Artificial
Intelligence (AI) is majorly a data-driven technology which is capable of
making difficult decisions almost in the range of human intellectual
capabilities. In the life sciences sector, it is generally employed to make valuable
relations from loosely combined data. With the emergence of the third wave of
AI, it is projected that advanced AI solutions in the present market scenario
can learn and develop as they are being used. Moreover, the incorporation of AI
life sciences solutions into the mobile application sector is projected to be
the major driver of AI solutions in the near future. While the enormous demand
for artificial intelligence in life sciences applications such as drug
discovery and patient monitoring are creating new opportunities. Moreover, due
to the high foreign investments in the pharmaceutical sector, Asia Pacific
countries are anticipated to witness the most substantial growth for AI
solutions over the forecast period. In addition to this, the clinical trials
are data-intensive tasks which require continuous patient monitoring and produce
huge sets of data every day. Subjecting these data sets to intelligent AI
algorithms can assists the researchers to filter valuable correlation even
between loosely coupled data. This is promoting various pharmaceutical
companies and clinical research organizations to invest in these technologies such
as Artificial Intelligence. In present scenario, swift adoption of AI is widely
observed in the pharmaceutical sector which is responsible for almost 50% of
the clinical trials conducted across the world every year. However, the lack of skilled workforce and heavy
initial costs involved with AI technology is likely to restrain the growth in
the market.
In
addition, the rising number of clinical trials all over the world is generating
colossal amounts of data which is available in the public domain. This is
helping promoting several research institutes to prefer AI over conventional
software solutions so that they can attain specific results from data available
in the public domain without having to repast the entire trial procedure.
The
global Artificial Intelligence in Life Sciences Market is segregated on the
basis of Type as Machine Learning, Deep Learning and Neural Networks. Based on End
Use Industry the global Artificial Intelligence in Life Sciences Market is
segmented in Drug Discovery, Pre–Clinical, Clinical, Drug Approval, Patient
Monitoring and Others.
The
global Artificial Intelligence in Life Sciences Market report provides
geographic analysis covering regions, such as Europe, North America, Asia
Pacific, and Rest of The World. The Artificial Intelligence in Life Sciences
Market for each region is further segmented for major countries including the
U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil,
South Africa, and others.
Competitive Analysis
IBM
Corporation, NuMedii Inc., Atomwise Inc, Lifegraph, Cyrcadia Health Inc. and
others are among the major players in the global Artificial Intelligence in
Life Sciences Market. The companies studied in terms of product strategy and
various n several growth and expansion strategies to gain a competitive edge in
the market. The major players not only follow value chain integration with
business operations in multiple stages of the value chain.
- In
September 2020, IBM Watson Health and Pharmaspectra declared a strategic
collaboration, as per which IBM Watson Health would withdraw IBM Stakeholder
Manager from its portfolio and provide a transition path for its clients to
LINK, Pharmaspectra’s product, a provider of key opinion leader (KOL)
management solutions. IBM Watson Health strategies to streamline its portfolio
by emphasizing on new strategies and innovations for assisting support life sciences
clients through the further stages of digital transformation.
- In
January 2021, the Bioclinica, a solutions provider of clinical life science and
technology expertise, has acquired Saliency. Bioclinica will combine the
company's AI technology into its imaging platform to support a rising portfolio
of pharmaceutical and medical device clients.
- In
January 2021, Kao Data a Harlow-based colocation provider has included
artificial intelligence (AI)-enabled startup InstaDeep to its customer roster
of high-performance computing (HPC) clients.
- In
February 2018, Medtronic Plc., a major medical devices company based in
Ireland, introduced its AI-enabled Sugar.IQ diabetes management app, which is supported
by IBM Watson Health. Watson is projected to facilities capabilities to the app
which assess user’s blood sugar levels in response to variables which include
food intake and insulin dosing.
The global Artificial Intelligence in Life Sciences
Market has been segmented as below:
Artificial
Intelligence in Life Sciences Market, By Type
- Machine Learning
- Deep Learning
- Neural Networks
Artificial
Intelligence in Life Sciences Market, By End Use Industry
- Drug Discovery
- Pre–Clinical
- Clinical
- Drug Approval
- Patient Monitoring
- Others
Artificial
Intelligence in Life Sciences Market, By Region
- Europe
- North America
- Asia Pacific
- Rest of The World
Artificial
Intelligence in Life Sciences Market, By Company
- IBM Corporation
- NuMedii Inc.
- Atomwise Inc
- Lifegraph
- Cyrcadia Health Inc.
- Numerate Inc.
- Sensely Inc.
- Sophia Genetics SA
- Insilico Medicine Inc.
- Enlitic Inc.
- APIXIO Inc.
- Zebra Medical Vision
- Lifegraph Limited
- twoXAR Inc.
- AiCure LLC
- The
report covers the below scope:
- Global Artificial Intelligence in
Life Sciences Market sizes from 2020 to 2026, along with CAGR for 2020-2026
- Market size comparison for 2019 vs
2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to
2026
- Global Artificial Intelligence in
Life Sciences Market trends, covering comprehensive range of consumer trends
& manufacturer trends
- Value chain analysis covering
participants from raw material suppliers to the downstream buyer in the global Artificial
Intelligence in Life Sciences Market
- Major market opportunities and
challenges in forecast timeframe to be focused
- Competitive landscape with analysis
on competition pattern, portfolio comparisons, development trends and strategic
management
- Comprehensive company profiles of
the key industry players
The
years considered for the study are as follows:
- Base year - 2019
- Estimated year - 2019
- Projected year - 2020
- Forecast period - 2021 to 2026
Report
Scope:
The global Artificial Intelligence in Life Sciences
Market report scope includes detailed study covering underlying factors
influencing the industry trends. The report covers analysis on regional and
country level market dynamics. The scope also covers competitive overview
providing company market shares along with company profiles for major revenue
contributing companies. The report scope includes detailed competitive outlook
covering market shares and profiles key participants in the global Artificial
Intelligence in Life Sciences Market share. Major industry players with
significant revenue share include IBM Corporation, NuMedii
Inc., Atomwise Inc, Lifegraph, Cyrcadia Health Inc. and others.
Why to
Buy this Report:
- Gain detailed insights on the Artificial Intelligence in Life Sciences industry trends
- Find complete analysis on the
market status
- Identify the Artificial
Intelligence in Life Sciences Market opportunities and growth segments
- Analyse competitive dynamics by
evaluating business segments & product portfolios
- Facilitate strategy planning and
industry dynamics to enhance decision making
Target
Audience:
- The report targeted towards the existing players in
the industry is as follows:
- Market Manufacturers/Service Providers
- Market Wholesale/Traders
- Investment and Financial
Institutions
Free
and Paid Customization based on the requirement