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What Is Driving Global Artificial Intelligence (AI)-Powered Clinical Trial Site Feasibility Market Growth in 2025: The Role of The Growing Clinical Trials Are Fueling The Growth Of The Market Due To The Rising Demand For Optimized Trial Locations And Enro
Artificial Intelligence AI Powered Clinical Trial Site Feasibility
Artificial Intelligence (AI)-Powered Clinical Trial Site Feasibility Market Size Growth Forecast: What to Expect by 2025?
The market size for clinical trial site feasibility powered by artificial intelligence (AI) has seen considerable expansion in recent years. The market is predicted to grow from $1.24 billion in 2024 to $1.53 billion in 2025, with a compound annual growth rate (CAGR) of 23.8%. The historical growth can be credited to growing use of AI in clinical studies, a surge in demand for rapid patient enrollment, an increase in decentralized clinical trials, enhancements in electronic data collection systems, and regulatory backing for creative trial structures.
How Will the Artificial Intelligence (AI)-Powered Clinical Trial Site Feasibility Market Size Evolve and Grow by 2029?
The market size for AI-driven clinical trial site feasibility is projected to witness a substantial increase in the near future, escalating to $3.55 billion in 2029 at a CAGR of 23.4%. The anticipated growth in this period is linked to the integration of AI analytics and real-world data, advancements of virtual clinical trial platforms, increased investment in precision medicine, the use of predictive models in site selection, and AI's role in developing adaptive trial designs. Key trends to watch during the projected period include the use of predictive analysis for site selection, enhancing feasibility with the incorporation of real-world data, the application of machine learning protocols to predict patient recruitment, the adoption of cloud-based AI platforms to improve trial planning collaboration, and employing natural language processing for an in-depth analysis of site performance data.
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What Drivers Are Propelling the Growth of Artificial Intelligence (AI)-Powered Clinical Trial Site Feasibility Market Forward?
The anticipated growth of the artificial intelligence (AI)-empowered clinical trial site feasibility market is primarily fueled by the expansion of clinical trials. Clinical trials, referring to worldwide clinical research studies that validate the safety and effectiveness of fresh medical treatments, medications, and instruments, are escalating. This surge in clinical trials is chiefly attributed to the increasing financial contribution to biomedical research and development from both the private and public sectors, recognizing the vital necessity for groundbreaking remedies to tackle mounting healthcare predicaments. An increase in clinical trials consequently generates the need for AI-enabled site feasibility tools, as research bodies require proficient systems to pinpoint supreme locations, evaluate site capabilities, and foresee successful enrollment rates for their respective researches. As a case in point, in November 2023, the Association of the British Pharmaceutical Industry, a British trade organization, disclosed that the total count of industry-backrolled clinical trials initiated in the UK every year experienced a minor increase of 4.3%, incrementing from 394 trials in 2021 to 411 trials in 2022. Hence, the escalating clinical trials are instrumental in propelling the growth of the AI-empowered clinical trial site feasibility market.
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Which Emerging Trends Are Transforming the Artificial Intelligence (AI)-Powered Clinical Trial Site Feasibility Market in 2025?
Firms currently functioning in the artificial intelligence-based clinical trial site feasibility market are prioritizing the creation of innovative solutions like an AI-enabled feasibility and recruitment platform. This platform is designed to fine-tune site selection and upgrade operational efficiency across clinical trials. Such a platform is a software solution that utilizes AI and machine learning to evaluate trial protocols and site data, thus identifying ideal clinical sites and improving patient recruitment by efficiently aligning eligible participants to speed up trial timelines and enhance study success. For example, in June 2023, US-based integrated research and technology platform firm, ObjectiveHealth, rolled out ObjectiveScreen. This is an AI-based feasibility and recruitment platform purposed to enhance clinical trial performance via improved patient identification, prequalification, and retention, through real-time integration with electronic health records (EHRs) and application of AI and machine learning algorithms. The platform provides trial sites with direct access to patient data, enables health risk stratification, and helps identify the most suitable candidates to hasten enrollment and boost trial results.
What Are the Key Segments in the Artificial Intelligence (AI)-Powered Clinical Trial Site Feasibility Market?
The artificial intelligence (AI)-powered clinical trial site feasibility market covered in this report is segmented as
1) By Component: Software, Services
2) By Deployment Mode: Cloud-Based, On-Premises
3) By Application: Site Selection, Patient Recruitment, Protocol Design, Performance Analytics, Other Applications
4) By End-User: Pharmaceutical Companies, Contract Research Organizations, Academic Research Institutes, Hospitals, Other End-Users
Subsegments:
1) By Software: Predictive Analytics Software, Machine Learning (ML) Platforms, Natural Language Processing (NLP) Tools, Data Visualization Software, Clinical Trial Management System (CTMS) Integration Software, Real-World Data (RWD) Analytics Software, Risk-Based Monitoring (RBM) Software
2) By Services: Feasibility Assessment Services, Site Selection Services, Patient Recruitment Support Services, Data Management And Analytics Services, Protocol Optimization Services, Regulatory Compliance Support Services, Consulting And Advisory Services
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Who Are the Key Players Shaping the Artificial Intelligence (AI)-Powered Clinical Trial Site Feasibility Market's Competitive Landscape?
Major companies operating in the artificial intelligence (ai)-powered clinical trial site feasibility market are Oracle Corporation, Thermo Fisher Scientific Inc., NVIDIA Corporation, IQVIA Holdings Inc., Labcorp Holdings Inc., Dassault Systèmes SE, Parexel International Corporation, ZS Associates Inc., Veeva Systems Inc., Verily Life Sciences LLC, Signant Health Holding Corp., Saama Technologies LLC, Elligo Health Research Inc., ConcertAI Inc., Medable Inc., Science 37 Inc., Castor EDC Inc., Unlearn.AI Inc., Antidote Technologies Inc., Deep 6 AI.
What Geographic Markets Are Powering Growth in the Artificial Intelligence (AI)-Powered Clinical Trial Site Feasibility Market?
North America was the largest region in the artificial intelligence (AI)-powered clinical trial site feasibility market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in artificial intelligence (AI)-powered clinical trial site feasibility report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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