Artificial Intelligence (AI) in Clinical Trials Market

The AI in clinical trials Market is projected to reach $4.8 billion by 2027 from $1.5 billion in 2022, at a CAGR of 25.6% during the forecast period. The growing need to curb clinical trials costs and reduce time involved in the drug development process, the rising adoption of cloud-based applications and services, and the impending patent expiry of blockbuster drugs are some of the key factors driving the growth of artificial intelligence in clinical trials market.

However, shortage of AI workforce and ambiguous regulatory guidelines for medical software and lack of data sets in this field are some of the factors expected to restrain the growth of AI in clinical trials market in the coming years.

Artificial Intelligence in Clinical trials Market Trend

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AI in Clinical Trials Market Size, Share and Dynamics

Role of AI in clinical trails:

Clinical trials are the backbone of medical research and help pharmaceutical and biopharmaceutical companies develop and commercialize new products. The majority of clinical trails are involved in the investigation of the safety and efficacy of a drug molecule. It takes more than ten years and billions of dollars in research and development to bring a single drug into the market. Atypically the success rate of these lengthy clinical trials is less than 10%. Clinical trials are the area of drug research that has most recently acknowledged and allowed beneficial disruption from AI. Clinical trial designs, patient cohort selection and recruitment, study site, investigator selection, patient monitoring, protocol adherence, and the outsourcing of necessary skills and talents are the critical elements for the success of any clinical trial. Through a greater range of data sources, such as electronic and medical health records, AI can automatically enable effective patient selection. It helps biopharma companies to identify qualified investigators as well in patient management by automated data capture and sharing data across systems. As more and more data are electronically available, it is natural that AI will play an increasingly important role in mining the data efficiently. AI has the potential to significantly improve a number of R&D domains, including the discovery of novel targets, the selection of drug candidates, the analysis of biometric data from wearable devices, and the prediction of the effects of drugs in patients with disease.

How and why AI workforce shortage is important retraining factor holding back the growth of the market?

AI is a complex system, and companies require a workforce with specific skill sets to design, manage, and implement AI systems. Personnel dealing with AI systems should be familiar and aware of technologies such as machine intelligence, deep learning, and other AI technologies. Additionally, integrating AI technologies into existing systems is a challenging task that necessitates substantial data processing in order to replicate human brain behavior. Even slight errors might cause system failure and have a negative impact on the desired outcome. The absence of professional standards and certifications in AI/ML technologies is restraining the growth of AI

What are the emerging markets for AI in clinical trials?

Emerging economies such as India, China, and countries in the Middle East are expected to offer potential growth opportunities for players operating in the AI in clinical trials market. In most of these countries, the demand for pharmaceuticals is expected to increase significantly, owing to the rising incidence of chronic and infectious diseases, increasing income levels, and improving healthcare infrastructure. As a result, these markets are very attractive for companies whose profit margins are affected by stagnation in mature markets, the patent expiration of drugs, and increasing regulatory hurdles.

“Deep learning technology segment accounted for the largest share of the global AI in clinical trials market for machine learning technology”

Based on type, the machine learning technology segment further segmented into deep learning, supervised learning. and other machine learning technologies. Deep learning segment accounted for the largest share of the market in 2021, and this segment also expected to grow at the highest CAGR during the forecast period. Deep learning helps in managing data in a consistent manner, saves time, reduces the chances of errors in the clinical trials process, and reduces the workload for end users are some of the key factors for the market growth of this segment.

“Services segment expected to hold the largest share of this market in 2022”

Based on offering, the AI in clinical trials market is segmented into software and services. The services segment expected to account for the largest market share of the global AI in clinical trials services market in 2022, and also expected to grow at the highest CAGR from 2022 to 2027. The benefits associated with AI services and the strong demand for AI services among end users are the key factors driving the growth of this market segment.

The infectious disease segment expected to grow at the highest CAGR during the forecast period”

On the basis of application, the AI in clinical trials market is segmented into neurological diseases and condition, cardiovascular diseases, metabolic diseases, infectious disease, immunology diseases, and other applications. Informtious disease segment form the fastest-growing application segment in this market, owing to the increasing number of clinical trails for vaccine and drugs for covid-19 and other infectious disease and rising investment in R&D for infectious diseases. On the other hand, The oncology segment accounted for the largest share of the market in 2021, owing to the increasing demand for effective cancer drugs and a large number of drug trials in the field of oncology is contributing to the adoption of AI-enabled technologies in this application area. Also, many players are developing and adopting oncology-based AI tools for clinical trials, thus impelling the segment growth.

North America accounted for the largest share of the global AI in clinical trials market in 2021.

The AI in clinical trials market is segmented into four key regions—North America, Europe, APAC, and the Rest of the World (RoW). North America, being the early adopter of advanced technologies, has captured the largest share of the AI in clinical trials market in 2021, followed by Europe and APAC. It is also projected to register the highest CAGR. Currently, North America is home to a number of prominent AI technology providers as well as leading start-up firms. Other market drivers include the well-established pharmaceutical industry, high investments in the biosimilars and biologics segment, increasing R&D expenditure, the large pool of clinical trial service providers in the region, and the strong presence of leading pharmaceutical companies such as Pfizer (US), Abbott Laboratories (US), and Johnson & Johnson (US) in the region.

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Some of the key players are IBM corporation, Exscientia, Saama Technologies, Unlearn.AI, Inc., BioSymetrics, Euretos, Trials.Ai, Insilico Medicine, Ardigen, Pharmaseal, Koninklijke Philips N.V., Intel, Numerate, AiCure, LLC., Envisagenics, NURITAs, BioAge Labs, Inc., Symphony AI., Median Technologies, Innoplexus, Antidote Technologies, Inc., GNS Healthcare, Koneksa Health, Halo Health Systems, and DEEP LENS AI. These players are increasingly focusing on collaboration, partnership, acquisition and product/services upgrade to expand their product offerings and presence in the global market.

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Scope of the Report

The study categorizes the AI in clinical trials market into the following segments and subsegments:

AI in clinical trials market, By Offering

• Software
  • Phase I
  • Phase II
  • Phase III
• Services
  • Phase I
  • Phase II
  • Phase III

AI in clinical trials market, By Technology

• Machine Learning
• Deep Learning
• Supervised Learning
• Other Machine Learning Technologies
• Other Technologies

AI in clinical trials market, by Application

• Oncology
• Nuerological disease and condition
• Cardiovascular diseases
• Metabolic diseases
• Infecstious disease
• Immunology disease
• Other Applications

AI in clinical trials market, By End User

• Pharmaceutical & biotechnology companies
• Contract research organizations
• Other end users

AI in clinical trials Market, By Region,

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
• ROW

Recent Developments:

• In September 2020, Parexel International acquired the Natural Language Processing (NLP) technology assets. It transferred key personnel of Roam Analytics, Inc., a healthcare software company, thereby strengthening Parexel’s commitment to leveraging Artificial Intelligence (AI) and Machine Learning (ML) to drive new drug development.
• In February 2021, Exscientia (UK) and the University of Oxford collaborated to develop treatments for Alzheimer's disease
• In January 2022, Exscientia (UK) and sanofi (France) establish strategic research collaboration to develop ai-driven pipeline of precision-engineered medicines, leveraging Exscientia’s end-to-end AI-driven platform utilizing actual patient samples. Collaborative efforts aim to accelerate drug discovery and improve clinical success.

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