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Unveiling the Size and Forecast of Artificial Intelligence (AI) in Clinical Trials Market Through 2032 - Medable Inc., PathAI inc., Saama Technologies Inc
Artificial Intelligence (AI) In Clinical Trials Market
The Business Research Company's Artificial Intelligence (AI) In Clinical Trials Global Market Report 2023 identifies the growing need to curb clinical trial costs is expected to propel the growth of artificial intelligence in the clinical trial market going forward. Clinical trials refer to research studies used to test medical, surgical, or behavioral intervention in people, and the costs of clinical trials include the cost of the research and the cost of patient care. Drug development and other clinical trial processes are costly by nature, and artificial intelligence is used to provide better drug discovery, better designed and safer clinical trials, and improved patient outcomes at lower costs. For instance, in February 2023, according to Genetic Engineering and Biotechnology News, a US-based platform that provides the latest information on genetic engineering and biotechnology, developing a new drug among the top 20 global biopharma companies rose by 15% from $298 million in 2022 to approximately $2.3 billion in 2023, and this includes the costs incurred from developing a drug through clinical trials.
The global artificial intelligence (AI) in clinical trials market is expected to grow from $1.19 billion in 2022 to $1.52 billion in 2023 at a compound annual growth rate (CAGR) of 28.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence (AI) in clinical trials market is expected to reach $3.89 billion in 2027 at a CAGR of 26.4%.
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Major competitors in the artificial intelligence (AI) in clinical trials market are Medable Inc., PathAI inc., Saama Technologies Inc., Apellis Pharmaceuticals Inc., TriNetX LLC, SymphonyAI Summit Inc., Aktana, Nference Inc., Insilico Medicine Inc., Vineti Inc., Innoplexus AG, Healx, AiCure Inc., MEDIAN Technologies SA, Owkin Inc.
A key trend in the Artificial Intelligence (AI) In Clinical Trials market includes innovative product offerings. Major companies in the artificial intelligence in clinical trials market have introduced innovative product offerings to sustain their position in the market. For instance, in January 2023, Elligo Health Research Inc., a US-based healthcare-enabling research organization, launched DataAI Connect, an innovative data and technology platform that enables rapid, data-driven clinical research. The platform effortlessly gathers, manages, evaluates, and shares real-world patient data, presenting a comprehensive strategy to overcome clinical trial obstacles instead of acting as an accessory technology.
Read More On The Global Artificial Intelligence (AI) In Clinical Trials Market Report Here: https://www.thebusinessresearchcompany.com/report/artificial-intelligence-ai-in-clinical-trials-global-market-report
The Artificial Intelligence (AI) In Clinical Trials market is segmented -
1) By Offering: Software, Services
2) By Process: Trial Design, Patient Selection, Site Selection, Patient Monitoring
3) By Application: Oncology, Neurological Disease And Condition, Cardiovascular Disease, Metabolic Disease, Infectious Disease, Immunology Disease, Other Applications
4) By End-User: Pharmaceutical And Biotechnology Company, Contract Research Organizations, Other End-Users
5) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the artificial intelligence (AI) in clinical trials market.
The Business Research Company's "Global Artificial Intelligence (AI) In Clinical Trials Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
Explore Buying Options For The Artificial Intelligence (AI) In Clinical Trials Market Report Here: https://www.thebusinessresearchcompany.com/sample_request?id=12603&type=smp
The Table Of Content For The Artificial Intelligence (AI) In Clinical Trials Market Include:
1. Executive Summary
2. Artificial Intelligence (AI) In Clinical Trials Market Characteristic
3. Artificial Intelligence (AI) In Clinical Trials Market Trends And Strategies
4. Artificial Intelligence (AI) In Clinical Trials Market - Macro Economic Scenario
5. Artificial Intelligence (AI) In Clinical Trials Market Size And Growth
……………
27. Artificial Intelligence (AI) In Clinical Trials Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Artificial Intelligence (AI) In Clinical Trials Market
29. Artificial Intelligence (AI) In Clinical Trials Market Future Outlook And Potential Analysis
30. Appendix
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