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The Global Artificial Intelligence in Life Sciences Market Size is Expected to Grow at a CAGR of 28.7% by 2027

The Global Artificial Intelligence in Life Sciences Market Size, Report and Forecast 2022-2027′ by Expert Market Research, provides an in-depth overview of the global Artificial Intelligence in Life Sciences market, evaluating the market on the basis of its segments such as application and major regions.

Artificial Intelligence in Life Sciences Market Size, Trends, Industry Report, Key Player, Major Segments and Forecast

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Key highlights of the report include:

Market Overview (2017-2027)

• Forecast CAGR (2022-2027): 28.7%

Report attribute Details
Historical period 2017-2021
Forecast period 2022-2027
base year 2021
Growth rate CAGR 28.7%
Main actors IBM Corporation, NuMedii Inc., Atomwise Inc, AiCure LLC, Nuance Communications Inc. among others.

The growing applications of AI in the life sciences sector are expected to drive the growth of the global artificial intelligence in life sciences market. While internet giants like Google, Apple, and Amazon have been using artificial intelligence (AI) for years, big pharma and life sciences, including biomedicine and healthcare, are increasingly using more AI.

The market has benefited from the growing reliance of life science and biopharmaceutical companies on AI during COVID-19 to choose potential vaccine and drug candidates, organize virtual trials, accelerate drug research at distance and improve supply chain resilience.

Artificial Intelligence in Life Science Industry Definition and Major Segments

Data mining, engineering, real-time analytics, and algorithmic analysis are enabled by AI and contribute to the pharmaceutical industry’s ability to respond to major disruptions in the business value chain. These areas include AI-based drug discovery, reducing clinical trial cycle times, supply chain transformation, product failure prediction, risk management, analytics and visualization. real-time medical devices, behavioral sciences, improved reporting systems and new drug development.

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By Application, the market is segmented into:

• Medical diagnosis
• Biotechnology
• Drug discovery
• Precision and personalized medicine
• Clinical tests
• Patient monitoring.

The EMR report examines the regional Artificial Intelligence in Life Sciences markets such as:

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa

Artificial Intelligence in Life Sciences Market Trends

Machine learning (ML) and deep learning (DL) are two ways to use AI in medicine. Deep learning (DL) is an AI performed by robots. The field of robotic surgery has recently attracted a lot of attention. Surgery can now be performed in places that were previously inaccessible thanks to technology like the da Vinci Surgical System.

Technological advancements have allowed humans and robots to interact, thus enabling human surgeons to use contactless surgical robots. Through the use of hand or head movements, speech and voice recognition, or the surgeon’s gaze, such manipulation is made possible. In the coming years, these advancements are expected to help the market for artificial intelligence in life sciences to flourish.

AI has the potential to reduce costs associated with research and development (R&D). To capitalize on the opportunities offered by technology, a number of major pharmaceutical companies have partnered with or purchased AI companies; these affiliations focus on both clinical trials and drug discovery. Process automation, large-scale data analysis, and stakeholder interaction are all supported by AI technologies.

Government efforts to promote the use of AI in research activities are fueling the steady expansion of the market. Market expansion is expected to be supported by increased investments made by life science companies in artificial intelligence, cognitive computing developments, and machine learning techniques.

Main market players

Key Players of the Global Artificial Intelligence in Life Sciences Market are:

  • IBM Corporation
  • NuMedii Inc
  • Atomwise Inc
  • AiCure LLC
  • Nuance Communications Inc.
  • Others

The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

The report studies the latest market updates along with their impact on the market. It also analyzes market demand, along with its price and demand indicators. The report also tracks the market based on SWOT and Porter’s Five Forces models.

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