By 2032, AI (Artificial Intelligence) in Life Science Analytics Market Size Expected to Surge to USD 4,067.97 Million, at 10.8% CAGR: Says, Polaris Market Research

According to the [115+ Pages] research study; the global AI (Artificial Intelligence) in Life Science Analytics Market in 2022 was approximately USD 1,458.75 Million. The market is expected to grow at a CAGR of 10.8% and is anticipated to reach around USD 4,067.97 Million by 2032. Top market players are Indegene, IBM, IQVIA, SAS Institute Inc., Databricks, Lexalytics, Sisense, Sorcero. Atomwise, Inc., NuMedii, Inc., AiCure LLC and others.


New York, NY, Jan. 04, 2023 (GLOBE NEWSWIRE) -- The latest research report [115+] pages with 360-Degree visibility, titled "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" published by Polaris Market Research in its research repository.

According to the research study, the global AI (Artificial Intelligence) in Life Science Analytics Market was estimated at USD 1,458.75 Million in 2022 and is expected to reach USD 4,067.97 Million By 2032. The global AI (Artificial Intelligence) in Life Science Analytics Market is expected to grow at a compound annual growth rate (CAGR) of 10.8% from 2023 to 2032.

What is AI In Life Science Analytics? What is the Projected Size of AI In Life Science Analytics Market in 2032?

  • Report Overview

AI or artificial intelligence is becoming essential technology in various industry sectors. AI is now bringing evolution to the life sciences companies and the future of the healthcare sector. Life sciences companies are widely incorporating AI into big data to enhance the capability of machines to form profitable decisions and correct prospects of events. AI in life science analytics can help companies reshape business models, improve clinical trial data flow, and streamline biopharma manufacturing.

AI also has the ability to automate workflows more efficiently, as well as convert insights into actions to boost business performance. Thus it finds numerous applications in the pharmaceutical industry. Increasing applications of AI in the pharmaceutical and life sciences industries for regulatory compliance reporting, marketing, and sales assistance, and product and service enablement in less time with high efficiency is majorly driving the AI in life science analytics market growth.

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Our Sample Report May Includes:

  • 2032 Updated Report Introduction, Overview, and In-depth industry analysis
  • 115+ Pages Research Report (Inclusion of Updated Research)
  • Provide Chapter-wise guidance on the Request
  • 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes Updated List of tables & figures
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis

Some of the Top Market Players Are:

  • Indegene
  • IBM
  • IQVIA
  • SAS Institute
  • Databricks
  • Lexalytics
  • Sisense
  • Sorcero.
  • Atomwise
  • NuMedii
  • AiCure LLC.
  • Nuance Communications
  • APIXIO Inc.
  • Insilico Medicine
  • Enlitic Inc

Competitive Insight

The report provides a competitive landscape of the market by providing the business profiles of various top-level industries. The report offers viewpoints significant for the new participants and current industry players alongside a detailed examination of the significant worth chain. Competitor strategies like product launches, mergers & acquisitions, joint ventures, and the respective effect on sales, imports, export, and revenue are studied completely within the report.

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Major Attributes of the Market Report

  • Investigation of the present status and future estimations of the market.
  • Geographical outlook of AI in life science analytics market study based on major regions.
  • Evaluation of industry growth factors along with the detailed study of present market segments.
  • Detailed analysis of segments, sub-segments, and environmental factors for understanding market expansion.
  • Comprehensive understanding of the market with respect to drivers, restraints, opportunities, and feasibility study.

Growth Driving Factors

  • Growing adoption of AI in drug development procedures is favoring the market growth

The increasing use of AI in developing and manufacturing treatments for cancers and other rare diseases is fueling the adoption of AI, which is fueling the AI in life science analytics market size. Due to the factors such as high development costs, inefficient clinical trial success rates, dropping return on investments, and an increased focus on rare diseases, the drug discovery process is becoming increasingly inefficient. Thus, AI can help overcome these issues while developing drugs. AI is widely used in life science analytics to track risk, estimate clinical trial efficacy, provide tailored treatment, evaluate profits and budget, streamline product pricing, and anticipated development. These benefits are fostering AI in the life science analytics industry expansion.

Moreover, rising investments by pharma firms in the development of AI solutions to accelerate the clinical trials procedure are expected to propel market growth. Also, a growing number of initiatives by various governments throughout the world, such as a new program launched in order to promote AI and its influence on the healthcare and life science industries, is anticipated to flourish the demand for AI in the life science analytics market. For instance, in early January 2021, the White House formed the National Artificial Intelligence Initiative Office to review and implement the United States' national AI policy.

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Key Highlights of the report

  • Based on component segmentation, services are expected to lead the market during the forecast period
  • Based on deployment segmentation, the cloud is predicted to dominate the market in the coming years
  • On the basis of application segmentation, sales & marketing are expected to show maximum market share in the forecast period
  • Based on end-user segmentation, the pharmaceutical will record considerable shares during the anticipated period.
  • In terms of region, North America was the major revenue generator

Segmental Analysis

  • The services segment is projected to grow at the fastest growth

By component AI in life science analytics market segmentation, the market divisions are Software, Hardware, and Services. The highest revenue is expected to be generated by the services segment owing to the increasing adoption of AI in analytics due to its capability of supplying companies with rapid, correct, and valid data. The growing integration of artificial intelligence algorithms into analytical solutions is driving segment growth, thereby boosting AI in life science analytics market sales. The increasing development of data analytics firms' services, coupled with a growing number of technical partnerships, are enhancing the segment's growth.

  • The cloud segment witnessed the highest market share in 2022

Based on deployment, the cloud category held the largest revenue share and is expected to maintain its dominance over the forecast period. Factors like rising internet penetration, developments of innovative cloud-based services, and increasing expenditures in the growth of IT and telecommunications infrastructure are augmenting the cloud sector growth in the market. Further, cloud-based AI smoothens workloads and automates repeated processes, increasing overall efficiency, which is boosting segment growth in the market.

  • The sales & Marketing sector is projected to account for a significant revenue share

In terms of application, sales & marketing are anticipated to lead the market over the foreseen period owing to the benefits offered by AI, such as marketing automation, decreased mistakes, better personalization, and smarter and faster decision-making skills. Large enterprises that supply solutions are widely adopting AI in the sales and marketing departments in order to compete in the competitive environment. This rising adoption by major organizations is fueling the sales & marketing sector segment growth.

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AI (Artificial Intelligence) in Life Science Analytics Market: Report Scope

Report Attribute Details
Revenue forecast in 2032 USD 4,067.97 Million
Market size value in 2023 USD 1,613.67 Million
Expected CAGR Growth 10.8% from 2023 - 2032
Base Year 2022
Forecast Year 2023 - 2032
Top Market Players 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.
Segments Covered By Component, By Deployment, By Application, By End-user, By Region
Customization Options Customized purchase options are available to meet any research needs. Explore customized purchase options

Regional Analysis

  • The AI in life science analytics market demand in North America is likely to hold the major market share

Based on geography, North America accounted for the highest revenue share owing to the rising demand for AI technologies, enhanced digital literacy, and developments in life science analytics in the area. The presence of several leading pharmaceutical and biotech firms in the United States is driving the AI in life science analytics market growth in the region. Also, rising expenditures in drug research and clinical trials by US-based pharmaceutical companies are fueling the demand for AI analytics.

Moreover, Asia Pacific is anticipated to grow at a faster rate over the forecast period. The key factors supporting regional growth include a surge in expenditures by various research companies to enhance operational efficiency.

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Recent Developments

  • In August 2022, CloudMedx announced the ACO REACH Explorer to integrate and display diverse data while also improving health equality and Omni channel patient interaction.
  • In October 2021, Ever Fortune.AI and Medexprim unveiled their strategic alliance to enhance healthcare analytics and the creation of medical AI.

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

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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