ARTIFICIAL INTELLIGENCE (AI) IN BIOTECHNOLOGY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Clinical trial recruitment and retention

Increasing complexity of clinical trials can drive the AI in biotechnology market growth. Recruiting patients and retaining them through the entire clinical trial process is challenging for biotech companies. AI can help address these issues by identifying more eligible candidates through advanced analytics of patient datasets. It allows targeting personalized outreach by leveraging parameters like medical history, demographics, habits and proximity to the hospital. This focused recruitment using AI improves participant diversity and reduces screening failure rates. Once enrolled, keeping patients engaged throughout the trial requires significant manual effort. Non-compliance to treatment protocols or dropping out prematurely impacts trial timelines and results. Thus, AI continuously monitor participants through digital technologies. Technologies like mobile apps, wearables and remote monitoring devices provide vital signs, medication intake details, and others on a real-time basis. AI tools can identify early signs of disengagement or non-adherence by spotting anomalies in the data patterns. Timely interventions like counselling sessions or extra care can be initiated to boost retention. The use of AI for predictive modelling also helps estimate at-risk patients. 

• 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