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AI-based Clinical Trials Solution Provider Market Trends –Increasing integration of AI with big data

VANCOUVER, BC, CANADA, January 17, 2022 /EINPresswire.com/ -- The global AI-based clinical trials solution provider market size reached USD 1.24 Billion in 2020 and is expected to register a revenue CAGR of 21.5% 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. AI-enabled technologies are enabling data integration and interpretation along with evolutionary modelling and pattern recognition for gathering, normalizing, analyzing, and harnessing the growing volumes of data that fuel modern therapy development. Thus, AI and advanced analytics are considered as the digital technology that can potentially improve clinical R&D productivity and clinical outcomes, and this is expected to augment growth of global AI-based clinical trials solution provider market to a significant extent.

The report aims to offer a clear understanding of the market with respect to the manufacturers, suppliers, vendors, distributors, and key companies involved in the market. The report has been formulated through extensive primary and secondary research along with verified and reliable data obtained from industry experts and professionals. The key findings from the report have been sorted into charts, figures, tables, and other pictorial representations.

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The research study presents an industry-wide summary of the AI-based Clinical Trials Solution Provider market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The global AI-based Clinical Trials Solution Provider research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.

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.

Market Snapshot

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.

Some key players in the market include 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.

It further offers a comprehensive coverage of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, and partnerships, among others. Key strategic alliances for product development and advancements is expected to add traction to market growth going ahead. The report also covers an in-depth analysis of the key competitors of the market along with their growth strategies and business expansion plans.

For More Details On this Report: https://www.emergenresearch.com/industry-report/ai-based-clinical-trials-solution-provider-market

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; 2018–2028)

Phase-I

Phase-II

Phase-III

Therapeutic Application Outlook (Revenue, USD Billion; 2018–2028)

Cancer

Cardiovascular Disease

Neurological Disease

Metabolic Disease

Infectious Disease

Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

Pharmaceuticals

Academia

Contract Research Organizations (CROs)

Regional analysis of the AI-based Clinical Trials Solution Provider market includes analysis of the production and consumption ratio, supply and demand dynamics, regional trends and growth drivers, growth prospects, presence of key manufacturers and vendors, and market size and share in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The report further offers key insights into country wise analysis and major factors driving revenue growth of each regional market.

Overview of the AI-based Clinical Trials Solution Provider Market Report:

Introduction, Product Scope, Market Overview, and Opportunities

Analysis of the Manufacturers with sales, revenue, and price analysis

Comprehensive analysis of the competitive landscape

Extensive profiling of the key competitors along with their business strategies and market size

Regional analysis of the market along with sales, revenue, market share, and global position

Country-wise analysis of the market along with types, applications, and manufacturing

Strategic recommendations to established players as well as new entrants

In-depth analysis of the risks, restraints, and limitations in the AI-based Clinical Trials Solution Provider industry

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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Emergen Research
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