AI in life sciences market set to grow at 20% CAGR, reaching $11.5B by 2034 driven by drug discovery and data analytics.

The global AI in life sciences market is projected to expand at a compound annual growth rate (CAGR) of about 20% from 2026 to 2034, reaching an estimated value of $11.5 billion. This growth is fueled by increasing demand for faster drug discovery, precision medicine, and the ability to analyze large healthcare datasets like genomics and real-world evidence. North America leads the market due to strong pharmaceutical presence and investments, while Europe and Asia-Pacific also show significant growth driven by technological advances and government support. Key companies such as Insilico Medicine, NVIDIA, and Eli Lilly are actively advancing AI applications in drug development and clinical trials, signaling ongoing innovation and investment in this sector.