According to Prophecy Market Insights, the global Artificial Intelligence (AI) in Biotechnology Market size and share is projected to grow from USD 3.4 Million in 2024 to reach USD 17.1 Million by 2034, exhibiting a compound annual growth rate (CAGR) of 19.4% during the forecast period (2024 – 2034).
Artificial Intelligence (AI) in Biotechnology Market Report Overview
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Artificial Intelligence (AI) is transforming the biotechnology industry by enabling advanced data analysis, enhancing drug discovery, and improving decision-making processes across various applications such as genomics, proteomics, and bioinformatics.
In biotechnology, AI algorithms can sift through vast datasets to identify patterns and insights that may not be easily detectable through traditional methods, accelerating research and development (R&D) and fostering innovation. AI-driven technologies like machine learning (ML) and deep learning (DL) are revolutionizing areas like drug design, personalized medicine, and genetic engineering, making biotechnology more efficient and cost-effective.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of market
- Drivers & Restrains factors of market
- Major key players in market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent development/news of market
- Opportunities & Challenges of Market
Competitive Landscape:
The Artificial Intelligence (AI) in Biotechnology Market is characterized by rapid growth, technological innovation and fierce competition. Companies are expanding their global presence, focusing on sustainability and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- IBM Watson Health
- Google DeepMind
- Microsoft Genomics
- NVIDIA Corporation
- Insilico Medicine
- Atomwise
- BenevolentAI
- Exscientia
- Cyclica
- PathAI
- Zebra Medical Vision
- Recursion Pharmaceuticals
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Analyst View:
The target market is experiencing rapid growth due to the increasing demand for faster drug discovery, the rising prevalence of chronic diseases and the ongoing advancements in computational biology. Researchers believe that this market will revolutionize the biotech sector since artificial intelligence (AI) can significantly cut the time and expense of research and development.
Market Dynamics:
Drivers:
Growing Need for Efficient Drug Discovery
- Conventional drug development methods are costly and time-consuming. Large biological data sets can be analyzed by AI, which speeds up the process of finding possible treatment candidates. This makes AI crucial for upcoming biotech breakthroughs as it enables pharmaceutical companies drastically reduce R&D time and expenses.
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Market Trends:
AI-Powered Genomics and Proteomics
- The use of artificial intelligence in genomics and proteomics is one of the most prominent trends. AI helps in analyzing complex genetic and protein datasets to identify disease-related biomarkers driving advances in predictive diagnostics and precision medicine.
Segmentation:
Artificial Intelligence (AI) in Biotechnology Market is segmented based on Offering, Application, Usage, and Region.
Offering Insights
- Software & services segment is anticipated to boost the growth for target market due to the extensive use of AI algorithms, machine learning (ML) models, and data analytics tools that are critical for processing and interpreting large biological datasets. AI-powered software platforms are integral in applications like drug discovery, genomic analysis, bioinformatics, and clinical trials.
Application Insights
- Therapeutic Development is the most dominating and widely used in the target market growth as AI is revolutionizing therapeutic development by accelerating drug discovery processes, optimizing clinical trials, and identifying potential drug candidates through predictive modeling. AI-driven platforms can rapidly analyze large datasets of chemical, biological, and genetic information to uncover relationships between molecules and diseases, enabling faster and more accurate drug development.
Usage Insights
- Clinical biotechnology is the most dominating and widely used in the target market growth as this segment dominates due to the high demand for AI-driven solutions in drug development, precision medicine, and clinical trials. AI algorithms help process vast amounts of patient data, including genomic information, to identify potential treatments faster and with greater accuracy.
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Recent Development:
- In July 2023, In order to accelerate the development of Recursion Pharmaceuticals’ artificial intelligence models for drug discovery, chipmaker Nvidia has agreed to invest $50 million in the biotech company. Following the news, Recursion’s stock surged by 80%. A rise of more than 2% in Nvidia’s shares has helped the stock market this year as anticipations for its AI processing processors have grown.
Regional Insights
- North America: The adoption of AI for drug discovery, precision medicine and clinical trials is highly advanced as large pharmaceutical companies and startups utilize AI to expedite drug development and reduce costs in this region.
- Asia Pacific: AI-driven applications in genomics, personalized medicine, and diagnostic tools are rapidly expanding in the region. Collaborations with AI startups and academic institutes are driving further growth as biopharma businesses in this region strive to compete globally establishing the area as a prominent player in the future of AI in biotechnology.
Browse Detail Report on “Artificial Intelligence (AI) in Biotechnology Market Size, Share, By Offering (Hardware, and Software & Services), By Application (Health Informatics, Therapeutic Development, Epidemiological Modeling, Remote monitoring & Wearable, and Others), By Usage (Forensic Biotechnology, Clinical Biotechnology, Environmental Monitoring, and Others), and By Region – Trends, Analysis, and Forecast till 2034” with complete TOC @ https://www.prophecymarketinsights.com/market_insight/agricultural-nanotechnology-market-5534
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