AI for Vaccine Development Market To Reach USD 118.69 Billion By 2030

In 2022, the Global AI for Vaccine Development Market was valued at $8.3 billion and is projected to reach a market capitalization of $118.69 billion by 2030. Over the forecast period of 2023-2030, the market is anticipated to grow at a CAGR of 39.45% owing to the rising prevalence of infectious illnesses, as well as the growing demand for vaccinations to defend.

AI technology is continuously evolving, and the development of increasingly advanced algorithms and machine-learning approaches is allowing vaccines to be developed more swiftly and efficiently. AI technology is utilized to steadily accelerate the process. AI approaches may be used to investigate the virus's genomic mutations and understand how the infection evolves over time. The development of a vaccine necessitates a large amount of data since it is vital to know both the virus and the immune system's reaction to it. Preclinical testing, dose calculations, and immune response prediction can all be aided by Artificial Intelligence-based technologies. Researchers may employ AI algorithms to find the best location for clinical trials. The rise of big data and cloud computing is allowing for the storage and analysis of massive volumes of data, which is critical for AI-based vaccine development. Governments all across the globe are investing in the development of AI-based vaccines. The rising prevalence of infectious illnesses, as well as the growing demand for vaccinations to defend against them, are driving demand for AI-based vaccine development solutions. The growing acceptance of customized medicine is also boosting demand for AI-based vaccine research since it enables for the production of vaccinations tailored to the particular requirements of individuals. The use of virtual trials and simulations is becoming increasingly frequent in AI-based vaccine research, allowing for more efficient and cost-effective vaccine production. Companies in the industry are substantially spending in R&D to produce new and more powerful AI-based vaccine development solutions. AI-powered vaccine research is increasingly utilizing genomes and proteomics to find new vaccine targets.

With the rising prevalence of new infectious illnesses, there is a significant possibility for AI-based vaccine development solutions to be utilized to produce vaccines for these diseases in a timely and effective manner. AI-powered vaccine development technologies may also be utilized to create vaccines for non-communicable illnesses like cancer, which is a major business potential. The COVID-19 pandemic has boosted the demand for vaccinations to guard against the virus, which has increased the demand for AI-based vaccine development solutions. The need for a COVID-19 vaccine has accelerated vaccine research and the adoption of AI-based technologies to expedite the process. Overall, the COVID-19 pandemic has raised the demand for AI-based vaccine development solutions and has hastened the development of COVID-19 vaccines, which is projected to fuel the growth of the AI for vaccine development market in the future years.

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Segmentation Analysis:
The Global AI for Vaccine Development Market segmentation includes:

By Application:
• Vaccine Exploration/Preclinical
• Vaccine Clinical Developments and Trials
• Vaccine Manufacturing
• QC

Artificial intelligence-based technologies are employed in many phases of vaccination research and development, including target identification, medication discovery, and pre-clinical testing. AI-based technologies are being utilized to improve the clinical trial process, including patient selection, study design, and data analysis. They assist in the identification of the best patients for clinical trials, the creation of efficient trial procedures, and the analysis of clinical trial data to find trends and insights that might influence future research. AI is also being used in vaccine development for medication repurposing, manufacturing optimization, and distribution logistics.

By End-User:
• Pharmaceutical and Biotechnology companies
• Contract Research Organizations
• Research Centres

Pharmaceutical and biotechnology firms apply AI-based technologies at various phases of vaccine research and development, including target identification, medication discovery, and pre-clinical testing. The application of AI-based technology in various stages enables these businesses to accelerate vaccine development, enhance success rates, and cut costs. Research institutes employ AI-based technologies to undertake vaccine research and development, as well as to collaborate on vaccine development projects with pharmaceutical and biotechnology firms. They use AI-based technology to evaluate massive volumes of data from multiple sources, such as medical literature, clinical trial data, and other types of data, in order to find possible targets and essential routes for vaccine development. Hospitals and clinics utilize AI-based tools to enhance clinical trial processes such as patient selection, study design, and data analysis. Government and regulatory agencies monitor and oversee vaccine development and distribution using AI-based technology. They employ AI-based technology to evaluate vaccine development and distribution data, discover patterns and trends, and forecast future vaccination demands.

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Regional Analysis:
The North American market is predicted to dominate the worldwide market due to the existence of a significant number of pharmaceutical and biotechnology businesses, research institutions, and government support for vaccine development.

The European market is predicted to increase rapidly due to the existence of a large number of research institutes and government financing for vaccine development.

The Asia-Pacific market is predicted to develop rapidly as pharmaceutical and biotechnology businesses in the area increase their investments in AI-based technologies.

The Latin American market is predicted to develop at a modest rate because of the rising implementation of AI-based technologies in the healthcare sector. Because of increased investments in AI-based technologies in the healthcare industry, the Middle East and Africa market is predicted to develop at a modest rate.

Latest Industry Developments:

• In August 2020, IBM have been creating AI-based platforms and technologies that pharmaceutical and biotech businesses may employ to expedite vaccine development.

• GSK and Moderna are two companies that are leveraging AI-based technology for target identification and drug development. Other businesses, such as Optum, have focused on applying AI to enhance clinical trial operations.

• The application of AI-based technologies in the discovery and repurposing of existing medications for use in the treatment and prevention of COVID-19 is a recent breakthrough in the AI for Vaccine Development sector. This has resulted in the rapid development of novel COVID-19 vaccines and therapies.

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This release was published on openPR.