The global AI-based clinical trials solution provider market size reached USD 1.24 Billion in 2020 and is expected to register a revenue CAGR of 21.5% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of Artificial Intelligence (AI)-enabled digital technology is a key factor driving global AI-based clinical trials solution provider market revenue growth. Increasing use of AI-enabled digital health technologies coupled with patient support platforms is expected to improve patient engagement and retention throughout study duration as well as after study termination, which is expected to propel revenue growth of the global AI-based clinical trial solution provider market. AI-enabled technologies are enabling data integration and interpretation along with evolutionary modelling and pattern recognition for gathering, normalizing, analyzing, and harnessing the growing volumes of data that fuel modern therapy development. Thus, AI and advanced analytics are considered as the digital technology that can potentially improve clinical RD productivity and clinical outcomes, and this is expected to augment growth of global AI-based clinical trials solution provider market to a significant extent.
Some of the key factors driving the growth of the global AI-based Clinical Trials Solution Provider market include expanding RD efforts to develop novel AI-based Clinical Trials Solution Provider products for a variety of applications and rising demand for mercury control technology for industrial air purification. The most recent data on the COVID-19 pandemic market condition is provided in the research. The investigation indicates that COVID-19 plays a vital role in the market's dynamically altered environment. The study carefully investigates how the pandemic has altered market dynamics and trends while also precisely analysing how the crisis has impacted the market as a whole.
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Effect of COVID-19 on the global market for AI-based Clinical Trials Solution Provider
The COVID-19 pandemic had a significant negative influence on the market for AI-based Clinical Trials Solution Provider in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of AI-based Clinical Trials Solution Provider were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of AI-based Clinical Trials Solution Provider in 2020. Additionally, demand for AI-based Clinical Trials Solution Provider decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.
AI-based Clinical Trials Solution Provider market : Competitive Landscape
The prominent players operating in the AI-based Clinical Trials Solution Provider market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the AI-based Clinical Trials Solution Provider market .
Some of the prominent players operating in the market are:
AiCure, LLC, Unlearn.AI, Inc., BioAge Labs Inc., Antidote Technologies, Inc., Saama Technologies Inc., International Machine Business Corporation (IBM), Concentro Health AI, Deep 6 AI Inc., PathAI Inc., and Owkin Inc
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The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
Key questions answered in the report:
What will be the development pace of AI-based Clinical Trials Solution Provider market ?
What are the key factors driving the Global AI-based Clinical Trials Solution Provider market ?
Who are the key manufacturers in the market space?
What are the openings, hazards, and outline of the market?
What is sales, revenue, and price analysis of top manufacturers of AI-based Clinical Trials Solution Provider market ?
Who are the distributors, traders, and dealers of AI-based Clinical Trials Solution Provider market ?
What are the AI-based Clinical Trials Solution Provider market opportunities and threats faced by the vendors in the Global Infrared detector industries?
What are deals, incomes, and value examinations by types and utilizations of the market?
What are deals, income, and value examinations by areas of enterprises?
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Segments Covered in this report are:
Clinical Trial Phase Outlook (Revenue, USD Billion; 2018–2028)
- Phase-I
- Phase-II
- Phase-III
Therapeutic Application Outlook (Revenue, USD Billion; 2018–2028)
- Cancer
- Cardiovascular Disease
- Neurological Disease
- Metabolic Disease
- Infectious Disease
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Pharmaceuticals
- Academia
- Contract Research Organizations (CROs)
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Regional Bifurcation of the AI-based Clinical Trials Solution Provider market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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About Emergen Research
Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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