The North America AI In Life Science Analytics Market should witness market growth of 9.8% CAGR during the forecast period (2022-2028).
AI-powered technology enables the examination and cross-referencing of large and complex datasets, which provides highly accurate data in less time. Complex algorithms that have a measurable effect on the life science sector are therefore benefitted from the quick data processing speeds of AI.
The technology also helps life science companies in developing therapies more swiftly and effectively with the use of machine learning. AI plays a vital role in the development and production of medicines for cancer and other uncommon diseases. As the prevalence of noncommunicable diseases is rising globally, the high output of AI processing is establishing the technology as indispensable.
Additionally, AI can assist with the labor-intensive process required for clinical trials. Pharmaceutical and biopharmaceutical companies have been actively investing in the development of AI technologies owing to their numerous benefits. This helps companies read or scan complex datasets more quickly and accurately to deal with operations because screening and analysis of a small subset of compounds are time-consuming and expensive.
The high number of COVID-19 cases in the region drove the usage of life science analytics to a maximum. During this period, many regional pharmaceutical companies made it a priority to develop a treatment that produced several drug candidates and raised the requirement of trials, especially in the US. For new drug development and drug discovery companies, analytics are crucial for tracking trials and management of its data.
The high number of COVID-19 cases in the region drove the usage of life science analytics to a maximum. During this period, many regional pharmaceutical companies made it a priority to develop a treatment that produced several drug candidates and raised the requirement of trials, especially in the US. For new drug development and drug discovery companies, analytics are crucial for tracking trials and management of its data.
The US market dominated the North America AI In Life Science Analytics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $738.2 million by 2028.The Canada market is poised to grow at a CAGR of 12.2% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 11.3% during (2022-2028).
Based on End-user, the market is segmented into Pharmaceutical, Medical Devices, Biotechnology and Others. Based on Application, the market is segmented into Sales & Marketing Support, Supply Chain Analytics, Research & Development and Others. Based on Deployment, the market is segmented into Cloud and On-premise. Based on Component, the market is segmented into Services, Hardware and Software. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wipro Limited, Lexalytics, Inc., Databricks, Inc., SAS Institute, Inc., Sisense, Inc., IQVIA Holdings, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, and Accenture PLC.
AI-powered technology enables the examination and cross-referencing of large and complex datasets, which provides highly accurate data in less time. Complex algorithms that have a measurable effect on the life science sector are therefore benefitted from the quick data processing speeds of AI.
The technology also helps life science companies in developing therapies more swiftly and effectively with the use of machine learning. AI plays a vital role in the development and production of medicines for cancer and other uncommon diseases. As the prevalence of noncommunicable diseases is rising globally, the high output of AI processing is establishing the technology as indispensable.
Additionally, AI can assist with the labor-intensive process required for clinical trials. Pharmaceutical and biopharmaceutical companies have been actively investing in the development of AI technologies owing to their numerous benefits. This helps companies read or scan complex datasets more quickly and accurately to deal with operations because screening and analysis of a small subset of compounds are time-consuming and expensive.
The high number of COVID-19 cases in the region drove the usage of life science analytics to a maximum. During this period, many regional pharmaceutical companies made it a priority to develop a treatment that produced several drug candidates and raised the requirement of trials, especially in the US. For new drug development and drug discovery companies, analytics are crucial for tracking trials and management of its data.
The high number of COVID-19 cases in the region drove the usage of life science analytics to a maximum. During this period, many regional pharmaceutical companies made it a priority to develop a treatment that produced several drug candidates and raised the requirement of trials, especially in the US. For new drug development and drug discovery companies, analytics are crucial for tracking trials and management of its data.
The US market dominated the North America AI In Life Science Analytics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $738.2 million by 2028.The Canada market is poised to grow at a CAGR of 12.2% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 11.3% during (2022-2028).
Based on End-user, the market is segmented into Pharmaceutical, Medical Devices, Biotechnology and Others. Based on Application, the market is segmented into Sales & Marketing Support, Supply Chain Analytics, Research & Development and Others. Based on Deployment, the market is segmented into Cloud and On-premise. Based on Component, the market is segmented into Services, Hardware and Software. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wipro Limited, Lexalytics, Inc., Databricks, Inc., SAS Institute, Inc., Sisense, Inc., IQVIA Holdings, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, and Accenture PLC.
Scope of the Study
By End-user
- Pharmaceutical
- Medical Devices
- Biotechnology
- Others
By Application
- Sales & Marketing Support
- Supply Chain Analytics
- Research & Development
- Others
By Deployment
- Cloud
- On-premise
By Component
- Services
- Hardware
- Software
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Wipro Limited
- Lexalytics, Inc.
- Databricks, Inc.
- SAS Institute, Inc.
- Sisense, Inc.
- IQVIA Holdings, Inc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Accenture PLC
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America AI In Life Science Analytics Market, by End-user
1.4.2 North America AI In Life Science Analytics Market, by Application
1.4.3 North America AI In Life Science Analytics Market, by Deployment
1.4.4 North America AI In Life Science Analytics Market, by Component
1.4.5 North America AI In Life Science Analytics Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. North America AI In Life Science Analytics Market by End-user
4.1 North America Pharmaceutical Market by Country
4.2 North America Medical Devices Market by Country
4.3 North America Biotechnology Market by Country
4.4 North America Others Market by Country
Chapter 5. North America AI In Life Science Analytics Market by Application
5.1 North America Sales & Marketing Support Market by Country
5.2 North America Supply Chain Analytics Market by Country
5.3 North America Research & Development Market by Country
5.4 North America Others Market by Country
Chapter 6. North America AI In Life Science Analytics Market by Deployment
6.1 North America Cloud Market by Country
6.2 North America On-premise Market by Country
Chapter 7. North America AI In Life Science Analytics Market by Component
7.1 North America Services Market by Country
7.2 North America Hardware Market by Country
7.3 North America Software Market by Country
Chapter 8. North America AI In Life Science Analytics Market by Country
8.1 US AI In Life Science Analytics Market
8.1.1 US AI In Life Science Analytics Market by End-user
8.1.2 US AI In Life Science Analytics Market by Application
8.1.3 US AI In Life Science Analytics Market by Deployment
8.1.4 US AI In Life Science Analytics Market by Component
8.2 Canada AI In Life Science Analytics Market
8.2.1 Canada AI In Life Science Analytics Market by End-user
8.2.2 Canada AI In Life Science Analytics Market by Application
8.2.3 Canada AI In Life Science Analytics Market by Deployment
8.2.4 Canada AI In Life Science Analytics Market by Component
8.3 Mexico AI In Life Science Analytics Market
8.3.1 Mexico AI In Life Science Analytics Market by End-user
8.3.2 Mexico AI In Life Science Analytics Market by Application
8.3.3 Mexico AI In Life Science Analytics Market by Deployment
8.3.4 Mexico AI In Life Science Analytics Market by Component
8.4 Rest of North America AI In Life Science Analytics Market
8.4.1 Rest of North America AI In Life Science Analytics Market by End-user
8.4.2 Rest of North America AI In Life Science Analytics Market by Application
8.4.3 Rest of North America AI In Life Science Analytics Market by Deployment
8.4.4 Rest of North America AI In Life Science Analytics Market by Component
Chapter 9. Company Profiles
9.1 Wipro Limited
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.1.5.2 Product Launches and Product Expansions:
9.1.6 SWOT Analysis
9.2 Oracle Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.5.2 Acquisition and Mergers:
9.2.6 SWOT Analysis
9.3 IBM Corporation
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional & Segmental Analysis
9.3.4 Research & Development Expenses
9.3.5 SWOT Analysis
9.4 Accenture PLC
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.6 SWOT Analysis
9.5 Microsoft Corporation
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.5.5 SWOT Analysis
9.6 IQVIA Holdings, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Recent strategies and developments:
9.6.4.1 Partnerships, Collaborations, and Agreements:
9.6.4.2 Product Launches and Product Expansions:
9.6.4.3 Acquisition and Mergers:
9.7 Lexalytics, Inc. (InMoment, Inc.)
9.7.1 Company Overview
9.8 Sisense, Inc.
9.8.1 Company Overview
9.9 Databricks, Inc.
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Product Launches & Product Expansions:
9.10. SAS Institute, Inc.
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Partnerships, Collaborations, and Agreements:
Companies Mentioned
- Wipro Limited
- Lexalytics, Inc.
- Databricks, Inc.
- SAS Institute, Inc.
- Sisense, Inc.
- IQVIA Holdings, Inc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Accenture PLC
Methodology
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