Data Bridge Market Research analyses that the artificial intelligence (AI)-based clinical trials market which was USD 1.3 billion in 2021, would rocket up to USD 5.55 billion by 2029, and is expected to undergo a CAGR of 19.90% during the forecast period 2022 to 2029.
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Data Bridge Market Research analyses that the artificial intelligence (AI)-based clinical trials market which was USD 1.3 billion in 2021, would rocket up to USD 5.55 billion by 2029, and is expected to undergo a CAGR of 19.90% during the forecast period 2022 to 2029.
Some of the major players operating in the Artificial Intelligence (AI)-based clinical trials market are:
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Phesi (India)
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CONSILX (Singapore)
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DEEP LENS Inc. (U.S.)
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Unlearn.AI, Inc. (U.S.)
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Saama Technologies, LLC (U.S.)
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Antidote Technologies, Inc. (U.K.)
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Innoplexus (Germany)
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Mendel.ai (U.S.)
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Median Technologies (France)
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Symphony AI (U.S.)
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BioAge Labs, Inc. (U.S.)
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AiCure (U.S.)
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Halo Health Systems (U.S.)
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Market Overview
Artificial intelligence can be used to identify disease, provide healthcare services, and even develop new treatments, while improving clinical trials. The scale and speed of AI are significantly superior to any system that depends just on human activity. In many ways, this will be the biggest problem moving forward because we haven't yet reached an AI level that can run totally autonomously.
Artificial Intelligence (AI)-based Clinical Trials Market Dynamics
Drivers
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Increasing research and development activities
In recent years, numerous organizations from the public and private sectors have increased their efforts to assist various R&D activities related to therapeutic fields. In the coming years, it is projected that this aspect would open up new growth opportunities in the market for for AI-based clinical trials.
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Technological developments
Several companies in the global market for AI-based clinical trials are making significant investments in R&D. The relocation is helping them with the tasks related to new product development and, ultimately, new product launch. The market for providers of AI-based clinical trials is anticipated to grow at a promising rate in the years to come as a result of these factors.
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Growing usage of AI-based platform
The growing usage of AI-based platforms is driving the market for AI-based clinical trials to enhance the efficiency and efficacy of trials at various stages. Some of the other reasons boosting the market expansion include the supportive activities by the governmental and private sectors for various therapeutic areas. Additionally, the market is being supported by the growing awareness of AI's applications in clinical trials, such as drug trial design, better patient selection, location selection, patient monitoring, etc.
Opportunities
AI can also be used to lessen the bias in medical data. For instance, Genentech and Stanford University worked together to develop an open-source AI system to combat bias in drug studies. Additionally, prominent pharmaceutical companies are heavily incorporating AI-based technologies in clinical trials, which is helping the market growth. This is owing to the trend of moving away from old procedures and toward technology-based approaches.
Restraints/Challenges
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On the other hand, the high cost associated with drug development and distribution will obstruct the market's growth rate.
This Artificial Intelligence (AI)-based clinical trials market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Artificial Intelligence (AI)-based clinical trials market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Highlights of TOC :
Chapter 1: Market overview
Chapter 3: Regional analysis of the Global Artificial Intelligence (AI)-based Clinical Trials industry
Chapter 4: Global Artificial Intelligence (AI)-based Clinical Trials Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
Get the Full Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-artificial-intelligence-ai-based-clinical-trials-market
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