The Latin America, Middle East and Africa AI In Life Science Analytics Market would witness market growth of 17.0% CAGR during the forecast period (2022-2028).
Life sciences organizations can stream factory and sensor data to analytics engines that produce new insights by applying AI to biopharma production facilities and procedures. Companies can then use these insights to foresee process bottlenecks, spot quality control problems, and offer proactive corrective measures.
Additionally, businesses may utilize AI to forecast demand and supply more accurately, suggest the best course of action to supply chain managers, and even carry out some tasks independently. Such supply chain tools offered by AI technologies can enhance businesses' capacity to respond dynamically to changes in market demand and supply availability, minimize disruptions, and improve decision-making with regard to product distribution and new product introductions.
Similar advancements like this are helping in realizing the lofty vision of Biopharma 4.0. Artificial intelligence-powered medical technology has the potential to save lives, conserve resources, and address the human resources deficit in the healthcare industry by allowing healthcare workers to focus more on duties that benefit people.
The usage of advanced technological solutions is governed by regional governmental bodies. For example, the Brazilian General Data Protection Law establishes regulations for personal data processing on digital platforms and in physical media. It has also proposed guidelines and principles for the use and development of AI. Such efforts facilitated the adoption of AI by various organizations in the nation, like the Health Regulatory Agency of Brazil, which then proceeded to rule medical device software.
The Brazil market dominated the LAMEA 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 $47 million by 2028.The Argentina market is experiencing a CAGR of 17.6% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 16.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global AI In Life Science Analytics Market is Predict to reach $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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