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Evolving Market Trends In The AI in Clinical Trials Industry: Lantern Pharma Unveils Radr AI And ML Platform, Elevating AI in Clinical Trials For Accelerated Medication Discovery
AI in Clinical Trials
What Is the Expected AI in Clinical Trials Market Size During the Forecast Period?
The AI in Clinical Trials Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected AI in Clinical Trials Market Size During the Forecast Period?
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What Are the High-Growth Segments in the AI in Clinical Trials Market?
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
Subsegments:
1) By Software: Clinical Trial Management Systems (CTMS), Data Analytics Software, Predictive Analytics Tools, Patient Recruitment And Retention Software, Real-World Evidence Platforms
2) By Services: Consulting Services, Data Management And Analysis Services, Training And Support Services, Regulatory Compliance Services
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What Key Drivers Are Expected to Influence Future AI in Clinical Trials Market Growth?
The AI in clinical trials market is set to experience significant growth due to the escalating instances of chronic and infectious illnesses. Chronic diseases are long-term health conditions typically lasting more than three months that tend to worsen over time. AI proves immensely advantageous in clinical trials when developing varied medications to counter these chronic diseases. To illustrate, in June 2022, Macmillan Cancer Support, a renowned UK-based cancer charity, revealed that the number of cancer patients in 2022 reached 3 million and is projected to surge to approximately 3.5 million by 2025 and further to 4 million by 2030 in the UK. Additionally, the UK Health Security Agency (UKHSA), a key UK-based executive agency, shared data in August 2024 showing a stark increase in measles cases, from 53 in 2022 to 368 in 2023 in England, with West Midlands and London accounting for 44% and 33% of the overall cases. These ongoing rises in both chronic and infectious diseases serve as a significant driver for the continuing expansion of the AI in the clinical trials market.
Which Companies Hold the Largest Share Across Different AI in Clinical Trials Market Segments?
Major companies operating in the AI in clinical trials market include Intel, The International Business Machines Corporation (IBM), Koninklijke Philips N.V., ConcertAI, 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
What Trends Are Driving Growth in The AI in Clinical Trials Market?
Leading the latest trends in the AI in clinical trials market are technological advancements. To maintain their place in the market, businesses in this sector are implementing innovative technologies. For example, in February 2023, Lantern Pharma, a US-based clinical-stage oncology firm, launched its one-of-a-kind RADR AI and ML platform. This innovation aims to transform the cost, pace, and timeline of discovering and developing oncology treatments. The focus of these RADR advancements will be to employ state-of-the-art AI and ML techniques to formulate antibody-drug conjugates (ADCs). These are highly targeted antibodies used in cancer treatment and are affixed to potent anti-tumor small molecules.
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What Are the Emerging Geographies for The AI in Clinical Trials Market Growth?
North America was the largest region in the AI in clinical trials market in 2024. The regions covered in the AI in clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI in Clinical Trials Market?
2. What is the CAGR expected in the AI in Clinical Trials Market?
3. What Are the Key Innovations Transforming the AI in Clinical Trials Industry?
4. Which Region Is Leading the AI in Clinical Trials Market?
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