AI In Clinical Trials Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.7 Billion |
| Market Size (2029) | USD 5.5 Billion |
| CAGR (2024 - 2029) | 25.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
AI In Clinical Trials Market Analysis
The AI In Clinical Trials Market size is estimated at USD 1.7 billion in 2024, and is expected to reach USD 5.5 billion by 2029, growing at a CAGR of 25.70% during the forecast period (2024-2029).
AI in clinical trials refers to the use of artificial intelligence technologies to enhance and streamline various aspects of clinical research and drug development. This encompasses a range of applications, including patient recruitment, data management and analysis, predictive modeling, monitoring and safety, and operational optimization. Overall, AI in clinical trials aims to improve the speed, accuracy, and efficiency of the drug development process, ultimately leading to faster delivery of new therapies to patients.
Several factors are expected to drive the growth of AI in the clinical trials market during the forecast period. The growing number of cross-industry collaborations and partnerships, the growing trend toward personalized medicine, and the rising demand to control drug discovery and development costs and timelines are major drivers for market growth. Many companies are using AI to speed up the clinical trial process and reduce completion time. For instance, in January 2024, Accenture made a strategic investment, through Accenture Ventures, in QuantHealth, an Israel-based AI-powered clinical trial design company that simulates clinical trials in the cloud, allowing pharmaceutical and biotech companies to more quickly and cost-effectively develop treatments for patients. Such investments undertaken by key players in the market are expected to drive the growth of AI in the clinical trials market during the forecast period.
Furthermore, key players are focused on launching digital health solutions owing to the increasing use of AI in drug trials to improve drug trial design, patient enrichment and enrollment, selection of investigators and sites, patient monitoring, medication adherence, and other applications, which is boosting the growth of the market. For instance, in November 2023, AstraZeneca launched Evinova, a health technology business focused on bringing digital health solutions already in use globally by the pharma company to clinical research organizations (CROs), trial sponsors and care teams, and patients. The new company uses established digital technology solutions to streamline clinical trial design and delivery to reduce time and costs in medicine development. Additionally, the initiative explores digital remote patient monitoring and therapeutics.
Similarly, in September 2024, Massive Bio, a US-based oncology software firm, launched Patient Connect, a free portal in the United States designed to personalize access to global cancer clinical trials. Using AI, the platform matches patients with suitable clinical trials based on their medical profiles. Patients can provide consented access to their medical records and make use of Massive Bio’s AI-powered system to identify the most relevant clinical trial options.
Hence, the adoption of AI as an asset to accelerate the healthcare process is projected to grow in the future, driving the growth of the market over the forecast period.
Despite the positive factors, standardization of AI models and stringent regulatory guidelines for medical software are expected to hinder the growth of the market during the forecast period.
AI In Clinical Trials Market Trends
Software Segment Expected to Witness Significant Growth Over the Forecast Period
The software segment is expected to gain a significant market share during the forecast period owing to data complexity and volume, the need for efficiency in patient recruitment, and increased research and development activities within the pharmaceutical industry.
AI in clinical trials software refers to advanced applications that leverage artificial intelligence technologies to improve various aspects of the clinical trial process. Traditional patient recruitment methods can be time-consuming and resource-intensive. AI software streamlines this process by quickly identifying eligible participants based on extensive criteria and reducing trial timelines.
Moreover, regulatory agencies, such as the US Food and Drug Administration (FDA), are increasingly recognizing and encouraging the use of AI in clinical trials. For example, FDA is actively involved in areas such as clinical trial design, digital health technologies, and the analysis of real-world data. This support creates a favorable environment for pharmaceutical companies to adopt these technologies, ensuring compliance while enhancing operational efficiency. For instance, in April 2024, Research Solutions, a trusted US partner providing cloud-based workflow solutions to accelerate research for R&D-driven organizations, launched its new Clinical Trial Landscape software solution, making clinical trial information more insightful, accessible, and actionable. This new software simplifies the discovery and synthesis of clinical trial information to accelerate innovation in the medical field. Such developments are anticipated to boost the segmental growth over the forecast period.
Moreover, partnerships between technology companies and pharmaceutical firms foster innovation in AI software, combining expertise from both industries to develop more effective clinical trial solutions. For instance, in February 2023, ZS, a management consulting and technology firm, acquired Trials.ai, a company specializing in intelligent study design. The ZS uses Trials.ai's artificial intelligence (AI) tools to help clinical development teams create better studies, improve participant experiences, and speed up the delivery of pharmaceutical therapies to the market. Such strategic agreements are expected to drive the growth of the software segment over the forecast period.
Overall, new product launches and new cross-industry collaborations are key factors driving the usage of the software segment, which is likely to propel the market during the forecast period.
North America Expected to Dominate the AI in Clinical Trials Market
North America is expected to dominate the market owing to factors such as increasing research and development costs, the complexity of managing large datasets, and a focus on personalized medicine. Companies in North America are leveraging AI to enhance patient recruitment, streamline operations, and improve data analysis and monitoring.
The presence of numerous market players and a growing number of cross-industry collaborations and partnerships are also majorly impacting the growth of the AI pharmaceutical industry in North America. For instance, in February 2024, US-based Castor partnered with Microsoft to use Microsoft Azure, aiming to bring advanced artificial intelligence (AI) into clinical trials. Castor, with its modular and patient-centric clinical trial platform, is dedicated to creating technologies that reduce the burden for patients, sponsors, and study teams.
Additionally, in August 2023, Deep 6 AI partnered with Texas Tech University Health Sciences Center (TTUHSC) to boost patient access to clinical trials. TTUHSC plans to leverage AI to improve patient access to its electronic medical record (EMR) system. With key players consistently engaging in strategic initiatives, the market's growth in the region is projected to accelerate during the forecast period.
Furthermore, the increasing government focus on funding to use AI to improve patient screening at cancer clinical trial sites is another significant factor expected to drive the market for AI in clinical trials. For instance, in October 2022, researchers funded by the National Cancer Institute (NCI) worked with AI experts from ConcertAI LLC to improve diversity in cancer clinical trials in the Gulf South region of the United States. Since 2014, NCI has funded Louisiana State University Health New Orleans, an NCI Community Oncology Research Program (NCORP) site, to set up and grow a clinical trials network in the region, focusing on minority and underserved patients. This project aims to use AI to better screen patients at cancer clinical trial sites, studying its impact on reducing health inequities and thereby boosting market growth in the region.
In summary, the growing government focus on funding and cross-industry collaborations is likely to increase the usage of AI in the healthcare industry in North America and drive the market's growth during the forecast period.
AI In Clinical Trials Industry Overview
The AI in clinical trials market is fragmented in nature. The major players in this market include Saama Technologies, AiCure LLC, Antidote Technologies Inc., Exscientia, Euretos, and BioSymetrics Inc. Some of these major players are involved in various strategies such as collaborations, acquisitions, and the development of new products/services to expand their product offerings and presence in the global market.
AI In Clinical Trials Market Leaders
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Saama Technologies
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AiCure, LLC
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Antidote Technologies Inc.
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Deep6.ai
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Consilx
*Disclaimer: Major Players sorted in no particular order
AI In Clinical Trials Market News
- June 2024: Lokavant Inc. launched Spectrum, an artificial intelligence (AI) software for clinical trial feasibility. Spectrum helps study teams predict, optimize, and control trial timelines and costs in real time, allowing for ongoing feasibility analyses and mid-study adjustments.
- April 2024: Parexel, a global leader in clinical research organizations (CROs) offering comprehensive Phase I to IV clinical development services, partnered with Palantir Technologies Inc., a leader in artificial intelligence (AI) system development. Their collaboration aims to use AI to improve and speed up the delivery of safe and effective clinical trials for biopharmaceutical clients worldwide. Through this partnership, Parexel will use Palantir’s Foundry and Artificial Intelligence Platform (AIP) to strengthen its clinical data platform, focusing on making clinical trials more efficient while maintaining high safety and regulatory standards.
AI In Clinical Trials Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Number of Cross-industry Collaborations and Partnerships
4.2.2 Growing Trend Toward Personalized Medicine
4.2.3 Growing Demand to Control Drug Development Costs and Reduce Time Involved in Drug Development
4.3 Market Restraints
4.3.1 Standardization of AI Models and Stringent Regulatory Guidelines for Clinical Software
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Component Type
5.1.1 Software
5.1.2 Services
5.2 By Therapeutic Area
5.2.1 Oncology
5.2.2 Cardiovascular Diseases
5.2.3 Metabolic Diseases
5.2.4 Infectious Diseases
5.2.5 Other Therapeutic Areas
5.3 By End User
5.3.1 Pharmaceutical and Biotechnological Companies
5.3.2 Contract Research Organizations
5.3.3 Research and Academic Institutes
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Unlearn.ai Inc.
6.1.2 Saama Technologies
6.1.3 AiCure LLC
6.1.4 Antidote Technologies Inc.
6.1.5 Exscientia
6.1.6 BioSymetrics Inc.
6.1.7 Euretos
6.1.8 Owkin Inc.
6.1.9 Deep6.ai
6.1.10 Consilx
6.1.11 Medidata
6.1.12 Ardigen
6.1.13 Mendel AI
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
AI In Clinical Trials Industry Segmentation
As per the scope of the report, AI in clinical trials uses artificial intelligence technologies to improve different stages of the clinical research process and speed up the delivery of new therapies to patients.
The AI in clinical trials market is segmented by component type, therapeutic area, end user, and geography. By component type, the market is segmented into software and services. By therapeutic area, the market is segmented into oncology, cardiovascular diseases, metabolic diseases, infectious diseases, and other therapeutic areas. The other therapeutic areas segment includes neurological diseases and immunology diseases, among others. By end user, the market is segmented into pharmaceutical and biotechnological companies, contract research organizations, and research and academic institutes. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The report also offers the market sizes and forecasts for 17 countries across these regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD).
| By Component Type | |
| Software | |
| Services |
| By Therapeutic Area | |
| Oncology | |
| Cardiovascular Diseases | |
| Metabolic Diseases | |
| Infectious Diseases | |
| Other Therapeutic Areas |
| By End User | |
| Pharmaceutical and Biotechnological Companies | |
| Contract Research Organizations | |
| Research and Academic Institutes |
| Geography | ||||||||
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AI In Clinical Trials Market Research FAQs
How big is the AI In Clinical Trials Market?
The AI In Clinical Trials Market size is expected to reach USD 1.7 billion in 2024 and grow at a CAGR of 25.70% to reach USD 5.5 billion by 2029.
What is the current AI In Clinical Trials Market size?
In 2024, the AI In Clinical Trials Market size is expected to reach USD 1.7 billion.
Who are the key players in AI In Clinical Trials Market?
Saama Technologies, AiCure, LLC, Antidote Technologies Inc., Deep6.ai and Consilx are the major companies operating in the AI In Clinical Trials Market.
Which is the fastest growing region in AI In Clinical Trials Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in AI In Clinical Trials Market?
In 2024, the North America accounts for the largest market share in AI In Clinical Trials Market.
What years does this AI In Clinical Trials Market cover, and what was the market size in 2023?
In 2023, the AI In Clinical Trials Market size was estimated at USD 1.26 billion. The report covers the AI In Clinical Trials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the AI In Clinical Trials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
AI In Clinical Trials Industry Report
Statistics for the 2024 AI In Clinical Trials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. AI In Clinical Trials analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
