“Global AI In Medical Writing Market to reach a market value of USD 1.72 Billion by 2031 growing at a CAGR of 12.2%”
The Global AI In Medical Writing Market size is expected to reach $1.72 billion by 2031, rising at a market growth of 12.2% CAGR during the forecast period.
Canada is also embracing AI in medical writing as part of its broader investment in healthcare, which reached approximately CAD 331 billion in 2022, according to the Canadian Institute for Health Information (CIHI). Government initiatives like the “Canada Health Infoway” aim to enhance healthcare delivery through digital solutions, emphasizing personalized medicine that tailors treatments to individual patients. Thus, The North America segment garnered 35% revenue share in the market in 2023.
Adherence to stringent regulatory requirements is paramount in the pharmaceutical and healthcare industries. Regulatory bodies such as the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and others mandate detailed and accurate documentation for every stage of drug development, clinical trials, manufacturing, and post-market surveillance. Hence, the increasing need for regulatory compliance in the pharmaceutical and healthcare sectors has driven the adoption of AI-powered solutions.
Additionally, the global expansion of clinical trials drives the need for detailed and accurate documentation, including protocols, trial results, and regulatory submissions. As clinical trials become more complex and widespread, especially in emerging markets, the volume of data generated has significantly increased.
However, the integration of AI-powered solutions into medical writing processes comes with substantial financial requirements. These costs include developing sophisticated AI algorithms, acquiring robust computing infrastructure, and ongoing maintenance. Additionally, companies must often invest in hiring or training skilled personnel to manage and optimize these systems effectively. As a result, many SMEs rely on traditional methods, missing out on the potential efficiency and accuracy gains offered by AI-driven systems. Therefore, such expansion has underscored the importance of precise and efficient documentation, driving the demand for AI in medical writing solutions.
On the basis of end use, the market is divided into medical devices, pharmaceutical, biotechnology, and others. The pharmaceutical segment acquired 32% revenue share in the market in 2023. The pharmaceutical segment is primarily driven by the rising demand for regulatory compliance and the need to manage extensive documentation for clinical trials, drug development, and safety reporting.
Based on type, the market is classified into clinical writing, type writing, scientific writing, and others. The scientific writing segment procured 27% revenue share in the market in 2023. This segment is advantageous due to the increasing demand for high-quality, data-driven medical research and scholarly content.
Free Valuable Insights: Global AI In Medical Writing Market size to reach USD 1.72 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed 28% revenue share in the market in 2023. The Asia-Pacific region is being propelled by the swift growth of the pharmaceutical and healthcare sectors, especially in developing countries like China, India, and Japan.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 697.57 Million |
| Market size forecast in 2031 | USD 1.72 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 12.2% from 2024 to 2031 |
| Number of Pages | 188 |
| Number of Tables | 280 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, End Use, Region |
| Country scope |
|
| Companies Included | Parexel International (MA) Corporation, Certara, Inc., Accenture PLC, Smarter Dx, Inc., Corti ApS, IQVIA Holdings, Inc., Abridge Al, Inc., Syneos Health, Inc., IBM Corporation, Teladoc Health, Inc. |
By Type
By End Use
By Geography
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 