Global Generative AI in Clinical Trials industry size is expected to be worth around USD 1,122 million by 2032 from USD 140 million in 2022, growing at a CAGR of 23.8%. during the forecast period from 2023 to 2032.
Overview:
Generative Artificial Intelligence (AI) has quickly become a game-changer in clinical trials, revolutionizing how pharmaceutical companies, research institutions, and healthcare providers conduct their studies and create new treatments. This innovative approach utilizes machine learning algorithms and neural networks to produce data, predictions, and insights that can significantly increase the efficiency and effectiveness of clinical trials. In this comprehensive analysis, we will investigate the key influences governing the adoption and growth of generative AI in clinical trials, such as restraints, driving forces, opportunities, present trends, recent developments, future prospects, and regional considerations.
Global Generative AI in Clinical Trials industry size is expected to be worth around USD 1,122 million by 2032 from USD 140 million in 2022, growing at a CAGR of 23.8%. during the forecast period from 2023 to 2032.
Key Market Segments
Based on Application
- Data generation
- Clinical trial design
- Outcome prediction
- Adverse event detection
- Data imputation and Denoising
- Other Applications
Based on Technology
- Variational Autoencoders (VAEs)
- Generative Adversarial Networks (GANs)
- Deep Convolutional Networks (DCNs)
- Transfer Learning
- Other Technologies
Based on End-Use
- Researchers and Scientists
- Healthcare Professionals
- Clinical Trial Sponsors and CROs
- Data Analysts and Biostatisticians
- Other End Uses
Recent Developments:
Recent innovations in generative AI for clinical trials include natural language processing models designed to extract insights from unstructured clinical notes and scientific literature, deep learning models being utilized to predict patient responses to specific treatments, thus making adaptive trial designs possible; image analysis tools powered by AI assist with interpretation of medical imaging data enhancing diagnostic accuracy and monitoring of treatment progress.
Market Key Players
- IBM Watson
- Microsoft Corporation
- Google LLC
- Tencent Holdings Ltd.
- Neuralink Corporation
- Johnson Johnson
- Other Key Players
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