AI-based Clinical Trials Solution Provider Market is Anticipated to Expand and Reach US$ 5.86 Billion by the end of 2028 with 21.5% CAGR

The global AI-based clinical trials solution provider market size reached USD 1.24 Billion in 2020 and is expected to register a revenue CAGR of 21.5% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of Artificial Intelligence (AI)-enabled digital technology is a key factor driving global AI-based clinical trials solution provider market revenue growth. The market for AI-based clinical trial solution providers is being driven by the growing usage of AI-based platforms to enhance the efficiency and efficacy of trials at various stages. Some of the other reasons boosting the market expansion include the supportive activities by the governmental and private sectors for various therapeutic areas. Additionally, the market is being supported by the growing awareness of AI's applications in clinical trials, such as drug trial design, better patient selection, location selection, patient monitoring, etc.

The increasing use of AI in drug trials and the accessibility of AI-based solutions can aid in a variety of clinical trial processes, including drug trial design, patient enrichment and enrollment, investigator and site selection, patient monitoring, medication adherence, and many more, which is accelerating the market's expansion. According to studies, patient enrollment and eligibility are two critical steps for the overall effectiveness of a drug study. 85% of drug trials are delayed during patient recruiting, and 30% are abandoned early due to poor enrollment. Platforms powered by AI are helping to lower this barrier. As a result, a lot of researchers are utilising AI in medication trials, which is encouraging the market for companies that offer AI-based clinical trial solutions to expand.

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The Global AI-based Clinical Trials Solution Provider Market Research Report provides a brief overview inclusive of the competitive landscape and key developments, policies, manufacturing costs, and processes. The report also provides the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. The report further discusses in detail the driving factors influencing the growth of the market currently and in the coming years.

Competition in the AI-based Clinical Trials Solution Provider Market

The AI-based Clinical Trials Solution Provider Market report contains information on leading vendors' product launches, sustainability, and prospects, such as: The report also discusses the key players involved in the market such as AiCure, LLC, Unlearn.AI, Inc., BioAge Labs Inc., Antidote Technologies, Inc., Saama Technologies Inc., International Machine Business Corporation (IBM), Concentro Health AI, Deep 6 AI Inc., PathAI Inc., and Owkin Inc.

Some Key Highlights from the Report

Phase-II segment is expected to account for largest revenue share over the forecast period, attributable to increasing number of second phase clinical trials active in the field of oncology and increasing focus on phase-II trail for developing effective treatment approach for specific types of diseases such as acute leukemia, glioblastoma, and Alzheimer's disease.

Cancer segment is expected to account largest revenue share over the forecast period due to rising focus on integrating AI in cancer care to improve speed and accuracy of cancer diagnosis, to aid in clinical decision-making, and lead to improved healthcare outcomes, coupled with increasing investment in AI-enabled clinical trials to develop novel therapeutic drugs for cancer treatment.

Contract Research Organizations (CROs) segment is expected to register a significantly robust CAGR in terms of revenue over the forecast period owing to rising implementation of AI-based solutions to improve clinical trial design, increasing number of research studies conducted to develop therapeutics for cardiovascular diseases, cancer, metabolic disorders, Central Nervous System Disorders (CNS), and increasing number of partnerships with biopharmaceutical companies in niche drug discovery.

North America is expected to account for largest revenue share over the forecast period due to increasing prevalence of targeted diseases and growth in number of start-ups focusing on developing AI-based technology and platforms to improve trial success rates, lower trial costs, and enable researchers to manage clinical trial workflows more efficiently.

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The AI-based Clinical Trials Solution Provider Market  research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global AI-based Clinical Trials Solution Provider Market  . The report offers in-depth research and assessment of the key elements of the global AI-based Clinical Trials Solution Provider Market  . The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the AI-based Clinical Trials Solution Provider Market  .

Emergen Research has segmented the global AI-based clinical trials solution provider market on the basis of clinical trial phase, therapeutic application, end-use, and region:

Clinical Trial Phase Outlook (Revenue, USD Billion; 2018-2028)

Phase-I

Phase-II

Phase-III

Therapeutic Application Outlook (Revenue, USD Billion; 2018-2028)

Cancer

Cardiovascular Disease

Neurological Disease

Metabolic Disease

Infectious Disease

Others

End-use Outlook (Revenue, USD Billion; 2018-2028)

Pharmaceuticals

Academia

Contract Research Organizations (CROs)

Regional Outlook: (Revenue, USD Billion; 2018-2028)

North America (U.S.) (Canada) (Mexico)

Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)

Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)

Latin America (Brazil) (Rest of LATAM)

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Why should you buy this AI-based Clinical Trials Solution Provider Market report?

• The study paper dissects the total market potential of major regions with strengths, opportunity and challenge, constraints, and dangers.

• By identifying the high-improvement locations, the study inspects the open entryways, keeping an eye out for accomplices.

• It examines each submarket in terms of a single improvement design and its contribution to the market.

• It examines the recent developments, such as advancements, business strategies, new product releases, and acquisitions.

• It purposefully profiles the major market players and thoroughly investigates their advancement strategies.

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