Global AI-based Clinical Trial Solutions for Patient Matching Market Size Worth Reach USD 1,969 Million By 2030, at 27.2% CAGR: Polaris Market Research

NEW YORK, Nov. 7, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "AI-based Clinical Trial Solutions For Patient Matching Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Application; By End-Use (Pharmaceutical Companies, Academia, Others); By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research report, the global AI-based clinical trial solutions for patient matching market size was valued at USD 230.92 million in 2021 and is expected to reach USD 1,969 Million By 2030, growing at a CAGR of 27.2% during the forecast period.

What is AI-based Clinical Trial Solutions for Patient Matching? How Big is AI-based Clinical Trial Solutions for Patient Matching Market Size?

• Overview

Artificial intelligence or AI has the potential to execute clinical trials, accelerate drug discovery and improve trial success rates. AI has become an essential part of a trial because even a single failed trial ruins not only the investment into the trial itself but also the diagnosis development costs. AI for automating processes in clinical trials is one of the most important AI applications for the pharmaceutical industry.

Patient matching is another way through which AI can help in patient recruitment. AI-based clinical trial solutions can alert doctors about potential trials. It has ability to enhance patient enrollment and incorporate huge amounts of health data from various sources, such as electronic medical records (EMRs), medical imaging, and omics data. Increasing number of clinical and biological research using digitalization drives AI-based clinical trial solutions for patient matching market size.

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Key Highlights of the Report

• Market tendencies that involve product and technological analysis, drivers and constraints, PORTER's five forces analysis
• In-depth analysis of segments and sub-segments with regional market
• Competitive landscape and strategies of key players
• Recent trends and developments which involve growth opportunities
• Future outlook and prospects for the market
• Reliable industry value chain and supply chain analysis
• Import-Export policies regarding the products/services in the market

Some of the Top Market Players Are:

• Unlearn.AI, Inc.
• Antidote Technologies Inc.
• Deep6.ai
• Mendel.ai
• Aris Global
• Deep Lens
• AmerisourceBergen Corporation
• Koneksa
• Microsoft Corporation
• GNS Healthcare

To Know More About Addition Information on Key Players, Download a Report PDF Brochure

Growth Driving Factors

• Rising adoption of AI-powered technology solutions by pharmaceutical firms to push the market

The inclusion of AI-based solutions in conducting and managing clinical trials is boosting industry growth. AI reduces clinical trial cycle time and cost and improves accuracy and productivity of the trial development. These benefits propel AI-based clinical trial solutions for patient matching market demand. Also, the rising number of public and commercial initiatives to promote the adoption of AI-powered technology solutions in clinical trial examinations is boosting the industry growth.

Moreover, other AI-based clinical trial solutions for patient matching market trends include the growing adoption of AI-based platforms and solutions by pharma and biotech companies as well as by businesses to improve patient recruitment, identification, engagement, and real-time monitoring. The market is also booming owing to the increasing healthcare data volumes and dataset complexity. In addition, developments in computer power, rising collaborations, and reduced hardware prices are the aspects fueling the market expansion. 

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Recent Developments

• In September 2022, The NIH introduced the Bridge2AI program, which will have participants from many groups and focus on producing various tools, resources, and data for developing an AI strategy.
• In April 2021, Deep Lens AI and Oregon Oncology Specialists announced a collaboration to deploy a Deep Lens AI-powered clinical trial solution in identifying eligible patients for clinical trial studies.

Segmental Analysis

• Oncology held the largest revenue share in 2021

Based on therapeutic application, oncology accounted for the highest AI-based clinical trial solutions for patient matching market share in 2021. This revenue growth can be attributed to the increasing number of clinical trials due to the growing cases of cancer worldwide, positively affecting the industry. Major pharmaceutical firms are also collaborating with AI development firms to integrate AI-based cancer technologies for pharmaceuticals. Rapid technology developments further boost the segment's growth.

• Pharmaceutical Companies witnessed the biggest market share in 2021

Based on end-use, pharmaceutical firms held the highest revenue share in 2021 due to a growing focus on developing biomarkers and diagnostics using AI-based technologies to explore drug targets and organize the development cycle. For instance, the text mining program Linguamatics from IQVIA offers NLP-based solutions for pharmaceutical firms. Also, the factors, including the increasing prevalence of chronic diseases and the surge in demand for tailored therapy, are encouraging the pharmaceutical companies to grow, thus accelerating AI-based clinical trial solutions for patient matching industry growth.

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AI-based Clinical Trial Solutions for Patient Matching Market: Report Scope

Geographic Overview

• North America is expected to dominate the market with significant growth during forecast period

Based on geography, North America is anticipated to witness the biggest revenue share owing to the prevalence of key companies and the rise in the number of startups using AI in the region. Many registered clinical studies also propel AI-based clinical trial solutions for patient matching market sales. As per data from the World Health Organization (WHO), totaling roughly 157,618 studies were conducted by the United States between 1999 and 2021.

Moreover, the Asia Pacific region is predicted to generate the fastest CAGR over the foreseen period because of a surge in the use of clinical technologies based on AI and pro-AI government efforts. The NIH statistics from 2019 show that Asia Pacific is developing as a center for conducting clinical trials at a low cost.

Browse the Detail Report "AI-based Clinical Trial Solutions For Patient Matching Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Application; By End-Use (Pharmaceutical Companies, Academia, Others); By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/ai-based-clinical-trial-solutions-for-patient-matching-market

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Polaris Market Research has segmented the AI-based clinical trial solutions for patient matching market report based on therapeutic applications, end-use and region:

By Therapeutic Application Outlook

• Oncology
• Cardiovascular Diseases
• Metabolic Diseases
• Neurological Diseases or Conditions
• Infectious Diseases
• Others

By End-Use Outlook

• Pharmaceutical Companies
• Academia
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

Queries Resolved in this report

• What are the trends in the market?
• What are projections of Industry
• What are the factors contributing to the market growth?
• How big is the opportunity for the industry?
• Who are the major players operating in the market?
• Which segment holds the maximum share of the market?
• What is the total market value?
• Which region will provide more business opportunities for the market over the coming years?

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About Polaris Market Research

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SOURCE Polaris Market Research