Global AI in Pharma and BiotechMarket
The global AI in pharma and biotech market is estimated to be worth over USD9.83 Bnin 2033 and is expected to grow at CAGR of18.5% during the forecast period (2024-2033).
The global AI in pharma and biotech market is witnessingswift growth, fuelled by notable advancements in machine learning and data analytics technologies. Significant market drivers comprise the growing adoption of AI for drug discovery and development, where AI models can swiftlyanalyseextensive datasets to detect potential drug candidates, predict outcomes, and optimize clinical trials. The growing demand for personalized medicine also fuels this market, as AI enables the analysis of genetic and patient data to customize treatments to individual needs. Additionally, the pressing need to reduce drug development costs and timeframes pushes companies to leverage AI for more efficient R&D processes.
Significant opportunities lie in the incorporation of AI with other leading-edge technologies, such as proteomics, genomics, and biomarker research, which can further propel the identification of new therapeutic targets. AI's potential to improve precision medicine, enhance diagnostic accuracy, and streamline regulatory compliance processes presents significant growth avenues. Additionally, partnerships between AI firms and pharmaceutical companies are becoming more prevalent, resulting in innovative solutions and expanding the AI applications in this sector.
Latest developments indicates AI's revolutionary impact on pharma and biotech. AI-driven platforms have successfully identified new drug candidates and repurposed existing drugs for new indications. For instance, collaborations between AI companies and major pharma players have ledto the discovery of novel compounds and the acceleration of clinical trial phases. AI is also being used to optimize manufacturing processes, ensuring higher efficacy and quality control.
Overall, the global AI in pharma and biotech market is poised for sustained expansion, with technological developments, strategic collaborations, and increasing investment in AI-driven research and development acting as major catalysts for growth.
The market report presents an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this industry, across different geographies. Amongst other elements, the market report includes:
A preface providing an introduction to the full report, AI in Pharma and Biotech market, 2023-2033.
An outline of the systematic research methodology adopted to conduct the study on AI in Pharma and Biotech market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
An overview of economic factors that impact the overall AI in Pharma and Biotech market, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
An executive summary of the insights captured during our research, offering a high-level view of the current state of the AI in Pharma and Biotech market and its likely evolution in the mid-to-long term.
A brief introduction to the AI in Pharma and Biotech, highlighting their historical background, as well as information on their types, key aspects, key challenges and the advantages of using AI in Pharma and Biotech.
A detailed assessment of the market landscape of AI in Pharma and Biotech that are either approved or being evaluated in different stages of development, based on several relevant parameters, such as By Application (Drug Discovery and Development, Clinical Trials and Optimization, Predictive Maintenance and Quality Control, Drug Target Identification, Disease Diagnosis and Prognosis, Others), By End-user (Pharmaceutical and Biotech Companies, Academic and Contract Research Organizations, Others (Ambulatory Surgical Centres, etc.)). Further, the chapter features analysis on key niche market segments. In addition, the chapter features analysis of various AI in Pharma and Biotech developers, based on their year of establishment, company size, location of headquarters and most active players.
An in-depth analysis of partnerships and collaborations that have been inked between various stakeholders, since 2019, based on several relevant parameters, such as the year of partnership, type of partnership, focus of partnership, purpose of partnership, therapeutic applications and most active players (in terms of number of partnerships). It also highlights the regional distribution of partnership activity in this market.
A detailed analysis of various investments made by companies engaged in this industry, since 2019, based on several relevant parameters, such as year of funding, type of funding (grants, seed, venture capital, initial public offering, secondary offerings, private equity and debt financing), type of HPAPIs, amount invested, geography, purpose of funding, stage of development, therapeutic area, most active players (in terms of number and amount of funding instances) and leading investors (in terms of number of funding instances).
An in-depth analysis of the various AI in Pharma and Biotech focused initiatives undertaken by big market players, based on several relevant parameters, such as number of initiatives, year of initiative, type of initiative, purpose of initiative, focus of initiative and location of headquarters of the big pharma players.
One of the key objectives of this market report was to estimate the current market size and the future growth potential of the AI in Pharma and Biotech over the forecast period. Based on several parameters, such as regional analysis as well as segmental analysis rates, we have developed informed estimates of the likely evolution of the AI in Pharma and Biotech market over the forecast period 2023-2033. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as By Application (Drug Discovery and Development, Clinical Trials and Optimization, Predictive Maintenance and Quality Control, Drug Target Identification, Disease Diagnosis and Prognosis, Others), By End-user (Pharmaceutical and Biotech Companies, Academic and Contract Research Organizations, Others (Ambulatory Surgical Centres, etc.)), by key geographical regions (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) and leading players. In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.