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AI-Based Clinical Trial Solution Providers Market 2024 Industry Insights, Business Growth, Trends And Forecast To 2033

03-19-2024 01:32 PM CET | Health & Medicine

Press release from: The Business research company

AI-Based Clinical Trial Solution Providers Market

AI-Based Clinical Trial Solution Providers Market

"The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the AI-Based Clinical Trial Solution Providers Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The ai-based clinical trial solution providers market size has grown exponentially in recent years. It will grow from $2 billion in 2023 to $2.47 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The growth in the historic period can be attributed to increased complexity in clinical trials, growing volume of clinical trial data, regulatory compliance challenges, drug discovery and development demands, personalized medicine trends.

The ai-based clinical trial solution providers market size is expected to see exponential growth in the next few years. It will grow to $5.65 billion in 2028 at a compound annual growth rate (CAGR) of 23.0%. The growth in the forecast period can be attributed to integration with real-world evidence (rwe), advancements in natural language processing (nlp), decentralized clinical trials adoption, expansion of therapeutic areas, enhanced predictive analytics. Major trends in the forecast period include collaboration with biotech and pharma companies, patient-centric approaches, predictive analytics for trial design, real-world evidence integration, blockchain for data security.

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Key Market Players:
Major companies operating in the ai-based clinical trial solution providers market report are International Business Machines Corporation, AstraZeneca, Takeda Pharmaceutical Company Limited, IQVIA Holdings Inc., BenevolentAI, Charles River Laboratories, Flatiron Health, Saama Technologies Inc., CytoReason, Median Technologies SAS, Concentro Health AI. , AiCure, LLC, DEEP LENS AI Inc., GNS Healthcare, Inc., Ardigen, Koneksa Health Inc., Unlearn.AI Inc., PathAI Inc., Deep 6 AI Inc., Intelligencia Inc., Exscientia, Prometheus Biosciences, Inc., Renalytix AI plc, BioAge Labs Inc., Mendel Health Inc

Market Drivers:
The increasing adoption of AI technology is expected to propel the growth of the AI-based clinical trial solution provider market going forward. Artificial intelligence (AI) refers to the development of computer systems or software that can perform tasks that typically require human intelligence. AI technology is being increasingly used by clinical trial solution providers to bring efficiency, accuracy, and innovation to various stages of the clinical trial lifecycle, ultimately contributing to improved patient outcomes and advancements in medical research. For instance, in May 2022, according to The International Business Machines Corporation (IBM), a US-based technology corporation, the adoption rate of AI globally increased significantly by 35%, up four points from the previous year. Further, in 2022, 13% more firms are projected to have used AI than in 2021, and around 35% of organizations reported adopting AI in their company, 42% are considering AI for adoption, and two-thirds of the companies (66%) are either presently executing or intending to utilize AI to meet their sustainability goals. Therefore, the increasing adoption of AI technology is driving the growth of the AI-based clinical trial solution provider market.

Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/ai-based-clinical-trial-solution-providers-global-market-report

The ai-based clinical trial solution providers market covered in this report is segmented -
1) By Clinical Trial Phase: Phase-I, Phase-II, Phase-III
2) By Therapeutic Application: Oncology, Cardiovascular Diseases, Neurological Diseases or Conditions, Metabolic Diseases, Infectious Diseases, Other Therapeutic Applications
3) By End-user : Pharmaceutical Companies, Academia, Other End-users

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