The Asia Pacific AI In Life Science Analytics Market would witness market growth of 12.1% CAGR during the forecast period (2022-2028).
Pharmaceutical businesses are rapidly utilizing digital transformation to enhance their value chain operations and boost market productivity and profitability. Organizations may significantly improve their R&D productivity, product development, sales growth, CRM, and governance with the help of contemporary technology breakthroughs like ubiquitous computing, big data, analytics, and mobile technologies.
The growth of the life science analytics industry is being boosted further by technological developments that combine AI and ML. The implementation of green initiatives like paperless technology in various labs will also help the market to grow further. Consequently, this also helps in reducing both process times and errors.
In the Asia Pacific region, the number of countries that aim to implement AI tools and associated technologies, along with emerging biotechnology, pharmaceutical, and biopharmaceutical companies, has also increased the demand for AI in analytics processes. As a result, prominent market players are focusing on using AI-based analytical tools to improve their operational efficiency. In addition, the growing incidences of injuries and the increasing disposable income have increased the accessibility of drugs for many people in the region. This has positively affected the drug development industries, which further increases the demand for AI analytical tools.
The China market dominated the Asia Pacific 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 $166 million by 2028.The Japan market is estimated to grow a CAGR of 11.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 12.7% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide AI In Life Science Analytics Market is Projected to reach USD 2.5 Billion by 2028, at a CAGR of 10.9%
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.
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