AI-Based Clinical Trial Solutions for Patient Matching Market Report 2022: Growing Government Activities to Encourage the Use of Artificial Intelligence (AI) Drives Sector - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 21, 2022--
The “AI-based Clinical Trial Solutions for Patient Matching Market by Therapeutic Application, by End-user, and by Region - Global Forecast to 2023-2033” report has been added to ResearchAndMarkets.com’s offering.
The AI-based clinical trial solutions market size is estimated to be USD 235.21 million in 2022 and is expected to witness a CAGR of 27.21% during the forecast period 2023-2033. The adoption of AI-powered solutions in managing and performing clinical trials, growing government activities to encourage the use of artificial intelligence (AI) technologies in the healthcare industry, rising healthcare expenditure by major players, and growing public awareness of AI-based technology are projected to drive the market growth in near future. However, issues associated with data privacy is predicted to limit market growth.
Growing government activities to encourage the use of artificial intelligence (AI) technologies in the healthcare industry is expected to drive the market growth. Government entities in industrialized countries such as U.S. and Europe are funding the development of AI-based clinical trial study solutions even while establishing a strict regulatory framework.
Additionally, developing country governments are training stakeholders about AI-based clinical trial solutions so that they may concentrate on finding novel treatments and expediting patient enrollment, which will increase patient engagement and monitoring.
Rising healthcare expenditure by major players is projected to propel the market growth. Healthcare IT expenditures account for a sizable portion of healthcare costs in developed nations. Countries are implementing AI-based solutions to lower expenses and boost productivity. For instance, in September 2022, the National Institutes of Health (NIH) launched the Bridge2AI project, which will include participants from many organizations and focus on developing various tools, resources, and data for developing an AI strategy.
By Therapeutic Application
The market is categorized into cardiovascular diseases, infectious diseases, metabolic diseases, oncology, neurological diseases, and others. In 2022, the oncology segment accounted for the highest revenue share due to the rising prevalence of cancer worldwide. Leading pharmaceutical corporations are collaborating with AI development company to deploy AI-based oncology technologies designed for the development of pharmaceuticals.
By End User
The market is categorized into academia, pharmaceutical companies, and others. In the global market, pharmaceutical companies the segment accounted for the largest revenue share in 2022 owing to increasing emphasis on developing biomarkers and diagnostics. For instance, text mining system Linguamatics from IQVIA offers NLP-based solutions for pharmaceutical companies. The pharmaceutical industry is expanding as a result of the rising prevalence of chronic diseases and the increase in demand for customized therapy.
The market is also benefitting from a partnership between major pharmaceutical companies and AI providers for the implementation of AI technology designed for the complete medicine development process. However, it is anticipated that the others segment would have the fastest CAGR during the forecast period.
The growth can be credited to the growing use of AI-based solutions by government entities and research organizations (CROs), as these solutions lower the cost of clinical trials by improving the quality of data, rising patient compliance & retention, and more precisely determining the efficacy of the treatment.
In 2022, North America region accounted for the highest revenue in the AI-based clinical trial solutions market and is expected to maintain its dominance during the forecast period. This is attributed to existence of major companies in the area and increase in the number of start-ups using AI. Additionally, the region has a significant number of registered clinical studies, which benefits the industry.
Segmentation: AI-based Clinical Trial Solutions for Patient Matching Market Report 2022 - 2033
Therapeutic Application (Revenue, USD Million), 2022 - 2033
- Cardiovascular Diseases
- Infectious Diseases
- Metabolic Diseases
- Neurological Diseases
End user (Revenue, USD Million), 2022 - 2033
- Pharmaceutical Companies
By Region (Revenue, USD Million), 2022 - 2033
- Rest of Europe
- South Korea
- Rest of APAC
- Rest of LATAM
Middle East & Africa
- South Africa
- Rest of MEA
Key Topics Covered:
1. Research Methodology
2. Introduction: AI-based Clinical Trial Solutions for Patient Matching
3. Executive Summary
4. Market Dynamics
5. Market Environment Analysis
6. COVID-19 Impact Analysis: AI-based Clinical Trial Solutions for Patient Matching Market
7. Market Analysis by Therapeutic Application
8. Market Analysis by End User
9. Regional Market Analysis
10. North America AI-based Clinical Trial Solutions for Patient Matching Market
11. Europe AI-based Clinical Trial Solutions for Patient Matching Market
12. Asia Pacific AI-based Clinical Trial Solutions for Patient Matching Market
13. Latin America AI-based Clinical Trial Solutions for Patient Matching Market
14. MEA AI-based Clinical Trial Solutions for Patient Matching Market
15. Competitor Analysis
16. Company Profiles
17. Conclusion & Recommendations
- AmerisourceBergen Corporation
- Aris Global
- Antidote Technologies Inc.
- Deep Lens
- Unlearn.AI Inc.
- Microsoft Corporation
- GNS Healthcare.
For more information about this report visit https://www.researchandmarkets.com/r/kbo83f
View source version on businesswire.com:https://www.businesswire.com/news/home/20221221005491/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL TECHNOLOGY CLINICAL TRIALS ARTIFICIAL INTELLIGENCE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/21/2022 12:23 PM/DISC: 12/21/2022 12:23 PM