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

The field of biotechnology has witnessed rapid advancements due to technological developments in various domains including artificial intelligence and machine learning. AI is being increasingly used in biotechnology for applications ranging from drug discovery and genome analysis to clinical trial monitoring and precision medicine. AI tools help researchers to process huge volumes of genomic and proteomic data and gain novel insights into disease mechanisms. Several AI-powered techniques like deep learning, neural networks, natural language processing, and others assist in critical functions like target identification, lead optimization, toxicity prediction and biomarker discovery, thus, significantly accelerating the drug development process. AI help biotech companies in monitoring and managing clinical trials more efficiently. It also has promising applications in personalized medicine by supporting treatment recommendations tailored to individual patients' genetic profile and medical history. Global AI in biotechnology market growth is driven by rising adoption of these technologies in pharma/biotech industry and healthcare.

Market Dynamic:

Global AI in biotechnology market growth is driven by factors like increasing funding for AI startups developing solutions for healthcare and life sciences, growing volumes of complex biological and patient-generated healthcare data requiring sophisticated analysis, and rising need to enhance R&D productivity and reduce costs in drug discovery. However, factors like lack of skilled workforce, data quality issues, security and regulatory concerns related to AI and big data can hamper its adoption. Expanding applications of predictive analytics, machine learning and artificial intelligence in precision medicine, personalized therapeutics, gene therapies and diagnostics can offer market growth opportunities.

Key Features of the Study:

• This report provides in-depth analysis of the global AI in biotechnology market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global AI in biotechnology market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Intel Corporation, NVIDIA Corporation, IBM Corporation, Microsoft Corporation, Amazon Web Services, Anthropic, Berg Health, Deep Genomics, Enlitic, twoXAR, and Insilico Medicine
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global AI in biotechnology market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Detailed Segmentation-

• By Component
  
  • Software
  • Hardware
  • Services
• By Application
• • Drug Discovery & Development 
  • Clinical Trials & Optimization
  • Medical Imaging
  • Diagnostics
  • Others
• By End User
  
  • Pharmaceutical Companies
  • Biotechnology Companies 
  • Academic & Research Institutes 
  • Healthcare Providers
  • CRO & CDMO
  • Others
• By Region:         
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • 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.
  • Hoffmann-La Roche Ltd.
  • Novartis AG
  • Deep Genomics
  • NVIDIA Corporation
  • Verge Genomics
  • Recursion Pharmaceuticals