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Emerging Trends Influencing The Growth Of The Artificial Intelligence (AI) In Biopharmaceuticals Market: Advancements In AI-Powered Solutions For Drug Discovery And Precision Medicine
Artificial Intelligence (AI) In Biopharmaceuticals
How Big Is the Artificial Intelligence (AI) In Biopharmaceuticals Market Size Expected to Be by 2034?
The market size for artificial intelligence (AI) in the biopharmaceutical sector has seen a remarkable increase lately. The forecast for its growth is from $1.59 billion in 2024, leading up to $2.12 billion in 2025, with a compound annual growth rate (CAGR) of 33.1%. This pronounced growth during the historical period is due to enhancements in computational capabilities, a surge in biomedical data, the paradigm of precision medicine, as well as regulatory endorsement and guidance.
The size of the biopharmaceutical artificial intelligence (AI) market is predicted to undergo significant expansion in the coming years. By 2029, it is estimated to reach $6.67 billion with a compound annual growth rate (CAGR) of 33.2%. The projected growth during this period can be tied to advancements in computational biology, the amalgamation of multi-modal data, the merging of artificial intelligence and life sciences, supportive regulatory frameworks, and adherence to ethical and fair AI principles. During this period, key trends are expected to include the integration of multi-omics data, the use of AI in drug design and discovery, increased understanding of AI and its acceptance by regulatory bodies, technological progress, developments in regulations, and newly surfacing opportunities.
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What Are the Emerging Segments Within the Artificial Intelligence (AI) In Biopharmaceuticals Market?
The artificial intelligence (AI) in biopharmaceuticals market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Deployment: Cloud, On-Premises
3) By Technology: Machine Learning, Natural Language Processing, Deep Learning, Other Technologies
4) By Application: Business Process And Supply Chain, Drug Discovery, Medical Imaging And Diagnostics, Precision Medicine
5) By End-Users: Manufacturers, Contract Research Organizations, Academic And Government Research Institutes
Subsegments:
1) By Hardware: High-Performance Computing Systems, AI-Enabled Laboratory Equipment, Data Storage Solutions
2) By Software: Drug Discovery Platforms, Clinical Trial Management Software, Predictive Analytics Tools, Natural Language Processing Solutions
3) By Services: Consulting Services, Implementation And Integration Services, Data Management And Analytics Services, Training And Support Services
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What Long-Term Drivers Are Shaping Artificial Intelligence (AI) In Biopharmaceuticals Market Trends?
The rise in chronic illnesses is anticipated to fuel the expansion of the artificial intelligence (AI) in the biopharmaceuticals market in the future. These diseases, which typically advance at a sluggish pace and can endure for decades or even a lifetime, can be attributed to factors such as lifestyle choices, ageing populations, genetic susceptibility, and environmental factors. AI in biopharmaceuticals is becoming increasingly popular for managing chronic diseases due to its ability to analyze vast amounts of heterogeneous data, identify trends, and personalize treatment plans. For example, the Department of Health and Human Services reported in November 2023 that there was a surge of 11 percent in newly identified chronic hepatitis B cases in 2022 compared to 2021. As a result, the escalating incidence of chronic diseases is a key driver for the growth of the artificial intelligence (AI) in biopharmaceuticals market.
Who Are the Top Competitors in Key Artificial Intelligence (AI) In Biopharmaceuticals Market Segments?
Major companies operating in the artificial intelligence (AI) in biopharmaceuticals market are Apple Inc., Google LLC, Microsoft Corporation, Tencent Holdings Limited, Amazon Web Services Inc., International Business Machines Corporation, Exscientia Limited, NVIDIA Corporation, Amgen Inc., DeepMind Technologies Limited, Schrödinger Inc., XtalPi Inc., ConcertAI Inc., Insilico Medicine Inc., Recursion Pharmaceuticals, BenevolentAI, BioXcel Therapeutics, Atomwise Inc., BioAge Labs Inc., GNS HealTH*Care, Berg Health, Deep 6 AI Inc., Cloud Pharmaceuticals Inc., Numerate Inc., AI Therapeutics, Envisagenics, twoXAR Inc., Cyclica Inc.
What Artificial Intelligence (AI) In Biopharmaceuticals Market Trends Are Gaining Traction Across Different Segments?
Prominent firms engaged in biopharmaceutical artificial intelligence (AI) are concentrating on creating groundbreaking advancements like AI-powered solutions for target and lead identification suite. These innovations are aimed at expediting drug discovery and forging a new path in precision medicine by transforming life sciences organizations. The solutions encompass innovative strategies for developing novel drugs and customizing treatments to suit individual patients. For instance, in May 2023, Google LLC, a US firm specializing in cloud computing services, introduced two new AI-enabled tools, named target and lead identification suites. They are devised to assist researchers in predicting and understanding protein structures, a vital element in drug development. Furthermore, this suite aids researchers in importing, storing, analyzing, and sharing large volumes of genomic data, which is essential for precision medicine. These tools are targeted at simplifying the drug discovery procedure, reducing expenses, and expediting the introduction of new treatments in the market. These tools, through their efficient data management, precise protein structure prediction, and advanced genomic analysis capabilities, aspire to transform drug development processes and enhance patient outcomes.
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Which Regions Are Becoming Hubs for Artificial Intelligence (AI) In Biopharmaceuticals Market Innovation?
North America was the largest region in the artificial intelligence (AI) in biopharmaceuticals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in biopharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence (AI) In Biopharmaceuticals Market?
2. What is the CAGR expected in the Artificial Intelligence (AI) In Biopharmaceuticals Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence (AI) In Biopharmaceuticals Industry?
4. Which Region Is Leading the Artificial Intelligence (AI) In Biopharmaceuticals Market?
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