Unlocking the Future of the Artificial Intelligence (AI) In Biopharmaceuticals Market: Growth Rate, Key Trends, and Opportunities for 2025-2034
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How has the artificial intelligence (ai) in biopharmaceuticals market size evolved in recent years?
The market for artificial intelligence (AI) within the biopharmaceutical sector has been experiencing rapid expansion recently. Projections indicate that it will increase from $1.59 billion in 2024 to $2.12 billion in 2025, boasting a compound annual growth rate (CAGR) of 33.1%. Several factors have contributed to the growth during the historical period, including advances in computational capacity, a surge in biomedical data, the rise of precision medicine, and supportive regulatory frameworks and guidelines.
What are the predictions for the artificial intelligence (ai) in biopharmaceuticals market size in the coming years?
Over the coming years, the market size of artificial intelligence (AI) in biopharmaceuticals is projected to experience rapid growth. By 2029, it is anticipated to reach $6.67 billion, with a compound annual growth rate (CAGR) of 33.2%. The projected growth in this period is due to various factors including advancements in computational biology, multi-modal data integration, the merging of AI with life sciences, as well as the presence of regulatory support and frameworks, and the principles of ethical and fair AI. The forecast period will see key trends such as the incorporation of multi-omics data, the use of AI to drive drug design and discovery, the explanation and acceptance of AI by regulators, technological progress, regulatory developments, and emergence of new opportunities.
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What key factors are fueling the growth of the artificial intelligence (ai) in biopharmaceuticals market?
The rise in chronic disease prevalence is anticipated to fuel the expansion of the artificial intelligence (AI) in biopharmaceuticals market. Chronic conditions are often long-standing diseases that progress at a slower rate and can remain for a significant period or even for the entire life of a patient. Such conditions usually stem from lifestyle habits, an aged population, genetic susceptibilities, and environmental influences. AI in biopharmaceuticals plays a prominent role in managing chronic sickness because it scrutinizes large amounts of data from various sources, distinguishes patterns, and customizes therapeutic strategies. To exemplify, the Department of Health and Human Services reported in November 2023 that there was an 11 percent rise in newly diagnosed chronic hepatitis B cases in 2022 as opposed to 2021. Hence, the escalating prevalence of chronic illnesses fosters the advancement of artificial intelligence (AI) in the biopharmaceuticals sector.
How is the global artificial intelligence (ai) in biopharmaceuticals market divided into key segments?
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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Who are the key firms paving the way for growth in the artificial intelligence (ai) in biopharmaceuticals market?
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 Healthcare, Berg Health, Deep 6 AI Inc., Cloud Pharmaceuticals Inc., Numerate Inc., AI Therapeutics, Envisagenics, twoXAR Inc., Cyclica Inc.
Which trends are expected to transform the artificial intelligence (ai) in biopharmaceuticals market?
Leading corporations engaged in the field of artificial intelligence (AI) applied to biopharmaceuticals have a strategic focus on creating ground-breaking advancements such as AI-powered target and lead identification suites. These ground-breaking tools have the potential to expedite drug discovery processes and precision medicine, essentially transforming the modus operandi of life sciences organizations. Such AI-powered solutions involve numerous ingenious methodologies for the creation of new drugs and personalizing therapies for individual patients. For example, Google LLC, a US company specializing in cloud computing services, introduced two new innovative AI-powered tools named target and lead identification suites, in May 2023. These tools are developed to support researchers in predicting and deciphering protein structures, a key aspect of drug development. Moreover, these suites aid researchers in the efficient handling, study, and sharing of vast amounts of genomic data, a fundamental element of precision medicine. Furthermore, the tools intend to simplify the drug discovery process, minimize costs, and quicken the release of new treatments into the market. By delivering effective data management, precise predictions of protein structures, and sophisticated genomic analysis, these tools strive to revolutionize drug production processes whilst enhancing patient outcomes.
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What regions are contributing significantly to the growth of the artificial intelligence (ai) in biopharmaceuticals market?
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.
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