How Will the Artificial Intelligence (AI) In Biopharmaceuticals Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the Artificial Intelligence (AI) In Biopharmaceuticals Market Grow Over the Forecast Period Based on Its Expected CAGR?
The growth of the artificial intelligence (AI) in the biopharmaceutical market has surged immensely in recent years. It is projected to expand from $1.59 billion in 2024, to a substantial $2.12 billion in 2025, marking a compound annual growth rate (CAGR) of 33.1%. Factors such as advancements in computational capacity, the surge of biomedical data, the paradigm of precision medicine, and regulatory guidance and support contribute to the growth observed in the historic period.
Over the coming years, the market size for artificial intelligence (AI) in biopharmaceuticals is projected to expand significantly, estimated to reach a value of $6.67 billion in 2029, growing at a compound annual growth rate (CAGR) of 33.2%. This anticipated growth echos the progress in computational biology, the blend of multi-modal data, the confluence of AI and life sciences, as well as regulatory support and frameworks, together with ethical and equal AI principles. The forecast period is anticipated to observe key trends like multi-omics data integration, AI-driven methods in drug design and discovery, explainable AI gaining regulatory acceptance, technological advancements, regulatory developments, and newly emerging opportunities.
What External and Internal Drivers Are Contributing to the Growth of the artificial intelligence (ai) in biopharmaceuticals Market’s Growth?
The biopharmaceuticals market’s growth is set to be bolstered by the rising incidences of chronic diseases, which necessitate the expanded use of artificial intelligence (AI). Characterized by slow progression over many years or potentially a lifetime, chronic diseases emerge from various factors such as genetics, lifestyle, environmental triggers, and an aging populace. AI’s role in biopharmaceuticals is becoming more prominent, with its ability to process large quantities of varied data, discern patterns, and tailor treatment strategies. As proof, the Department of Health and Human Services, a United States governmental department, reported in November 2023 that newly reported cases of chronic hepatitis B had risen by 11 percent in 2022, compared to 2021. Consequently, the escalating occurrences of chronic diseases are fueling the demand for AI applications in the biopharmaceuticals market.
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Who Are the Dominant Players Expanding Their Reach in the Artificial Intelligence (AI) In Biopharmaceuticals Market?
Major companies operating in the artificial intelligence (AI) in biopharmaceuticals market are:
• Apple Inc._x000D_
• Google LLC_x000D_
• Microsoft Corporation_x000D_
• Tencent Holdings Limited_x000D_
• Amazon Web Services Inc._x000D_
What Are the Top Trends Shaping the Evolution of the Artificial Intelligence (AI) In Biopharmaceuticals Market?
Leading firms operating in the biopharmaceutical artificial intelligence (AI) sector are prioritizing the development of groundbreaking innovations such as AI-guided solutions for target and lead identification, to expedite the drug discovery process and precision medicine, thereby revolutionizing life sciences organizations. This range of solutions includes several novel methods for creating new pharmaceuticals and personalizing treatment plans for each patient. For example, in May 2023, US-based cloud computing services provider, Google LLC, introduced two novel AI-supported tools named target and lead identification suites. These were devised to assist researchers in predicting and comprehending protein structures, a critical aspect of drug development. Furthermore, these suites would enable researchers to digest, save, examine, and distribute vast quantities of genomic data, an essential factor for precision medicine. The objective of these tools is to simplify the drug discovery procedure, lower expenses, and accelerate the introduction of new therapies to the market. By offering proficient data management, precise protein structure forecasting, and cutting-edge genomic examination abilities, these tools strive to transform drug development methods and enhance patient outcomes.
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Which Growth-Oriented Segments of the Artificial Intelligence (AI) In Biopharmaceuticals Market Are Leading the Industry’s Development?
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
Which Regions Are Setting the Pace for Artificial Intelligence (AI) In Biopharmaceuticals Market Growth?
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.
What Are the Defining Features of the Artificial Intelligence (AI) In Biopharmaceuticals Market?
Artificial intelligence (AI) in biopharmaceuticals refers to applying various AI techniques to analyze complex biological data and improve various aspects of drug discovery, development, and delivery within the pharmaceutical industry. AI in biopharmaceuticals holds great promise for revolutionizing drug discovery, development, and delivery processes by accelerating timelines, reducing costs, and improving the efficiency and effectiveness of treatments.
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