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AI-Powered Clinical Trial Management Market - Forecasts from 2024 to 2029

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    Report

  • 150 Pages
  • September 2024
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 6014291
The AI-powered clinical trial management market is expected to grow at a CAGR of 22.50%, reaching a market size of US$4.950 billion in 2029 from US$1.794 billion in 2024.

The market for using AI in healthcare has experienced a significant boom with a rise in the adoption of AI by the major players. The AI-driven clinical trial management market speeds up and improves various stages of clinical trials via patient recruitment, data analysis, and protocol optimization. AI makes drug development more efficient, cheaper, and quicker by automating repetitive tasks and providing predictive insights.

This revolutionary technology can change the entire process of medical research, enabling more accurate, swift decisions. Due to increasing uptake by pharmaceutical companies, research institutions, and healthcare providers of AI-based solutions, this market is expected to grow substantially, transforming its landscape and eventually improving patient care.

The market for providers of AI-based clinical trial solutions is being driven by the growing adoption of AI-based platforms to enhance the efficiency and effectiveness of trials at different stages. One factor driving the market expansion is the public and private sectors' supportive initiatives for various therapeutic areas. Additionally, the market is growing due to the increased awareness and various uses of AI in clinical trials, including better patient selection, site selection, drug trial design, patient monitoring, and more.

AI-powered Clinical Trial Management Market Drivers:

  • Increased demand for drug trials is anticipated to increase the market demand
As a result of the growing application of artificial intelligence to drug trials and the availability of different AI solutions designed specifically for pharmaceutical research, such as medication compliance, trial design, selection of investigators or sites, patient monitoring, etc., the area offering AI-based clinical trial solutions is widening. Enrollment and patient eligibility are two crucial processes for the overall success of the medication trial. According to studies, 30% of medication trials end early because of patient recruitment failure, and 85% of trials are postponed during patient recruitment. Platforms with an AI component are helping to lower this barrier. In turn, the market for AI-based clinical trial solution providers is driven by several researchers utilizing AI in drug trials.

AI-powered Clinical Trial Management Market Geographical Outlook

  • North America is witnessing exponential growth during the forecast period
Regarding technological progress and innovation concerning artificial intelligence, North America, particularly the United States, has been at the forefront of the world. Numerous premier information technology organizations, learning institutions, and start-ups focused on preparing state-of-the-art AI answers for various industries, such as medical research or the health sector, are found in this region. A lot of funds and materials have been allocated to AI companies as well as research projects. More capital ventures, public sectors, and individual financiers have expressed their interest in creating and utilizing AI technologies in healthcare services, including clinical trials.

Reasons for buying this report::

  • Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
  • Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
  • Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
  • Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
  • Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.

What do businesses use our reports for?

Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

  • Historical data & forecasts from 2022 to 2029
  • Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
  • Competitive Positioning, Strategies, and Market Share Analysis
  • Revenue Growth and Forecast Assessment of segments and regions including countries
  • Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The AI-powered clinical trial management market is segmented and analyzed as follows:

  • By Type of AI solution
    • Clinical Trial Planning and Design
    • Patient Recruitment and Enrolment
    • Data Management and Analysis
    • Monitoring And Oversight
    • Safety And Pharmacovigilance
  • By Function
    • Predictive Analytics
    • Natural Language Processing (NLP)
    • Machine Learning
    • Robotic Process Automation (RPA)
    • Image And Signal Processing
  • By End-User
    • Pharmaceutical Companies
    • Contract Research Organizations (Cros)
    • Academic And Research Institutions
    • Biotechnology Companies
    • Medical Device Manufacturers
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Table of Contents

1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key Benefits to the Stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
3.2. CXO Perspective
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. AI-POWERED CLINICAL TRIAL MANAGEMENT MARKET BY TYPE OF AI SOLUTION
5.1. Introduction
5.2. Clinical Trial Planning and Design
5.3. Patient Recruitment and Enrollment
5.4. Data Management and Analysis
5.5. Monitoring And Oversight
5.6. Safety And Pharmacovigilance
6. AI-POWERED CLINICAL TRIAL MANAGEMENT MARKET BY FUNCTION
6.1. Introduction
6.2. Predictive Analytics
6.3. Natural Language Processing (NLP)
6.4. Machine Learning
6.5. Robotic Process Automation (RPA)
6.6. Image And Signal Processing
7. AI-POWERED CLINICAL TRIAL MANAGEMENT MARKET BY END-USER
7.1. Introduction
7.2. Pharmaceutical Companies
7.3. Contract Research Organizations (Cros)
7.4. Academic And Research Institutions
7.5. Biotechnology Companies
7.6. Medical Device Manufacturers
8. AI-POWERED CLINICAL TRIAL MANAGEMENT MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. By Type of AI Solution
8.2.2. By Function
8.2.3. By End-User
8.2.4. By Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. By Type of AI Solution
8.3.2. By Function
8.3.3. By End-User
8.3.3.1. Brazil
8.3.3.2. Argentina
8.3.3.3. Others
8.4. Europe
8.4.1. By Type of AI Solution
8.4.2. By Function
8.4.3. By End-User
8.4.4. By Country
8.4.4.1. United Kingdom
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Italy
8.4.4.5. Spain
8.4.4.6. Others
8.5. Middle East and Africa
8.5.1. By Type of AI Solution
8.5.2. By Function
8.5.3. By End-User
8.5.4. By Country
8.5.4.1. Saudi Arabia
8.5.4.2. UAE
8.5.4.3. Others
8.6. Asia Pacific
8.6.1. By Type of AI Solution
8.6.2. By Function
8.6.3. By End-User
8.6.4. By Country
8.6.4.1. Japan
8.6.4.2. China
8.6.4.3. India
8.6.4.4. South Korea
8.6.4.5. Taiwan
8.6.4.6. Thailand
8.6.4.7. Indonesia
8.6.4.8. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
10.1. Medidata Solutions (Acquired by Dassault Systèmes)
10.2. Oracle Corporation
10.3. IBM Corporation
10.4. Veeva Systems
10.5. Clinerion
10.6. Saama Technologies
10.7. Bioclinica
10.8. Arisglobal
10.9. Aicure
10.10. Medable

Companies Mentioned

Some of the key companies profiled in this AI-Powered Clinical Trial Management Market report include:
  • Medidata Solutions (Acquired by Dassault Systèmes)
  • Oracle Corporation
  • IBM Corporation
  • Veeva Systems
  • Clinerion
  • Saama Technologies
  • Bioclinica
  • Arisglobal
  • Aicure
  • Medable

Methodology

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Table Information