Key Insights into the Artificial Intelligence In Life Sciences Market: Trends, Growth Rate, and Opportunities Through 2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers Contributing to the Growth and Expansion of the Artificial Intelligence In Life Sciences Market?
Rising interest in real-time remote patient monitoring (RPM) systems is predicted to boost the expansion of artificial intelligence in the life sciences market. RPM system is a technological medical solution that tracks patient health outside standard healthcare environments. AI plays a crucial role in life sciences, particularly in RPM systems, by offering continuous, personalized, and data-driven insights for proactive health management. This was evidenced in Livelink’s survey in August 2023, a digital healthcare firm from the US, where clinical usage of RPM systems saw a 20% growth from 2021 to 2022, showing an overall increase of 305%. Hence, rising enthusiasm for real-time RPM systems fuels artificial intelligence’s growth in the life sciences market.
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#How Does the ProjectedArtificial Intelligence In Life Sciences Market Growth Compare Over the Forecast Period?
There has been tremendous growth in the market size of artificial intelligence within the life sciences sector in the past few years. The market, which is set to increase from $2.92 billion in 2024 to $3.61 billion in 2025, will do so at a compound annual growth rate (CAGR) of 23.7%. This substantial progress during the historic period is largely due to the rise in clinical trials, greater implementation of AI in research and development, as well as a strong focus on development of precision medicine and personalized drugs.
Within the next few years, it’s projected that the market size for artificial intelligence in life sciences will witness exponential growth. The market is expected to elevate to $8.45 billion by 2029, with a compound annual growth rate (CAGR) of 23.7%. Factors contributing to this projected growth include heightened interest in real-time remote patient monitoring systems, a rising demand for AI in drug discovery, and an increased use of AI in medical imaging analysis. Key trends anticipated throughout this forecast period encompass strategic alliances, product innovation, technological progress, investments, and research and development initiatives.
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What New Market Trends Are Reshaping theArtificial Intelligence In Life Sciences Market and Its Opportunities?
Major corporations in the life sciences artificial intelligence market are concentrating their efforts on the launch of innovative products featuring technological advancements, such as software for drug discovery, to maintain their market standing. This software category is engineered to help researchers in pharmaceutical and biotechnology to facilitate the discovery of novel drugs. For instance, in December 2023, Merck, a scientific and technological company based in Germany, revealed AIDDISON – a revolutionary software program for drug discovery. This innovative tool, the first of its kind, merges virtual molecule design with the feasibility of real-world production, employing technologies such as generative AI, machine learning, and computer-aided drug design. AIDDISON is capable of effectively pinpointing potential drug candidates from a vast pool of options, evaluating key properties such as non-toxicity and solubility. Notably, its proficiency in bridging the gap between the virtual design of molecules and their real-world producibility marks a significant application of artificial intelligence within the life sciences sphere.
Who Are the Leading Market Players Fueling Growth in the Artificial Intelligence In Life Sciences Market Trend?
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.
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How is the Global Artificial Intelligence In Life Sciences Market Segemented?
The artificial intelligence in life sciences market 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
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Which Geographics are Influencing the Growth of the Artificial Intelligence In Life Sciences Market?
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.
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