Chicago, Oct. 18, 2022 (GLOBE NEWSWIRE) — According to the new market research report “Artificial Intelligence (AI) in Clinical Trials Market by Offering (Software, Services), Technology (Machine Learning, Deep Learning, Supervised), Application (Cardiovascular, Metabolic, Oncology), End User (Pharma, Biotech, CROs) – Global Forecasts to 2027”, is projected to reach USD 4.8 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 25.6% during the forecast period.
Scope of the Artificial Intelligence (AI) in Clinical Trials Market Report:
| Report Metric | Details |
| Market Size | USD 4.8 billion by 2027 |
| CAGR | 25.6% |
| Historical Data | 2010-2021 |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Offering, By Technology, By Application, By End User, By Geography |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | 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 |
The growth of this market is driven by the growing need to control development costs & reduce time involved in drug development, and Increasing adoption of AI based platform to improve productivity and efficiency of clinical trials, On the other hand, a lack of data sets in the field of clinical trials and the inadequate availability of skilled labor are some of the factors challenging the growth of the market
“Services segment is expected to grow at the highest rate during the forecast period”
Based on offering, the AI in clinical trials market is segmented into software and services. In 2021, the services segment accounted for the largest market share of the global AI in clinical trials services market and also expected to grow at the highest CAGR during the forecast period. 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.