Dublin, April 02, 2024 (GLOBE NEWSWIRE) -- The "Global AI-based Clinical Trials Solution Provider Market Analysis & Forecast to 2024-2034: Market By Clinical Trial Phase; By Therapeutic Application; By End-user; and By Region" report has been added to ResearchAndMarkets.com's offering.
Rapid Expansion in AI Adoption
The AI-based clinical trials solution provider market is experiencing exponential growth, driven by key advancements in artificial intelligence technology and a surge in AI implementation across therapeutic applications. Projected to escalate at a compound annual growth rate (CAGR) of 22.08% from 2024 to 2034, the market is estimated to grow from USD 2.00 billion in 2023 to a significant USD 17.95 billion by 2034. This expansion is attributed to various factors including a growing need for efficient trial management, enhanced data analysis, and increasing investments in R&D activities within the pharmaceutical industry.
Phenomenal Growth Across Clinical Trial Phases
The Phase-II segment led the market in 2023, supported by a significant number of active phase-II trials and the adoption of AI tools for immediate outcome analysis. Conversely, Phase-I trials are expected to witness the fastest growth rate through the forecast period, as industry stakeholders turn to AI solutions for improved trial design and patient recruitment efforts.
Therapeutic Applications Driving the Market
Oncology remained a top-performing segment in therapeutic applications, owing to the high incidence of cancer globally and the number of AI-integrated clinical trials focused on this domain. Following closely, the cardiovascular disease segment is predicted to grow rapidly, propelled by the increasing prevalence of cardiovascular conditions and the enhanced capability of AI solutions in the analysis of these diseases.
End-User Insights
Pharmaceutical companies constituted the largest end-user segment, leveraging AI to expedite the development of new drugs and enhance diagnostic processes. The sector's future growth is fortified by industry collaboration and the introduction of sophisticated AI tools targeting various phases of drug development and clinical trials.
Geographical Market Trends
North America holds the leading market share, benefiting from an influx of AI start-ups and strategic initiatives aimed at improving trial outcomes. The Asia Pacific region is anticipated to grow at the most rapid pace, with increasing AI adoption catalyzed by favorable government policies, competitive clinical trial costs, and technological advancements.
This market growth marks a significant milestone in the utilization of AI within healthcare and positions the industry for transformative developments in the years to come. As companies continue to innovate and form strategic alliances, the AI-based clinical trials solution provider market is setting the stage for a new era in drug development and personalized medicine.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $2 Billion |
| Forecasted Market Value (USD) by 2034 | $17.95 Billion |
| Compound Annual Growth Rate | 22.0% |
| Regions Covered | Global |
Companies Featured
- CONSILX
- AiCure LLC
- Unlearn.AI Inc.
- Trials.Ai
- Intelligencia
- Symphony AI
- GNS Healthcare
- Google- Verily
- Innoplexus S.A.a Technologies
- BioSymetrics
- BioAge Labs Inc.
For more information about this report visit https://www.researchandmarkets.com/r/m5tp2i
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