Artificial Intelligence in Life Sciences Market Booming at a CAGR of 30% by 2023
PUNE, India, August 29, 2018 /PRNewswire-iReach/ -- Artificial intelligence in life sciences market is expected to grow at a CAGR of over 30% during the forecast period (2018 - 2023).
The report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Artificial Intelligence in Life Sciences production region, major players, and product type which will provide a simplified view of the Artificial Intelligence in Life Sciences industry. The Artificial Intelligence in Life Sciences market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Artificial Intelligence in Life Sciences market which will help the emerging market segments in making vital business decisions.
Global Artificial Intelligence in Life Sciences Market by Top Manufacturers (2018-2023): Ibm Corporation, Aicure, Llc, Numedii, Inc., Twoxar, Inc., Atomwise Inc., Lifegraph Limited, Cyrcadia Health Inc, Zebra Medical Vision, Apixio, Inc., Enlitic, Inc., Insilico Medicine, Inc., Numerate, Inc., Sophia Genetics Sa, And Sensely Inc., Amongst Others.
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Essential points covered in Artificial Intelligence in Life Sciences Market 2018 Research are:-
- What will the market size and the growth rate be in 2023?
- What are the key factors driving the Artificial Intelligence in Life Sciences market?
- What are the key market trends impacting the growth of the Artificial Intelligence in Life Sciences market?
- What are the challenges to market growth?
- Who are the key vendors in the Artificial Intelligence in Life Sciences market?
- What are the market opportunities and threats faced by the vendors in the Artificial Intelligence in Life Sciences market?
- What are the key outcomes of the five forces analysis of the Artificial Intelligence in Life Sciences market?
This independent 115 pages report guarantees you will remain better informed than your competition. With figures examining the Artificial Intelligence in Life Sciences market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader's market revenue forecasts as well as analysis to 2023.
Clinical Trials to Provide Immense Opportunities
Clinical Trails are data-intensive tasks that need continuous patient monitoring and generate vast sets of data every day. Subjecting these data sets to intelligent AI algorithms can help the researchers to filter 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, rapid adoption of AI is widely seen in the pharmaceutical sector who are responsible for almost 50% of the clinical trials conducted globally every year.
Further, the increasing number of clinical trials all over the globe is producing colossal amounts of data that is available in the public domain. This is helping 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 to repast the entire trial procedure. According to the International Clinical Trials Registry Platform database, maintained by World Health Organization (WHO), more than 25556 cases were registered (135 growth when compared to 2016). Over the forecast period, these numbers are expected to increase by at least 11%, creating new opportunities for AI in clinical trials applications.
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Asia-Pacific to be the Fastest Growing Artificial Intelligence in Life Sciences Market
The demand for Artificial intelligence in the life sciences sector of Asia Pacific region is majorly found in the drug discovery and clinical trials applications. As countries like India, China, Malaysia, and Indonesia are increasingly becoming global centers for medical tourism foreign investment in the sector is increasing rapidly. In case of India, the government has undertaken several initiatives to encouraging public-private partnerships (PPPs) in pharmaceutical R&D projects and is increasingly investing in medical infrastructure.
Simultaneously, in China, the government has pledged to create an industrial scale of medical services by 2020, which includes inception of a new digital health trail for all citizens in the country. Over the forecast period, in China alone, more than a 100 medical data demonstration centers are expected to be established which enable sharing of health and medical data resources. This scenario is likely to accelerate the use of artificial intelligence applications in the life sciences industry of the region, leading to essential opportunities for AI, especially in clinical research and medical equipment sectors.
Reasons to Purchase This Report
- Current and future artificial intelligence in life sciences market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter's five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
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