The Global Artificial Intelligence In Life Sciences Market Research Report Forecast 2020 – 2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The report also takes into account the impact of the novel COVID-19 pandemic on the Artificial Intelligence In Life Sciences market and offers a clear assessment of the projected market fluctuations during the forecast period. The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehend Artificial Intelligence In Life Sciences data that enhances the understanding, scope, and application of this report.
The artificial intelligence in life sciences market was valued at USD 1,101.1 million in 2019, and it is estimated to be worth USD 4,893.1 million by 2025, registering a CAGR of 29.42% during the forecast period (2020 – 2025).
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Top Key players in the Artificial Intelligence In Life Sciences Market are Zebra Medical Vision, twoXAR, Inc, Atomwise Inc, NuMedii, Inc, IBM Corporation, Lifegraph Limited, Enlitic, Inc, Cyrcadia Health Inc, Insilico Medicine, Inc, Numerate, Inc, APIXIO, Inc, Sensely Inc, Sophia Genetics SA, AiCure, LLC and Others.
– Jun 2020 – The University of Kentucky announced a research collaboration with Atomwise, an industry leader in using artificial intelligence (AI) for small molecule discovery, to explore potential COVID-19 therapies.
– Mar 2020 – IBM Watson Health and EBSCO Information Services (EBSCO) announced a strategic collaboration aimed toward enhancing clinical decision support (CDS) and operations for healthcare providers and health systems. The companies are combining their respective solution suites DynaMed and IBM Micromedex with Watson into a single, global solution called “DynaMed and Micromedex with Watson.” The combined solution suite will be designed to bring together drug and disease content, into a single source for evidence-based insights to help inform clinical decisions.
Key Market Trends:
Clinical Trials is Expected to Hold a Significant Market Share
– Clinical trials are one of the most data-intensive tasks in the life sciences industry. They generate vast sets of data everyday monitoring, several variables of a patient under observation. Subjecting these data sets to intelligent AI algorithms can help the researchers to screen meaningful correlation even between loosely coupled data.
– This is encouraging many pharmaceutical companies and clinical research organizations to invest in technologies, like artificial intelligence. In the current market scenario, the rapid adoption of AI is widely seen in the pharmaceutical sector, which are responsible for almost 50% of the clinical trials conducted globally every year.
– Furthermore, the increasing number of clinical trials all over the world is producing colossal amounts of data that is available in the public domain. Over the forecast period, these numbers are expected to increase by at least 11%, creating new opportunities for AI in clinical trial applications, especially in Europe and North America.
– Such rapid growth in clinical trials and public availability of data is helping and encouraging many research institutes to prefer AI over traditional software solutions so that they can obtain specific results from data available in the public domain without having the entire trial procedure. Additionally, many countries, like China, the United States, and several European countries, are making clinical trial data available in the public domain supporting the growth of AI solutions, globally.
Highlights of TOC:
Market Overview: It starts with a product overview and scope of the global Artificial Intelligence In Life Sciences market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Artificial Intelligence In Life Sciences market size analysis for the review period 2015-2025.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Artificial Intelligence In Life Sciences market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Artificial Intelligence In Life Sciences market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Artificial Intelligence In Life Sciences report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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