Press release
AI in Life Science Analytics Market Expected To Reach $2.65 Billion by 2025: Exploring Key Drivers and Trends
AI In Life Science Analytics Market Size
What Is The Projected Market Size Of The AI In Life Science Analytics Global Market And Its Growth Rate?
With advancements in research and development, healthcare digitization, and patient-centric care, the AI in life science analytics market has experienced significant growth:
• Projected Market Size for 2024: $2.27 billion
• Expected Growth to 2025: $2.65 billion (CAGR of 16.7%)
• Forecasted Market Size for 2029: $5.34 billion (CAGR of 19.1%)
Forthcoming growth can be attributed to opportunities in drug repurposing, real-world evidence adoption, genomics advancements, value-based care models and telemedicine expansion.
What Is Driving The Growth In The AI In Life Science Analytics Global Market Report 2024?
The growth of AI in the life science analytics market is expected to be propelled by the increasing adoption of AI. Thanks to advancements in datasets and computer sciences, AI is enabling problem-solving and revolutionizing various applications in life science analytics such as drug discovery, clinical trials, medical diagnosis, patient monitoring, and personalized medicine. According to the International Business Machines Corporation, 35% of companies worldwide are currently using AI, and 42% are aiming to embed AI into their processes and applications. As a result, the increasing adoption of AI is predicted to drive significant growth in the life science analytics market.
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Who Are the Key Players Driving AI In Life Science Analytics Global Market Report 2024 Growth?
Notable companies operating in the AI in life science analytics market include:
• 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.
What Are The Key Trends In The AI In Life Science Analytics Global Market Report 2024?
Key emerging trends in the AI in life science analytics market include:
• Augmented reality (AR) in healthcare
• Digital biomarkers analysis
• Continuous learning algorithms
• Remote patient monitoring
• Personalized medicine
What Are The Segments Of The Global AI In Life Science Analytics Global Market Report 2024?
The AI in life science analytics market can be segmented as follows:
• By Component: Software, Hardware, Services
• By Deployment: On-Premise, Cloud
• By Application: Research And Development, Sales And marketing Support, Supply Chain Analytics, Other Applications
• By End-User: Medical Devices, Pharmaceutical, Biotechnology, Other End Users
Which Region Leads The AI In Life Science Analytics Global Market Report 2024?
North America led the global AI in life science analytics market in 2024, with the fastest-growing region expected to be Asia-Pacific throughout the forecast period. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The AI In Life Science Analytics Global Market Report 2024 Global Market Report?
- Market Size Analysis: Analyze the AI In Life Science Analytics Global Market Report 2024 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the AI In Life Science Analytics Global Market Report 2024 for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall AI In Life Science Analytics Global Market Report 2024 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the AI In Life Science Analytics Global Market Report 2024.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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