AI-based Clinical Trials Solution Provider Market 2028 : Top 10 Companies Offerings and by End-User Segments Forecasted Till 2028
The global AI-based clinical trials solution provider market size reached USD 1.24 Billion in 2020 and is expected to register a revenue CAGR of 21.5% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of Artificial Intelligence (AI)-enabled digital technology is a key factor driving global AI-based clinical trials solution provider market revenue growth. Increasing use of AI-enabled digital health technologies coupled with patient support platforms is expected to improve patient engagement and retention throughout study duration as well as after study termination, which is expected to propel revenue growth of the global AI-based clinical trial solution provider market.
AI-enabled technologies are enabling data integration and interpretation along with evolutionary modelling and pattern recognition for gathering, normalizing, analyzing, and harnessing the growing volumes of data that fuel modern therapy development. Thus, AI and advanced analytics are considered as the digital technology that can potentially improve clinical R&D productivity and clinical outcomes, and this is expected to augment growth of global AI-based clinical trials solution provider market to a significant extent.
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One of the crucial parts of this report comprises Global AI-based Clinical Trials Solution Provider Market industry key vendor’s discussion about the brand’s summary, profiles, market revenue, and financial analysis. The report will help market players build future business strategies and discover worldwide competition. A detailed segmentation analysis of the market is done on producers, regions, type and applications in the report.
Scope of the report :
The report provides a comprehensive analysis of the AI-based Clinical Trials Solution Provider Market segmented on the basis of type, product type, end-users and region.
The major regional and country markets
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players AiCure, LLC, Unlearn.AI, Inc., BioAge Labs Inc., Antidote Technologies, Inc., Saama Technologies Inc., International Machine Business Corporation (IBM), Concentro Health AI, Deep 6 AI Inc., PathAI Inc., and Owkin Inc.
Further key findings from the report suggest;
- Cancer segment is expected to account largest revenue share over the forecast period due to rising focus on integrating AI in cancer care to improve speed and accuracy of cancer diagnosis, to aid in clinical decision-making, and lead to improved healthcare outcomes, coupled with increasing investment in AI-enabled clinical trials to develop novel therapeutic drugs for cancer treatment.
- Contract Research Organizations (CROs) segment is expected to register a significantly robust CAGR in terms of revenue over the forecast period owing to rising implementation of AI-based solutions to improve clinical trial design, increasing number of research studies conducted to develop therapeutics for cardiovascular diseases, cancer, metabolic disorders, Central Nervous System Disorders (CNS), and increasing number of partnerships with biopharmaceutical companies in niche drug discovery.
- North America is expected to account for largest revenue share over the forecast period due to increasing prevalence of targeted diseases and growth in number of start-ups focusing on developing AI-based technology and platforms to improve trial success rates, lower trial costs, and enable researchers to manage clinical trial workflows more efficiently.
Global AI-based Clinical Trials Solution Provider Market Segmentation:
Emergen Research has segmented the global AI-based clinical trials solution provider market on the basis of clinical trial phase, therapeutic application, end-use, and region:
Clinical Trial Phase Outlook (Revenue, USD Billion; 2018–2028)
Therapeutic Application Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
Contract Research Organizations (CROs)
On the basis of geographically, the market report covers data points for multiple geographies such as United States, Europe, China, Japan, Southeast Asia, India, and Central& South America
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
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In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of AI-based Clinical Trials Solution Provider Market share contribution of these countries. In addition, AI-based Clinical Trials Solution Provider Market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
Frequently Asked Questions :
Which product segment grabbed the largest share in the AI-based Clinical Trials Solution Provider Market ?
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Which region holds the maximum share in the AI-based Clinical Trials Solution Provider Market ?
What will be the CAGR of the AI-based Clinical Trials Solution Provider Market during the forecast period?
Which application segment emerged as the leading segment in the AI-based Clinical Trials Solution Provider Market ?
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