Artificial Intelligence In Life Sciences Market To Reach US$ 6.58 Billion By 2027, Exhibiting A Growth Rate (CAGR) Of 26.50% During 2022-2027

The global artificial intelligence in life sciences market size reached US$ 1.48 Billion in 2021. The market to reach US$ 6.58 Billion by 2027, exhibiting a growth rate (CAGR) of 26.50% during 2022-2027.

In the life sciences, artificial intelligence (AI) is a highly data-driven technology that is used to gather, analyze, and manage patient data. It is frequently used for patient monitoring, precision medicine, drug development, clinical trials, and customized medicine. Additionally, it is used to create customized therapies, create medications, diagnose ailments, introduce therapies, and perform robotic procedures. It's a good idea to have a backup plan in case something goes wrong. Moreover, it eliminates human mistake while increasing productivity, efficiency, and cost-effectiveness.

Machine learning (ML) and deep learning (DL) are two ways that AI is used in medicine. Deep learning (DL) is AI that is carried out by robots. The field of robotic surgery has recently attracted a lot of attention. Surgery can now be performed at locations that were previously unreachable thanks to technology like the da Vinci surgical system. Technology advancements have made it possible for humans and robots to interact, enabling touchless operation by human surgeons of surgical robots. Through the use of hand or head motions, voice and speech recognition, or the surgeon's sight, such manipulation is made possible. In the upcoming years, these advancements are anticipated to help the market for artificial intelligence in the biological sciences flourish.

In the coming years, artificial intelligence (AI) is also expected to revolutionize the pharmaceutical cold chain. Businesses are attempting to create software that uses machine learning to generate predictions about environmental risks in the biopharmaceutical cold chain cycle. Analytical decision-making (by combining and analyzing data from various sources, AI-based systems could offer complete visibility with predictive data), supply chain management (SCM), inventory management, warehouse automation, and other areas are among those where AI is anticipated to play a significant role.

Market Trends:

One of the main drivers of market expansion at the moment is the increased prevalence of complicated diseases like cancer. For patients, effective medicine combinations with specific molecular targets are frequently created using AI in the life sciences. Likewise, the expansion of clinical trials around the world is producing enormous quantities of publicly accessible data at an exponential rate. This in turn is generating profitable chances for market expansion. In addition, the development of dependable and sophisticated cloud computing infrastructure, which makes it simple to handle, distribute, and store data and aids in improving organizational operations in accordance with needs, is boosting the market.

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Global Artificial Intelligence in Life Sciences Market: Segmentations

Global Artificial Intelligence in Life Sciences Market: Major Players
twoXAR, Inc
Cyrcadia Health Inc
Atomwise Inc
Sophia Genetics SA
APIXIO, Inc
Sensely Inc
Enlitic, Inc
IBM Corporation
Zebra Medical Vision
AiCure, LLC
Insilico Medicine, Inc
Lifegraph Limited
Numerate, Inc
NuMedii, Inc

Global Artificial Intelligence in Life Sciences Market: By Types
Machine Learning
Deep Learning
Natural Language Processing
Robotics and The Internet of Things

Global Artificial Intelligence in Life Sciences Market: By Applications
Drug Discovery
Medical Diagnosis
Biotechnology
Clinical Trails
Precision & Personalized Medicine
Patient Monitoring
Others

Global Artificial Intelligence in Life Sciences Market: Regional Analysis
The countries covered in the regional analysis of the Global Artificial Intelligence in Life Sciences market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Market Trends:

Clinical trials are one of the most data-intensive undertakings in the life sciences business. Every day, they collect enormous amounts of data while monitoring various patient characteristics. The researchers may find meaningful association even between loosely connected data by putting these data sets through intelligent AI systems. This motivates numerous pharmaceutical firms and clinical research institutions to invest in cutting-edge tools like artificial intelligence. In the current market environment, the pharmaceutical industry, which conducts over 50% of all clinical trials worldwide each year, is widely observing the rapid adoption of AI.

Report Scope:

The primary and secondary research is done in order to access up-to-date government regulations, market information and industry data. Data were collected from the Artificial Intelligence in Life Sciences manufacturers, distributors, end users, industry associations, governments' industry bureaus, industry publications, industry experts, third party database, and our in-house databases. The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment by type, application and region and as a result provides a holistic view of as well as a deep insight into the Artificial Intelligence in Life Sciences market covering all its essential aspects.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

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