The report talks about the shift in demands and emerging trends that are expected to drive the growth of the AI-based Clinical Trials Solution Provider Market. The rising demand for the AI-based Clinical Trials Solution Provider Market is expected to drive the demand for AI-based Clinical Trials Solution Provider Market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global AI-based clinical trials solution provider market size reached USD 1.30 Billion in 2021 and is expected to register a revenue CAGR of 22% 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.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the AI based Clinical Trials Solution Provider market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analysed and validated through primaries.
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Report Scope:
Forecast Period: 2021- 2030
CAGR: 22%
Base Year: 2020
Number of Pages: 250
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Geographical Segmentation:
The latest research report entails an in-depth analysis of the current growth opportunities for various regions of the AI based Clinical Trials Solution Provider Market, gauging their revenue share over the forecast timeline. Furthermore, the report analyses the year-on-year growth rate of these regions over the forecast duration. The leading market regions profiled in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Leading Players Profiled in the Report:
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.
Some Key Highlights from the Report
- Phase-II segment is expected to account for largest revenue share over the forecast period, attributable to increasing number of second phase clinical trials active in the field of oncology and increasing focus on phase-II trail for developing effective treatment approach for specific types of diseases such as acute leukemia, glioblastoma, and Alzheimer’s disease.
- 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.
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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; 2019–2030)
- Phase-I
- Phase-II
- Phase-III
Therapeutic Application Outlook (Revenue, USD Billion; 2019–2030)
- Cancer
- Cardiovascular Disease
- Neurological Disease
- Metabolic Disease
- Infectious Disease
- Others
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Pharmaceuticals
- Academia
- Contract Research Organizations (CROs)
Key Questions Answered in the Report:
What is the growth rate of the AI based Clinical Trials Solution Provider market? What is the anticipated market valuation of AI based Clinical Trials Solution Provider industry by 2030?
What are the key growth driving and restraining factors of the AI based Clinical Trials Solution Provider market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the AI based Clinical Trials Solution Provider industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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In conclusion, the report is designed to provide an in-depth analysis of all the key change calculation factors that replicate the decisions that trigger the change, which pushes the player’s winning position profitable on the growth curve despite massive competition in the target AI based Clinical Trials Solution Provider market.
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