AI-Based Clinical Trial Solutions For Patient Matching Market on Hit USD 1.90 Bn, Globally, by 2030 at 27.7% CAGR

2022-11-21

临床研究

According to Nova one advisor, the global AI-based Clinical Trial Solutions For Patient Matching market size is expected to hit around USD 1.90 billion by 2030 from valued at USD 360.9 million in 2022 and growing at a CAGR of 27.7% from 2022 to 2030. Get the Free Sample Copy of Report@ Key Takeaways: The global AI-based clinical trial solutions for patient matching market size was valued at USD 230.6 million in 2021, owing to the increasing prevalence of chronic diseases and growing adoption of AI-based technologies in the clinical trial process In 2021, based on therapeutic applications, oncology accounted for the highest revenue share of 23.2%. The growing penetration rate of cancer throughout the world is leading to an increase in the number of clinical trials and thus, impacting the market positively In 2021, pharmaceutical companies accounted for the highest revenue share of 66.0% based on end-use. The growth is attributed to the rising usage of AI-based solutions for clinical trials North America dominated the AI-based clinical trial solution for patient matching with 43.8% of the total share in 2021, owing to the presence of key players, increasing prevalence of lifestyle disorders, growing elderly population, and growing advancement in the healthcare sector The major factors attributing the industry growth are the increasing worldwide incidences of chronic diseases, rising investment in the expansion of the healthcare sector, and the introduction of new technologies. The rising adoption of artificial intelligence(AI)-based technologies for conducting clinical trials and the increasing number of start-ups in this field are also opening new opportunities for the market. For instance, in February 2022, in their seed funding, Qureight raised USD 1.50 million for their AI-based platform which reduces the timeline for the clinical trials process and further helps in reducing the cost of medicine development. Major bio-pharma giants are implementing advanced technological solutions for better patient management and clinical trial results. These platforms further reduce clinical trial cycle time & cost, thereby increasing productivity & accuracy of the trial development. AI-based solutions incorporate natural language processing (NLP) algorithms which enhances the match rate between clinical trials and patient enrollment. For instance, AI-enabled clinical trial solutions used in matching patients have increased patient recruitment in lung cancer trial studies by 58.4%. Such advantages are further driving the market growth. Based on therapeutic application, oncology held the largest market share 23.2% in 2021 owing to the rise in the prevalence of cancer all over the globe and rising initiatives to develop therapeutic solutions for oncology. However, the cardiovascular disease segment is expected to show the fastest growth rate during the forecast period owing to increasing cases of heart attack, stroke, and others. Based on end users, pharmaceutical companies accounted for the highest revenue share of 66.0% owing to the growing focus on better development of bio-markers and diagnostics using AI-based technologies to identify the new medicine target and simplify the process of development of medicine and clinical trials by key players of pharmaceutical companies. Based on the region North America held the largest market share of 43.8% in 2021. However, Asia Pacific is expected to show the fastest growth rate during the forecast period due to the increasing penetration of AI-based clinical technologies and supportive government initiatives for adopting AI. Immediate Delivery Available | Buy this Premium Research Report@ Report Scope of the AI-based Clinical Trial Solutions For Patient Matching Market Report Coverage Details Market Size USD 1.90 Billion by 2030 Growth Rate CAGR of 27.7% from 2022 to 2030 Largest Market North America Fastest Growing Market Asia Pacific Base Year 2021 Forecast Period 2022 to 2030 Segments Covered Therapeutic application, end-use and Region, Companies Mentioned Unlearn.AI, Inc.; Antidote Technologies; Inc.; Deep6.ai; Mendel.ai; Aris Global; Deep Lens; AmerisourceBergen Corporation; Koneksa; Microsoft Corporation; GNS Healthcare Therapeutic Application Insights In 2021, based on therapeutic applications, oncology accounted for the highest revenue share of 23.2%. The growing incidence rate of cancer throughout the world is leading to an increase in the number of clinical trials and is thus, impacting the market positively. Moreover, leading pharma companies are teaming up with AI developing companies to adopt AI-based oncology tools designed for the development process of medicines. For instance, in January 2022, Deep Lens and Hematology-Oncology Associates of Central New York came into a partnership that will focus on the clinical trial program expansion of the medical trial program. The VIPER by Deep Lens will be utilized to classify the eligible patients for clinical trials by pre-screening all patients. The development of new technologies further fuels segment growth. For instance, in June 2022, Survivor Net launched an AI-based clinical trial finder that connects patients who are in need with groundbreaking cancer research. Besides, the cardiovascular disease (CVD) segment is expected to reveal the highest CAGR during the forecast period owing to the rising prevalence of CVD throughout the world. As per the data of NIH’s, “New global data analysis highlights”, February 2021, the increasing percentage of the global population and geriatric population has led to substantial growth of CVD cases. This has resulted in major companies focusing on the development of new clinical solutions for cardiovascular diseases. AI is highly being adopted for R&D purposes and improving clinical trial solutions for the analysis of CVD with a better approach. Thus, driving the segment’s growth. In June 2022, Bristol Myers Squibb signed a deal of USD 80.0 million with AI developer Owkin to design and optimize their CVD medicine trials. The partnership will emphasize adopting ML technologies to optimize their clinical trial process. End-Use Insights In 2021, based on end-use, pharmaceutical companies accounted for the highest revenue share of 66.0% owing to the growing focus on better development of the bio-markers and diagnostics using AI-based technologies to identify the new medicine target and simplify the process of development. For instance, Linguamatics offered by IQVIA is NLP-based software that provides text mining solutions for pharma companies. The growing pharmaceutical industry due to the increasing penetration of chronic diseases and the growing demand for personalized medicine is further fueling the market growth. In addition, a collaboration between pharmaceutical giants and AI vendors for implementing AI technology intended for the overall medicine discovery process is further impacting the market positively. However, the others segment is projected to have the fastest CAGR in the forecast period. The growth can be attributed to the rising adoption of AI-based solutions by government agencies and CROs as these solutions reduce the cost of clinical trials by enhancing the quality of data, increasing compliance & retention of patients, and identifying the effectiveness of the treatment more efficiently. Furthermore, growing investment by the government and non-government agencies for the development of drugs and technology-driven clinical trials is further driving market growth. Regional Insights North America dominated the global AI-based clinical trial solutions for patient matching market and accounted for a revenue share of 43.8% in 2021. The growth of the market can be largely attributed to the presence of key players within the region and a growing number of AI-based startups. The region also has a large number of registered clinical trials which impacts the market positively. As per the data of the World Health Organization (WHO), from 1999-2021 U.S. conducted the highest number of clinical trials, i.e. about 157,618 trials. The growing interest in AI-based technologies and rising government initiatives for the adoption of AI-based technologies further fuel the region’s growth. However, in the Asia Pacific, the market is expected to show the fastest CAGR during the forecast period owing to increasing penetration of AI-based clinical technologies and supportive government initiatives for adopting AI. A growing number of clinical trials within the region also impacts the market positively. As per the 2019’s data of NIH, Asia Pacific is becoming the hub for conducting cost-effective clinical trials. During the past 10 years, there has been a 7-fold increase in the registration of clinical trials. This is mainly due to the availability of highly skilled talents at lower cost, the presence of a large patient population, and the availability of competitive recruitment rates. Some of the prominent players in the AI-based Clinical Trial Solutions For Patient Matching Market include: Unlearn.AI, Inc. Antidote Technologies, Inc. Deep6.ai Mendel.ai Aris Global Deep Lens AI AmerisourceBergen Corporation Koneksa Microsoft Corporation GNS Healthcare Segments Covered in the Report This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global AI-based Clinical Trial Solutions For Patient Matching market Therapeutic Application Oncology Cardiovascular Diseases Neurological Diseases or Conditions Metabolic Diseases Infectious Diseases Others End-use Pharmaceutical Companies Academia Others By Region North America Europe Asia Pacific Latin America Middle East & Africa Full Report is Ready | For Purchase Inquiry@ You can place an order or ask any questions, please feel free to sales@novaoneadvisor.com| +1 9197 992 333 Blog: Blog: Blog: