At 9.7% CAGR, South & Central America Medical Writing Market is Speculated to be WWorth US$ 398.63 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the South & Central America Medical Writing Market was valued at US$ 190.08 million in 2023 and is expected to reach US$ 398.63 million by 2031, registering a CAGR of 9.7% from 2023 to 2031. Implementation of tools and artificial intelligence in medical writing and high preference for CROS are among the critical factors attributed to drive the South & Central America Medical Writing Market.

The work burden of medical writers can be effectively handled with the use of AI tools that can help automate the document review and verification process. Numerous new tools are being implemented internally and at the sponsor level. For instance, online medical dictionaries such as Taber's Cyclopedic Medical Dictionary and Stedman's Medical Dictionary are developed for medical students, physicians, researchers, and medical language specialists. They include medical terms, abbreviations, acronyms, and measurements for assistance and reference.

Medical writers working in regulatory settings use standardized templates for the documents they create. Recently, Cognizant and Yseop collaborated to accelerate the delivery of scientific content in the biopharmaceutical industry through generative AI. By utilizing Yseop Copilot, medical writers working with life sciences companies can reduce writing time and enhance consistency and productivity of reports in record time. Artificial intelligence is intended to eliminate the work involved in creating certain regulatory documents along with allowing medical writers to devote their attention to more engaging aspects of document creation and contribute market growth in coming years.

On the contrary, insufficient skilled medical writers hamper the growth of South & Central America Medical Writing Market.

Based on type, the South & Central America medical writing market is segmented into clinical writing, regulatory writing, scientific writing, and others. The clinical writing segment held 44.7% market share in 2023, amassing US$ 84.88 million. It is projected to garner US$ 184.52 million by 2031 to register 10.2% CAGR during 2023–2031.

By application, the South & Central America medical writing market is segmented into medical journalism, medical education, and medico marketing. The medical journalism segment held 60.7% share of the South & Central America medical writing market in 2023, amassing US$ 115.32 million. It is projected to garner US$ 245.43 million by 2031 to expand at 9.9% CAGR from 2023 to 2031.

Based on end user, the South & Central America medical writing market is bifurcated into pharmaceutical & biotechnology companies and contract research organizations. The pharmaceutical and biotechnology companies segment held 70.9% market share in 2023, amassing US$ 134.70 million. It is projected to garner US$ 293.60 million by 2031 to register 10.2% CAGR during 2023–2031.

Based on country, the South & Central America medical writing market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 60.7% share of South & Central America medical writing market in 2023. It was assessed at US$ 115.45 million in 2023 and is likely to hit US$ 249.01 million by 2031, registering a CAGR of 10.1% during 2023 to 2031.

Key players operating in the medical writing market are Cactus Communications, Parexel International Corp, Certara Inc, Freyr LLC, Quanticate International Ltd, SIRO Clinpharm Pvt Ltd, ProPharma Group, Caidya, Wipro Ltd, SGS SA, Laboratory Corp of America Holdings, TUNECT, Indegene Ltd, Evidera, Syner-G BioPharma Group, EMTEX BV, BioAgile Therapeutics Private Limited, Tata Consultancy Services Ltd, InClin, and TransPerfect Life Sciences, among others.

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