Global Artificial Intelligence Ai In Clinical Trials Market Overview 2024, Forecast To 2033
8 Mar, 2024
The AI in clinical trials market soared from $1.52 billion in 2023 to $1.95 billion in 2024, at a CAGR of 28.1%. Forecasted to hit $4.86 billion by 2028, growing at a CAGR of 25.6%. Driving factors include data complexity, regulatory demands, and patient-centric approaches. Trends like adaptive trial design and AI-driven patient recruitment will shape the future.
Global Artificial Intelligence AI In Clinical Trials Market Key Driver
The growing need to curb clinical trial costs is expected to propel the growth of artificial intelligence in the clinical trial market. Clinical trials refer to research studies used to test medical interventions, with costs rising significantly. For instance, in February 2023, developing a new drug among the top 20 global biopharma companies rose by 15% from $298 million in 2022 to approximately $2.3 billion in 2023. Furthermore, in January 2023, the adoption of AI within the next five years is expected to generate substantial cost savings in healthcare, equating to approximately $200 billion to $360 billion in annual savings.
Get A Free Sample Of The Global Artificial Intelligence AI In Clinical Trials Market ReportGlobal Artificial Intelligence AI In Clinical Trials Market Segments
The artificial intelligence (ai) in clinical trials market covered in this report is segmented –
1) Offering:Software, Services
2) Process:Trial Design, Patient Selection, Site Selection, Patient Monitoring
3) Application:Oncology, Neurological Disease And Condition, Cardiovascular Disease, Metabolic Disease, Infectious Disease, Immunology Disease, Other Applications
4) End-User:Pharmaceutical And Biotechnology Company, Contract Research Organizations, Other End-Users
By Geography: The countries covered in the artificial intelligence (ai) in clinical trials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the artificial intelligence (AI) in clinical trials market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (ai) in clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Artificial Intelligence AI In Clinical Trials Industry Players
Medable Inc.; PathAI inc.; Saama Technologies Inc.; Apellis Pharmaceuticals Inc.; TriNetX LLC; SymphonyAI Summit Inc.; Aktana; Nference Inc.; Insilico Medicine Inc.; Vineti Inc.; Innoplexus AG; Healx; AiCure Inc.; MEDIAN Technologies SA; Owkin Inc.; Science 37; Ardigen SA; Cyft Inc.; Unlearn.AI Inc.; Mendel AI; Deep Lens Inc.; Antidote Technologies Inc.; Arterys Inc.; Euretos BV; Halo Health Systems Inc.; Trials.Ai Inc.; Transparency Life Sciences; BioAge Labs Inc.; Wave Life Sciences Ltd.; BioSymetrics Inc.
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Artificial Intelligence AI In Clinical Trials Market Overview
Artificial intelligence in clinical trials refers to using artificial intelligence to design more efficient and adequate clinical trials. Artificial intelligence is used in clinical trials to improve trial design and optimization through predictions about patient behavior and drug efficacy.