Global Artificial Intelligence (AI) In Clinical Trials Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
29 Nov, 2023
The global artificial intelligence (AI) in clinical trials market is expected to grow from $1.19 billion in 2022 to $1.52 billion in 2023 at a compound annual growth rate (CAGR) of 28.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence (AI) in clinical trials market is expected to reach $3.89 billion in 2027 at a CAGR of 26.4%.
Global Artificial Intelligence (AI) In Clinical Trials Market Key Driver
The growing need to curb clinical trial costs is expected to drive the growth of artificial intelligence in the clinical trial market in the future. Clinical trials involve research studies to test medical, surgical, or behavioral interventions in people, and the associated costs include the expenses of the research and patient care. Drug development and other clinical trial processes are inherently costly, and artificial intelligence is utilized to enhance drug discovery, design safer clinical trials, and improve patient outcomes at lower costs.
Get a sample of the global artificial intelligence (AI) in clinical trials market reportGlobal Artificial Intelligence (AI) In Clinical Trials Market Segments
The global artificial intelligence (AI) in clinical trials market is segmented:
1) By Offering: Software, Services
2) By Process: Trial Design, Patient Selection, Site Selection, Patient Monitoring
3) By Application: Oncology, Neurological Disease And Condition, Cardiovascular Disease, Metabolic Disease, Infectious Disease, Immunology Disease, Other Applications
4) By End-User: Pharmaceutical And Biotechnology Company, Contract Research Organizations, Other End-Users
5) By Geography: The regions covered in the artificial intelligence (AI) in clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global artificial intelligence (AI) in clinical trials market.
Major Artificial Intelligence (AI) In Clinical Trials Industry Players
Artificial Intelligence (AI) In Clinical Trials Market Overview
Artificial intelligence in clinical trials refers to using artificial intelligence to design more efficient and adequate clinical trials. Artificial intelligence is used in clinical trials to improve trial design and optimization through predictions about patient behavior and drug efficacy.
Artificial Intelligence (AI) In Clinical Trials Global Market Report 2023 provides data on the global artificial intelligence (AI) in clinical trials market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The artificial intelligence (AI) in clinical trials market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.