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Report
Artificial Intelligence In Life Sciences Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-10-15 I 143 Pages I IMARC Group
Market Overview:
The global artificial intelligence in life sciences market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group 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:
IMARC Group 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?
1 Preface
2 Scope and Methodology
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 Executive Summary
4 Introduction
4.1Overview
4.2Key Industry Trends
5 Global Artificial Intelligence In Life Sciences Market
5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast
6 Market Breakup by Offering
6.1Software
6.1.1 Market Trends
6.1.2 Market Forecast
6.2Hardware
6.2.1 Market Trends
6.2.2 Market Forecast
6.3Services
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Deployment
7.1On-premises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2Cloud-based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Application
8.1Drug Discovery
8.1.1 Market Trends
8.1.2 Market Forecast
8.2Medical Diagnosis
8.2.1 Market Trends
8.2.2 Market Forecast
8.3Biotechnology
8.3.1 Market Trends
8.3.2 Market Forecast
8.4Clinical Trails
8.4.1 Market Trends
8.4.2 Market Forecast
8.5Precision and Personalized Medicine
8.5.1 Market Trends
8.5.2 Market Forecast
8.6Patient Monitoring
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1North 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
9.2Asia-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
9.3Europe
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
9.4Latin 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
9.5Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1Overview
12.2Bargaining Power of Buyers
12.3Bargaining Power of Suppliers
12.4Degree of Competition
12.5Threat of New Entrants
12.6Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
14.3.1AiCure LLC
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2Apixio Inc. (Centene Corporation)
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3Atomwise Inc
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4Enlitic Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5International 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
14.3.6Insilico Medicine Inc.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7Nuance Communications Inc.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 SWOT Analysis
14.3.8NuMedii Inc.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9Sensely Inc.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10Sophia Genetics SA
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
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
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
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