AI-based Clinical Trial Solutions For Patient Matching Market Progressing At A CAGR Of 26.7% From 2022 to 2030Posted by Neha Bora on August 12th, 2023 San Francisco, 11 Aug 2023: The Report AI-based Clinical Trial Solutions For Patient Matching Market Size, Share & Trends Analysis Report By Therapeutic Application, By End-use, By Region, And Segment Forecasts, 2022 - 2030 The global AI-based clinical trial solutions for patient matching market size is expected to reach USD 1.9 billion by 2030, registering a compound annual growth rate (CAGR) of 26.7% during the forecast period, according to a new report by Grand View Research, Inc. The major factors attributing the industry growth are the increasing worldwide incidences of chronic diseases, rising investment in the expansion of the healthcare sector, and the introduction of new technologies. The rising adoption of artificial intelligence(AI)-based technologies for conducting clinical trials and the increasing number of start-ups in this field are also opening new opportunities for the market. For instance, in February 2022, in their seed funding, Qureight raised USD 1.50 million for their AI-based platform which reduces the timeline for the clinical trials process and further helps in reducing the cost of medicine development. Major bio-pharma giants are implementing advanced technological solutions for better patient management and clinical trial results. These platforms further reduce clinical trial cycle time & cost, thereby increasing productivity & accuracy of the trial development. AI-based solutions incorporate natural language processing (NLP) algorithms which enhances the match rate between clinical trials and patient enrollment. For instance, AI-enabled clinical trial solutions used in matching patients have increased patient recruitment in lung cancer trial studies by 58.4%. Such advantages are further driving the market growth. Based on therapeutic application, oncology held the largest market share 23.2% in 2021 owing to the rise in the prevalence of cancer all over the globe and rising initiatives to develop therapeutic solutions for oncology. However, the cardiovascular disease segment is expected to show the fastest growth rate during the forecast period owing to increasing cases of heart attack, stroke, and others. Based on end users, pharmaceutical companies accounted for the highest revenue share of 66.0% owing to the growing focus on better development of bio-markers and diagnostics using AI-based technologies to identify the new medicine target and simplify the process of development of medicine and clinical trials by key players of pharmaceutical companies. Based on the region North America held the largest market share of 43.8% in 2021. However, Asia Pacific is expected to show the fastest growth rate during the forecast period due to the increasing penetration of AI-based clinical technologies and supportive government initiatives for adopting AI. Access Research Report of AI-based Clinical Trial Solutions For Patient Matching Market @ https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-iased-clinical-trial-solutions-patient-matching-market-report AI-based Clinical Trial Solutions For Patient Matching Market Report Highlights
AI-based Clinical Trial Solutions For Patient Matching Market Report Scope
List Of Key Players Of the AI-based Clinical Trial Solutions For Patient Matching Market
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