What Is The Predicted Revenue Outlook For The Global Artificial Intelligence In Life Sciences Market To Surpass $8.42 Billion?
Claim your 20% discount on Global Market Reports with code ONLINE20. Limited time only.
What Are The Market Size Estimates For The Artificial Intelligence In Life Sciences Market?
The market size of artificial intelligence in life sciences has seen significant expansion recently. From $2.92 billion in 2024, it is set to increase to $3.59 billion by 2025, representing a compound annual growth rate (CAGR) of 23.2%. Factors that have contributed to its growth over the historic period include an upsurge in clinical trials, a heightened use of AI in research and development, and a strong focus on creating precision medicine and personalized drugs.
The market size for artificial intelligence in life sciences is projected to experience a significant surge in the coming years, expanding to $8.42 billion in 2029 with a compound annual growth rate (CAGR) of 23.7%. The growth anticipated during the forecast period can be linked to the rising interest in real-time remote patient monitoring (rpm) systems, enhanced demand for AI in the realm of drug discovery, and an increased rate of AI incorporation in the analysis of medical imaging. The forecast period is also set to feature major developments such as strategic alliances, product innovation, technological progress, investments, as well as research and developments.
Get A Free Sample Of The Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13587&type=smp
Which Industry Forces Are Driving The Artificial Intelligence In Life Sciences Market Forward?
The rise in the use of real-time remote patient monitoring (RPM) systems is anticipated to fuel the expansion of artificial intelligence in the life sciences market. RPM systems are innovative healthcare solutions that monitor patient health outside conventional healthcare environments. AI plays a critical role in the life sciences by enhancing remote patient monitoring through continuous, personalized, and data-driven feedback, enabling proactive healthcare management. For instance, a survey conducted by the digital health company, Livelink, based in the US, showed that in August 2023, clinician’s use of RPM systems surged from 20% in 2021 to 81% in 2022 – a 305% increase. Therefore, the growing interest in RPM systems is contributing to the growth of artificial intelligence in the life sciences market.
How Is The Artificial Intelligence In Life Sciences Market Organized By Different Segments?
The artificial intelligence in life sciencesmarket covered in this report is segmented –
1) By Offering: Software; Hardware; Services
2) By Deployment: On-Premises; Cloud-Based
3) By Application: Drug Discovery; Medical Diagnosis; Biotechnology; Clinical Trails; Precision And Personalized Medicine; Patient Monitoring
Subsegments:
1) By Software: Drug Discovery Software; Genomic Analysis Software; Clinical Trial Management Software; Personalized Medicine Software; Laboratory Information Management Systems (LIMS)
2) By Hardware: AI-Enabled Laboratory Equipment; Robotics And Automation Systems; Imaging Devices And Equipment; Sensor Technologies
3) By Services: Consulting Services; Data Analytics Services; Research And Development Services; Implementation And Integration Services; Training And Support Services
What Future-Focused Trends Are Anticipated In The Artificial Intelligence In Life Sciences Market?
Prominent firms in the artificial intelligence space in the field of life sciences are concentrating on the production of avant-garde products with advanced technology such as drug discovery software, to maintain their market standing. Drug discovery software is a type of computer program built to aid pharmaceutical and biotech researchers in finding new drugs. For example, in December 2023, Merck, a scientific and technological firm originating from Germany, launched AIDDISON – an innovative drug discovery software, a first in its class. It integrates the design of virtual molecules with practical manufacturability, leveraging generative AI, machine learning, and computer-aided drug design tools. AIDDISON effectively pinpoints drug candidates from immense possibilities, evaluating key features like non-toxicity and solubility. The capacity of AIDDISON to –link virtual molecular design with tangible manufacturability demonstrates a significant application of artificial intelligence within the life sciences domain.
Who Are The Primary Market Leaders In The Artificial Intelligence In Life Sciences Market?
Major companies operating in the artificial intelligence in life sciences market report are Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Medtronic PLC, Nvidia Corporation, Novo Nordisk A/S, Siemens Healthineers AG, Philips Healthcare, Babylon Healthcare Services Ltd., Komodo Health Inc., Modernizing Medicine Inc., Viz.ai Inc., Butterfly Network Inc., Agueda, AiCure LLC, HealthTap Inc., Welltok Inc., Enlitic Inc., PathAI Inc., Nano-X Imaging Ltd., Berg LLC, Inserto, Sense.ly Inc., Subtle Medical Inc., Med sense Biometrics Limited, Immune, Atomwise Inc., Freenome Holdings Inc., Clouded Inc.
Access The Complete Report Here:
How Do Regional Dynamics Influence The Artificial Intelligence In Life Sciences Market Performance?
North America was the largest region in the Artificial Intelligence In Life Sciences market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in life sciences market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Customize Your Report Here:
https://www.thebusinessresearchcompany.com/customise?id=13587&type=smp
Browse Through More Reports Similar to the Global Artificial Intelligence In Life Sciences Market 2025, By The Business Research Company
Enterprise Artificial Intelligence Global Market Report 2025
Artificial Intelligence Chipsets Global Market Report 2025
Artificial Intelligence In Hr Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/artificial-intelligence-in-hr-global-market-report
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
