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AI in Life Sciences Market Poised for Explosive Growth with 27.9% CAGR Through 2029

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AI Revolutionizes Life Sciences: Transforming Drug Discovery, Personalized Medicine, and Patient Outcome. BCC Research Study Projects a 27.9% CAGR, with Market Growth from $9.8 Billion in 2024 to $33.5 Billion by 2029

BOSTON, Sept. 26, 2024 /PRNewswire/ — “According to the latest BCC Research study, the demand for “Artificial Intelligence (AI) in Life Sciences Market” is estimated to grow from $9.8 billion in 2024 to $33.5 billion by the end of 2029, at a compound annual growth rate (CAGR) of 27.9% from 2024 to 2029.”

The global artificial intelligence (AI) in the life sciences market is witnessing significant growth, driven by advancements in AI technologies and their increasing adoption across the life sciences sector. This report provides a comprehensive analysis of the market size, estimating both current and historical revenues segmented by products, applications, end users, and regions. By examining these factors, the report offers insights into the evolving landscape of AI in life sciences, highlighting key trends and regional dynamics that are shaping the future of this transformative field.

This report is particularly relevant at this moment due to the rapid advancements and accelerating adoption of artificial intelligence within the life sciences industry. As the volume and complexity of biological data continue to increase, there is a pressing need for innovative technologies that can enhance our ability to understand, diagnose, and treat various diseases. AI is at the forefront of these advancements, offering transformative potential to revolutionize healthcare by enabling more precise and efficient solutions. The global COVID-19 pandemic has further emphasized the importance of AI, highlighting its critical role in speeding up drug discovery, developing vaccines, and improving diagnostic tools. With these unprecedented challenges and opportunities, this report provides essential insights into the current state and future impact of AI in life sciences, making it a valuable resource for stakeholders seeking to navigate and capitalize on this rapidly evolving field.

Please click here for more details on “The global market for artificial intelligence (AI) in life sciences products Report.”

The following factors drive the global market for artificial intelligence (AI) in life sciences products:

Increasing Adoption of AI-Driven Solutions for Drug Discovery and Development: AI is transforming the drug discovery and development landscape by drastically cutting down the time and costs traditionally associated with these processes. Where conventional methods might take years and billions of dollars, AI can swiftly analyze large datasets to pinpoint potential drug candidates and forecast their efficacy and safety. This accelerates the preliminary stages of drug discovery, enabling researchers to concentrate on the most promising compounds. Moreover, AI aids in refining clinical trial designs, identifying appropriate patient groups, and predicting trial outcomes, further expediting the development pipeline.

Rising Need for Precision Medicine and Personalized Treatment Approaches: Precision medicine focuses on tailoring medical treatments to the unique characteristics of each patient. AI is instrumental in this process by analyzing genetic, environmental, and lifestyle factors to determine the most effective treatment strategies for individual patients. This personalized approach leads to improved patient outcomes, as therapies are specifically crafted to address the distinct aspects of a patient’s condition. Additionally, AI allows for real-time monitoring of patient responses, enabling rapid adjustments to treatment plans when needed. This level of customization is becoming increasingly vital as healthcare shifts towards more patient-centered models.

Request a sample copy of the global market for artificial intelligence (AI) in life sciences products report:

Report Synopsis

Report Metrics

Details

Base year considered

2023

Forecast Period considered

2024-2029

Base year market size

$8.0 billion

Market Size Forecast

$33.5 billion

Growth rate

CAGR of 27.9% from 2024 to 2029

Segment Covered

By Product Segment, Application, End User, and Region

Regions covered

North America, Europe, Asia-Pacific, and the Rest of the World (RoW)

Key Market Drivers

•  Increasing adoption of AI-driven solutions for drug discovery and development

•  Rising need for precision medicine and personalized treatment approaches

 

Key Interesting Facts About the global market for artificial intelligence (AI) in life sciences products:

1.  AI in Drug Discovery and Development:

AI accelerates drug discovery by rapidly screening millions of compounds.It generates novel drug candidates, transforming drug development.Virtual clinical trials streamline research, reducing costs.

2.  AI in Precision Medicine and Medical Imaging:

Precision medicine tailors treatments based on genetic analysis.AI excels in medical imaging analysis, aiding diagnoses.Machine learning detects subtle patterns, aiding early disease detection.

The global market for artificial intelligence (AI) in life sciences products report includes in-depth data and analysis addressing the following important queries:

1.  What is the projected market size and growth rate of Artificial Intelligence (AI) in the Life Sciences market?

The global Artificial Intelligence (AI) In Life Sciences market was valued at $8.0 billion in 2023 and is expected to reach $33.5 billion by the end of 2029, expected to grow at a CAGR of 27.9% from 2024 to 2029.

2.  What are the key factors driving the growth of artificial intelligence (AI) in the life sciences market?

The growth of Artificial Intelligence (AI) in the Life Sciences market is primarily driven by the increasing adoption of AI-driven solutions for drug discovery and development, the rising need for precision medicine and personalized treatment approaches, and the demand for advanced diagnostic tools to analyze complex biological data.

3.  What segments are covered in the global Artificial Intelligence (AI) in the Life Sciences market?

The global Artificial Intelligence (AI) market in the Life Sciences is segmented based on product, application, end-user, and region.

4.  By Type, which segment will dominate the market by the end of 2029?

The software segment will dominate the market by the end of 2029.

5.  Which region has the highest market share in Artificial Intelligence (AI) in the Life Sciences market?

North America holds the highest share of the market.

 Some of the Key Market Players Are:

AICUREAPIXIOATOMWISE INC.BENEVOLENTAIENLITIC INC.NUMEDII INC.RECURSIONZEBRA TECHNOLOGIES CORP.

Browse Related Reports:

Global Markets for Artificial Intelligence in Drug Discovery: This report provides a comprehensive overview of AI in the drug discovery market, analyzing trends from 2020, recent estimates from 2021, and projecting compound annual growth rates through 2028. It focuses on market dynamics such as regulatory scenarios, drivers, restraints, and opportunities, highlighting the potential across applications including preclinical testing, target identification, candidate screening, lead optimization, drug repurposing, and De novo drug design. Therapeutic areas covered include oncology, neurodegenerative diseases, cardiovascular diseases, metabolic diseases, and infectious diseases. Regional analysis spans North America, Europe, Asia-Pacific, and the Rest of the World, with detailed insights into key countries like the U.S., Germany, the U.K., Italy, France, Japan, China, and India.

Directly purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com

About BCC Research

BCC Research provides objective, unbiased measurement, and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

Contact Us
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Email: info@bccresearch.com,
Phone: +1 781-489-7301

For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

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/C O R R E C T I O N from Source — Carbon Upcycling Technologies Inc./

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In the news release, Carbon Upcycling, Minnesota DOT and National Road Research Alliance Joint Study Shows High-Performance Low-Carbon Concrete is 30% Stronger than Existing Roadways, issued 12-Nov-2024 by Carbon Upcycling Technologies Inc. over CNW, we are advised by the company that corrections were made to the release. The complete, corected release follows:

Carbon Upcycling, Minnesota DOT and National Road Research Alliance Joint Study Shows High-Performance Low-Carbon Concrete is Stronger than Existing Roadways

Carbon Upcycling’s concrete mix demonstrated a 28% increase in strength at 28 days, while reducing cementitious content by 12.3%, setting a new standard for low-carbon sustainable infrastructure

CALGARY, AB, Nov. 12, 2024 /CNW/ – Carbon Upcycling Technologies, Inc. (Carbon Upcycling), a leader in decarbonization and carbon capture & utilization (CCU) for hard-to-abate industries, along with, the Minnesota Department of Transportation (MnDOT) and the National Road Research Alliance (NRRA) has successfully completed the construction phase of a multi-year study on the use of low-carbon cement in highways. The results highlight Carbon Upcycling’s ability to be a drop-in solution for reducing carbon-intensive cement in concrete.

The study, managed by Sutter Engineering LLC and sponsored by the National Road Research Alliance (NRRA), rigorously tested 16 unique concrete mixtures in real-world conditions on an active Minnesota highway to identify options that could reduce the carbon footprint of infrastructure without sacrificing strength or durability. Completed in early 2024, the study aimed to find materials that could significantly lower the carbon footprint of concrete paving without compromising durability. Carbon Upcycling’s CO2-enhanced mix achieved a 12.3% reduction in cement content while matching the workability of traditional concrete, allowing seamless handling, placement, and setting times for construction crews. These findings provide valuable data to guide future low-carbon infrastructure projects across North America, as the seamless integration into existing workflows offers a drop-in, low-carbon alternative without compromising ease of use or performance.

The study revealed significant performance and environmental benefits of Carbon Upcycling’s concrete mix:

Increased Strength: 28% stronger at 28 days compared to the advanced control concrete.Reduced Cement Use: The CCU process allowed a 12.3% reduction in cementitious material, effectively reducing both carbon emissions and material costs.Greater Resiliency to Natural Elements: 32% increase in chloride resistivity for more durable concrete.

“Infrastructure is the very foundation of a sustainable future, and at Carbon Upcycling we’re committed to creating materials that support this vision while establishing a secure, stable North American supply chain,” said Apoorv Sinha, CEO of Carbon Upcycling. “Our collaboration with the Minnesota Department of Transportation highlights how Carbon Upcycling can transform captured emissions into local materials that strengthen our infrastructure. By focusing on resilience and sustainability, we’re contributing to a vision where our essential structures are clean and built to last.”

Carbon Upcycling partnered with BURNCO to deploy and test 140 m³ of its CCU-enhanced concrete mix, monitored by Larry Sutter, Principal Engineer at Sutter Engineering LLC, for strength, workability, and environmental impact on a Minnesota highway.

“Carbon Upcycling submitted a very impressive mixture design to the trial,” said Larry Sutter, MnDOT’s Principal Engineer and the project’s technical manager. “Their material not only achieved the highest reduction in cementitious content among all submissions but also demonstrated remarkable strength. By embedding CO2 and reducing the reliance on portland cement, Carbon Upcycling’s technology addresses one of the concrete industry’s most pressing challenges—lowering its carbon footprint as global demand for cement is expected to double by 2050. This project data will be invaluable as the industry works toward its 2030 CO2 reduction targets.”

Since 2021, Carbon Upcycling has deployed over 3,000 tonnes of low-carbon cement and has attracted investment from some of the world’s largest cement industry players such as Cemex, CRH and Titan Cement.

About Carbon Upcycling Technologies:
Carbon Upcycling is a decarbonization and carbon capture & utilization technology provider for the world’s hardest-to-abate industries. The company’s commercial technology upcycles point-source industrial CO2 emissions and local industrial waste materials into high-performance, low-carbon cement alternatives. The company is currently commissioning its first-of-a-kind commercial system at Canada’s largest cement plant. Carbon Upcycling has received global recognition for its industry-leading innovation. Notably, Carbon Upcycling was named a 2023 and 2024 Global Cleantech 100, Reuter’s Top 100 Innovators Leading the Energy Transition, and a World Economic Forum 2024 Technology Pioneer.

For more information, visit www.carbonupcycling.com.

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SOURCE Carbon Upcycling Technologies Inc.

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Massachusetts Community Colleges Partner with AMSimpkins & Associates to Implement their S.A.F.E. Platform in Efforts to Combat Student Applicant Fraud

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This partnership marks a significant milestone for Massachusetts Community Colleges in their efforts to prevent fraud and ensure equitable access to education. The implementation of S.A.F.E. will provide the institutions with cutting-edge technology and reliable safeguards, solidifying their reputation as forward-thinking leaders in the fight against student application fraud.

ATLANTA, Nov. 15, 2024 /PRNewswire-PRWeb/ — AMSimpkins & Associates, a leader in cutting-edge cybersecurity solutions for educational institutions, is proud to announce that Massachusetts Community Colleges have selected the S.A.F.E. (Student Application Fraudulent Examination) platform to bolster their efforts in preventing and detecting student application fraud. This strategic move underscores Massachusetts’ commitment to maintaining the integrity of its admissions process and ensuring that valuable educational resources reach legitimate students.

“We’re excited to partner with Massachusetts Community Colleges and support their mission to provide quality education to genuine, eligible students.”

In recent years, fraudulent applications and financial aid scams have become increasingly pervasive issues, especially as institutions pivot towards more digital and remote application processes. By adopting the S.A.F.E. platform, Massachusetts Community Colleges are taking a proactive stance to safeguard their institutions against evolving fraud tactics.

S.A.F.E., developed by AMSimpkins & Associates, is a comprehensive fraud detection and prevention solution that leverages advanced data analytics, artificial intelligence (AI), machine learning algorithms, and real-time monitoring to identify potentially fraudulent activity within the student application and financial aid processes. With over 50 colleges and universities already utilizing the S.A.F.E. platform, Massachusetts Community Colleges now join a growing community of educational institutions committed to integrity, transparency, and security.

“S.A.F.E. is built from the ground up with the unique needs of higher education institutions in mind,” said Maurice Simpkins, President of AMSimpkins & Associates. “With our deep understanding of the higher education landscape, we’ve created a solution that not only detects and prevents fraud but also allows institutions to seamlessly integrate these checks into their admissions workflows. We’re excited to partner with Massachusetts Community Colleges and support their mission to provide quality education to genuine, eligible students.”

The S.A.F.E. platform offers a robust set of features to prevent and detect fraudulent applications, including:

Real-time Identity Verification: Through partnerships with industry-leading identity verification services, S.A.F.E. ensures that applicants are who they claim to be by cross-referencing multiple data points, including Social Security Number validation, address checks, and real-time ID verification.AI-Driven Anomaly Detection: S.A.F.E. continuously monitors and learns from application data patterns, enabling it to detect suspicious behaviors that could indicate fraudulent activity.Geo-Blocking and Risk Scoring: Institutions can customize geo-blocking settings to restrict access from high-risk regions and employ dynamic risk scoring based on user interactions, device profiling, and behavior analytics.Customizable Fraud Rules and Policies: The platform allows administrators to set specific fraud thresholds and responses, tailoring the system’s sensitivity to meet the unique needs of each college or university.Real-time Alerts and Data Sharing: S.A.F.E. sends real-time alerts to designated stakeholders if suspicious activities are detected, allowing for quick responses and preventative actions.Additionally, the platform facilitates data sharing across institutions to block repeated offenders system-wide.

In addition to its fraud prevention features, AMSimpkins & Associates also provides cybersecurity consulting and support through partnerships with Cybersecurity organizations, adding another layer of protection for Massachusetts Community Colleges. This comprehensive approach aligns perfectly with the state’s vision of creating a secure and resilient higher education environment.

About AMSimpkins & Associates

AMSimpkins & Associates is an industry-leading provider of cybersecurity solutions focused on safeguarding educational institutions. Their flagship product, S.A.F.E. (Student Application Fraudulent Examination), is specifically designed to address the complex challenges of fraud in higher education admissions and financial aid. By partnering with colleges, universities, and technology providers, AMSimpkins & Associates is committed to maintaining the integrity of education by keeping students and institutions safe from fraud.

For more information about AMSimpkins & Associates and the S.A.F.E. platform, please visit amsa-highered.com

Media Contact

LAQWACIA SIMPKINS, AMSimpkins and Associates, 1 6786824193, LSIMPKINS@AMSA-CONSULTING.COM, AMSimpkins and Associates

Twitter, Facebook, LinkedIn

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SOURCE AMSimpkins and Associates

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bswift Acquires Evive: Launches Integrated Personalized Engagement Platform

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bswift announces a fully integrated personalized engagement solution aimed at delivering better health care outcomes through data-driven personalization, predictive analytics, and behavioral science. 

CHICAGO, Nov. 15, 2024 /PRNewswire/ — bswift LLC, an industry leader in employee benefits technology and administration, announced today the launch of its fully-integrated personalization and engagement engine. This solution is a result of bswift’s recent acquisition of Evive Health, LLC, a pioneer in the field with a demonstrated track record of driving outcomes for employees, employers and health plans by optimizing benefit understanding and utilization, resources, and programs for millions of Americans. 

“By bringing bswift and Evive together, we have integrated a powerful engagement platform,” – bswift CEO, Ted Bloomberg.

With this exciting investment, bswift reinforces its mission to lead the benefits administration space and strengthens its role as a strategic ally for its clients – empowering them to deliver on their benefits strategies by motivating plan participants to manage their health and wellbeing proactively.

“Our clients and partners consistently tell us that member engagement, personalized experiences, and cost management are their top strategic priorities today and in the foreseeable future,” said bswift CEO, Ted Bloomberg. “By bringing bswift and Evive together, we have integrated a powerful engagement platform into our core benefits administration solution. That is a first, and we are delighted to immediately and directly support employers’ critical priorities with proven, industry-leading capabilities.” 

Using data-driven personalization and the power of predictive analytics and behavioral science, bswift’s personalization toolset is proven to increase benefits awareness, engagement, and utilization by delivering tailored and actionable messages about the right benefit at the right time. Demonstrated results include driving a 3X increase in health actions recommended by qualified providers, and a 12% increase in annual preventative care screening visits. 

“We’re thrilled to be the first in our market to deliver this supercharged engagement capability across all aspects of the user experience,” said bswift Executive Vice President of Product, Matt Waldrup. “bswift is completely reimagining the benefits experience with personalized, data-driven, multi-channel communications that engage employees across their physical, emotional, financial, and personal wellbeing, empowering people to make the most of their benefits.” 

bswift’s new personalization engine empowers employers and employees: 

Personalized, next-best-action journeysReward and incentive-based gamification to boost engagementOn-the-go access to benefits and incentive activities via mobile appRobust analytics and reporting for HR teams to track campaign ROI and engagement metrics

Employers can now leverage bswift’s expertise to systematically deliver smarter, more relevant communications to promote healthier habits, optimize benefit utilization – and maximize employee health outcomes. 

About bswift 
bswift LLC offers cloud-based technology and services that transform the way employees perceive and engage with their benefits. With adaptive technology, service excellence, and compassionate service, bswift serves millions worldwide. Their comprehensive suite of solutions provides intuitive, personalized online enrollment, interactive decision support, ACA compliance reporting, and employee engagement. Visit www.bswift.com to learn more. 

About Evive 

Evive is a digital communications and engagement platform that helps health plans and employers optimize the benefits, resources and programs they offer their employees. Using data-driven personalization, closed-loop engagement reporting and the power of predictive analytics and behavioral science, Evive increases benefits awareness, engagement and utilization to deliver the right message about the right benefit at the right time. Visit www.goevive.com to learn more.

Media Contact: 
Zoya Siddiqui 
Senior Director, Marketing 
zsiddiqui@bswift.com

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SOURCE bswift LLC

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