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Artificial Intelligence (AI)-Driven Rare Disease Patient Finder Market Trends That Will Shape the Next Decade: Insights from Technological Advancements Are Driving Faster And More Efficient Patient Identification For Rare Disease Clinical Trials
Artificial Intelligence AI Driven Rare Disease Patient Finder Market
How Large Will the Artificial Intelligence (AI)-Driven Rare Disease Patient Finder Market Size By 2025?
The market size for the artificial intelligence (AI) powered rare disease patient finder has seen substantial expansion in the recent past. The market, which is worth $1.25 billion in 2024, is set to enlarge to $1.62 billion in 2025, implying a compound annual growth rate (CAGR) of 30.1%. Numerous factors have contributed to the growth in the historical period, such as the increased utilization of genomic sequencing, a surge in the uptake of electronic health records, burgeoning partnerships between pharmaceutical firms and AI startups, an intensified focus on early diagnosis of diseases, and a growing pool of real-world evidence.
How Big Is the Artificial Intelligence (AI)-Driven Rare Disease Patient Finder Market Size Expected to Grow by 2029?
The market size for the AI-guided patient detector for rare diseases is anticipated to witness remarkable expansion in the forthcoming years. The projected escalation is to $4.60 billion by 2029 with a CAGR of 29.7%. The predicted growth within this period could be ascribed to the increasing merger of multimodal data analysis, escalating use of AI-backed clinical decision support systems, growing utilization of wearables and remote monitoring gadgets, rising investments in patient-oriented healthcare schemes, and increasing emphasis on predictive analysis for the identification of rare diseases. Forward-looking trends in the prediction period encompass progress in unstructured medical data's natural language processing, federation learning's integration for secure patient information sharing, tech-induced multiomics data interpretation, enhancements in the creation of synthetic data for rare ailment modelling, and progress in the AI-powered digital biomarkers.
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Which Key Market Drivers Powering Artificial Intelligence (AI)-Driven Rare Disease Patient Finder Market Expansion and Growth?
The rise in popularity of digital health and telemedicine is predicted to accelerate the expansion of the artificial intelligence (AI)-powered patient finder market for rare diseases. Digital health involves the application of technology, software, and electronic devices to keep track of, manage, and enhance health and wellbeing. Telemedicine employs telecommunications technologies like video conferencing, mobile applications, and online platforms to provide healthcare services from afar. This growing embrace of digital health and telemedicine results from patients and healthcare providers demanding healthcare solutions that are easy to use, efficient, and readily accessible. AI-powered patient finders for rare diseases complement digital health and telemedicine, making it possible to accurately identify patients, monitor them remotely, consult with them virtually in a timely manner, and facilitate personalized treatment. As an example, a survey conducted by Rock Health, a US-based health tech company, in February 2023, found that out of 8,014 participants, 76% of individuals aged 55 and over have utilized telemedicine, and 80% of all participants said they have received care through telemedicine at some point in their lives. This is an increase of 8% from 72% in 2021. Hence, this growing embrace of digital health and telemedicine is fueling the expansion of the AI-powered patient finder market for rare diseases.
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Which Fast-Growing Trends Are Poised to Disrupt the Artificial Intelligence (AI)-Driven Rare Disease Patient Finder Market?
Leading firms in the AI-driven rare disease patient finder sector are prioritizing the development of technological improvements, such as precision patient recruitment solutions, to increase the accuracy, speed, and efficacy of discovering potential patients for rare disease clinical trials. This will also help to shorten recruitment timelines and boost the success rate of trials. Precision patient recruitment solutions are tech-driven methods that use advanced algorithms and real-world data to accurately identify and engage with patients who qualify for specific clinical trial criteria. For example, in April 2024, Citeline, an American firm specializing in business intelligence and data analytics, introduced Citeline PatientMatch. This tool uses advanced algorithms and a wealth of real-world data, like lab results, biomarkers, and electronic medical records from more than 400 hospitals and health systems. This enables sponsors and investigators to quickly and efficiently identify suitable patients for clinical trials, streamline the enrollment process, and handle diverse and complex study protocols across multiple therapy areas.
What Are the Emerging Segments in the Artificial Intelligence (AI)-Driven Rare Disease Patient Finder Market?
The artificial intelligence (AI)-driven rare disease patient finder market covered in this report is segmented as
1) By Component: Software, Services
2) By Deployment Mode: Cloud-Based, On-Premises
3) By Application: Hospitals, Clinics, Research Institutes, Pharmaceutical Companies, Other Applications
4) By End-User: Healthcare Providers, Life Sciences Companies, Payers, Other End-Users
Subsegments:
1) By Software: Electronic Data Capture, Data Management Platform, Analytics And Reporting Tools, Patient Engagement Tools, Clinical Trial Management System
2) By Services: Implementation And Integration, Training And Support, Data Hosting And Security, Consulting Services, Maintenance And Upgrades
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Who Are the Global Leaders in the Artificial Intelligence (AI)-Driven Rare Disease Patient Finder Market?
Major companies operating in the artificial intelligence (AI)-driven rare disease patient finder market are UnitedHealth Group Incorporated, Dassault Systèmes SE, GeneDx Holdings Corp., HealthVerity Inc., ConcertAI Inc., Komodo Health Inc., Unlearn.AI Inc., Antidote Technologies Inc., Healx Ltd., FDNA Inc., Saventic Health Sp. z o.o., Digital Pharma Lab SAS, AnnieGuard Ltd., Rapid Innovation Labs Inc., Sqilline EOOD, TrialX Inc., enGenome Srl, EveryCure Inc., ThinkGenetic Inc., and RareSum Inc.
Which are the Top Profitable Regional Markets for the Artificial Intelligence (AI)-Driven Rare Disease Patient Finder Industry?
North America was the largest region in the artificial intelligence (AI)-driven rare disease patient finder market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in artificial intelligence (AI)-driven rare disease patient finder report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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