5.JPG)
The AI-based Clinical Trial Solutions for Patient Matching Market Size is valued at USD 369.12 Million in 2023 and is predicted to reach USD 2834.23 Million by the year 2031 at a 29.42 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The increasing influence of Artificial Intelligence and Machine Learning on clinical trials maps out the future growth of this quickly developing field.
- The increasing demand AI-powered technologies is expected to drive industry growth.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- One of the significant concerns restraining industry growth is that AI-based clinical trial solutions for patient matching is time-consuming and costly.
A network-wide clinical trial matching tool powered by artificial intelligence (AI) called VIPER. AI technology is intended to enable, prioritize, and expedite patient enrollment during the trial recruitment process. The use of AI-powered solutions in controlling and implementing medical testing is responsible for the market’s expansion. These solutions can help shorten the duration of the clinical trial cycle, which lowers costs and improves reliability while also improving the efficiency of trial production. The primary driver of AI-based clinical trial solutions for the patient matching market is that a massive percentage of pharmaceutical companies are forced to make significant investments in new drug development to increase the number of products in their product pipelines. Clinical and biomedical research using digitalization is creating prospects for AI-based clinical trial solutions for the patient-matching market.
Leading pharma companies are incorporating cutting-edge technological solutions for improved patient management and clinical outcomes. Government entities in developed nations fund the development of AI-based clinical trial survey technologies while establishing a strong regulatory foundation. Additionally, governments in emerging economies are educating stakeholders about AI-based clinical trial solutions so that they may concentrate on finding novel treatments and expediting patient enrollment, which will increase patient experience and monitoring. However, risks associated with data privacy might constrain AI-based clinical trial solutions for the patient-matching market in the coming years.
Market Segmentation:
The Ai-based clinical trial solutions for the patient matching market are segmented based on therapeutic application and end users. Based on therapeutic applications, the AI-based clinical trial solutions for the patient matching market is segmented as oncology, cardiovascular diseases, neurological diseases or condition, metabolic diseases, infectious diseases, and others. By application, the AI-based clinical trial solutions for the patient matching market are segmented into pharmaceutical companies, academia, and others.
Based on product, the pharmaceutical company’s segment is accounted as a significant contributor in the AI-based clinical trial solutions for the patient matching market
The pharmaceutical company’s segment is expected to hold a major share in the global AI-based clinical trial solutions for patient matching market in 2021 due to the increased emphasis on creating biomarkers and diagnostics that work better, employing AI-based innovations to find new drug targets and streamlining the application development. The expanding pharmaceutical sector is further fueling the market due to the prevalence of chronic diseases and the rising demand for new treatments. The market is also benefiting from a partnership between major pharmaceutical companies and AI providers to use AI technologies designed for the entire process of discovering new medicines.
The oncology segment witnessed growth at a rapid rate
The oncology segment is projected to grow rapidly in the global AI-based clinical trial solutions for the patient matching market. The number of AI-based clinical trial solutions for patient matching is rising due to the rising incidence rate of cancer worldwide, positively affecting the industry. Leading pharmaceutical corporations are also collaborating with AI development firms to deploy AI-based oncology technologies created for the creation of pharmaceuticals., especially in countries such as the US, Germany, the UK, China, and India.
The North America AI-based clinical trial solutions for patient matching in the region hold a significant revenue share
The North America AI-based clinical trial solutions for the patient matching market are expected to register the highest market share in revenue soon. The development of a sizable patient population, affordable access to highly skilled labor, and reasonable hiring rates are the fundamental causes of this. The market’s growth is primarily driven by increased usage of AI-based technologies and rising awareness of these solutions. A greater number of startups have emerged due to the growing consumption, which is anticipated to create new prospects for the industry in this region.
In addition, Asia Pacific is projected to grow at a rapid rate in the global AI-based clinical trial solutions for the patient matching market. The growing demand for AI-based technology and the incorporation of government initiatives contribute to the region’s growth. Major market players are also boosting their R&D in AI-based technologies for clinical trials to enhance their market shares. Activities include joint ventures, agreements, affiliations, and other strategic alliances with rival market participants.
Recent Developments:
- In September 2022,The Bridge2AI program was created by the NIH, with the goal of engaging people from diverse groups and providing a range of tools, resources, and data to facilitate the development of an AI strategy.
- In February 2022, Qureight secured a seed investment of USD 1.50 million for its AI-powered platform, which effectively decreased drug expenses by accelerating clinical trials and shortening their duration.
Competitive Landscape:
Some Major Key Players In The AI-based Clinical Trial Solutions For Patient Matching Market:
- Unlearn.AI, Inc.
- Antidote Technologies, Inc.
- deep6.ai
- Mendel.ai
- Aris Global
- Deep Lens AI
- AmerisourceBergen Corporation
- Konaks
- Microsoft Corporation
- GNS Healthcare
AI-based Clinical Trial Solutions for Patient Matching Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 369.12 Million |
|
Revenue forecast in 2031 |
USD 2834.23 Million |
|
Growth rate CAGR |
CAGR of 29.42 % from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Therapeutic Application, End-Use |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Unlearn.AI, Inc., Antidote Technologies, Inc., Deep6.ai, Mendel.ai, Aris Global, Deep Lens AI, AmerisourceBergen Corporation, Konaks, Microsoft Corporation, GNS Healthcare. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
