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Global Artificial Intelligence In Life Sciences Market To be Driven by the High Demand For AI Solutions in The Forecast Period Of 2022-2027

The new report by Expert Market Research titled, ‘Global Artificial Intelligence in Life Sciences Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global artificial intelligence in life sciences market, assessing the market based on its segments like applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Forecast CAGR (2022-2027): 28.7%

The amount of health and “omics-related” data created and stored has increased dramatically in recent years. While tech companies like Google, Apple, and Amazon have been using artificial intelligence (AI) for years, its usage in life sciences and big pharma, particularly biomedicine and healthcare, has been growing. AI has aided in the collection of patient and clinical trial data for medication development and repurposing; in clinical trials, patient data can be gathered in real-time and evaluated using AI techniques. Mobile technologies linked to AI are increasingly used to improve patients’ lives. Researchers use the potential of machines to improve diagnoses with the help of imaging in multiple medical specialities, including dermatology, radiology, pathology, and ophthalmology. Such factors are expected to boost the global market growth.

Industry Definition and Major Segments

The analysis of small systems-of-interest specialised datasets, an emerging topic of artificial intelligence (AI), can be used to improve drug discovery and personalised medicine. Artificial intelligence in the life sciences has the potential to improve the health-care system, particularly customised treatment, and drug discovery.

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By application, the market is segmented into:

• Medical Diagnosis
• Biotechnology
• Drug Discovery
• Precision and Personalised Medicine
• Clinical Trials
• Patient Monitoring

On the basis of region, the market is segmented into:

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

Market Trends

Advancements in AI have enabled the completion of several tasks in radiological imaging, including risk assessment, diagnosis, prognosis, and response to various medicines, along with the discovery of diseases using a variety of ‘omics’ technologies. AI platforms have the potential to access digitised patient health records and recommend the best treatment plan. Also, through continuous monitoring of multiple parameters, AI may advise doctors to adjust doses or, in the event of a change in symptoms, to update the current treatment and replace it with a more effective alternative. With the rise of cyber threats and the evasion of signature-based systems, smart cyber solutions are becoming more important to protect the enormous volumes of data that biopharma businesses control and have access to. AI-based approaches could help cybersecurity specialists by improving threat intelligence and prediction, as well as enabling faster attack detection and response. These characteristics are propelling the market growth globally.

Key Market Players

The major players in the market are IBM Corporation, NuMedii Inc., Atomwise Inc, AiCure LLC, and Nuance Communications Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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