The Artificial Intelligence in Life Sciences Market

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

1.      Introduction

1.1.       Key Points

1.2.      Report Description

1.3.      Markets Covered

1.4.      Stakeholders

2.     Research Methodology

2.1.      Research Scope

2.2.     Research Methodology

2.2.1.     Market Research Process

2.2.2.    Research Methodology

2.2.2.1.           Secondary Research

2.2.2.2.          Primary Research

2.2.2.3.          Models for Estimation

2.3.     Market Size Estimation

2.3.1.     Bottom-Up Approach

2.3.2.    Top-Down Approach

3.     Executive Summary

4.    Market Overview

4.1.      Introduction

4.2.     Drivers

4.3.     Restraints

4.4.     Opportunities

4.5.     Challenges

5.     Artificial Intelligence in Life Sciences Market, By Type

5.1.      Key Points

5.2.  Machine Learning

5.3.  Deep Learning

5.4.  Neural Networks

6.    Artificial Intelligence in Life Sciences Market, By End Use Industry

6.1.      Key Points

6.2. Drug Discovery

6.3. Pre–Clinical

6.4. Clinical

6.5.  Drug Approval

6.6. Patient Monitoring

6.7.  Others

7.     Competitive Landscape

7.1.      Introduction

7.2.     Start-up companies- Artificial Intelligence in Life Sciences Market

7.3.     Recent Developments

7.3.1.      Mergers & Acquisitions

7.3.2.     New Product Developments

7.3.3.     Portfolio/Production Capacity Expansions

7.3.4.     Joint Ventures, Collaborations, Partnerships & Agreements

7.3.5.     Others

8.    Company Profile

8.1.  IBM Corporation

8.2. NuMedii Inc.

8.3. Atomwise Inc

8.4. Lifegraph

8.5. Cyrcadia Health Inc.

8.6. Numerate Inc.

8.7.  Sensely Inc.

8.8. Sophia Genetics SA

8.9. Insilico Medicine Inc.

8.10.    Enlitic Inc.

8.11.     APIXIO Inc.

8.12.    Zebra Medical Vision

8.13.    Lifegraph Limited

8.14.    twoXAR Inc.

8.15.    AiCure LLC