How Has the AI Based Clinical Trial Solution Providers Market Evolved Historically and What is its Current Size?
The ai based clinical trial solution providers market has seen considerable growth due to a variety of factors.
• In recent times, the market for AI-based clinical trial solution providers has seen significant expansion. Its size is predicted to increase from $2.47 billion in 2024 to $3.04 billion in 2025, marking a compound annual growth rate (CAGR) of 23.1%.
This surge over the historic period can be credited to factors such as escalating intricacies in clinical trials, a rise in clinical trial data volume, regulatory compliance troubles, demand for drug discovery and development, and the trending shift towards personalized medicine.
What Is The Projected Growth Of The AI Based Clinical Trial Solution Providers Market?
The ai based clinical trial solution providers market is expected to maintain its strong growth trajectory in upcoming years.
• The market for AI-based clinical trial solution providers is poised for substantial growth in the coming years, anticipated to reach $6.96 billion by 2029, reflecting a compound annual growth rate (CAGR) of 23.0%.
This notable growth expected within the prediction period can be ascribed to factors such as the incorporation with real-world evidence (REW), breakthroughs in natural language processing (NPL), the uptake of decentralized clinical trials, the expansion into new therapeutic areas, and the improvement of predictive analytics. Upcoming trends within the forecast span embrace partnerships with biotech and pharma businesses, patient-focused methods, the use of predictive analytics in trial designing, the amalgamation of real-world evidence, and the application of blockchain for maintaining data security.
What Are The Core Factors Supporting Growth In The AI Based Clinical Trial Solution Providers Market?
The expected expansion of the market for AI-based clinical trial solution providers is driven by the escalating use of AI technology. The term artificial intelligence (AI) refers to the creation of computer systems or applications capable of executing tasks that usually require human intellect. Clinical trial solution providers are progressively utilizing AI technology to infuse efficiency, precision, and novelty into different phases of the clinical trial process, ultimately leading to enhanced patient results and progress in medical research. For instance, The International Business Machines Corporation (IBM), a US-based tech firm, reported in May 2022 that the global AI adoption rate had surged by 35%, a four-point rise from the preceding year. Moreover, in 2022, it's projected that 13% more enterprises will have adopted AI than in 2021, and approximately 35% of organizations have reported implementing AI within their company. Similarly, 42% are contemplating AI adoption, and two-thirds (66%) of companies are currently implementing or planning to use AI to achieve their sustainability objectives. Consequently, the escalating adoption of AI technology is spurring the growth of the market for AI-based clinical trial solution providers.
What Are The Principal Market Segments In The Global AI Based Clinical Trial Solution Providers Industry?
The AI-based clinical trial solution providers market covered in this report is segmented –
1) By Clinical Trial Phase: Phase-I, Phase-Ii, Phase-Iii
2) By Therapeutic Application: Oncology, Cardiovascular Diseases, Neurological Diseases Or Conditions Metabolic Diseases, Infectious Diseases, Other Therapeutic Applications
3) By End-User: Pharmaceutical Companies, Academia, Other End-Users
Subsegments:
1) By Phase-I: Safety And Dosage Studies, Early Pharmacokinetics Studies
2) By Phase-Ii: Efficacy Studies, Dose-Response Studies
3) By Phase-Iii: Confirmatory Studies, Comparative Effectiveness Research
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Which Emerging Market Trends Are Altering The AI Based Clinical Trial Solution Providers Industry?
Leading corporations in the AI-oriented clinical trial solutions industry are introducing ground-breaking technological advances in the market, exemplified by the Saama AI-guided data platform, in order to expedite clinical growth and reinforce their market footprint. An AI-guided data platform uses artificial intelligence (AI) and machine learning (ML) to automate and enhance a range of data management and analysis procedures. In June 2023, for instance, Saama Technologies, Inc., an American software firm, launched an AI-guided data platform named Saama. This kind of platform streamlines clinical trial workflows by consolidating and normalizing data, providing real-time insights into trial operations, financial matters, and patient data. The platform employs AI and sophisticated analytics to automate tasks, boost productivity, and offer comprehensive insights into patient behaviors. Saama provides AI-oriented clinical trial solutions providers with increased efficiency, precision, and effectiveness through SaaS solutions such as data hubs, operational insights, patient insights, S2S, and SDQ. Moreover, it aims to abolish manual, resource-heavy activities and render clinical trials more streamlined and productive.
Who Are the Key Players In The AI Based Clinical Trial Solution Providers Market?
Major companies operating in the AI-based clinical trial solution providers market report are:
• International Business Machines Corporation
• AstraZeneca
• Takeda Pharmaceutical Company Limited
• IQVIA Holdings Inc.
• BenevolentAI SA
• Charles River Laboratories
• Flatiron Health
• Saama Technologies Inc.
• CytoReason
• Median Technologies SAS
• Concentro Health AI.
• AiCure
• LLC
• DEEP LENS AI Inc.
• GNS HealthcareInc.
• Ardigen
• Koneksa Health Inc.
• Unlearn.AI Inc.
• PathAI Inc.
• Deep 6 AI Inc.
• Intelligencia Inc.
• Exscientia
• Prometheus BiosciencesInc.
• Renalytix AI PLC
• BioAge Labs Inc.
• Mendel Health Inc
What Are The Regional Insights Into The AI Based Clinical Trial Solution Providers Market?
North America was the largest region in the AI-based clinical trial solution providers market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ai-based clinical trial solution providers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
