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AI In Clinical Trials Market Demand, Growth Prediction, Segments And Outlook By 2033
AI In Clinical Trials Market Analysis
The Business Research Company offers in-depth market insights through AI In Clinical Trials Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ai in clinical trials market size has grown exponentially in recent years. It will grow from $4.74 billion in 2023 to $6.69 billion in 2024 at a compound annual growth rate (CAGR) of 41.1%. The growth in the historic period can be attributed to data accumulation in healthcare, computing power advancements, fda support for ai, rise of wearable devices, early ai algorithms development.
The ai in clinical trials market size is expected to see exponential growth in the next few years. It will grow to $26.77 billion in 2028 at a compound annual growth rate (CAGR) of 41.5%. The growth in the forecast period can be attributed to real-world data integration, ai-powered patient recruitment, ai-driven biomarker identification, ai-driven trial design optimization, continuous monitoring technology. Major trends in the forecast period include federated learning approaches, ai in adaptive trials, ai-supported outcome prediction, ai-driven drug development, ai-powered drug repurposing.
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Market Segmentation:
The ai in clinical trials market covered in this report is segmented -
1) By Offering: Software, Services
2) By Process: Trial Design, Patient Selection, Site Selection, Patient Monitoring
3) By Technology: Machine Learning, Deep Learning, Supervised Learning, Other Technologies
4) By Application: Oncology, Neurological Diseases And Condition, Cardiovascular Diseases, Metabolic Diseases, Infectious Diseases, Immunology diseases, Other Applications
5) By End-User: Pharmaceuticals And Biotechnology Companies, Contract Research Organizations, Other End-Users
Major Driver - AI In Clinical Trials Market Surges With The Escalating Incidence Of Chronic And Infectious Diseases
Rising incidences of chronic and infectious diseases are expected to propel the growth of the AI in clinical trials market going forward. Chronic disease refers to a form of illness that lasts for three months or more and can deteriorate with time. Artificial intelligence in clinical trials is helpful to develop various drugs for treating chronic diseases. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the rising incidences of chronic and infectious diseases are driving the growth of the AI in the clinical trials market.
Competitive Landscape:
Major companies operating in the ai in clinical trials market report are Intel, The International Business Machines Corporation (IBM), Koninklijke Philips N.V., ConcertAI, Saama Technologies LLC, Samaa Technologies, Owkin Inc., Numerate, Neuroute, AiCure, Ardigen, Unlearn AI, PathAI, Exscentia, Aitia Infotech Pvt Ltd., Euretos, VeriSIM Life, Envisagenics, NURITAs, BioSymetrics, BioAge Labs Inc, Trials.Ai, Pharmaseal, Caylx, IQVIA
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Top Trend - Lantern Pharma Unveils Radr AI And ML Platform, Elevating Ai In Clinical Trials For Accelerated Medication Discovery
Technological advancements are a key trend gaining popularity in the AI in clinical trials market. Companies operating in the AI in clinical trials market are adopting new technologies to sustain their position in the market. For instance, in February 2023, Lantern Pharma, a US-based clinical-stage oncology company introduced its unique RADR artificial intelligence ('AI') and machine learning ('ML') platform to revolutionize the expense, speed, and timeframe of oncology medication discovery and development. These RADR developments would concentrate on additional cutting-edge AI and ML methods to create antibody-drug conjugates (ADCs), which are highly targeted antibodies for the treatment of cancer that are connected to effective anti-tumor small molecules.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. AI In Clinical Trials Market Characteristics
3. AI In Clinical Trials Market Trends And Strategies
4. AI In Clinical Trials Market - Macro Economic Scenario
5. AI In Clinical Trials Market Size And Growth
…..
27. AI In Clinical Trials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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