Global AI-based Clinical Trials Solution Provider Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2028
AI-based Clinical Trials Solution Provider Market Growth & Trends The global AI-based clinical trials solution provider market size is expected to reach USD 5.2 billion by 2028 and is expected to expand at a CAGR of 21.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising adoption of AI-based platforms and technologies by pharmaceutical companies and academia, along with increasing adoption of artificial intelligence (AI) are among the factors driving the market growth. In addition, increasing public and private sector offerings for boosting the research and development in various therapeutic areas, coupled with diverse applications provided by AI in the field of clinical trials is further supporting the growth. Based on phase, the phase-II segment dominated the market with a share of 48.5% in 2020. This high share is attributable to a higher number of active interventional studies in the second phase. Furthermore, the second phase is crucial for analyzing the immediate outcome of the overall desired outcome from the completion of clinical trials. In addition, since improvements in the further phases of the trial and determination of measures with regards to AI-based tools can be effectively carried out in this phase, the segment comprises of higher revenue share. Download Exclusive Sample Report (118 Pages PDF with All Related Graphs & Charts) For Free @ https://www.grandviewresearch.com/industry-analysis/artificial-intelligencebased-clinical-trials-solution-provider-market
North America dominated the market and accounted for the largest revenue share of 43.6% in 2020 owing to various factors including a rising number of start-ups and AI in drug
development-based companies in the region, growing awareness and adoption of AI-based technologies, an increasing number of interventional studies. In addition, supportive government initiatives and growing strategic initiatives by major players are driving the demand for AI-based clinical trial solutions in the region. In addition, the COVID-19 pandemic has also led to a surge in the utilization of AI-based technologies. Increasing adoption of technologically advanced solutions for drug development and utilization of such solutions for analyzing the recruited patient’s data are some of the prominent factors contributing to the upsurge in adoption during the pandemic. Furthermore, the pandemic was also responsible for many clinical trials being put on hold and hence major companies shifted their focus on utilizing AI-based solutions, thereby boosting decentralized interventional studies. Moreover, a large amount of patient data analyzed and consolidated effectively through these solutions has further supported the market growth. For instance, according to a 2021 article published in Healthcare IT News, there is an increase in the adoption of AI-based clinical trial solutions for oncology during COVID-19. Therefore, such instances signify affirmative growth of the market, even during the pandemic. AI-based Clinical Trials Solution Provider Market Report Highlights
The market is anticipated to witness significant growth by 2028 owing to various applications provided by AI in the field of clinical trials and the growing adoption of such platforms by pharmaceutical companies The phase-II trials segment dominated the market in 2020, owing to the increasing number of interventional studies active in this phase
The oncology segment dominated the market in 2020, owing to the rising prevalence of cancer and a growing number of interventional studies in the oncology field
The pharmaceutical companies segment accounted for the highest revenue share in 2020 owing to the increasing adoption of artificial intelligence technologies for drug development by major pharmaceutical players
North America dominated the market and accounted for the largest revenue share of 43.6% in 2020, owing to various factors including an increasing number of clinical trials in the region, growing adoption of artificial intelligence platforms and tools, rising number of start-ups and companies based on artificial intelligence in drug development and growing awareness regarding AI-based tools and technologies
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AI-based Clinical Trials Solution Provider Market Segmentation Grand View Research has segmented the global AI-based clinical trials solution provider market based on clinical trial phase, therapeutic application, end user, and region: AI-based Clinical Trials Solution Provider Clinical Trial Phase Outlook (Revenue, USD Million, 2016 - 2028) Phase-I
Phase-II
Phase-III
AI-based Clinical Trials Solution Provider Therapeutic Application Outlook (Revenue, USD Million, 2016 - 2028) Oncology
Cardiovascular Diseases
Neurological Diseases or Conditions
Metabolic Diseases
Infectious Diseases
Others
AI-based Clinical Trials Solution Provider End-user Outlook (Revenue, USD Million, 2016 - 2028) Pharmaceutical Companies
Academia
Others
AI-based Clinical Trials Solution Provider Regional Outlook (Revenue, USD Million, 2016 - 2028) North America
o
U.S.
o
Canada
o
U.K.
o
Germany
o
Italy
o
France
o
Spain
Europe
o
Russia
o
Australia
o
China
o
Japan
o
South Korea
o
India
Asia Pacific
Latin America o
Mexico
o
Brazil
o
Argentina
Middle East & Africa o
South Africa
o
Saudi Arabia
o
UAE
List of Key Players of AI-based Clinical Trials Solution Provider Market Unlearn.AI, Inc.
Saama Technologies
Antidote Technologies, Inc.
Phesi
Deep 6 AI
Innoplexus
Mendel.ai
Intelligencia
Median Technologies
Symphony AI
BioAge Labs, Inc.
AiCure, LLC
CONSILX
DEEP LENS AI
Halo Health Systems
Pharmaseal
Ardigen
Trials.Ai
Koneksa Health
Euretos
BioSymetrics
Google- Verily
GNS Healthcare
IBM Watson
Exscientia
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