AI in Life Science Analytics Market Share

North America Market Forecast

North America AI in life science analytics market is projected to grow at more than 11% CAGR through 2037 and is foreseen to capture 44.5% of the revenue share by 2037. The widespread adoption of digital technologies in the pharma biotech companies is positively influencing the AI in life science analytics market growth in the region. The increasing number of research and development activities in the healthcare sector are also augmenting the adoption of advanced life science tools.

The U.S. has a strong presence of several research organizations including the National Institutes of Health, which supports research for drug development using AI. The increasing collaborations between technology firms, research institutions, and healthcare providers are set to foster innovations and expand the adoption of advanced life science tools. For instance, in December 2023, the IBM Corporation and Meta Platforms, Inc., announced the launch of an AI alliance in collaboration with several technology firms, researchers, and adopters to advance open, safe, and responsible AI.

Canada is actively advancing its healthcare infrastructure and patient outcomes by adopting several digital technologies. Similar to the U.S. the presence of several research and funding organizations is further supporting the AI in life science analytics market growth in the country.

APAC Market Statistics

Asia Pacific AI in life science analytics market is expected to hold revenue share of over 28.5% by the end of 2037 owing to the increasing healthcare expenditure, adoption of advanced medical devices and infrastructure, and entrance of several multinational biopharma companies. Asia is home to 60% of the global population and the rising prevalence of chronic disorders in the region is driving the adoption of advanced digital technologies in the drug research and development process. India, China, Japan, and South Korea are some of the top marketplaces in the region.

India is a rapidly expanding healthcare market generating profitable opportunities for healthcare-related solutions as well as service providers. According to the India Brand Equity Foundation, the India healthcare sector is anticipated to reach USD 638 billion by 2025. As per the same source, the Government of India is set to invest USD 6.8 billion to enhance its healthcare infrastructure. Such initiatives are forecasted to drive the adoption of advanced life science tools in the coming years.