The Global Artificial Intelligence (AI) in Biotechnology Market is estimated to be valued at US$ 7.11 Bn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Artificial Intelligence (AI) in Biotechnology are AstraZeneca, Bristol-Myers Squibb, Gilead Sciences, Inc., Sanofi, Abbott Laboratories, Biogen, Pfizer, Inc., Novo Nordisk A/S, Amgen, Inc., Merck KGaA, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Deep Genomics, NVIDIA Corporation, Verge Genomics, Recursion Pharmaceuticals. The companies are investing heavily in developing AI-based solutions for Target identification, drug discovery, clinical trial monitoring, and precision medicine.

The global demand for Artificial Intelligence (AI) in Biotechnology Market Size  is growing rapidly driven by increasing research capabilities for drug discovery and rising focus on precision medicine. AI helps biotechnology companies analyze enormous amounts of complex molecular, biological and health data to accelerate the drug discovery process and develop more targeted therapies.

The market is witnessing significant expansion globally with growing investments from biopharma companies and startups in developing countries like China, India, Brazil and South Korea. The increasing focus on precision medicine and population health management also provides significant opportunities for AI vendors in biotechnology. Several academic research institutions are also investing in developing AI algorithms for biomedical research.

Market drivers

One of the key drivers for the growth of artificial intelligence in biotechnology market is its ability to analyze huge amounts of complex biological and health data to accelerate the drug discovery process. AI can analyze molecular data, genomes, electronic health records at an extraordinary scale and speed which traditional methods cannot match. This has helped pharmaceutical companies identify newer drug targets and biomarkers faster. AI is also improving clinical trials by enabling more precise patient selection and monitoring of treatments. Its growing applications in personalized medicine based on genomic data of individuals is further fueling adoption.

Impact of geopolitical situation on AI in Biotechnology market growth
The current geopolitical conflicts and trade tensions have impacted the growth of AI in Biotechnology market. Countries are focusing more on domestic production capabilities to ensure medical and healthcare security. Some regions are facing bans or restrictions on technology imports which is hindering collaboration and knowledge-sharing between international researchers. However, the rising focus on tackling diseases and improving drug discovery capabilities is driving governments worldwide to invest heavily in developing indigenous AI and biotech infrastructure. Countries are forming strategic partnerships and joint research initiatives to counter global supply chain disruptions and exchange technical expertise. The opportunities for application of AI tools in precision medicine and vaccine development have increased manifold during the pandemic which is boosting market prospects. However, further global cooperation is required to ensure equitable access to life-saving innovations worldwide.

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