AI-Based clinical trial solutions for the patient matching market areanticipated to grow at a significant CAGR of 22.6% during the forecast period (2024-2031).The global market for AI-based clinical trial solutions for patient matching is driven by rising demand for clinical trials, the complexity of patient matching, advancements in AI and ML technologies, integration with Electronic Health Records (EHRs), regulatory pressures, and patient-centricity. These solutions aim to improve patient enrollment, enhance trial efficiency, and accelerate drug development. AI-based solutions can analyze large datasets, EHRs, and real-world data to identify eligible patients more efficiently. It additionallyintegrateswith EHR systems for seamless access to patient data and clinical trial protocols. Collaborations between technology providers, pharmaceutical companies, CROs, and healthcare institutions are driving innovation in the development and adoption of AI-based clinical trial solutions.

Market Dynamics

Market Demand For Faster Drug Development

AI-based clinical trial solutions are being utilized by the pharmaceutical industry to expedite drug development, overcoming challenges such ashigh costs and lengthy timelines, thereby gaining a competitive edge. According to the American Medical Association, in March 2023, the increase in health spending in the US in 2021 was 2.7%, reaching a total of $4.3 trillion, which translates to $12,914 per capita. This growth rate is significantly lower than the previous year's 10.3% increase. The decline in pandemic-related government expenditures offset the rise in utilization of medical goods and services that rebounded from delayed care and pent-up demand in 2020. 

Growing Demand For Personalized Medicine

The field of personalized medicine is expanding, necessitating AI-based patient matching systems to identify patient subgroups for certain therapies, improving the results of clinical trials, and enabling the development of focused therapies. For instance, in May 2023, ObjectiveHealth launched ObjectiveScreen, an AI platform for clinical trial feasibility and recruitment. It optimizes patient identification, prequalification, and retention, connecting clinical trial sites with patient EHRs and stratifying health risks against biomarkers.

Market Segmentation

Our in-depth analysis of the global AI-based clinical trial solutions for the patient matching market includes the following segments by application,and end-user:

• Based on application, the market is sub-segmented into oncology, cardiovascular diseases, neurological diseases or conditions, metabolic diseases, infectious diseases, and others (gastrointestinal disorders,and respiratory diseases).

• Based on end-users, the market is bifurcated into pharmaceutical companies, academia, and others (contract research organizations (cros), and government agencies).

Oncologyis Projected to Emerge as the Largest Segment

Based on the device platform, the global AI-based clinical trial solutions for patient matching market aresub-segmented into oncology, cardiovascular diseases, neurological diseases or conditions, metabolic diseases, infectious diseases, and others(gastrointestinal disorders,and respiratory diseases). Among these, the oncologysub-segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includesthe rise in oncology trials, driven by cancer research and drug development, necessitatingefficient patient recruitment and matching solutions. AI-based clinical trial solutions streamline recruitment, accelerate enrollment, and optimize resource utilization. According to the IQVIA, in May 2023, the number of oncology trials remained at high levels, showing a 22.0% increase compared to 2018. The global number of treated patients has been growing steadily at an average rate of 5.0% over the past five years. It is projected that spending on cancer medicines will reach $375.0 billion globally by 2027, a significant increase from the $196.0 billion spent in 2022. Additionally, emerging biopharma companies have been at the forefront of innovation in oncology, accounting for 71.0% of the pipeline. The number of oncology products under development has also seen significant growth over the last decade, with over 2,000 products currently in the pipeline.

Pharmaceutical Companies Sub-segment to Hold a Considerable Market Share

AI-powered drug-matching products improve biotech and pharmaceutical companies' efficiency by analyzing patient data and treatment preferences, identifying market opportunities, optimizing launch strategies, and accelerating therapy adoption. For instance, in January2023, Massive Bio launched an AI-powered drug-matching product to help oncologists identify more cancer treatment options for patients. The product will help biotech and pharmaceutical companies target the latest drugs, improving their go-to-market efficiency. It builds on Massive Bio's oncology-focused AI platform, which has onboarded over 100,000 patients.

Regional Outlook

The globalAI-based clinical trial solutions for patient matching market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). 

Technological advancement and innovation In the North American Region

AI technology enhances clinical trial solutions by analyzing patient data, identifying trials, and matching patients with research opportunities, driving adoption and market growth. For instance,in June 2023, Oncoshot India is aiming to enhance the accessibility of clinical trials for cancer patients in India by implementing an AI-based program that will effectively match with suitable trials. This initiative is expected to incentivize pharmaceutical companies to explore the possibility of conducting more trials within the country.

Global AI-Based Clinical Trial Solutions for Patient Matching Market Growth by Region 2024-2031

North AmericaHolds Major Market Share

The US leads in clinical trials owing to its advanced healthcare infrastructure, robust regulatory framework, and extensive research ecosystem. This has led to a significant demand for AI-based patient-matching solutions, enhancing trial operations and drug development timelines. According to the World Health Organization (WHO), in February 2023, the countries with the highest total number of registered trials during the period of 1999-2022 were the USwith 168,520 trials, followed by China with 94,193 trials, and Japan with 63,499 trials.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the global AI-based clinical trial solutions for the patient matching market includeAntidote Technologies, Inc.,Clinerion,Deep 6 AI Inc.,IBM Corp., and Saama Technologies, LLC., among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive. for instance,Massive Bio, Inc., launched its 100K CANCER CLINICAL TRIAL SINGULARITY PROGRAM, a first-of-its-kind program aimed to provide real-time access to cutting-edge clinical trials for cancer patients globally.

The Report Covers

• Market value data analysis of 2023and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global AI-based clinical trial solutions for the patient matching market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.