The ai in life science analytics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
AI In Life Science Analytics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The ai in life science analytics market size has grown rapidly in recent years. It will grow from $1.97 billion in 2023 to $2.32 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to research and development funding, regulatory changes, drug discovery challenges, healthcare digitization, patient-centric care..
The ai in life science analytics market size is expected to see rapid growth in the next few years. It will grow to $4.46 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to drug repurposing opportunities, real-world evidence adoption, genomics advancements, value-based care models, telemedicine expansion.. Major trends in the forecast period include augmented reality (ar) in healthcare, digital biomarkers analysis, continuous learning algorithms, remote patient monitoring, personalized medicine..
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Scope Of AI In Life Science Analytics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
AI In Life Science Analytics Market Overview
Market Drivers –
The increasing adoption of AI is expected to propel the growth of AI in the life science analytics market going forward. Artificial intelligence (AI) is defined as a field that combines datasets and computer sciences to enable problem-solving. It also involves machine learning and deep learning processes, which are frequently mentioned along with artificial intelligence. Artificial intelligence is used for various purposes in life science analytics, such as drug discovery, clinical trials, medical diagnosis, patient monitoring, and personalized medicine. For instance, in 2022, according to International Business Machines Corporation, a US-based technology company, 35% of companies are currently using AI across the world, and 42% of companies are looking forward to embedding AI in their processes and applications. Therefore, increasing AI adoption is driving the growth of AI in the life science analytics market going forward.
Market Trends –
Technological advancement is the key trend gaining attraction in AI in the life science analytics market. Major Companies operating in the AI in life science analytics market are adopting new technologies to sustain their position in the market. For instance, in October 2023, BioLizard, a Belgium-based biotechnology company launched a new AI-empowered BioVerse platform to facilitate data-driven R&D for the global life sciences community. The platform is designed to provide tailored, user-friendly software solutions for data-driven results, targeted towards scientists in biotech and pharma, with or without IT backgrounds. The platform includes three applications such as Bio|Reflect, which provides global overviews of publications to support unbiased literature searches, Pro|Biome, which applies data analytics to microbiome analysis, and Bio|Mx, which leverages AI to integrate and analyze multi-omics datasets. The goal of BioVerse is to facilitate data-driven discovery, and preclinical, translational, and clinical R&D processes in the life sciences industry by implementing AI-driven solutions. This launch demonstrates BioLizard’s commitment to providing AI-driven solutions to support data-driven discovery, and preclinical, translational, and clinical R&D processes in the life sciences industry.
The ai in life science analytics market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Deployment: On-Premise, Cloud
3) By Application: Research And Development, Sales And Marketing Support, Supply Chain Analytics, Other Applications
4) By End-User: Medical Devices, Pharmaceutical, Biotechnology, Other End Users
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Regional Insights –
North America was the largest region in the AI in life science analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the AI in life science analytics market report during the forecast period. The regions covered in the ai in life science analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the ai in life science analytics market report are Indegene Limited, International Business Machines Corporation, IQVIA Holdings Inc., Lexalytics Inc., Databricks Inc., SAS Institute Inc., Sisense Inc., Sorcero Atomwise Inc., Microsoft Corporation, NVIDIA Corporation, Oracle Corporation, NuMedii Inc., Enlitic Inc., Apixio Inc., AiCure LLC, Google LLC, Amazon Web Services Inc., Accenture, Cognitivescale, CloudMinds, Ayasdi, BioSymetrics, Cloud Pharmaceuticals, Cyrcadia Health, Freenome, GNS Healthcare, Insilico Medicine, MedWhat, PathAI, Recursion Pharmaceuticals, Sophia Genetics, Veracyte Inc. .
Table of Contents
1. Executive Summary
2. AI In Life Science Analytics Market Report Structure
3. AI In Life Science Analytics Market Trends And Strategies
4. AI In Life Science Analytics Market – Macro Economic Scenario
5. AI In Life Science Analytics Market Size And Growth
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27. AI In Life Science Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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