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Steady Expansion Forecast for AI In Clinical Trials Market, Projected to Reach $38.21 Billion by 2029
AI In Clinical Trials
AI In Clinical Trials Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent years, the size of the AI in clinical trials market has experienced a rapid expansion. Expectations are for the market to increase from $6.57 billion in 2024 to $9.16 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 39.5%. Factors contributing to the surge during the historic period include healthcare data accumulation, advancements in computing power, endorsement from the FDA for AI, the popularity of wearable devices, and the development of early-stage AI algorithms.
AI In Clinical Trials Market Size Forecast: What's the Projected Valuation by 2029?
The market size for AI in clinical trials is projected to witness immense growth in the coming years. The anticipated market value is $38.21 billion by 2029, with a compound annual growth rate (CAGR) of 42.9%. This growth can be linked to several factors such as the integration of real-world data, AI-enhanced patient enlistment, AI-propelled biomarker identification, and AI-aided trial design optimization, among others. The forecast period is set to experience multiple trends including collaborative learning approaches in AI, AI's application in adaptive trials, AI-assisted outcome forecasting, AI facilitated drug development and AI-enabled drug repurposing.
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What Are the Drivers Transforming the AI In Clinical Trials Market?
The surge in chronic and infectious disease instances is anticipated to invigorate the expansion of the AI in clinical trials market. Chronic diseases, which are illnesses persisting for three months or more and deteriorate over time, are often treated with drugs developed through AI in clinical trials. For instance, the Macmillan Cancer Support, a UK-based cancer charity, reported in June 2022 that the population of individuals living with cancer had reached 3 million in 2022, and is forecasted to approach nearly 3.5 million by 2025 and 4 million by 2030 in the UK. Moreover, the UK Health Security Agency, an established UK executive agency, revealed in August 2024 that there had been 368 cases of measles in 2023 in England, indicating an almost sevenfold surge from the 53 instances documented in 2022. The two regions contributing most to these cases were the West Midlands and London, representing 44% and 33% respectively. Thus, the inflating rates of chronic and infectious diseases are fuelling the advancement of the AI in clinical trials market.
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What Long-Term Trends Will Define the Future of the AI In Clinical Trials Market?
The AI in clinical trials market is witnessing an accelerating trend of technological innovations. To stay competitive in the market, companies are increasingly leveraging advanced technologies. As an example, Lantern Pharma, an American clinical-stage oncology firm, unveiled its revolutionary RADR AI and ML platform in February 2023. This platform aims to transform the cost, speed, and duration of oncology drug discovery and development. The future developments of RADR will focus on integrating sophisticated AI and ML techniques to develop antibody-drug conjugates (ADCs). These are highly specific antibodies used in cancer treatment that are linked to potent anti-tumor small molecules.
Which Segments in the AI In Clinical Trials Market Offer the Most Profit Potential?
The ai in clinical trialsmarket 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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Which Firms Dominate the AI In Clinical Trials Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the AI In Clinical Trials Market?
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.
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