Global Artificial Intelligence in Clinical Trials Market Poised for Robust Growth

The global AI in clinical trials market, valued at US$1.20B in 2023, is forecasted to grow at a 12.4% CAGR, reaching US$1.35B by 2024 and US$2.74B by 2030.
The global artificial intelligence (AI) in clinical trials market [https://www.marketsandmarkets.com/Market-Reports/ai-in-clinical-trials-market-42687548.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=aiinclinicaltrialsmarket], valued at US$1.20 billion in 2023, is projected to expand at a strong CAGR of 12.4%, reaching US$1.35 billion in 2024 and an impressive US$2.74 billion by 2030. Key drivers fueling this growth include the high rate of clinical trial failures, the increasing demand for predictive modeling in drug pharmacokinetics and pharmacodynamics, and the need for improved toxicity management.

A study published by the National Library of Medicine in February 2022 highlights that drug discovery and development can take 10-15 years, with approximately 90% of drug candidates failing during Phase I, II, and III trials. These failures often stem from factors such as insufficient clinical efficacy, unmanageable toxicity, suboptimal pharmacokinetics, lack of commercial viability, and poor strategic trial design. AI in clinical trials is emerging as a transformative solution to enhance drug approval success rates and streamline trial processes.

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The Role of AI in Cost Reduction and Trial Optimization

AI-driven solutions play a crucial role in reducing the high costs associated with clinical trials. By predicting outcomes and optimizing trial designs, AI enables companies to assess potential risks, minimize expenses, and increase trial success rates. For instance, companies like Unlearn.AI utilize digital twin technology to create virtual patient models, allowing for simulated clinical trials that forecast drug efficacy before conducting full-scale human trials.

Moreover, regulatory bodies such as the U.S. Food and Drug Administration (FDA) are increasingly endorsing AI-driven approaches to improve trial accuracy and patient safety. AI-powered tools can analyze real-world evidence (RWE) from electronic health records and other sources, thereby enhancing the validity of clinical trial data and expediting regulatory submissions.

Market Segmentation InsightsBy Indication: Oncology Leads the Market

The oncology segment is expected to dominate the AI in clinical trials market, driven by the complex nature of cancer treatment and the increasing global burden of the disease. AI plays a critical role in oncology trials by improving patient recruitment, trial design, and real-time monitoring, ensuring greater efficiency. Additionally, advancements in biomarker-driven precision medicine are attracting significant investments from corporations seeking improved patient outcomes and commercial opportunities.

By Application: Cell & Gene Therapy Takes Center Stage

AI is also gaining traction in cell and gene therapy trials, particularly for complex therapies such as CAR-T cell therapy. AI-driven predictive models and advanced data analytics facilitate critical processes, including patient selection, trial setup, and real-time monitoring. By streamlining these intricate procedures, AI enhances the effectiveness and scalability of cell and gene therapy research.

Key Industry Players and Strategic Developments

Major companies driving innovation in the AI in clinical trials market include:

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IQVIA Inc. (US): A market leader in life sciences research and eClinical solutions, IQVIA has expanded its global reach through strategic acquisitions and collaborations. The company focuses on decentralizing trial operations to improve data quality and patient experiences.

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Dassault Systemes (Medidata) (France): Medidata provides comprehensive clinical data management solutions. With the launch of its MyMedidata mobile application in 2022, the company enhances patient engagement by integrating electronic diaries, patient-reported outcomes, and informed consent tools.

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Tempus AI, Inc. (US): Tempus leverages AI to advance clinical trials, offering genomic profiling, data licensing, and companion diagnostics to facilitate precision medicine.

Other key players include Saama (US), Phesi (US), PathAI, Inc. (US), Unlearn.ai, Inc. (US), Deep6.ai (US), Microsoft (US), IBM (US), NVIDIA Corporation (US), Insilico Medicine (US), ConcertAI (US), AiCure (US), Median Technologies (France), Lantern Pharma Inc. (US), Citeline, a Norstella Company (US), TriNetX, LLC (US), ReviveMed Inc. (US), Euretos (Netherlands), VeriSIM Life (US), Triomics (US), Ardigen (Poland), QuantHealth Ltd. (Israel), and DEEP GENOMICS (Canada).

These market leaders are actively engaging in acquisitions, collaborations, product launches, and technological innovations to strengthen their positions in AI-driven biosimulation and modeling solutions.

Conclusion

AI is revolutionizing clinical trials by increasing efficiency, reducing costs, and enhancing the likelihood of drug approval. As regulatory support continues to grow and AI-driven innovations evolve, the market for AI in clinical trials is poised for significant expansion in the coming years.

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