AI In Life Science Analytics Market Share Analysis, Growth Drivers, Size, Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global AI In Life Science Analytics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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.; Accentur*e; Cognitivescale; CloudMinds; Ayasdi; BioSymetrics; Cloud Pharmaceuticals; Cyrcadia Health; Freenome; GNS Healthcare; Insilico Medicine; MedWhat; PathAI; Recursion Pharmaceuticals; Sophia Genetics; Veracyte Inc.

AI In Life Science Analytics Market 2024 Key Insights:

• The ai in life science analytics market will grow to $4.46 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%.
• Surge In Ai Adoption Catalyzing Growth In Ai In Life Science Analytics Market
• Technological Advancement In AI In The Life Science Analytics Market
• North America was the largest region in the AI in life science analytics market in 2023

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