Global AI-based clinical trial solutions for patient matching market size was valued at USD 230.92 million in 2021 and is expected to reach USD 1,969 Million by 2030, growing at a CAGR of 27.2% during the forecast period.
Polaris Market Research recently published [115+ Pages] research report on “AI-based Clinical Trial Solutions for Patient Matching Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Application; By End-Use (Pharmaceutical Companies, Academia, Others); By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global AI-based clinical trial solutions for patient matching market size was valued at USD 230.92 million in 2021 and is expected to reach USD 1,969 Million by 2030, growing at a CAGR of 27.2% during the forecast period.
What is the Expected Size & Share of AI-based Clinical Trial Solutions for Patient Matching Market
Unlocking accurate world data using predictive AI models and analytic tools can speed up the comprehension of diseases, recognizing appropriate patients and significant investigators to inform site selection and reinforce new clinical study designs. The rapidly rising demand for AI-based clinical trial solutions for patient matching market can be attributed to the fact that AI algorithms merged with a productive digital infrastructure could sanction the uninterrupted stream of clinical trial data to be cleaned, aggregated, coded, stored, and managed.
The market growth is extensively attributed to the involvement of AI-powered solutions in carrying out and handling clinical trials that can be advantageous for decreasing clinical trial cycle time, which additionally lessens the cost and also escalates accuracy along with the capacity of trial development. Growing enterprises by the government to encourage the adoption of AI technologies in the healthcare sector and increasing consciousness about AI-based technology further fuel market growth.
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Growth Driving Factors
Acquisition of digitization in clinical and biomedical research is unsealing possibilities for the market. AI-based clinical trial solutions for patient matching market size are expanding as key pharma companies include progressive technological solutions for improvised patient management and clinical trial results. AI-based clinical trial solutions escalate patient recruitment by lessening their population heterogeneity by blending extensive volumes of health information data for various sources and platforms such as medical imaging, electronic medical records, and omics data.
Government organizations of developed countries such as the US and Europe offer findings. They are concurrently laying out a strict regulatory framework to propel the adoption of AI-based solutions outlined for clinical trial studies. AI-based clinical trial solutions for patient matching market sales are soaring as governments of emerging countries are also spreading consciousness about AI-based clinical trial solutions amongst stakeholders to concentrate on discovering new medicines and speeding up patient recruitment, as this will enhance patient engagement and monitoring.
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Recent Developments
Segmental Analysis
Based on therapeutic applications, the oncology segment accounted for the largest market share. AI-based clinical trial solutions for patient matching market demand is rising due to the increasing incidence rate of cancer globally, positively impacting the industry. Paramount pharmaceutical companies are also uniting with AI development firms to install AI-based cancer technologies generated to create pharmaceuticals.
Based on end-use, the pharmaceutical companies segment has the most significant revenue share. AI-based clinical trial solutions for patient matching market trends include a growing prominence on advancing biomarkers and diagnostics more productively using AI-based technologies to discover new drug targets and streamline the development process. For instance, the text mining program Linguamatics from IQVIA provides NLP-based solutions for pharmaceutical firms.
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AI-based Clinical Trial Solutions for Patient Matching Market: Report Scope
Report Attribute | Details |
Market Outlook for 2030 | USD 1,969 Million |
Market Size 2022 Value | USD 287.49 Million |
Expected CAGR Growth | 27.2% from 2022 – 2030 |
Base Year | 2021 |
Forecast Year | 2022 – 2030 |
Top Market Players | Unlearn.AI, Inc.; Antidote Technologies; Inc.; Deep6.ai; Mendel.ai; Aris Global; Deep Lens; AmerisourceBergen Corporation; Koneksa; Microsoft Corporation; GNS Healthcare. |
Segments Covered | By Therapeutic Application, By End-use, By Region |
Customization Options | Customized purchase options are available to meet your research needs. Explore customized purchase options |
Geographic Overview
North America held the most comprehensive AI-based clinical trial solutions for patient matching market share due to the existence of crucial regional companies and the growth in the number of start-ups using AI. Further, the region has several registered clinical studies, which is advantageous to the industry. As per the data from World Health Organization (WHO), the US conducted the majority of the clinical trials numbering approximately 157,618 studies between 1999 and 2021.
Asia Pacific region is expected to have the market’s quickest CAGR in the forecast period due to escalating usage of clinical technologies dependent on AI and pro-AI government endeavors. Further, assisting the business is the region’s growing number of clinical studies. As per the NIH statistics from 2019, Asia Pacific is developing as a nucleus for conducting clinical trials at a reasonable cost.
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Frequently Asked Questions
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Jan 23, 2023