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2025 Artificial Intelligence In Life Sciences Market Outlook: Key Indicators Shaping Growth Through 2034
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Artificial Intelligence In Life Sciences Industry Market Size Be by 2025?
The market size of artificial intelligence in life sciences has experienced significant growth recently. Its value is projected to increase from $2.92 billion in 2024 to $3.61 billion in 2025, with a compound annual growth rate (CAGR) of 23.7%. This growth seen in the historical period is due to factors such as a rise in clinical trials, growing embrace of AI in research and development, and a strong focus on the creation of precision medicine and personalized drugs.
What's the Long-Term Growth Forecast for the Artificial Intelligence In Life Sciences Market Size Through 2029?
The market size of artificial intelligence in life sciences is anticipated to experience significant expansion in the coming years. The expectation is for it to surge to $8.45 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 23.7%. The growth during this projected period may be due to the rising focus on real-time remote patient monitoring (rpm) systems, amplified demand for AI in pharmaceutical discovery, and the growing integration of AI in the analysis of medical imaging. Key trends predicted during this period involve strategic alliances, innovations in product, advancements in technology, both investments and research as well as development.
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What Are the Key Growth Drivers Fueling the Artificial Intelligence In Life Sciences Market Expansion?
The growing fascination with real-time systems for monitoring patients remotely (RPM) is anticipated to fuel the expansion of the artificial intelligence industry within the life sciences sector. RPM technology is a healare system powered by advanced tech created to oversee people's health outside customary healare environments. AI's role in life sciences is majorly perceptible in remote patient monitoring, offering incessant, personalized, and data-driven insights the aid proactive healare administration. For instance, as per a survey initiated by Livelink, a digital healare firm based in the US, in August 2023, the usage of remote patient monitoring by clinicians rose by 20% in 2021 to 81% in 2022, registering a significant 305% increment. Thus, the growing fascination for real-time remote patient monitoring systems is propelling the expansion of the AI market within the life sciences sector.
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What Are the Key Trends Driving Artificial Intelligence In Life Sciences Market Growth?
Leading corporations in the life sciences' artificial intelligence industry are concentrating on producing innovative products with technological enhancements, such as drug discovery applications, in order to retain their market dominance. Drug discovery software is a type of computer application developed to support pharmaceutical and biotech researchers in their quest to discover new medications. For instance, in December 2023, the German science and technology company Merck introduced AIDDISON, an innovative drug discovery software. This pioneering software, a first of its kind, blends virtual molecular design with practical manufacturability, applying generative AI, machine learning, and computer-aided drug design. AIDDISON efficiently pinpoints drug candidates from a multitude of possibilities, weighing important attributes like non-toxicity and solubility. This software's potential to link virtual molecular design and practical manufacturability marks a significant use of artificial intelligence within the life sciences domain.
How Is the Artificial Intelligence In Life Sciences Market Segmented?
The artificial intelligence in life sciences market covered in this report is segmented -
1) By Offering: Software, Hardware, Services
2) By Deployment: On-Premises, Cloud-Based
3) By Application: Drug Discovery, Medical Diagnosis, Biotechnology, Clinical Trails, Precision And Personalized Medicine, Patient Monitoring
Subsegments:
1) By Software: Drug Discovery Software, Genomic Analysis Software, Clinical Trial Management Software, Personalized Medicine Software, Laboratory Information Management Systems (LIMS)
2) By Hardware: AI-Enabled Laboratory Equipment, Robotics And Automation Systems, Imaging Devices And Equipment, Sensor Technologies
3) By Services: Consulting Services, Data Analytics Services, Research And Development Services, Implementation And Integration Services, Training And Support Services
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Which Companies Are Leading the Charge in Artificial Intelligence In Life Sciences Market Innovation?
Major companies operating in the artificial intelligence in life sciences market report are Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Medtronic PLC, Nvidia Corporation, Novo Nordisk A/S, Siemens Healthineers AG, Philips Healare, Babylon Healare Services Ltd., Komodo Health Inc., Modernizing Medicine Inc., Viz.ai Inc., Butterfly Network Inc., Agueda, AiCure LLC, HealthTap Inc., Welltok Inc., Enlitic Inc., PathAI Inc., Nano-X Imaging Ltd., Berg LLC, Inserto, Sense.ly Inc., Subtle Medical Inc., Med sense Biometrics Limited, Immune, Atomwise Inc., Freenome Holdings Inc., Clouded Inc.
Which Regions Are Leading the Global Artificial Intelligence In Life Sciences Market in Revenue?
North America was the largest region in the Artificial Intelligence In Life Sciences market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in life sciences market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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