Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) — The “Artificial Intelligence (AI) in Life Sciences Market” report has been added to ResearchAndMarkets.com’s offering.
The global market for artificial intelligence (AI) in life sciences was $8 billion in 2023. Mass spectrometry technology innovation and biomarker development are helping the market grow, and it is expected to reach $33.5 billion by the end of 2029. The market is forecast to grow at a CAGR of 27.9% from 2024 through 2029.
The report includes an in-depth analysis of trends in the global AI market for life sciences, covering market revenue data from 2021 to 2023, with estimates for 2024 and projected CAGRs through 2029. It provides detailed estimates of the current market size and revenue prospects, and a comprehensive market share analysis based on product segment, application, end user, and region.
Key aspects of the report include facts and figures related to market dynamics, current and emerging technologies, and the regulatory landscape, along with the expected impact of macroeconomic factors on the industry. It identifies AI products and technologies with the highest commercial potential, focusing on their applications in life sciences, particularly in precision medicine and personalized healthcare.
The report also highlights ESG developments and sustainability trends, emphasizing consumer attitudes, companies’ ESG score rankings, and ESG practices. Additionally, it reviews patent activity and key patent grants relevant to AI in life sciences.
An analysis of the industry structure is provided, covering companies’ market shares, merger and acquisition activity, and the outlook for venture funding. The report profiles leading companies in the field, such as AiCure LLC, Apixio Inc., Atomwise Inc., BenevolentAI, and NuMedii Inc.
Key Highlights:
- By product, software had the highest share of 65.6% in 2023, and this segment is expected to achieve a CAGR of 30.4% over the forecast period.
- By application, the clinical and molecular diagnostics segment had the highest share of 28.9% in 2023. This segment is expected to grow at a CAGR of 27.6% during the forecast period.
- By end user, the contract research organization segment had the highest share of 64.5% in 2023. This segment is expected to grow at a CAGR of 29.2% during the forecast period.
- In terms of market share, North America was the largest worldwide region in 2023, followed by Europe, Asia-Pacific, and the rest of the world. The North American market is projected to grow at a CAGR of 28.1% over the forecast period.
Company Profiles
- AiCure
- Apixio
- Atomwise Inc.
- Benevolentai
- Enlitic Inc.
- Numedii Inc.
- Recursion
- Zebra Technologies Corp.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $9.8 Billion |
| Forecasted Market Value (USD) by 2029 | $33.5 Billion |
| Compound Annual Growth Rate | 27.9% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1: Executive Summary
- Outlook
- Scope of Report
- Market Summary
Chapter 2: Market Overview
- Artificial Intelligence in Drug Discovery
- Intelligence in Molecular Diagnostics
- Artificial Intelligence in Clinical Diagnostics
- Artificial Intelligence in Clinical Trials
- Artificial Intelligence in Precision Medicine
Chapter 3: Market Dynamics
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
Chapter 4: Emerging Technologies and Developments
- Clinical Trials
- Clinical Trials, by Status
- Clinical Trials, by Study
- Granted Patents
Chapter 5: Market Segmentation Analysis
Market Analysis, by Product
Market Analysis, by Application
- Drug Discovery
- Clinical and Molecular Diagnostics
- Clinical Trials
- Precision and Personalized Medicine
Market Analysis, by End User
- Market Analysis and Forecast
- Contract Research Organizations
- Research Centers and Academic Institutes
- Pharmaceutical and Biotechnology Companies
Market Analysis, by Region
Chapter 6: Competitive Intelligence
- Top Players and Products
- Strategic Analysis
- Mergers and Acquisitions
- Funding
For more information about this report visit https://www.researchandmarkets.com/r/jf18o2
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- Artificial Intelligence (AI) in Life Sciences Market
