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Increased AI use is likely to boost innovation in AI in life sciences analytics manufacturing, propelling the market during the forecast period.

The global AI in the life sciences analytics market is expected to grow from $1.67 billion in 2022 to $1.96 billion in 2023 at a compound annual growth rate (CAGR) of 17.3%. The global AI in life science analytics market size is expected to reach $3.70 billion in 2027 at a CAGR of 17.2%.

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Global AI In The Life Sciences Analytics Market Segments Include:

• 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
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global AI in the life sciences analytics market in 2021.

Major Market Players in the AI in the life sciences analytics market include Indigene Limited, IBM Corporation, IQVIA Holdings Inc., Lexalytics Inc., Databricks Inc., SAS Institute Inc., Sisense Inc., Sorcero Atomwise Inc., Microsoft Corporation, NVIDIA Corporation.

The primary trend driving interest in AI in the life science analytics industry is technological advancement. To maintain their market position, major companies in the AI in life science analytics market are implementing new technologies. For example, SciBite Limited, a UK-based data analytics company, announced the debut of “SciBite AI,” a cutting-edge artificial intelligence software platform for life science data, in September 2020. This “SciBite AI platform” provides machine learning models as well as semantic technologies to aid in the discovery of insights in life sciences data. It is specifically developed for the development of machine-learning models and allows researchers and scientists to apply semantics-based deep learning.

The AI In The Life Sciences Analytics Global Market Report 2023  provides a AI in the life sciences analytics market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The AI in the life sciences analytics market forecast analyzes AI in the life sciences analytics market size, AI in the life sciences analytics market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

In life sciences analytics, artificial intelligence refers to the technology utilised for data analysis and the transformation of unstructured data into usable insights and information. It is employed in clinical studies, allowing for novel drug discoveries and more precise and accurate disease diagnosis.

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