The market size of the global AI-based clinical trial solutions for patient matching market in the year 2021 is valued at 234.53 million and is predicted to reach 2150.40 million by the year 2030 at an 28.27% CAGR during the forecast period.
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.
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.
The major key players in the AI-based clinical trial solutions for the patient matching market are “Unlearn.AI, Inc., Antidote Technologies, Inc., Deep6.ai, Mendel.ai, Aris Global, Deep Lens AI, AmerisourceBergen Corporation, Konaks, Microsoft Corporation, GNS Healthcare.