AI In Life Science Analytics Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Hardware, Services); By Deployment; By Application; By End-user; By Region; Segment Forecast, 2023 - 2032

AI In Life Science Analytics Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Hardware, Services); By Deployment; By Application; By End-user; By Region; Segment Forecast, 2023 - 2032

The global ai in life science analytics market size is expected to reach USD 4,067.97 million by 2032, according to a new study by Polaris Market Research. The report “AI In Life Science Analytics Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Hardware, Services); By Deployment; By Application; By End-user; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising prevalence of AI adoption in clinical trials all over the world is expected to become a major driving force for the market over the forecast period. Pharma firms have been investing in the development of AI solutions that assist to read or scan big datasets faster and more precisely help in the growth of the market. Also, massive expenditures made by US-based pharmaceutical corporations in drug research and clinical trials help in the growth of the market.

IQVIA established an AI-powered contact center for the life sciences, in September 2021, allowing enterprises to communicate regarding their recent products while also monitoring product safety & quality. In order to prioritize and answer inquiries, the center employs AI-enabled virtual agents in addition to human specialists. Sorcero announced the release of Clarity in March 2022, which gives the medical affairs team an integrated perspective across all areas of scientific interaction. Furthermore, medical teams may monitor and track medical material at scale using Sorcero’s powerful analytics.

AI In Life Science Analytics Market Report Highlights

Service segment is anticipated to grow at a significant CAGR over the forecast period owing to increasing demand for third-party service providers that supply technically equipped staff to handle the pricey AI systems.

Cloud segment sector is expected to hold a significant market share over the forecast period due to the increase in the number of people infected with this virus as a result of encounters with animals in the wild will favor market expansion.

Sales & Marketing segment sector is expected to hold a significant market share over the forecast period due to marketing automation, improved personalization, decreased mistakes, and smarter and faster decision-making skills.

Pharmaceutical sector is expected to hold a significant revenue share due to the increased use of AI technologies in manufacturing, clinical trials, and drug development processes in the pharmaceutical industry.

North America is expected to dominate the market over the projected period on account of the higher demand for AI technologies, improved digital literacy, and high investment in the AI analytics market in that region increasing the market growth.

The global players include Indegene, IBM, IQVIA, SAS Institute Inc., Databricks, Lexalytics, Sisense, Sorcero. Atomwise, Inc., NuMedii, Inc., AiCure LLC., Nuance Communications, Inc., APIXIO, Inc., Insilico Medicine, Inc., Enlitic, Inc.

Polaris Market Research has segmented the AI in life science analytics market report based on component, deployment, application, end-use, and region:

AI In Life Science Analytics, Component Outlook (Revenue, USD Million, 2019-2032)

Software

Hardware

Services

AI In Life Science Analytics, Deployment Outlook (Revenue, USD Million, 2019-2032)

On-premise

Cloud

AI In Life Science Analytics, Application Outlook (Revenue, USD Million, 2019-2032)

Research and Development

Sales and Marketing support

Supply chain analytics

Others

AI In Life Science Analytics, End-user Outlook (Revenue, USD Million, 2019-2032)

Medical Devices

Pharmaceutical

Biotechnology

Others

AI In Life Science Analytics, Regional Outlook (Revenue – USD Million, 2019-2032)

North America

U.S

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa