Global AI in Clinical Trial Market By Offerings (Software, Services), By Technology (Machine Learning, Deep learning, Supervised), By Application (Cardiovascular, Metabolic, Oncology, Infectious diseases), By End-Use (Pharmaceutical, Biotechnology, CROs), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2024-2033

Report Overview

The global AI In Clinical Trial Market was valued at the USD 1.8 Billion in 2023 and is projected to register a substantial growth of the USD 22.3 Billion by 2033, with a 28.6% CAGR.

AI in Clinical Trial market encompasses creation, application, and commercialization of AI technologies, togetherly aimed at enhancing the efficiency, precision and efficacy of clinical research. Being cost and time intensive, clinical trial account for nearly 50% of the time and expense during the process of drug development. Many a times, clinical trials encounter failure due to inadequate study design, improper subject stratification, high participant attrition and incomplete patient recruitements. Thus, the major market players in pharmaceutical industries are exploring solutions to avoid failures and streamline clinical trial stages through incorporation of AI solutions.

AI based drug development is one such innovative solution, revolutionizing traditional methods, especially in clinical trials. Large volumes of data can be integrated and analyzed aided by artificial intelligence, allowing the trial sponsors to optimize future research activities. Thus, the ability of AI to enhance and refine the entire clinical drug development process drives the market for AI in clinical trials to a large extent. In addition, the growing investments of investors in AI based clinical trials further thrust the market growth during the projection period.

• A premier CRO firm, Accenture Ventures and other investors made a strategic $2.2 million investment in QuantHealth, which is an AI based clinical trial design startup that mimics clinical trials .

Key Takeaways

• Market Size: AI In Clinical Trial Market was valued at the USD 1.8 Billion in 2023 and is projected to register a substantial growth of the USD 22.3 Billion by 2033.
• Offering Analysis: A largest market share of 61.3% is held by services segment.
• Technology Analysis: Deep learning segment accounts 54.7% market share in 2023.
• Application Analysis: The oncology segment to dominate 45.9% market share.
• End User analysis: pharmaceutical companies, allow them to procure a measurable market share of 65.8% in the year 2023
• Regional Analysis: North america region dominate 31.5% market share in 2023.
• By offering analysis, the market for AI in clinical trial is majorly contributed by services segment commanding a dominant position in the market.
• Based on technology, deep learning segment withheld an absolute large market share in the year 2023.
• Depending upon applications, AI played a pivotal role in oncology segment owing to rising prevalence of cancer across the globe.
• By end use, pharmaceutical companies leads the global AI in clinical trial market as AI assists these companies to carry major drug development operations with minimal time.
• The rising demand for AI solutions in pharmaceutical industries leads to more sophisticated patient outcomes, driving the growth of the market in the recent years.
• North America owing to the presence of major market players and high adoption of AI technologies, dominates the market in 2023.

Offering Analysis

Service segment held an impressive market share of 61.3% in 2023

Based on offerings, the market is broadly categorized into software and sevices segment. A largest market share of 61.3% is held by services segment, dominating the AI in clinical trial market in the year 2023. Distinctive requirement and goals of various clinical trials and healthcare institutions are met by virtue of service segment providing customized solutions. The segment provides satisfactory outcomes to the stakeholders by negotiating regulatory environment around clinical trials, guaranting that AI applications are in accordance with relevant healthcare laws and business norms.

Technology Analysis

Rising demand for innovatory data analytics leads the deep learning segment

Depending upon the technology analysis, the market is fragmented into machine learning, deep learning and supervised segments. A splendid market share of 54.7% is apprehended by deep learning segment, overshadowing the AI in clinical trials market in the year 2023. The dominance of deep learning segment gets stronger with the rising ultimatum for innovatory data analytics and growing personalized healthcare. Being a subset of machine learning, deep learning allow  processing and interpreting convulated datasets, making it appropriate for complexities of clinical trial data.

In addition, the segment enables more accurate diagnostics, patient compartmentalization and predictive modelling, by analyzing abundant amount of data such as medical images, genomic data, and patient records. AI powered clinical trial not only assists drug discovery but is also used for testing the discovered molecules in pre-clinical animals or invitro models, i.e., AI is used in around 50-62% of the entire value chain of drug development.

Thus, the excellence of the segment is anticipated to persist, significantly driving the clinical trials and treatment optimization.

Application Analysis

Oncology segment pulls the global AI in clinical trial market forward

The AI in clinical trial market is bifurcated into Cardiovascular, metabolic, Oncology and Infectious diseases segments, based on its applications. Artificial intelligence being highly adopted to diagnose and treat several types of cancers, leads the oncology segment to dominate the AI in clinical market, capturing a prominent market share of 45.9% in the year 2023. The dominance of the segment is highly attributed to rising prevalence of cancer globally coupled with hefty number of drug trials conducted in the oncology field.  In addition, the major industrial players are engrossed in development and adoption of oncology based AI tools for clinical trials.

To exemplify, a collaboration was held between Deep Lens and Hematology-Oncology Associates of Central New York with the aim to expand drug trial program. VIPER by Deep Lens assisted to identify qualified patients by pre-screenig them for the purpose of clinical trials.

End User Analysis

Pharmaceutical firms are the prominent end users of artificial intelligence

Based on end use, the market is fragmented into Pharmaceutical companies, Biotechnology companies and Contract Research Organizations (CROs) segments. The highest use of AI algorithms by pharmaceutical companies, allow them to procure a measurable market share of 65.8% in the year 2023. AI significantly assist the pharmaceutical companies to scrutinize large amount of data, thereby accelerating medication development process enabling pattern recognition and optimization of clinical trials. In addition, there is high adoption of AI by pharmaceutical companies as it allow to detect and assuage possible fortuity associating the clinical studies.

Key Segments

By Offering

• Software
• Services

By Technology

• Machine learning
• Deep learning
• Supervised

By Application

• Cardiovascular
• Metabolic
• Oncology
• Infectious diseases

By End User

• Pharmaceutical companies
• Biotechnology companies
• Contract Research Organizations (CROs)

Driving Factors

Rising demand of AI tools in pharmaceutical firms and rising investments

The AI tools plays a pivotal role in ameliorating the efficacy and accuracy of testing, optimizing clinical trial outcomes and and acceleration of drug development in pharmaceutical companies. There comes more accuracy in clinical data analysis, ease of trial design, enhancement in patient enrollment and retention, cost and time reduction, and personalized medicines aided by AI software in clinical trial.

Stakeholders have a keen interest in pharmaceutical firms by virtue of the ability of AI to automate and streamline laborious tasks, identify patterns and trends in complex datasets and improve decision making process, rising the ultimatum of AI solutions in pharma companies. In addition, the rising investment from major market players is also helping the market to grow on an amazing scale.

• In January 2024, Accenture via its Accenture Ventures invested in an AI-powered clinical trial designing business,”Quant health”, that conduct clinical trials in the cloud, allowing the pharma and biotech firms to develop treatments for patients rapidly and at affordable price.
• An investment of the USD 23.9 million was received by Antidote Technologies to expand its digital patient engagement programs coupled with clinical trial recruitement services.

Market Restraints

High cost can be constraining

The high cost of adopting AI in clinical trial pocedures can be prohibitive for many small scale firms. This is mainly due to enoumous cost required for improving infrastructure, acquisition of technology and development of software. The specialized AI tools needed for data analysis, predictive modeling in clinical trials and patient recruitment are expensive to develop and implement.

The cost is escalates further as these advance AI applications frequently need cooperation from data scientists, healthcare providers and technology specialists. Thus, this significantly constrains the adoption of AI tools in clinical trial market.

Compliance with stringent regulatory guidelines

AI applications in clinical trials has to comply with stringent regulations in order to know AI systems are appropriately adhering to the criteria provided by regulatory authorities. Thus, this causes delay in the creation and application of AI solutions for clinical trials, thereby limiting its use in the market.

Opportunities

Govenrment initiatives creates lucrative opportunities for market growth

There is an escalated demand for AI based technologies, tools and solutions due to heightened government support and stringent regulations related to clinical trials. In addition, there is rising recognition of clinical trials by administrations of numerous emerging and emerged nations for encouraging patient participation. This creates tremendous opportunities for market players to flourish and create anundant revenues during the projection period.

For instance, with the aim to accelerate development of new drug candidates for hospitalized COVID-19 patients, the UK government a clinical trial program, “ACCORD”-The Accelerating COVID 19 Research and Development Platform.

Latest Trends

Real world Data Analysis: AI techniques such as machine learning (ML) and natural language processing(NLP) are playing a pivotal role in analyzing and extracting conclusions from various datasets such as real world data from wearable devices, social media platforms and electronic health records. Thus this allow a panoramic understanding of patient pool and their responses towards treatments.

Predictive Analytics: For prediction of patient recruitement rates, identification of potential risks and optimization of trial protocols, AI algortihms are highly adopted for predictive analytics. Thus helping to make more accurate predictions leading to more efficient clinical trials.

Impact of Macroeconomic factors

The demand for AI solutions is significantly influenced by various important factors such as increasing disease prevalence, healthcare priorities, and demographic shifts, leading to an escalating demand for innovative technologies, aiming to enhance effectiveness of clinical research.

The accessibility to heathcare data and expertise obligatory for AI execution can be severely affected by the economic incongruity across the countries. Investors can decline their investments due to economic downturns leading to reduced fundings for startups and research projects within the healthcare settings. Thus, these facets leads to slowing down the development and adoption of AI technologies.

Regional Analysis

North America came up as a frontrunner in the global AI in clinical trial market

Being a home to numerous AI technology providers as well as leading start up firms, North America overshadowed the global AI in clinical trial market capturing a remarkable market share of 31.5% in the year 2023. The regions’ prominence is reflective of the well established pharmaceutical industries such as Abbott Laboratories, Johnson and Johnson and Pfizer, escalating research and development spendings, large pool of clinical trial service providers and enhanced investments in biosimilars and biologics area in the region.

For instance, bfLEAP, a proprietary AI platform was developed by a U.S based startup, ‘Bullfrog AI’, enabling precision medicine.

Furthermore, a fastest growth rate of 31.5% is anticipated to register by Asia-Pacific, owing to increasing penetration of AI based tools combined with suitable government initiatives with the aim to adopt AI in diverse healthcare fields. In addition, Asia is witnessing elevating enrolments for clinical trials in comparison with Europe and North America, owing to the existence of huge patient pool and low trial cost.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Market Players Analysis

The key players in the market have focused on strategic partnerships & product innovation. They are also adopting strategies like mergers & acquisitions as well as product & service launches. For instance, a collaborative agreement was established between Datavant and Saama Technologies aiming to map patient journeys across diverse real world and clinical datasets, employing Saama’s Life Science Analytics Cloud.

Market Key Players

• Phesi
• Intelligencia
• DEEP LENS AI
• Halo Health Systems
• Pharmaseal
• Koneksa Health
• BioSymetrics
• Google-Verify
• IBM Watson
• Symphony AI
• BioAge Labs, Inc
• Ardigen

Recent Developments

• In August 2023: A collaboration was established between texas Tech University Health Sciences Center with Deep 6 AI with the aim to launch an AI program for clinical trials.
• In July 2023: Phase II clinical trial was initiated by Insilico Medicine to evaluate first fully AI designed drug, INSO18_055, for the treatment of idiopathic pulmonary fibrosis.

Report Scope