Al in Biotechnology Market

The report "Al in Biotechnology Market by Function (Drug Design & Optimisation, Biomarker, SAR; Clinical Trial Design, Data Assessment, RWE, Inventory, Supply chain, Logistics; Launch, Pricing, Patient Engagement, Adverse Events), & End User - Global Forecast to 2029", is projected to reach USD 7.75 billion by 2029 from USD 3.23 billion in 2024, at a high CAGR of 19.1% during the forecast period.

Browse 200 market data Tables and 50 Figures spread through 300 Pages and in-depth TOC on "Al in Biotechnology Market by Function (Drug Design & Optimisation, Biomarker, SAR; Clinical Trial Design, Data Assessment, RWE, Inventory, Supply chain, Logistics; Launch, Pricing, Patient Engagement, Adverse Events), & End User - Global Forecast to 2029"
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The AI in biotechnology market is primarily driven by several key factors, such as the growing need for personalized medicine due to a greater prevalence of chronic diseases such as diabetes and cancer, which require specific treatment. Besides this, the role of AI in optimizing global supply chains for drug development, AI integration in regenerative medicine and tissue engineering, and the adoption of AI for decentralized and remote clinical trials are other strongly impacting growth factors. In addition, the increasing number of collaborations between biotechnology companies and AI providers to drive innovation and technological advancements in the market also plays an important role in driving the growth of AI in biotechnology market.

“End-to-end solutions segment drives growth in AI biotechnology market through enhanced data processing and user accessibility.”

Based on offering, the AI in biotechnology market is segmented into end-to-end solutions, niche solutions, technology providers, and services. In 2023, the end-to-end solutions segment accounted for the largest share of the AI in biotechnology market. Factors that are driving the market growth are the higher adoption of analytics as well as machine learning tools which advance in processing and interpretation of data as software solutions enable researchers and biotech firms to optimize their workflows and automate routine tasks to enhance the accuracy of their analyses. And Advances in user-friendly interfaces and visualization tools that make it easier for non-technical users to use AI technologies so that more research and development teams can use these platforms. As the demand for software applications rises, this market segment will likely continue to lead in AI in biotechnology.

“Cloud-based deployment fuels rapid growth in AI biotechnology market with flexibility and security.”

Based on the deployment mode, the cloud-based segment is expected to register the fastest growth in the AI in biotechnology market. A significant share of this segment is attributed to the growing need for flexibility of cloud deployment that enables organizations to quickly adapt to changing project requirements and access advanced analytical tools and AI algorithms without significant upfront investment. This agility is particularly beneficial in fast-paced research environments, where speed and adaptability are critical. Moreover, most cloud-based platforms come with built-in security features and compliance measures that can help address regulatory concerns over access to sensitive biological data. This alleviates the fears of organizations to embrace AI technologies without compromising data integrity and confidentiality.

“Asia Pacific to register the highest growth in AI biotechnology market through government support and strategic initiatives.”

The AI in biotechnology market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific is expected to register highest growth during the forecast period. Factors driving the growth of this region include governments promoting biotechnology initiatives through increased funding, supportive legislation, tax incentives, and international collaboration. for instance, the Chinese government has committed to increasing its biotechnology capabilities while limiting foreign control in the 13th Five-Year Plan, the Philippines government plans to increase economic growth by adopting the fourth industrial revolution technologies (3D printing, the Internet of Things, AI, robotics, big data and cloud computing), India government taking initiatives like 'Bio-Nest' incubators aim to support over 120 biotech startups, emphasizing collaboration between government and the private sector to positioning India as a key player in the global biotech arena.

Key Market Players:

The key players functioning in the AI in biotecnology market include NVIDIA Corporation (US), Illumina, Inc. (US), Exscientia plc (UK), Schrödinger, Inc. (US), Recursion Pharmaceuticals, Inc.  (US), SOPHiA GENETICS (Switzerland), Predictive Oncology. (US),Deep Genomics. (Canada), Exscientia (US), and Data4Cure, Inc.

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