[Updated] AI In Life Science Analytics Market 2024 Research Report
Artificial intelligence plays a vital role in our daily lives. Presently AI is often used for extraction of learning from data, searching models in data, generating predictive patterns, accelerating imitation, performing disaster analysis, and executing predictive modeling. The rapidly rising demand for AI in life science analytics market can be attributed to the generation of extra data, contemporary imaging and sequence methods are becoming much more economical, and this becomes simpler to generate extensive data sets.
AI-powered technology can examine and cross-reference large and complex data sets bringing about more dependable data in less time. AI is licensed by intricate algorithms that create a measurable influence on the life science industry. AI, with the help of ML, helps life sciences companies is advancing treatments more speedily and competently. When it comes to advancing and manufacturing treatments for cancer and other rare diseases, AI plays an important role.
Explore the AI In Life Science Analytics Market with a Free Sample Copy Before Purchasing the Research Report.
What Does the Report Include?
· This report entails an in-depth quantitative analysis together with prevalent in-market trends to identify existing opportunities along with a strategic assessment
· The market size and evaluation are dependent on a comprehensive analysis of critical developments in the industry
· A qualitative market analysis dependent on analytic products clears the way for strategic business planning
· The development strategies acquired by key market players are enlisted to comprehend the competitive scenario of the market
Growth Driving Factors
· Coping with the compact fragment of molecules to push the market
Clinical trials need an exhaustive process that can be solved with the assistance of AI. AI in life science analytics market size is expanding due to screening and analysis of a compact fragment of molecules are time-consuming and costly; therefore, to cope with such procedures, pharma companies have been tirelessly funding the development of AI tools that assist in elucidating or scanning intricate databases speedily and more precisely.
AI in life science analytics market sales are soaring as several governments globally are taking measures to encourage AI and its influence on the healthcare and life science industry. For instance, the White House founded the National Artificial Intelligence Office in early January 2021 to review and acquire the United States’ national AI strategy. Due to Trump Administration’s actions, the US remains the world leader in AI.
Purchase a Full Detail Report With Complete TOC: https://www.polarismarketresearch.com/buy/1887/2
Recent Developments
In August 2022, CloudMedX initiated the ACO REACH explorer to blend and showcase diverse data while enhancing health equality and Omni channel patient interplay.
Segmental Analysis
The services segment is anticipated to witness the fastest growth
Based on components, the services segment is anticipated to witness the fastest growth as it can supply firms with speedy, precise, and dependable data. AI in life science analytics market demand is increasing as businesses are progressively engrossed in fusing AI algorithms into analytical solutions. The advancement of data analytics organization’s services and growing technical associations are pushing the segment’s growth.
The cloud segment accounted for the largest market share
Based on deployment, the cloud segment accounted for the largest market share. AI in life science analytics market trends include increasing internet reach, the generation of creative cloud-based services, growing expenditures in the field of IT and telecommunications infrastructure, and ease of operations linked with cloud-based servers are the prominent drivers.
Also, Browse, Artificial Intelligence (AI) in Precision Medicine Market Report, 2023–2032
Geographic Overview
Escalated demand for AI technologies to drive the North American market
North America held the most significant AI in life science analytics market share due to escalated demand for AI technologies, enhanced digital literacy, and advancements in life science analytics in the region; all contributed to the expansion. Additionally, the US has several prominent pharmaceutical and biotech firms. The excessive expenditures made by US-based pharmaceutical corporations in drug research and clinical trials have culminated in a significant demand for AI analytics.
Asia Pacific is forecast to advance at the speediest rate throughout the forecast period due to escalated expenses by several research firms in using AI software and hardware to enhance operational efficiency. Several businesses in Asia Pacific are concentrating more on applying AI-based analytical tools to improve operational efficiency, which is also crucial for market growth.
Competitive Insight
Some prominent AI in life science analytics market key players include Indegene, IBM, IQVIA, SAS Institute, Databricks, Lexalytics, Sisense, and Sorcero. Atomwise, NuMedii, AiCure LLC., Nuance Communications, APIXIO, Inc., Insilico Medicine, Enlitic, Inc.
Frequently Asked Questions
· What is the total market value?
· What is the critical industry leader’s opinion for the market?
· Which is the base year calculated in the market report?
· What are the key trends in the market report?
· Which market holds the maximum market share?
By Component Outlook
· Software
· Hardware
· Services
By Deployment Outlook
· On-premise
· Cloud
By Application Outlook
· Research and Development
· Sales and Marketing support
· Supply chain analytics
· Others
By End User Outlook
· Medical Devices
· Pharmaceutical
· Biotechnology
· Others
By Region Outlook
· North America (U.S., Canada)
· Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
· Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
· Latin America (Brazil, Mexico, Argentina)
· Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
