Research Nester published a report titled “AI-based Clinical Trials Solution Providers Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global AI-based clinical trials solution providers market in terms of market segmentation by application, clinical trial phase, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global AI-based clinical trials solution providers market is anticipated to grow by a CAGR of ~22% over the forecast period, i.e., 2022 – 2031. The market is segmented by application into oncology, cardiovascular diseases, metabolic diseases, neurological diseases and others. Out of these, the oncology segment is anticipated to garner the largest revenue and further grow significantly in the coming years. Factors such as the increasing prevalence of cancer and the rising number of drug trials support the growth of the segment market.
The global AI-based clinical trials solution providers market is estimated to garner significant revenue during the forecasted period on account of the increasing initiatives by various government and private organizations for therapeutic areas for clinical trials and increasing prevalence of cancer.
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Geographically, the global AI-based clinical trials solutions providers market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these, the North America region is projected to grow at the highest CAGR throughout the forecast period. This can be attributed to the increasing number of AI-based startups in the region. Additionally, increasing awareness for AI-based clinical trials also supports the market growth in the North America region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Number of Cancer Patients to Drive Market Growth
According to the World Health Organization, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or almost one in six deaths. Breast, lung, colon, rectum, and prostate are the most common type of cancer. Every year, approximately 400,000 children develop cancer globally. Thus, increasing prevalence of cancer rises the need for new and innovative drugs for cancer treatment which drives the market growth.
However, strict regulations, privacy related concerns and lack of AI implementation framework are a some of the key restraints to the global AI-based clinical trials solution providers market.
This report also provides competitive scenario of some of the key players of the global AI-based clinical trial solution providers market which includes company profiling of Unlearn.AI, Inc., Saama Technologies, Inc., Biosymetrics, Phesi, Deep6.ai, Innoplexus, Mendel.ai, Intelligencia, Median Technologies, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global AI-based clinical trials solution providers that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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