The global artificial intelligence in life sciences market size attained a value of USD 2209.90 Million in 2024, driven by the rapid technological advancements. The market is expected to grow at a CAGR of 24.70% during the forecast period of 2025-2034 to achieve a value of USD 20092.65 Million by 2034.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
24.7%
Value in USD Million
2025-2034
Artificial Intelligence in Life Sciences Market Outlook
*this image is indicative*
AI-based programs are capable of scrutinising and cross-referencing through large and complex datasets quickly and accurately, resulting in a more precise list of likely drug options in a shorter duration of time. For example, Buoy Health is an AI-based chatbot that listens to patients’ health issues and related symptoms, and through algorithms, suggests the most appropriate therapy.
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Enlitic offers deep learning medical tools that assess unstructured records (images, medical history, blood tests, genome reports, EKGs) and helps doctors address patients’ real-time needs.
Drug development is a tedious, time-consuming, and expensive method that entails screening a large number of probable molecules. Further, it takes several years and a significant amount of money to introduce a new drug to the market. AI helps compile the substantial amounts of data obtained from numerous sources (such as research labs and hospitals) in a compatible format, which, in turn, is propelling the artificial intelligence in life sciences market development further.
AI also helps develop better healthcare networks and protocols, expediting their introduction in the market at a reasonable price. In 2021, EY announced the launch of EY Smart Reviewer, a novel technology-driven solution for the life sciences sector. It leveraged AI and natural language processing to help accelerate and improve the process to review materials employed to market pharmaceutical and medical device products. The EY Smart Reviewer solution enabled pharmaceutical and medical technology companies to automate the MLR process and significantly reduce review and approval timelines for modular content, driving faster speed to market for essential medicines.
Artificial Intelligence in Life Sciences Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Offering
Market Breakup by Deployment
Market Breakup by Application
Market Breakup by End User
Market Breakup by Region
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The application of AI in medicine includes machine learning (ML) (virtual aspect) and deep learning (DL) (physics aspect); in DL, AI is performed by robots. Robotic surgery is a domain that has been gaining significant interest. Today, surgeries may be carried out at sites that were earlier inaccessible with the help of technology like the da Vinci surgical system. Advancements in technology have enabled interaction between humans and robots that enables human surgeons to operate surgical robots through touchless manipulation. Such manipulation is made possible through hand or head movements, voice and speech recognition, or the surgeon's gaze. These developments are expected to contribute to the artificial intelligence in life sciences market growth in the coming years.
Further, artificial intelligence (AI) is set to transform the pharmaceutical cold chain in the next few years. Companies are seeking to develop applications to utilise machine learning to generate predictive data on environmental hazards in the biopharmaceutical cold chain cycle. AI is expected to play a key role in domains including analytical decision-making (by aggregating and analysing data from several sources, AI-based systems could offer complete visibility with predictive data), supply chain management (SCM), inventory management, warehouse automation, and others.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
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The market attained a value of USD 2209.90 Million in 2024, driven by the rising technological advancements in the market.
The market is expected to grow at a CAGR of 24.70% to attain a value of USD 20092.65 Million by 2034.
The major drivers of the market include the growing investment in technologies, increasing number of clinical trials, invest in R&D activities, and rising application in initiating drug discovery and development.
The high demand for AI solutions and an increase in the amount of health and “omics-related” data generated and stored are the key trends propelling the market's growth.
The offerings in the market include software, hardware, and services.
The deployment modes in the market can be categorised into on-premises and cloud.
The technology finds wide applications in research and development, drug discovery and clinical trials, biotechnology, surgery and treatment, precision and personalized medicine, medical diagnosis, and patient monitoring, among others.
The end-users can be categorised into healthcare providers, pharmaceutical and biotechnology companies, patients, and payer, among others.
The regional markets can be categorised into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The key players can be categorised into IBM Corporation, NuMedii Inc., Atomwise Inc, AiCure LLC, Nuance Communications Inc., Databricks, IQVIA, SAS Institute Inc., Sorcero, and Indegene.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Offering |
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| Breakup by Deployment |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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