AI-based Clinical Trials Solution Provider Market By 2022 to 2032: Forecast and Market Projections from Sanket Badgujar's blog

The global AI-based clinical trials solution provider market is anticipated to grow at a CAGR of 23.2% from 2022 to 2032, from USD 1.7 billion to USD 14.2 billion.

According to Future Market Insights, a provider of market research and competitive intelligence, the market for AI-based Clinical Trials Solution Providers is expected to expand steadily as a result of growing public and private sector initiatives to improve healthcare facilities through the use of cutting-edge AI technologies and drugs.

Pharmaceutical companies are increasingly using artificial intelligence (AI) and machine learning approaches to improve clinical trial efficiency, streamline clinical practise procedures, and find new treatments and therapies more quickly and affordably.

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North America region dominates the global AI-based Clinical Trials Solution Provider market share owing to the region’s expanding government and corporate investment in AI-based technologies to achieve higher efficiency and improve operational processes and increasing use of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and deep learning in clinical trials. Europe holds the second-largest largest share in the AI-based Clinical Trials Solution Provider market followed by the ASEAN region.

The top therapeutic application of AI-based Clinical Trials is oncology with market size of USD 432.7 Million in 2022. Growing emphasis on integrating AI in cancer care to improve the speed and accuracy of cancer diagnosis is the driving factor.

Key Takeaways from Market Study:

• The AI-based Clinical Trials Solution Provider market is anticipated to add 8X value by 2032
• The market is expected to expand at a considerable growth rate of 24.5% and be valued at USD 14.2 Billion by 2032
• AiCure LLC, Unlearn.AI, Inc., and Saama Technologies Inc. are the top giants in AI-based Clinical Trials Solution Providers
• Based on end use, pharmaceutical companies accounted for around 65% of the global market share in 2021

• Saama Technologies Inc. announced a collaboration with Oracle Corporation in March 2021 to integrate Oracle’s Health Science’s Clinical One Platform with Saama’s smart applications.

“Raising awareness of the advantages of AI-based clinical trials and measures to support public and private sector R&D in various therapeutic areas are fuelling the need for AI-based Clinical Trials Solution Providers”, says a Future Market Insights analyst.

Winning Strategy:

To fulfil the rising demand, major firms are focusing on initiatives such as mergers and acquisitions and the expansion of worldwide distribution networks. To stay competitive in the post-coronavirus economy, companies are launching innovative products into the market.

The AI-based Clinical Trials Solution providers are manufactured by companies such as:

• AiCure, LLC
• AI, Inc.
• BioAge Labs Inc.
• Antidote Technologies, Inc.
• Saama Technologies Inc.
• International Machine Business Corporation (IBM)

Key Segments Covered in AI-based Clinical Trials Solution Provider Industry Survey:

AI-based Clinical Trials Solution Provider Market by Therapeutic Applications:

• Cardiovascular diseases
• Neurological Diseases
• Infectious diseases
• Metabolic diseases
• Oncology

AI-based Clinical Trials Solution Provider Market based on trial phase:

• Phase I
• Phase II
• Phase III

AI-based Clinical Trials Solution Provider Market by end user:

• Pharmaceutical companies
• Academia
• Others

AI-based Clinical Trials Solution Provider Market based on trial phase:

• North America
• Latin America
• Europe
• East Asia
• South Asia and ASEAN
• Oceania
• Middle East and Africa