Press release
Global AI In Life Science Analytics Industry Outlook 2025-2029: Market Set to Cross $5.23 Billion Milestone
AI In Life Science Analytics
How Large Will the AI In Life Science Analytics Market Size By 2025?
The market size for AI in life science analytics has seen a significant expansion in the past few years. It is projected to increase from $2.27 billion in 2024 to $2.63 billion in 2025, reflecting a compound annual growth rate (CAGR) of 15.8%. Factors contributing to this upward trend in the previous period include investment in research and development, alterations in regulations, difficulties in drug discovery, the digitization of healthcare, and the shift towards patient-focused treatment.
How Big Is the AI In Life Science Analytics Market Size Expected to Grow by 2029?
Anticipated robust growth is on the horizon for the ai in life science analytics market in the coming years, with the size projected to reach $5.23 billion by 2029, expanding at a compound annual growth rate (CAGR) of 18.7%. Contributing factors to the forecasted growth within this period include opportunities in drug rediscovery, the embrace of real-world evidence, the progression of genomics, the utilization of value-based healthcare models, and the expansion of telemedicine. Furthermore, the forecast period is expected to see prominent trends, such as the application of augmented reality (AR) in healthcare, analysis of digital biomarkers, continuous learning algorithms in use, remote monitoring of patients, and individually tailored medicine.
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Which Key Market Drivers Powering AI In Life Science Analytics Market Expansion and Growth?
The escalated incorporation of AI in various sectors is predicted to spur the expansion of AI in the life science analytics market in the future. Defined as a discipline that blends data and computational sciences to aid in problem resolution, Artificial Intelligence also includes machine learning and deep learning techniques that are commonly brought up in conjunction with AI. The application of Artificial Intelligence in life science analytics spans different purposes, such as drug development, clinical trials, medical diagnosis, patient monitoring, and custom-tailored medicine. For example, data from the International Business Machines Corporation, an American technology firm in 2022, indicates that 35% of businesses globally are already making use of AI, while 42% are planning to integrate AI into their systems and applications. Thus, the rising integration of AI is acting as a growth propellant for the AI in the life science analytics market in the future.
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Which Fast-Growing Trends Are Poised to Disrupt the AI In Life Science Analytics Market?
The key trend observed in the AI sector of life science analytics is technological advancement. In order to maintain their market position, leading firms are adopting modern technology. For example, BioLizard, a biotech company based in Belgium, introduced its innovative AI-driven BioVerse platform for data-driven R&D in the global life sciences sector in October 2023. The platform is devised to offer customized, simple-to-use software solutions generating data-focused outcomes, designed for biotech and pharma scientists, irrespective of their IT knowledge. The platform includes three applications: Bio|Reflect, supporting unbiased literature searches with global publication overviews; Pro|Biome, utilizing data analytics for microbiome analysis; and Bio|Mx, which integrates and analyses multi-omics datasets using AI. BioVerse aims to bolster data-driven discovery, and preclinical, translational, and clinical R&D activities in the life science industry by incorporating AI-based solutions. This initiative affirms BioLizard's dedication to delivering AI- centred solutions to reinforce data-driven discovery and R&D tasks in the life sciences industry.
What Are the Emerging Segments in the AI In Life Science Analytics Market?
The ai in life science analyticsmarket 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
Subsegments:
1) By Software: Data Analysis Software, Predictive Analytics Tools, Machine Learning Platforms, Visualization Software, Clinical Trial Management Software
2) By Hardware: Servers, Storage Solutions, Workstations, Networking Equipment
3) By Services: Consulting Services, Integration Services, Support And Maintenance, Data Management Services, Training Services
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Who Are the Global Leaders in the AI In Life Science Analytics Market?
Major 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.
Which are the Top Profitable Regional Markets for the AI In Life Science Analytics Industry?
North America was the largest region in the AI in life science analytics market in 2024. 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
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