November 14, 2024
ICT

AI in Clinical Trials Market Size to Rise USD 18.82 Bn by 2033

The AI in clinical trials market size is poised to grow by USD 18.82 billion by 2033 from USD .6 billion in 2023, exhibiting a CAGR of 28% during the forecast period 2024 to 2033. 

Key Takeaways

  • North America held the dominating share of the AI in clinical trials market in 2023.
  • By offering, the services segment held the largest market share in 2023.
  • By technology, the deep learning segment held the dominating market share in 2023.
  • By application, the infectious disease segment dominated the market in 2023.
  • By end-user, the pharmaceutical segment held the largest share of the market in 2023; the segment is observed to sustain dominance throughout the forecast period.

AI in Clinical Trials Market Size 2024 to 2033

The AI in Clinical Trials Market is witnessing significant growth driven by the increasing adoption of artificial intelligence (AI) technologies in the pharmaceutical and healthcare sectors. AI is revolutionizing clinical trials by optimizing various processes, such as patient recruitment, trial design, data analysis, and decision-making. This technology enables more efficient and cost-effective clinical trials, leading to accelerated drug development and improved patient outcomes.

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Growth Factors

Several factors contribute to the growth of the AI in Clinical Trials Market. Firstly, the rising demand for personalized medicine and targeted therapies necessitates more precise and efficient clinical trial methodologies, which AI can facilitate. Secondly, advancements in AI algorithms and machine learning techniques enhance the ability to analyze vast amounts of clinical data, uncovering valuable insights and patterns that were previously inaccessible. Additionally, the need to streamline the drug development process amid increasing regulatory scrutiny and cost pressures further drives the adoption of AI in clinical trials.

AI in Clinical Trials Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 28%
Global Market Size in 2023 USD 1.6 Billion
Global Market Size by 2033 USD 18.82 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Offering, By Technology, By Application, and By End-user
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read More: Network Engineering Services Market Size to Reach $97 Bn by 2033

Opportunities

The AI in Clinical Trials Market presents numerous opportunities for stakeholders across the healthcare and pharmaceutical industries. AI-powered technologies offer the potential to accelerate drug discovery and development timelines by optimizing trial design, patient recruitment, and data analysis. Moreover, AI-driven predictive analytics can enhance trial success rates by identifying suitable patient populations and predicting treatment outcomes more accurately. Furthermore, the integration of AI with other emerging technologies, such as big data analytics and digital health platforms, opens up possibilities for more comprehensive and insightful clinical trials.

Challenges

Despite the promising opportunities, the AI in Clinical Trials Market faces several challenges that need to be addressed for widespread adoption. One major challenge is the need for robust data infrastructure and interoperability standards to ensure seamless integration and analysis of diverse clinical data sources. Additionally, concerns about data privacy, security, and regulatory compliance pose significant hurdles, particularly regarding patient data sharing and AI algorithm transparency. Moreover, the complexity of AI algorithms and the lack of interpretability may hinder trust and acceptance among clinicians and regulatory authorities, requiring efforts to enhance transparency and explainability in AI-driven clinical trials. Lastly, there is a shortage of skilled professionals with expertise in both AI and clinical research, highlighting the need for specialized training and collaboration between interdisciplinary teams to fully harness the potential of AI in clinical trials.

AI in Clinical Trials Market Companies

  • AiCure
  • Antidote Technologies
  • Deep 6 AI
  • Mendel.ai
  • Phesi
  • Saama Technologies
  • Signant Health
  • Trials.ai
  • Innoplexus
  • IQVIA
  • Median Technologies
  • Medidata

Data Sources and Methodology

To gather comprehensive insights on the Global AI in clinical trials Market, we relied on a range of data sources and followed a well-defined methodology. Our approach involved interactions with industry experts and key stakeholders across the market’s value chain, including management organizations, processing organizations, and analytics service providers.

We followed a rigorous data analysis process to ensure the quality and credibility of our research. The gathered information was carefully evaluated, and relevant quantitative data was subjected to statistical analysis. By employing robust analytical techniques, we were able to derive meaningful insights and present a comprehensive overview of the Global AI in clinical trials Market.

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  • The research report has been meticulously crafted to provide comprehensive knowledge on essential marketing strategies and a holistic understanding of crucial marketing plans spanning the forecasted period from 2023 to 2032.

Key Features of the Report:

  • Comprehensive Coverage: The report extensively encompasses a detailed explanation of highly effective analytical marketing methods applicable to companies across all industry sectors.
  • Decision-Making Enhancement: It outlines a concise overview of the decision-making process while highlighting key techniques to enhance it, ensuring favorable business outcomes in the future.
  • Articulated R&D Approach: The report presents a well-defined approach to conducting research and development (R&D) activities, enabling accurate data acquisition on current and future marketing conditions.

Market Segmentation:

By Offering

  • Software
  • Services

By Technology

  • Machine learning
  • Deep learning
  • Supervised

By Application

  • Cardiovascular
  • Metabolic
  • Oncology
  • Infectious diseases

By End-user

  • Pharma
  • Biotech
  • CROs

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Reasons to Consider Purchasing the Report:

  • Enhance your market research capabilities by accessing this comprehensive and precise report on the global AI in clinical trials market.
  • Gain a thorough understanding of the overall market landscape and be prepared to overcome challenges while ensuring robust growth.
  • Benefit from in-depth research and analysis of the latest trends shaping the global AI in clinical trials market.
  • Obtain detailed insights into evolving market trends, current and future technologies, and strategic approaches employed by key players in the global AI in clinical trials market.
  • Receive valuable recommendations and guidance for both new entrants and established players seeking further market expansion.
  • Discover not only the cutting-edge technological advancements in the global AI in clinical trials market but also the strategic plans of industry leaders.

Table of Content

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on AI in Clinical Trials Market 

5.1. COVID-19 Landscape: AI in Clinical Trials Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global AI in Clinical Trials Market, By Offering

8.1. AI in Clinical Trials Market, by Offering, 2024-2033

8.1.1. Software

8.1.1.1. Market Revenue and Forecast (2021-2033)

8.1.2. Services

8.1.2.1. Market Revenue and Forecast (2021-2033)

Chapter 9. Global AI in Clinical Trials Market, By Technology

9.1. AI in Clinical Trials Market, by Technology, 2024-2033

9.1.1. Machine learning

9.1.1.1. Market Revenue and Forecast (2021-2033)

9.1.2. Deep learning

9.1.2.1. Market Revenue and Forecast (2021-2033)

9.1.3. Supervised

9.1.3.1. Market Revenue and Forecast (2021-2033)

Chapter 10. Global AI in Clinical Trials Market, By Application 

10.1. AI in Clinical Trials Market, by Application, 2024-2033

10.1.1. Cardiovascular

10.1.1.1. Market Revenue and Forecast (2021-2033)

10.1.2. Metabolic

10.1.2.1. Market Revenue and Forecast (2021-2033)

10.1.3. Oncology

10.1.3.1. Market Revenue and Forecast (2021-2033)

10.1.4. Infectious diseases

10.1.4.1. Market Revenue and Forecast (2021-2033)

Chapter 11. Global AI in Clinical Trials Market, By End-user 

11.1. AI in Clinical Trials Market, by End-user, 2024-2033

11.1.1. Pharma

11.1.1.1. Market Revenue and Forecast (2021-2033)

11.1.2. Biotech

11.1.2.1. Market Revenue and Forecast (2021-2033)

11.1.3. CROs

11.1.3.1. Market Revenue and Forecast (2021-2033)

Chapter 12. Global AI in Clinical Trials Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Offering (2021-2033)

12.1.2. Market Revenue and Forecast, by Technology (2021-2033)

12.1.3. Market Revenue and Forecast, by Application (2021-2033)

12.1.4. Market Revenue and Forecast, by End-user (2021-2033)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Offering (2021-2033)

12.1.5.2. Market Revenue and Forecast, by Technology (2021-2033)

12.1.5.3. Market Revenue and Forecast, by Application (2021-2033)

12.1.5.4. Market Revenue and Forecast, by End-user (2021-2033)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Offering (2021-2033)

12.1.6.2. Market Revenue and Forecast, by Technology (2021-2033)

12.1.6.3. Market Revenue and Forecast, by Application (2021-2033)

12.1.6.4. Market Revenue and Forecast, by End-user (2021-2033)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Offering (2021-2033)

12.2.2. Market Revenue and Forecast, by Technology (2021-2033)

12.2.3. Market Revenue and Forecast, by Application (2021-2033)

12.2.4. Market Revenue and Forecast, by End-user (2021-2033)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Offering (2021-2033)

12.2.5.2. Market Revenue and Forecast, by Technology (2021-2033)

12.2.5.3. Market Revenue and Forecast, by Application (2021-2033)

12.2.5.4. Market Revenue and Forecast, by End-user (2021-2033)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Offering (2021-2033)

12.2.6.2. Market Revenue and Forecast, by Technology (2021-2033)

12.2.6.3. Market Revenue and Forecast, by Application (2021-2033)

12.2.6.4. Market Revenue and Forecast, by End-user (2021-2033)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Offering (2021-2033)

12.2.7.2. Market Revenue and Forecast, by Technology (2021-2033)

12.2.7.3. Market Revenue and Forecast, by Application (2021-2033)

12.2.7.4. Market Revenue and Forecast, by End-user (2021-2033)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Offering (2021-2033)

12.2.8.2. Market Revenue and Forecast, by Technology (2021-2033)

12.2.8.3. Market Revenue and Forecast, by Application (2021-2033)

12.2.8.4. Market Revenue and Forecast, by End-user (2021-2033)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Offering (2021-2033)

12.3.2. Market Revenue and Forecast, by Technology (2021-2033)

12.3.3. Market Revenue and Forecast, by Application (2021-2033)

12.3.4. Market Revenue and Forecast, by End-user (2021-2033)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Offering (2021-2033)

12.3.5.2. Market Revenue and Forecast, by Technology (2021-2033)

12.3.5.3. Market Revenue and Forecast, by Application (2021-2033)

12.3.5.4. Market Revenue and Forecast, by End-user (2021-2033)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Offering (2021-2033)

12.3.6.2. Market Revenue and Forecast, by Technology (2021-2033)

12.3.6.3. Market Revenue and Forecast, by Application (2021-2033)

12.3.6.4. Market Revenue and Forecast, by End-user (2021-2033)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Offering (2021-2033)

12.3.7.2. Market Revenue and Forecast, by Technology (2021-2033)

12.3.7.3. Market Revenue and Forecast, by Application (2021-2033)

12.3.7.4. Market Revenue and Forecast, by End-user (2021-2033)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Offering (2021-2033)

12.3.8.2. Market Revenue and Forecast, by Technology (2021-2033)

12.3.8.3. Market Revenue and Forecast, by Application (2021-2033)

12.3.8.4. Market Revenue and Forecast, by End-user (2021-2033)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Offering (2021-2033)

12.4.2. Market Revenue and Forecast, by Technology (2021-2033)

12.4.3. Market Revenue and Forecast, by Application (2021-2033)

12.4.4. Market Revenue and Forecast, by End-user (2021-2033)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Offering (2021-2033)

12.4.5.2. Market Revenue and Forecast, by Technology (2021-2033)

12.4.5.3. Market Revenue and Forecast, by Application (2021-2033)

12.4.5.4. Market Revenue and Forecast, by End-user (2021-2033)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Offering (2021-2033)

12.4.6.2. Market Revenue and Forecast, by Technology (2021-2033)

12.4.6.3. Market Revenue and Forecast, by Application (2021-2033)

12.4.6.4. Market Revenue and Forecast, by End-user (2021-2033)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Offering (2021-2033)

12.4.7.2. Market Revenue and Forecast, by Technology (2021-2033)

12.4.7.3. Market Revenue and Forecast, by Application (2021-2033)

12.4.7.4. Market Revenue and Forecast, by End-user (2021-2033)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Offering (2021-2033)

12.4.8.2. Market Revenue and Forecast, by Technology (2021-2033)

12.4.8.3. Market Revenue and Forecast, by Application (2021-2033)

12.4.8.4. Market Revenue and Forecast, by End-user (2021-2033)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Offering (2021-2033)

12.5.2. Market Revenue and Forecast, by Technology (2021-2033)

12.5.3. Market Revenue and Forecast, by Application (2021-2033)

12.5.4. Market Revenue and Forecast, by End-user (2021-2033)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Offering (2021-2033)

12.5.5.2. Market Revenue and Forecast, by Technology (2021-2033)

12.5.5.3. Market Revenue and Forecast, by Application (2021-2033)

12.5.5.4. Market Revenue and Forecast, by End-user (2021-2033)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Offering (2021-2033)

12.5.6.2. Market Revenue and Forecast, by Technology (2021-2033)

12.5.6.3. Market Revenue and Forecast, by Application (2021-2033)

12.5.6.4. Market Revenue and Forecast, by End-user (2021-2033)

Chapter 13. Company Profiles

13.1. AiCure

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Antidote Technologies

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Deep 6 AI

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Mendel.ai

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Phesi

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Saama Technologies

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Signant Health

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Trials.ai

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Innoplexus

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. IQVIA

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

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