+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Artificial Intelligence In Life Sciences Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

  • PDF Icon

    Report

  • 143 Pages
  • October 2023
  • Region: Global
  • IMARC Group
  • ID: 5656554
Description Jump to:
The global artificial intelligence in life sciences market size reached US$ 1.9 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 8.2 Billion by 2028, exhibiting a growth rate (CAGR) of 25.7% during 2023-2028..

Artificial intelligence (AI) is a highly data-driven technology that is used in life sciences to collect, analyze, and manage data of patients. It is commonly employed for medical diagnosis, clinical trials, drug discovery, biotechnology, patient monitoring, precision, and personalized medicine. It is also utilized for producing personalized treatments, formulating drugs, diagnosing diseases, and introducing therapies and robotic surgeries. AI in life sciences helps reshape business models, enhance cognitive molecule research and workflow, and streamline biopharmaceutical manufacturing. It also saves valuable time, improves efficiency, reduces overall costs, enhances customer experience, and eliminates human error.

Artificial Intelligence In Life Sciences Market Trends:

At present, the rising prevalence of complex diseases, such as cancer, represents one of the key factors impelling the market growth. AI in life sciences is widely used to design effective drug combinations with specific molecular targets for patients. Additionally, the growing number of clinical trials across the globe is resulting in the surging production of colossal amounts of data available in the public domain. This, in turn, is creating lucrative opportunities for the market growth. Apart from this, the introduction of reliable and advanced cloud computing infrastructure that can easily manage, share, and store data and help improve organizational operations as per the requirements are providing a boost to the market. Moreover, the growing need to analyze and interpret large volumes of structured and unstructured clinical data is acting as another growth-inducing factor. Apart from this, extensive research and development (R&D) activities, rising utilization of robotics surgeries, and the implementation of various government initiatives to advance the medical infrastructure are anticipated to drive the market toward growth in the forecasted period.

Key Market Segmentation

The report provides an analysis of the key trends in each sub-segment of the global artificial intelligence in life sciences market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on offering, deployment and application.

Breakup by Offering:

  • Software
  • Hardware
  • Services

Breakup by Deployment:

  • On-premises
  • Cloud-based

Breakup by Application:

  • Drug Discovery
  • Medical Diagnosis
  • Biotechnology
  • Clinical Trails
  • Precision and Personalized Medicine
  • Patient Monitoring

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being AiCure LLC, Apixio Inc. (Centene Corporation), Atomwise Inc, Enlitic Inc., International Business Machines Corporation, Insilico Medicine Inc., Nuance Communications Inc., NuMedii Inc., Sensely Inc. and Sophia Genetics SA.

Key Questions Answered in This Report:

  • How has the global artificial intelligence in life sciences market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global artificial intelligence in life sciences market?
  • What are the key regional markets?
  • What is the breakup of the market based on the offering?
  • What is the breakup of the market based on the deployment?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global artificial intelligence in life sciences market and who are the key players?
  • What is the degree of competition in the industry?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Artificial Intelligence In Life Sciences Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Offering
6.1 Software
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Hardware
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Services
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Deployment
7.1 On-premises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cloud-based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Application
8.1 Drug Discovery
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Medical Diagnosis
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Biotechnology
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Clinical Trails
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Precision and Personalized Medicine
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Patient Monitoring
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 AiCure LLC
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Apixio Inc. (Centene Corporation)
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Atomwise Inc
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Enlitic Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 International Business Machines Corporation
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Insilico Medicine Inc.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Nuance Communications Inc.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 SWOT Analysis
14.3.8 NuMedii Inc.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Sensely Inc.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Sophia Genetics SA
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
List of Figures
Figure 1: Global: Artificial Intelligence In Life Sciences Market: Major Drivers and Challenges
Figure 2: Global: Artificial Intelligence In Life Sciences Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Artificial Intelligence In Life Sciences Market: Breakup by Offering (in %), 2022
Figure 5: Global: Artificial Intelligence In Life Sciences Market: Breakup by Deployment (in %), 2022
Figure 6: Global: Artificial Intelligence In Life Sciences Market: Breakup by Application (in %), 2022
Figure 7: Global: Artificial Intelligence In Life Sciences Market: Breakup by Region (in %), 2022
Figure 8: Global: Artificial Intelligence In Life Sciences (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Artificial Intelligence In Life Sciences (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Artificial Intelligence In Life Sciences (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Artificial Intelligence In Life Sciences (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Artificial Intelligence In Life Sciences (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Artificial Intelligence In Life Sciences (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Artificial Intelligence In Life Sciences (On-premises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Artificial Intelligence In Life Sciences (On-premises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Artificial Intelligence In Life Sciences (Cloud-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Artificial Intelligence In Life Sciences (Cloud-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Artificial Intelligence In Life Sciences (Drug Discovery) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Artificial Intelligence In Life Sciences (Drug Discovery) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Artificial Intelligence In Life Sciences (Medical Diagnosis) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Artificial Intelligence In Life Sciences (Medical Diagnosis) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Artificial Intelligence In Life Sciences (Biotechnology) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Artificial Intelligence In Life Sciences (Biotechnology) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Artificial Intelligence In Life Sciences (Clinical Trails) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Artificial Intelligence In Life Sciences (Clinical Trails) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Artificial Intelligence In Life Sciences (Precision and Personalized Medicine) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Artificial Intelligence In Life Sciences (Precision and Personalized Medicine) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Artificial Intelligence In Life Sciences (Patient Monitoring) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Artificial Intelligence In Life Sciences (Patient Monitoring) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: North America: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: North America: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: United States: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: United States: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Canada: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Canada: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Asia-Pacific: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Asia-Pacific: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: China: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: China: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Japan: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Japan: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: India: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: India: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: South Korea: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: South Korea: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Australia: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Australia: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Indonesia: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Indonesia: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Others: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Others: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Europe: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Europe: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Germany: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Germany: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: France: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: France: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: United Kingdom: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: United Kingdom: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Italy: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Italy: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Spain: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Spain: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Russia: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Russia: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Latin America: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Latin America: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Brazil: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Brazil: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Mexico: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Mexico: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Others: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Others: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Middle East and Africa: Artificial Intelligence In Life Sciences Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Middle East and Africa: Artificial Intelligence In Life Sciences Market: Breakup by Country (in %), 2022
Figure 78: Middle East and Africa: Artificial Intelligence In Life Sciences Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Global: Artificial Intelligence In Life Sciences Industry: SWOT Analysis
Figure 80: Global: Artificial Intelligence In Life Sciences Industry: Value Chain Analysis
Figure 81: Global: Artificial Intelligence In Life Sciences Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Artificial Intelligence In Life Sciences Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Artificial Intelligence In Life Sciences Market Forecast: Breakup by Offering (in Million US$), 2023-2028
Table 3: Global: Artificial Intelligence In Life Sciences Market Forecast: Breakup by Deployment (in Million US$), 2023-2028
Table 4: Global: Artificial Intelligence In Life Sciences Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Artificial Intelligence In Life Sciences Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Artificial Intelligence In Life Sciences Market: Competitive Structure
Table 7 Global: Artificial Intelligence In Life Sciences Market: Key Players

Companies Mentioned

  • AiCure LLC
  • Apixio Inc. (Centene Corporation)
  • Atomwise Inc
  • Enlitic Inc.
  • International Business Machines Corporation
  • Insilico Medicine Inc.
  • Nuance Communications Inc.
  • NuMedii Inc.
  • Sensely Inc.
  • Sophia Genetics SA.

Methodology

Loading
LOADING...

Table Information

Report AttributeDetails
No. of Pages143
PublishedOctober 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 1.9 Billion
Forecasted Market Value ( USD ) by 2028 $ 8.2 Billion
Compound Annual Growth Rate27.6%
Regions CoveredGlobal
No. of Companies Mentioned10

Related Topics

Related Reports

Artificial Intelligence (AI) - Global Strategic Business Report - Product Image

Artificial Intelligence (AI) - Global Strategic Business Report

  • Report
  • 1222 Pages
  • Global
From
United States Artificial Intelligence Market, Competition, Forecast & Opportunities, 2028 - Product Image

United States Artificial Intelligence Market, Competition, Forecast & Opportunities, 2028

  • Report
  • 89 Pages
  • United States
From
Artificial Intelligence Systems Spending Global Market Report 2024 - Product Image

Artificial Intelligence Systems Spending Global Market Report 2024

  • Report
  • 175 Pages
  • Global
From
Global Artificial Intelligence-as-a-Service Market Report by Technology, Organizations Size, Vertical, and Region 2024-2032 - Product Image

Global Artificial Intelligence-as-a-Service Market Report by Technology, Organizations Size, Vertical, and Region 2024-2032

  • Report
  • 138 Pages
  • Global
From
Edge AI Software Market by Offering (Solutions (Standalone and Integrated) and Services), Data Type (Video & Image Data, Audio Data, Text & Language Data, Biometric Data, and Multi-modal Data), Vertical and Region - Global Forecast to 2028 - Product Image

Edge AI Software Market by Offering (Solutions (Standalone and Integrated) and Services), Data Type (Video & Image Data, Audio Data, Text & Language Data, Biometric Data, and Multi-modal Data), Vertical and Region - Global Forecast to 2028

  • Report
  • 331 Pages
  • Global
From
Copyright © 2002-2024 Research and Markets. All Rights Reserved.