (NLP), partnered with Sanofi to enhance the automation of safety reports. Thus, these collaborations among companies are anticipated to fuel market growth over the forecast period. Some prominent players in the global AI in medical writing market include:

• Parexel International Corporation

• Trilogy Writing & Consulting GmbH

• Freyr

• Cactus Communications

• GENINVO

AI In Medical Writing Market Report Scope

Global AI in Medical Writing Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global AI in medical writing market report based on type, end-use, and region:

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Clinical Writing

  • Type Writing

  • Scientific Writing

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Medical Devices

  • Pharmaceutical

  • Biotechnology

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait