AI in Biopharmaceutical Development Market: A Boon for Faster and More Effective Drug Discovery

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global AI in Biopharmaceutical Development Market- by Type (Monoclonal Antibodies, Vaccines, and Recombinant Proteins), Application (Research and Discovery, Clinical Development, Manufacturing & Supply Chain and Other Subsegments), End-User (Biopharmaceutical Manufacturers, Contract Manufacturing Organizations or Contract Research Organizations (CRO), and Academic & Government Research Institutes), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by InsightAce Analytic, the global AI in the Biopharmaceutical Development market is valued at US$ 452.33 Million in 2021, and it is expected to reach US$ 16.4 Billion by 2030, with a CAGR of 49.3% during a forecast period of 2024-2031.

Artificial intelligence stands out as the cutting-edge technology that is most poised to revolutionize the biopharmaceutical sector. In the domains of AI methods (ML), machine learning, reasoning, knowledge representation, and solution search are all included. It can assist in the selection of the optimal course of treatment for a patient, the maintenance of clinical data for future drug research, and the customization of medications. AI can distinguish between hit and lead compounds during the drug discovery process, facilitating the confirmation of therapeutic targets and the optimization of structural designs.

As the biopharmaceutical industry adopts artificial intelligence more extensively, the market is expanding. In the coming years, rising pharmaceutical research expenditures and increased awareness of AI's efficacy will also serve as substantial market growth drivers. In addition to a low trial failure rate and a surplus of software developers for drug discovery, the market is experiencing expansion due to the high demand for software among large pharmaceutical and biotechnology companies and research institutes. The implementation of AI technologies expedites the clinical trial process, eliminates potential obstacles, and improves both efficiency and precision.

The primary obstacles encountered in the field of AI-driven biopharmaceutical development pertain to the exorbitant expenses associated with apparatus, software, and applications. Insufficient availability of data sets for medication discovery, a scarcity of seasoned personnel, and the absence of regulations and ethical standards governing the implementation of artificial intelligence in healthcare constitute additional market obstacles for the forecast period.
Over the forecast period, North America is anticipated to contribute the most to AI in biopharmaceutical development as a result of its abundance of software and technology vendors.

In addition, the upward trend in research and development expenditures in the United States and the increasing prevalence of chronic diseases both contribute to the expansion of the North American biopharmaceuticals market. The United States is the epicenter of innovations in the life sciences and an active participant in the influential global capital investments of biopharmaceutical companies. Furthermore, it is anticipated that the Asia Pacific market for AI in Biopharmaceutical Development will experience substantial expansion over the projected timeframe. An important determinant impacting the market is the proliferation of global market participants entering Asian markets, including but not limited to China and India. As a result of their low operating and manufacturing costs, Asian nations are gaining popularity as centers for biomanufacturing new medications.

Major market players operating in AI in the biopharmaceutical Development market include IBM Watson Health, Google (Alphabet Inc.), Concreto HealthAI, Nvidia Corporation, PathAI, Atomwise, Inc., Deep Genomics, Cloud Pharmaceuticals, Inc., Ai-biopharma S.A.S., and Microsoft Corporation, among others, are some key players operating in the AI in Biopharmaceutical Development Market.

Recent collaborations and agreements in the market:
• In April 2021, Microsoft acquired Nuance for $19.7 billion, emphasizing healthcare AI. Microsoft will pay Nuance $19.7 billion in cash. With Nuance's conversational AI and speech recognition technologies under its wing, Microsoft will step up its effort to provide cloud-based AI solutions to the healthcare sector on a larger scale.
• In April 2021, On AI-driven drug discovery, Nvidia worked with AstraZeneca and the University of Florida. Through this partnership, researchers will be able to more quickly assess billions of compounds for possible therapeutic candidates thanks to a model trained using the AI supercomputer Nvidia DGX SuperPOD.

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Market Segments
Global AI in Biopharmaceutical Development Market, by Type, 2024-2031 (Value US$ Mn)
• Monoclonal antibodies
• Vaccines
• Recombinant proteins

Global AI in Biopharmaceutical Development Market, by Application, 2024-2031 (Value US$ Mn)
• Research and discovery
• Clinical development
• Manufacturing & supply chain and other subsegments

Global AI in Biopharmaceutical Development Market, by End-User, 2024-2031 (Value US$ Mn)
• Biopharmaceutical manufacturers
• Contract manufacturing organizations (CMOs) or contract research organizations (CROs)
• Academic & government research institutes

Global AI in Biopharmaceutical Development Market, by Region, 2024-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America AI in Biopharmaceutical Development Market, by Country, 2024-2031 (Value US$ Mn)
• U.S.
• Canada

Europe AI in Biopharmaceutical Development Market, by Country, 2024-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific AI in Biopharmaceutical Development Market, by Country, 2024-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America AI in Biopharmaceutical Development Market, by Country, 2024-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa AI in Biopharmaceutical Development Market, by Country, 2024-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global AI in Biopharmaceutical Development market
 To receive an industry overview and future trends of the AI in Biopharmaceutical Development market
 To analyze the AI in Biopharmaceutical Development market drivers and challenges
 To get information on the AI in Biopharmaceutical Development market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the AI in Biopharmaceutical Development market industry

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