ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global AI-based Clinical Trials Solution Provider Market (2021 to 2028) - Size, Share & Trends Analysis Report - ResearchAndMarkets.com

August 26, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Aug 26, 2021--

The “AI-based Clinical Trials Solution Provider Market Size, Share & Trends Analysis Report by Therapeutic Application (Oncology, Cardiovascular Diseases, Metabolic Diseases), by Clinical Trial Phase, by End User, by Region and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.

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.

ADVERTISEMENT

Companies Mentioned

  • Unlearn.AI, Inc.
  • Saama Technologies
  • Antidote Technologies, Inc.
  • Exscientia
  • Google Inc. (Verily)
  • IBM Watson
  • GNS Healthcare
  • BioSymetrics
  • Euretos
  • Koneksa Health
  • Trials.Ai
  • Ardigen
  • Pharmaseal
  • Halo Health Systems
  • DEEP LENS AI
  • CONSILX
  • AiCure, LLC
  • BioAge Labs, Inc.
  • Symphony AI
  • Median Technologies
  • Intelligencia
  • Mendel.ai
  • Innoplexus
  • Deep 6 AI
  • Phesi

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.

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.

ADVERTISEMENT

In addition, the COVID-19 pandemic has also led to a surge in the utilization of AI-based technologies. The 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

Key Topics Covered:

Chapter 1 Research Methodology & Scope

Chapter 2 Executive Summary

Chapter 3 Global AI-based Clinical Trial Solution Providers Market Variables, Trends, & Scope

3.1 Market Lineage Outlook

3.2 Penetration and Growth Prospect Mapping

3.3 Market Dynamics

3.3.1 Market Driver Analysis

3.3.2 Market Restraint Analysis

3.4 Global AI-based Clinical Trial Solution Providers Market Analysis Tools

3.4.1 Industry Analysis - Porter’s

3.4.2 PESTEL Analysis

3.4.3 Major Deals & Strategic Alliances Analysis

3.5 COVID-19 Impact on the market

Chapter 4 AI-based Clinical Trial Solution Providers Market: Clinical Trial Phase Estimates & Trend Analysis

Chapter 5 AI-based Clinical Trial Solution Providers Market: Therapeutic Application Estimates & Trend Analysis

Chapter 6 AI-based Clinical Trial Solution Providers Market: End-user Estimates & Trend Analysis

Chapter 7 AI-based Clinical Trial Solution Providers Market: Regional Estimates & Trend Analysis, By Clinical Trial Phase, Therapeutic Application & End Users

Chapter 8 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/r05czg

View source version on businesswire.com:https://www.businesswire.com/news/home/20210826005521/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY HEALTH CLINICAL TRIALS

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 08/26/2021 09:30 AM/DISC: 08/26/2021 09:32 AM

http://www.businesswire.com/news/home/20210826005521/en