Global Artificial Intelligence (AI) In Clinical Trials Market to Reach $38.03 Billion by 2029, Growing at 39% CAGR

What market dynamics are playing a key role in accelerating the growth of the artificial intelligence (ai) in clinical trials market?
The escalating requirement to minimize the costs associated with clinical trials is anticipated to boost the expansion of artificial intelligence in the clinical trial market. Clinical trials, which are research studies designed to assess medical, surgical or behavioral interventions in humans, include the expenses of both the research itself and patient care. As drug development and other clinical trial operations are inherently expensive, artificial intelligence is employed to enhance drug discovery, secure and well-structured clinical trials, and superior patient results at reduced costs. For example, reports from Genetic Engineering and Biotechnology News in February 2023, an American platform presenting the latest updates in genetic engineering and biotechnology, revealed that the cost of creating a new drug among the leading 20 global biopharma companies escalated by 15% from $298 million in 2022 to roughly $2.3 billion in 2023. This increase accounts for the expenses spent on drug development via clinical trials. Moreover, according to a January 2023 report by the National Bureau of Economic Research (NBER), a non-profit economic research organization based in the US, the implementation of AI within the forthcoming five years will likely yield significant cost savings in healthcare. These savings are projected to be between 5 and 10% of total healthcare spending, equating to yearly savings of around $200 billion to $360 billion. Hence, the escalating requirement to minimize clinical trial costs will motivate the utilization of artificial intelligence in the clinical trial market.

Get Your Artificial Intelligence (AI) In Clinical Trials Market Report Here:
https://www.thebusinessresearchcompany.com/report/artificial-intelligence-ai-in-clinical-trials-global-market-report

How will the growth rate of the artificial intelligence (ai) in clinical trials market shape industry trends by 2034?
The market for artificial intelligence (AI) in clinical trials has seen a dramatic increase in size over recent years. The market, valued at $7.19 billion in 2024, is projected to expand to $10.14 billion in 2025, with a compound annual growth rate (CAGR) of 41.1%. The historic period's growth can be linked to factors such as the complexity of data growth, escalating costs and time limitations, regulatory requirements, early AI applications, and the adoption of patient-focused strategies.

The market size of artificial intelligence (AI) in clinical trials is anticipated to witness exceptional growth in the coming years. The market is projected to increase to $38.03 billion by the year 2029, with a compound annual growth rate (CAGR) of 39.2%. This surge during the forecast period is associated with factors like the focus on personalized medicine, solutions for real-time monitoring, execution of remote trials, risk prediction and mitigation, and the incorporation of expanded data sources. Key trends expected during this forecast period encompass adaptive trial design, the application of natural language processing (NLP) in data analytics, recruiting patients through AI, integration of blockchain for data protection, and use of predictive analytics for assessing patient results.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12603&type=smp

What trends are poised to drive the future success of the artificial intelligence (ai) in clinical trials market?
One prevailing trend in the artificial intelligence for clinical trials market is the development and introduction of novel product solutions. Leading companies in this market have made strides in launching unique product offerings to ensure their continued dominance in the market. For instance, in January 2023, Elligo Health Research Inc., a research organization that paves the way for healthcare improvements based in the US, rolled out DataAI Connect, a pioneering data and technology platform that accelerates data-centric clinical research. The platform seamlessly collects, organizes, evaluates, and circulates real-world patient data, proposing a holistic approach to bypass clinical trial issues instead of merely serving as a supplemental technology. This flexible and long-lasting platform comprises a comprehensive solution for procuring and analyzing medical records. It expertly converts data into actionable insights and individual patient progress reports, using advanced technologies like NLP, ML, and clinical acumen.

Which primary segments of the artificial intelligence (ai) in clinical trials market are driving growth and industry transformations?
The artificial intelligence (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 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

Subsegments:
1) By Software: AI-driven Analytics Platforms, Data Management Tools, Patient Recruitment Solutions, Predictive Modeling Software
2) By Services: Consulting Services, Data Annotation And Labeling Services, Custom AI Model Development, Implementation And Integration Services

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12603

Which geographical regions are pioneering growth in the artificial intelligence (ai) in clinical trials market?
North America was the largest region in the artificial intelligence (AI) in clinical trials market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the influential players reshaping the artificial intelligence (ai) in clinical trials market landscape?
Major companies operating in the artificial intelligence (AI) in clinical trials market include Medable Inc., PathAI inc., Saama Technologies Inc., TriNetX LLC, SymphonyAI Summit Inc., Aktana, Nference Inc., Insilico Medicine Inc., Vineti Inc., Innoplexus AG, Healx, AiCure Inc., MEDIAN Technologies SA, Owkin Inc., Science 37, Ardigen SA, Cyft Inc., Unlearn.AI Inc., Mendel AI, Deep Lens Inc., Antidote Technologies Inc., Arterys Inc., Euretos BV, Halo Health Systems Inc., Trials.Ai Inc., Transparency Life Sciences, BioAge Labs Inc., Wave Life Sciences Ltd., BioSymetrics Inc.

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12603&type=smp

What Is Covered In The Artificial Intelligence (AI) In Clinical Trials Global Market Report?

• Market Size Forecast: Examine the artificial intelligence (ai) in clinical trials market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence (ai) in clinical trials market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence (ai) in clinical trials market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence (ai) in clinical trials market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence (ai) in clinical trials market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence (ai) in clinical trials market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence (ai) in clinical trials market.
• Competitive Landscape: Review strategic developments in the artificial intelligence (ai) in clinical trials market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.