Press release
AI in Clinical Trials Market To See Huge Growth In Forecast Year 2024-2030 | Cognate Life Sciences
The Latest Research Report on AI in Clinical Trials Market 2024 outlines the key factors influencing the growth of this area in terms of the competitive and geographic environment. In addition, the research discusses the obstacles to market growth and provides information on unexplored prospects that will promote company progress in the 2024-2030 forecast period.
Get a sample PDF of the report in your inbox within 24 hours: https://www.cognatelifesciences.com/sample-request/2071/
Major Major Players are:
IBM Watson, Google-Verily, Euretos, Trials.Ai, Pharmaseal, DEEP LENS AI, AiCure, LLC, Symphony AI, Intelligencia, Innoplexus, Phesi, Saama Technologies, Exscientia, GNS Healthcare
AI in Clinical Trials Market Overview:
Market Size and Overview:
According to the research report, the Global AI in Clinical Trials Market was valued at USD 2.18 Billion in 2023 and is projected to reach a market size of USD 8.27 Billion by 2030. The market is projected to grow with a CAGR of 21% per annum during the period of analysis (2024 - 2030)
Industry Overview:
Artificial intelligence (AI) has emerged as a pivotal tool for enhancing the operational efficiency of clinical trials, accelerating drug discovery and development, and reducing trial expenditures. It aids pharmaceutical and biotech enterprises in addressing diverse challenges encountered in clinical trials and the drug development process. The integration of AI-powered data and pattern recognition is essential for managing the extensive data involved in current therapeutic development. The anticipated rise in awareness regarding the advantages of AI-based clinical trials is expected to drive global revenue growth. Additionally, the utilization of wearable technology, coupled with AI methodologies, can monitor patients in real-time, providing a customized and continuous approach, thereby enhancing patient adherence and system reliability.
Factors contributing to market revenue growth encompass an upsurge in clinical studies, increased governmental and private initiatives to enhance healthcare facilities through the adoption of innovative AI technology and drugs. Nevertheless, obstacles such as high research and development costs, a shortage of skilled professionals, challenges in deploying intricate AI algorithms, and stringent government regulations on drug development may impede the market's revenue growth throughout the forecasted period.
Impact of Covid-19 on the Industry:
Prominent pharmaceutical entities are investing in AI-based technologies strategically to support drug development during and post-pandemic. AI solutions prove beneficial not only in evaluating drug development processes for various therapeutic applications but also in detecting COVID-19 and developing vaccines. The pandemic has redirected attention from traditional drug development towards the significance of AI-based solutions in enhancing clinical outcomes, cost reduction, and shortening clinical trial durations. Decentralized clinical trials (DCT) are gaining momentum in response to the shift towards virtual or telehealth-based trials in 2020. Notably, companies like Concrete, a provider of AI-based clinical trial solutions, have witnessed increased adoption of their solution for DCT cancer studies.
Market Drivers:
The integration of artificial intelligence (AI) will persist in advancing the industry, driving growth:
Factors such as increased AI penetration, growing acceptance of AI-derived tools among academia and pharmaceutical manufacturers, and supportive private and public sector initiatives for R&D across therapeutic domains propel the market for AI-based clinical trial solution providers. The industry's expansion is further facilitated by heightened awareness and the diverse services offered by AI in clinical trials. Major pharmaceutical corporations shifting from traditional drug development methods to technology-based strategies also contribute to industry growth.
Positive adoption of AI by numerous companies is evident:
The optimistic stance of these organizations towards deploying AI-driven tools in clinical trials and general medical applications is anticipated to contribute to the growth of the AI-based clinical trial solution provider market throughout the forecast period.
Market Restraints:
Reduced personal involvement leads to increased unemployment rates:
The rising adoption of artificial intelligence is associated with a surge in unemployment rates, impacting both skilled and unskilled labor.
Potential for defective diagnoses acts as a market restraint:
Despite technological advancements, reliance on AI is hindered by its ongoing development, making it less dependable compared to experienced medical professionals with years of expertise.
Get a Impressive Discount on corporate email id @ https://www.cognatelifesciences.com/discount-request/2071/
Market Segmentation are:
Segmented By Clinical Trial Phase (Phase-I, Phase-II, Phase-III); By Application (Oncology, Cardiovascular Diseases, Neurological Diseases or Conditions, Metabolic Diseases, Infectious Diseases, Others); By End User (Pharmaceutical Companies, Academia, Others); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)
AI in Clinical Trials insights, overview and deep study of factors are considered to have greater influence over future course of the industry such as market size, market share, different dynamics of the industry, AI in Clinical Trials market companies, regional analysis of the domestic markets, value chain analysis, consumption, demand, key application areas and more.
NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.
How will this report benefit potential stakeholders?
-Comprehensive assessment of all opportunities and risks in the AI in Clinical Trials market.
-The detailed study of business strategies for the growth of the AI in Clinical Trials market-leading players.
-Conclusive study about the growth plot of the AI in Clinical Trials market for forthcoming years.
-In-depth understanding of AI in Clinical Trials market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the AI in Clinical Trials market.
Any Questions? Feel Free To Enquire Here. Well put you on the Right Path @ https://www.cognatelifesciences.com/enquiry-request/2071/
What AI in Clinical Trials Market report offers:
1.AI in Clinical Trials Market share assessments for the regional and country-level segments
2.Market share analysis of the top industry players
3.AI in Clinical Trials Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
4.Strategic recommendations in key business segments based on the market estimations
5.Competitive landscape covering following points: Company Overview, Product Portfolio, Financial Performance, Recent Highlights, Strategies
COVID-19 has had a major impact on the world economy in addition to that on the public health. This particular pandemic had caused severe economic destruction and not a single country has been left unaffected. The virus has forced businesses around the globe to change the way they operate. This report gives an analysis of the COVID-19 aftermath on AI in Clinical Trials market.
Competitive Rivalry:
The report highlights vital details based on the leading players in the global Industrial AI in Clinical Trials market. It features their details such as product/business portfolio, market share, financial status, regional share, segment revenue, SWOT analysis, manufacturing base, capacities, production volume, major vendors, raw material sourcing strategies, organizational structure. Their latest corporate deals, joint ventures, mergers and acquisitions, product launches, and other brand promotions are other facts about the market players included in the report.
We also offer customization on reports based on specific client requirement:
1- country-level analysis for any 5 countries of your choice.
2- Competitive analysis of any market players.
3- 40 analyst hours to cover any other data points
Purchase this report now @ https://www.cognatelifesciences.com/buy-now/?id=2071&license_type=su
Finally, AI in Clinical Trials Market is a valuable source of guidance for individuals and companies in decision framework.
Contact Us:
Robin McKay
Client Partner Relations
USA/Canada(Toll Free): 1800-601-6071
Mail: sales@cognatelifesciences.com
Web: www.cognatelifesciences.com
About us :
Cognate Lifesciences is a specialized hub for all market research reports related to Lifesciences Market. Some of the sub domains covered by our team are Pharmaceuticals, Medical Devices and Supplies, Healthcare, Diagnostics, Biotech, Therapeutics, Healthcare IT etc. We offer syndicated/customized market research studies along with advisory and consulting services.
Get a sample PDF of the report in your inbox within 24 hours: https://www.cognatelifesciences.com/sample-request/2071/
Major Major Players are:
IBM Watson, Google-Verily, Euretos, Trials.Ai, Pharmaseal, DEEP LENS AI, AiCure, LLC, Symphony AI, Intelligencia, Innoplexus, Phesi, Saama Technologies, Exscientia, GNS Healthcare
AI in Clinical Trials Market Overview:
Market Size and Overview:
According to the research report, the Global AI in Clinical Trials Market was valued at USD 2.18 Billion in 2023 and is projected to reach a market size of USD 8.27 Billion by 2030. The market is projected to grow with a CAGR of 21% per annum during the period of analysis (2024 - 2030)
Industry Overview:
Artificial intelligence (AI) has emerged as a pivotal tool for enhancing the operational efficiency of clinical trials, accelerating drug discovery and development, and reducing trial expenditures. It aids pharmaceutical and biotech enterprises in addressing diverse challenges encountered in clinical trials and the drug development process. The integration of AI-powered data and pattern recognition is essential for managing the extensive data involved in current therapeutic development. The anticipated rise in awareness regarding the advantages of AI-based clinical trials is expected to drive global revenue growth. Additionally, the utilization of wearable technology, coupled with AI methodologies, can monitor patients in real-time, providing a customized and continuous approach, thereby enhancing patient adherence and system reliability.
Factors contributing to market revenue growth encompass an upsurge in clinical studies, increased governmental and private initiatives to enhance healthcare facilities through the adoption of innovative AI technology and drugs. Nevertheless, obstacles such as high research and development costs, a shortage of skilled professionals, challenges in deploying intricate AI algorithms, and stringent government regulations on drug development may impede the market's revenue growth throughout the forecasted period.
Impact of Covid-19 on the Industry:
Prominent pharmaceutical entities are investing in AI-based technologies strategically to support drug development during and post-pandemic. AI solutions prove beneficial not only in evaluating drug development processes for various therapeutic applications but also in detecting COVID-19 and developing vaccines. The pandemic has redirected attention from traditional drug development towards the significance of AI-based solutions in enhancing clinical outcomes, cost reduction, and shortening clinical trial durations. Decentralized clinical trials (DCT) are gaining momentum in response to the shift towards virtual or telehealth-based trials in 2020. Notably, companies like Concrete, a provider of AI-based clinical trial solutions, have witnessed increased adoption of their solution for DCT cancer studies.
Market Drivers:
The integration of artificial intelligence (AI) will persist in advancing the industry, driving growth:
Factors such as increased AI penetration, growing acceptance of AI-derived tools among academia and pharmaceutical manufacturers, and supportive private and public sector initiatives for R&D across therapeutic domains propel the market for AI-based clinical trial solution providers. The industry's expansion is further facilitated by heightened awareness and the diverse services offered by AI in clinical trials. Major pharmaceutical corporations shifting from traditional drug development methods to technology-based strategies also contribute to industry growth.
Positive adoption of AI by numerous companies is evident:
The optimistic stance of these organizations towards deploying AI-driven tools in clinical trials and general medical applications is anticipated to contribute to the growth of the AI-based clinical trial solution provider market throughout the forecast period.
Market Restraints:
Reduced personal involvement leads to increased unemployment rates:
The rising adoption of artificial intelligence is associated with a surge in unemployment rates, impacting both skilled and unskilled labor.
Potential for defective diagnoses acts as a market restraint:
Despite technological advancements, reliance on AI is hindered by its ongoing development, making it less dependable compared to experienced medical professionals with years of expertise.
Get a Impressive Discount on corporate email id @ https://www.cognatelifesciences.com/discount-request/2071/
Market Segmentation are:
Segmented By Clinical Trial Phase (Phase-I, Phase-II, Phase-III); By Application (Oncology, Cardiovascular Diseases, Neurological Diseases or Conditions, Metabolic Diseases, Infectious Diseases, Others); By End User (Pharmaceutical Companies, Academia, Others); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)
AI in Clinical Trials insights, overview and deep study of factors are considered to have greater influence over future course of the industry such as market size, market share, different dynamics of the industry, AI in Clinical Trials market companies, regional analysis of the domestic markets, value chain analysis, consumption, demand, key application areas and more.
NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.
How will this report benefit potential stakeholders?
-Comprehensive assessment of all opportunities and risks in the AI in Clinical Trials market.
-The detailed study of business strategies for the growth of the AI in Clinical Trials market-leading players.
-Conclusive study about the growth plot of the AI in Clinical Trials market for forthcoming years.
-In-depth understanding of AI in Clinical Trials market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the AI in Clinical Trials market.
Any Questions? Feel Free To Enquire Here. Well put you on the Right Path @ https://www.cognatelifesciences.com/enquiry-request/2071/
What AI in Clinical Trials Market report offers:
1.AI in Clinical Trials Market share assessments for the regional and country-level segments
2.Market share analysis of the top industry players
3.AI in Clinical Trials Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
4.Strategic recommendations in key business segments based on the market estimations
5.Competitive landscape covering following points: Company Overview, Product Portfolio, Financial Performance, Recent Highlights, Strategies
COVID-19 has had a major impact on the world economy in addition to that on the public health. This particular pandemic had caused severe economic destruction and not a single country has been left unaffected. The virus has forced businesses around the globe to change the way they operate. This report gives an analysis of the COVID-19 aftermath on AI in Clinical Trials market.
Competitive Rivalry:
The report highlights vital details based on the leading players in the global Industrial AI in Clinical Trials market. It features their details such as product/business portfolio, market share, financial status, regional share, segment revenue, SWOT analysis, manufacturing base, capacities, production volume, major vendors, raw material sourcing strategies, organizational structure. Their latest corporate deals, joint ventures, mergers and acquisitions, product launches, and other brand promotions are other facts about the market players included in the report.
We also offer customization on reports based on specific client requirement:
1- country-level analysis for any 5 countries of your choice.
2- Competitive analysis of any market players.
3- 40 analyst hours to cover any other data points
Purchase this report now @ https://www.cognatelifesciences.com/buy-now/?id=2071&license_type=su
Finally, AI in Clinical Trials Market is a valuable source of guidance for individuals and companies in decision framework.
Contact Us:
Robin McKay
Client Partner Relations
USA/Canada(Toll Free): 1800-601-6071
Mail: sales@cognatelifesciences.com
Web: www.cognatelifesciences.com
About us :
Cognate Lifesciences is a specialized hub for all market research reports related to Lifesciences Market. Some of the sub domains covered by our team are Pharmaceuticals, Medical Devices and Supplies, Healthcare, Diagnostics, Biotech, Therapeutics, Healthcare IT etc. We offer syndicated/customized market research studies along with advisory and consulting services.
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