The capability of thinking and imagining in humans is truly limitless and its outcome knows no boundaries. The world has witnessed massive changes over the period of last several decades courtesy of the continuously advancing technology. Today, almost everything is possible today as compared to yesteryears. The credit of the rapid growth seen by mankind undoubtedly goes to technological advancements made by all the industries and sector. Several technologies like virtual reality, and artificial intelligence (AI) are providing impetus to the wheel of progress. The introduction of artificial intelligence few years back has completely changed the dynamics of several industries including the health care sector. Artificial intelligence (AI) primarily is a technology that replicates or simulates human intelligence in machines. AI in life extension market is currently witnessing tremendous growth.
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While several industries had to face wrath of the dreadful COVID-19 pandemic, the AI in life extension market saw excellent growth. In wake of failed healthcare infrastructure and death of millions across the globe due to the dreadful infection, the demand for the discovery of new drugs skyrocketed. This is why this market took giant strides in the times of adversity.
One of the biggest factor that has been driving the growth of the AI in life extension market is increased amount of investment in activities related to research and development. AI is relatively new technology, and continuous research activities prove helpful for this market. Meanwhile, higher amount of costs associated with the products/ software related to artificial intelligence make them difficult to afford for smaller organizations. This plays a huge restraining factor for the growth of the AI in life extension market. On the other hand, new discoveries and several benefits related to artificial intelligence (AI) will ensure that the AI in life extension market will witness massive growth over the period of forecast.
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Key Takeaways – Global AI in Life Extension Market:
- In terms of revenue, the global AI in life extension market is projected to grow at an estimated CAGR of 36.5% over the forecast period.
- As artificial intelligence replicates human intelligence it has been useful in various tasks that were completely dependent on human decision making. Critical medical procedures can be performed with utmost precision and ease with the help of artificial intelligence.
- Artificial intelligence has been a boon for the medical sector and has been helping pharmaceutical companies in designing and redesigning new drugs. This is pharma sector generates maximum amount of revenue for this market.
- The region of Asia Pacific is forecasted to witness tremendous growth for the AI in life extension market, that too at an extremely rapid pace. Healthcare sector in countries like China, India, Japan and South Korea is growing rampantly, which ultimately helps this market grow.
A few of the players operating in the global AI in life extension market are listed below:
- AgeX Therapeutics, Inc.
- Human Longevity, Inc.
- Juvenescence Ltd.
- Life Extension (Insilico Medicine)
- resTORbio
- Samumed
- UNITY Biotechnology
- Other Market Participants
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Global AI in Life Extension Market
By Offerings
- Software
- Services
By Technology
- Advanced bioinformatics methods
- Deep learning algorithms
- Machine Learning
- Others
By Applications
- Drugs Design and Redesign
- Biomarket development
- Disease target identification
- Generate of synthetic biology (generation biology)
- Novel molecules (generative chemistry) data
- Clinical trial Prediction Outcomes
By End Users
- Pharmaceutical Companies
- Universities and hospital networks
- Cosmetic and Regenerative medicine companies
- Food Companies
- Research Centers and Laboratories
- Clinicians and Drug Developers
- Others
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By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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