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The AI in Clinical Trials Market is anticipated to grow at a CAGR of ~16% till 2035, claims Roots Analysis

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AI holds immense potential to overcome challenges related to poor patient recruitment, engagement, monitoring, study design and a myriad of other complexities associated with clinical trials 
LONDON, Aug. 22, 2023 /PRNewswire/ – Roots Analysis has announced the addition of “AI in Clinical Trials Market (2nd Edition): AI Software and Service Providers, 2023-2035″ report to its list of offerings.
Driven by the diverse advantages and ongoing advancements in AI, the demand for AI software and services in clinical trials has increased in the healthcare industry. As a result, clinical trial sponsors have started utilizing AI to streamline clinical trials and obtain desired patient outcomes, resulting in a more patient-centric, time and cost-effective, and easy to manage approach.
To order this 300+ pages report, which features 120+ figures and 135+ tables, please visit https://www.rootsanalysis.com/reports/ai-based-clinical-trial-solutions.html 
Key Market Insights
Close to 130 players currently claim to provide AI software and services for clinical trials to multiple end-users
The market landscape is highly fragmented, with 67% of the stakeholders headquartered in North America, followed by firms based in Europe (26%), and Asia-Pacific and Rest of the World (7%). Further, the current market is dominated by the presence of small players (11-50 employees), constituting around 40% of the total number of AI software and service providers.
Nearly 90% players claim to offer cloud-based AI software and services for a wide variety of applications in clinical trials
More than 85% of the players offer AI software and services for data analytics, followed by patient / trial monitoring and patient recruitment (71%, each). It is worth mentioning that around 95% of these players provide such software and services to pharmaceutical and biotechnology companies, followed by research institutes (over 60%).
Around 600 clinical trials have leveraged AI software and services, since 2018
The AI powered clinical trials are largely being conducted in North America (around 40%), followed by Europe (over 30%). Additionally, it is worth highlighting that over 35% of these clinical trials were focused on treatment of oncological disorders.
Partnership activity in this market has increased at a CAGR of 20% during the period 2018-2022
Most of the partnerships related to AI in clinical trials were inked in 2022 (22%), followed by 2020 (21%). It is worth highlighting that 40% of the deals were product / technology utilization agreements, followed by product / technology integration agreements (20%)
Nearly USD 2.5 billion was invested to advance AI focused clinical trial initiatives, globally
A significant rise in funding activity has been observed since 2019, with majority of the funding instances (24%) being reported in the year 2020. In fact, more than 85% of the total investment (in terms of the amount invested) was made in the last three years. Further, majority of the amount was raised through venture capital funding (72%), amounting to USD 1.6 billion.
Big Pharma initiatives in this domain have grown at a CAGR of ~70%, between 2019 and 2022
Around 75% of the initiatives were in the form of partnerships; of these, close to 55% of the big pharma initiatives were focused on clinical trial design, followed by patient recruitment (45%) and data analytics (32%).
Use of AI software and services in clinical trials is estimated to save more than 25% of the overall clinical trial cost
By 2035, we anticipate net annual cost savings of close to USD 30 million with the adoption of AI software and services in clinical trial processes. It is worth mentioning that most of the cost reduction is estimated to be reported in the process of patient retention (~50%).
North America is anticipated to capture around 40% of the market share by 2035
In terms of potential end-users, pharmaceutical and biopharmaceutical companies are expected to contribute around 85% of the total market share by 2035. Further, more than 15% of the market share is anticipated to be captured by academic research institutes and other end-users. In addition, it is worth highlighting that phase II clinical trials are likely to capture close to 45% of the total market share.
To request a sample copy / brochure of this report, please visit https://www.rootsanalysis.com/reports/ai-based-clinical-trial-solutions/request-sample.html 
Key Questions Answered
How is AI and ML used in clinical trials?What are the challenges associated with integrating AI in clinical trials?What is the role of AI in electronic health records of clinical trials data?What is the global market size of AI in clinical trials market?Which are the leading artificial intelligence companies in clinical trials market?How AI can improve clinical trials?What are the leading market segments in the global AI in clinical trials market ?Which region captures the largest share in the AI in clinical trials market?What are the upcoming trends in AI in clinical trial market?What is the likely growth rate (CAGR) for AI in clinical trial market?The financial opportunity within the AI in clinical trials market has been analyzed across the following segments:
Trial PhasePhase IPhase IIPhase IIITarget Therapeutic AreaOncological DisordersCardiovascular DisordersCNS DisordersInfectious DiseasesMetabolic DisordersOther DisordersEnd-UserBiotechnology and Pharmaceutical CompaniesAcademic Research Institute and Other end-usersKey Geographical RegionsNorth AmericaEuropeAsia-PacificMiddle East and North AfricaLatin AmericaThe opinions and insights presented in the report were influenced by discussions held with senior stakeholders in the industry. The report features detailed transcripts of interviews and surveys held with the following experts:
Danielle Ralic (Co-Founder, Chief Executive Officer and Chief Technology Officer, Ancora.ai)Wout Brusselaers (Founder and Chief Executive Officer, Deep 6 AI)Dimitrios Skaltsas (Co-Founder and Executive Director, Intelligencia)R.A. Bavasso (Founder and Chief Executive Officer, nQ Medical)Grazia Mohren (Head of Marketing), Michael Shipton (Chief Commercial Officer), Darcy Forman (Chief Delivery Officer), Troy Bryenton (Chief Technology Officer, Science 37)The research also includes profiles of key players (listed below), engaged in providing AI software and services in clinical trials; each profile features an overview of the company, financial information (if available), details on its service portfolio, recent developments, and an informed future outlook:
AiCureAntidote TechnologiesDeep 6 AIInnoplexusIQVIAMedian TechnologiesMedidataMendel.aiPhesiSaama TechnologiesSignant HealthTrials.aiFor additional details, please visit https://www.rootsanalysis.com/reports/ai-based-clinical-trial-solutions.htm or email [email protected] 
You may also be interested in the following titles:
Decentralized Clinical Trials / Virtual Clinical Trials Market (2nd Edition): Industry Trends and Global Forecasts, 2023-2035Quantum Computing Market: Industry Trends and Global Forecasts, 2023-2035Digital Twins Market: Industry Trends and Global Forecasts, 2022-2035Contact:Gaurav Chaudhary+1 (415) 800 3415+44 (122) 391 [email protected]
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Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors

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BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.

The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development. 
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference. 
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
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CGTN: China honors individuals with highest awards in celebration of 75th National Day

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BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.

The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
 

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Kazakhstan Government Delegation Visited SUPCON

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HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.

The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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