The global AI in pharma and biotech market is expected to grow on the basis of requirement for speedy drug development and availability of genome editing through AI. The drug discovery process is such that hardly one out of 5,000-10,000 compounds are approved in the form of potential drug for a specific condition. AI has the capacity of significantly reducing costs and time associated with launching new drugs.
The key players in AI in pharma and biotech market are exploring the incorporation of clinical trial simulation platforms for fast-tracking clinical trials and helping the biotech and pharmaceutical companies serve the patients better. As per the experts in pharma and biotech, more than 50% of drugs would be produced using AI by the year 2030.
Integrating AI into pharma and biotech is expected to fortify the healthcare vertical in the near future. AI fastens research by optimization of experiments that focus on impactful targets. They also facilitate virtual screening, thereby leading to diversified testing at the faster rate. Developing epitope selection, binding, and prediction tools results in notable acceleration of discovery of vaccines and the other therapeutics.
However, AI algorithms many not match the creative insight and nuanced understanding that experienced researchers possess. The other challenges such as missing metadata on assay or cell culture conditions beyond the experimental outcomes may restrain the AI in pharma and biotech market during the forecast period.
| Attribute | Detail |
|---|---|
| AI in Pharma and Biotech Market Drivers |
|
Drug discovery means sorting and cross-referencing billions of molecular designs and compounds. This process is cumbersome. AI tools can aid by carrying out these operations speedily. It is, however, important to optimize the models of prediction-first datasets in order to unleash the benefits of AI analytics. Computational solutions facilitate more effective verification of various biological hypotheses, thereby allowing data to be translated into real therapeutics.
AI tools also help pharma companies to be versatile. For instance, they can work simultaneously on various new drugs at once using multiple complex workflows such as molecular engineering, sequencing, validation, and mapping using AI. It helps in standardizing and streamlining data integration across several disparate processes, and improves speed of drug development by reduction of costs.
Need to expedite drug discovery is thus accelerating the global AI in pharma and biotech market.
AI contributes toward prediction and optimization of genome editing methods such as CRISPR-Cas9. The Machine Learning algorithms are capable of analyzing vast genetic sequence datasets, which can be used for steering the development of more effective and precise genome editing technologies. This could be accomplished by predicting the probable off-target consequences.
Genome editing technologies allow accurate alteration of the DNA sequences in living cells. This, in turn, helps in transforming one’s ability of studying gene functionality and devise new therapeutic strategies. For instance, in a cancer-affected patient, AI models can use genomic data for identifying cancer subtypes. CRISPR-based genome editing can help in producing immune cells capable of disrupting oncogenes.
Need to speedily develop novel therapeutics for cancer and various other targeted diseases using gene editing is thus driving the AI in pharma and biotech market opportunities.
| Attribute | Detail |
|---|---|
| Leading Region | North America |
As per the latest AI in pharma and biotech market analysis, North America held the largest share in AI-driven biotechnology landscape in 2023. The region is expected to continue with its dominance during the forecast period. This is attributed to the governments of the U.S. and Canada extensively promoting precision medicine, along with rise in adoption of AI-based tools for drug discovery.
The U.S. is also encouraging cross-country partnerships and collaborations, which is positively impacting the AI in pharma and biotech market growth. For instance, in March 2022, Insilico Medicine strategically collaborated with EQRx in order to combine their individual expertise in de novo small molecule design and its commercialization. In December 2021, Amazon Web services entered into collaboration with Pfizer for developing cloud-based solutions to improve testing in the clinical trials.
North America is also witnessing establishment of new-fangled AI centers. For instance, in June 2022, Sanofi opened an AI Center of Excellence in Toronto to emphasize development of world class AI products to enhance access to the life-saving medicines.
AI in pharma and biotech market manufacturers are opting for organic as well as inorganic modes of expansion to strengthen their position. For instance, in May 2023, Google Cloud introduced the Target and Lead Identification Suite, and Multiomics Suite in order to accelerate the drug discovery and precision medicine for pharmaceutical firms, biotech companies, and public sector organizations. Around the same time, 9xchange entered into partnership with BenevolentAI in order to utilize the former’s AI-enabled technology to extend support to decision-making pertaining to drug repurposing for the assets within 9xchange platform.
BenevolentAI SA, Insilico Medicine, Recursion Pharmaceuticals, Atomwise Inc., Berg LLC, Cloud Pharmaceuticals, Deep Genomics, Exscientia, Schrödinger, twoXar, Inc., and Insitro are some of the key participants covered in the AI in pharma and biotech market report.
These companies have been profiled based on parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.
| Attribute | Detail |
|---|---|
| Market Size in 2023 | US$ 1.8 Bn |
| Market Forecast (Value) in 2034 | US$ 13.1 Bn |
| Growth Rate (CAGR) | 18.8% |
| Forecast Period | 2024-2034 |
| Historical Data Available for | 2020-2022 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
|
| Format | Electronic (PDF) + Excel |
| Market Segmentation |
|
| Regions Covered |
|
| Countries Covered |
|
| Companies Profiled |
|
| Customization Scope | Available Upon Request |
| Pricing | Available Upon Request |
It was valued at US$ 1.8 Bn in 2023
It is projected to grow at a CAGR of 18.8% from 2024 to 2034
Need to reduce time in drug development and facilitation of editing gene structures
Pharmaceutical & biotech companies segment accounted for the largest share in 2023
North America was the dominant region in 2023
BenevolentAI SA, Insilico Medicine, Recursion Pharmaceuticals, Atomwise Inc., Berg LLC, Cloud Pharmaceuticals, Deep Genomics, Exscientia, Schrödinger, twoXar, Inc., and Insitro
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global AI in Pharma and Biotech Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution/Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global AI in Pharma and Biotech Market Analysis and Forecast, 2020-2034
5. Key Insights
5.1. Pipeline Analysis
5.2. Key Product/Brand Analysis
5.3. Key Mergers & Acquisitions
5.4. COVID-19 Pandemic Impact on Industry
6. Global AI in Pharma and Biotech Market Analysis and Forecast, by Application
6.1. Introduction & Definition
6.2. Key Findings/Developments
6.3. Market Value Forecast, by Application, 2020-2034
6.3.1. Drug Discovery and Development
6.3.2. Clinical Trials and Optimization
6.3.3. Predictive Maintenance and Quality Control
6.3.4. Drug Target Identification
6.3.5. Disease Diagnosis & Prognosis
6.3.6. Others
6.4. Market Attractiveness Analysis, by Application
7. Global AI in Pharma and Biotech Market Analysis and Forecast, by End-user
7.1. Introduction & Definition
7.2. Key Findings/Developments
7.3. Market Value Forecast, by End-user, 2020-2034
7.3.1. Pharmaceutical & Biotech Companies
7.3.2. Academic & Contract Research Organizations
7.3.3. Others
7.4. Market Attractiveness Analysis, by End-user
8. Global AI in Pharma and Biotech Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Value Forecast, by Region, 2020-2034
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness Analysis, by Region
9. North America AI in Pharma and Biotech Market Analysis and Forecast
9.1. Introduction
9.2. Key Findings
9.3. Market Value Forecast, by Application, 2020-2034
9.3.1. Drug Discovery and Development
9.3.2. Clinical Trials and Optimization
9.3.3. Predictive Maintenance and Quality Control
9.3.4. Drug Target Identification
9.3.5. Disease Diagnosis & Prognosis
9.3.6. Others
9.4. Market Value Forecast, by End-user, 2020-2034
9.4.1. Pharmaceutical & Biotech Companies
9.4.2. Academic & Contract Research Organizations
9.4.3. Others
9.5. Market Value Forecast, by Country, 2020-2034
9.5.1. U.S.
9.5.2. Canada
9.6. Market Attractiveness Analysis
9.6.1. By Application
9.6.2. By End-user
9.6.3. By Country
10. Europe AI in Pharma and Biotech Market Analysis and Forecast
10.1. Introduction
10.2. Key Findings
10.3. Market Value Forecast, by Application, 2020-2034
10.3.1. Drug Discovery and Development
10.3.2. Clinical Trials and Optimization
10.3.3. Predictive Maintenance and Quality Control
10.3.4. Drug Target Identification
10.3.5. Disease Diagnosis & Prognosis
10.3.6. Others
10.4. Market Value Forecast, by End-user, 2020-2034
10.4.1. Pharmaceutical & Biotech Companies
10.4.2. Academic & Contract Research Organizations
10.4.3. Others
10.5. Market Value Forecast, by Country/Sub-region, 2020-2034
10.5.1. Germany
10.5.2. U.K.
10.5.3. France
10.5.4. Italy
10.5.5. Spain
10.5.6. Rest of Europe
10.6. Market Attractiveness Analysis
10.6.1. By Application
10.6.2. By End-user
10.6.3. By Country/Sub-region
11. Asia Pacific AI in Pharma and Biotech Market Analysis and Forecast
11.1. Introduction
11.2. Key Findings
11.3. Market Value Forecast, by Application, 2020-2034
11.3.1. Drug Discovery and Development
11.3.2. Clinical Trials and Optimization
11.3.3. Predictive Maintenance and Quality Control
11.3.4. Drug Target Identification
11.3.5. Disease Diagnosis & Prognosis
11.3.6. Others
11.4. Market Value Forecast, by End-user, 2020-2034
11.4.1. Pharmaceutical & Biotech Companies
11.4.2. Academic & Contract Research Organizations
11.4.3. Others
11.5. Market Value Forecast, by Country/Sub-region, 2020-2034
11.5.1. China
11.5.2. Japan
11.5.3. India
11.5.4. Australia & New Zealand
11.5.5. Rest of Asia Pacific
11.6. Market Attractiveness Analysis
11.6.1. By Application
11.6.2. By End-user
11.6.3. By Country/Sub-region
12. Latin America AI in Pharma and Biotech Market Analysis and Forecast
12.1. Introduction
12.2. Key Findings
12.3. Market Value Forecast, by Application, 2020-2034
12.3.1. Drug Discovery and Development
12.3.2. Clinical Trials and Optimization
12.3.3. Predictive Maintenance and Quality Control
12.3.4. Drug Target Identification
12.3.5. Disease Diagnosis & Prognosis
12.3.6. Others
12.4. Market Value Forecast, by End-user, 2020-2034
12.4.1. Pharmaceutical & Biotech Companies
12.4.2. Academic & Contract Research Organizations
12.4.3. Others
12.5. Market Value Forecast, by Country/Sub-region, 2020-2034
12.5.1. Brazil
12.5.2. Mexico
12.5.3. Rest of Latin America
12.6. Market Attractiveness Analysis
12.6.1. By Application
12.6.2. By End-user
12.6.3. By Country/Sub-region
13. Middle East & Africa AI in Pharma and Biotech Market Analysis and Forecast
13.1. Introduction
13.2. Key Findings
13.3. Market Value Forecast, by Application, 2020-2034
13.3.1. Drug Discovery and Development
13.3.2. Clinical Trials and Optimization
13.3.3. Predictive Maintenance and Quality Control
13.3.4. Drug Target Identification
13.3.5. Disease Diagnosis & Prognosis
13.3.6. Others
13.4. Market Value Forecast, by End-user, 2020-2034
13.4.1. Pharmaceutical & Biotech Companies
13.4.2. Academic & Contract Research Organizations
13.4.3. Others
13.5. Market Value Forecast, by Country/Sub-region, 2020-2034
13.5.1. GCC Countries
13.5.2. South Africa
13.5.3. Rest of Middle East & Africa
13.6. Market Attractiveness Analysis
13.6.1. By Application
13.6.2. By End-user
13.6.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player - Competitive Matrix (by Tier and Size of Companies)
14.2. Market Share Analysis, by Company (2023)
14.3. Company Profiles
14.3.1. BenevolentAI SA
14.3.1.1. Company Overview
14.3.1.2. Product Portfolio
14.3.1.3. SWOT Analysis
14.3.1.4. Financial Overview
14.3.1.5. Strategic Overview
14.3.2. Insilico Medicine
14.3.2.1. Company Overview
14.3.2.2. Product Portfolio
14.3.2.3. SWOT Analysis
14.3.2.4. Financial Overview
14.3.2.5. Strategic Overview
14.3.3. Recursion Pharmaceuticals
14.3.3.1. Company Overview
14.3.3.2. Product Portfolio
14.3.3.3. SWOT Analysis
14.3.3.4. Financial Overview
14.3.3.5. Strategic Overview
14.3.4. Atomwise Inc.
14.3.4.1. Company Overview
14.3.4.2. Product Portfolio
14.3.4.3. SWOT Analysis
14.3.4.4. Financial Overview
14.3.4.5. Strategic Overview
14.3.5. Berg LLC
14.3.5.1. Company Overview
14.3.5.2. Product Portfolio
14.3.5.3. SWOT Analysis
14.3.5.4. Financial Overview
14.3.5.5. Strategic Overview
14.3.6. Cloud Pharmaceuticals
14.3.6.1. Company Overview
14.3.6.2. Product Portfolio
14.3.6.3. SWOT Analysis
14.3.6.4. Financial Overview
14.3.6.5. Strategic Overview
14.3.7. Deep Genomics
14.3.7.1. Company Overview
14.3.7.2. Product Portfolio
14.3.7.3. SWOT Analysis
14.3.7.4. Financial Overview
14.3.7.5. Strategic Overview
14.3.8. Exscientia
14.3.8.1. Company Overview
14.3.8.2. Product Portfolio
14.3.8.3. SWOT Analysis
14.3.8.4. Financial Overview
14.3.8.5. Strategic Overview
14.3.9. Schrödinger
14.3.9.1. Company Overview
14.3.9.2. Product Portfolio
14.3.9.3. SWOT Analysis
14.3.9.4. Financial Overview
14.3.9.5. Strategic Overview
14.3.10. twoXar, Inc.
14.3.10.1. Company Overview
14.3.10.2. Product Portfolio
14.3.10.3. SWOT Analysis
14.3.10.4. Financial Overview
14.3.10.5. Strategic Overview
14.3.11. Insitro
14.3.11.1. Company Overview
14.3.11.2. Product Portfolio
14.3.11.3. SWOT Analysis
14.3.11.4. Financial Overview
14.3.11.5. Strategic Overview
List of Tables
Table 01: Global AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Application, 2020-2034
Table 02: Global AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by End-user, 2020-2034
Table 03: Global AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Region, 2020-2034
Table 04: North America AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Country, 2020-2034
Table 05: North America AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Application, 2020-2034
Table 06: North America AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by End-user, 2020-2034
Table 07: Europe AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Country/Sub-region, 2020-2034
Table 08: Europe AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Application, 2020-2034
Table 09: Europe AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by End-user, 2020-2034
Table 10: Asia Pacific AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Country/Sub-region, 2020-2034
Table 11: Asia Pacific AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Application, 2020-2034
Table 12: Asia Pacific AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by End-user, 2020-2034
Table 13: Latin America AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Country/Sub-region, 2020-2034
Table 14: Latin America AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Application, 2020-2034
Table 15: Latin America AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by End-user, 2020-2034
Table 16: Middle East & Africa AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Country/Sub-region, 2020-2034
Table 17: Middle East & Africa AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by Application, 2020-2034
Table 18: Middle East & Africa AI in Pharma and Biotech Market Size (US$ Bn) Forecast, by End-user, 2020-2034
List of Figures
Figure 01: Global AI in Pharma and Biotech Market Size (US$ Bn) and Distribution (%), by Region, 2023 and 2034
Figure 02: Global AI in Pharma and Biotech Market Revenue (US$ Bn), by Application, 2023
Figure 03: Global AI in Pharma and Biotech Market Value Share, by Application, 2023
Figure 04: Global AI in Pharma and Biotech Market Revenue (US$ Bn), by End-user, 2023
Figure 05: Global AI in Pharma and Biotech Market Value Share, by End-user, 2023
Figure 06: Global AI in Pharma and Biotech Market Value Share, by Region, 2023
Figure 07: Global AI in Pharma and Biotech Market Value (US$ Bn) Forecast, 2023-2034
Figure 08: Global AI in Pharma and Biotech Market Value Share Analysis, by Application, 2023 and 2034
Figure 09: Global AI in Pharma and Biotech Market Attractiveness Analysis, by Application, 2023-2034
Figure 10: Global AI in Pharma and Biotech Market Value Share Analysis, by End-user, 2023 and 2034
Figure 11: Global AI in Pharma and Biotech Market Attractiveness Analysis, by End-user, 2023-2034
Figure 12: Global AI in Pharma and Biotech Market Value Share Analysis, by Region, 2023 and 2034
Figure 13: Global AI in Pharma and Biotech Market Attractiveness Analysis, by Region, 2023-2034
Figure 14: North America AI in Pharma and Biotech Market Value (US$ Bn) Forecast and Y-o-Y Growth (%), 2020-2034
Figure 15: North America AI in Pharma and Biotech Market Attractiveness Analysis, by Country, 2023-2034
Figure 16: North America AI in Pharma and Biotech Market Value Share Analysis, by Country, 2023 and 2034
Figure 17: North America AI in Pharma and Biotech Market Value Share Analysis, by Application, 2023 and 2034
Figure 18: North America AI in Pharma and Biotech Market Value Share Analysis, by End-user, 2023 and 2034
Figure 19: North America AI in Pharma and Biotech Market Attractiveness Analysis, by Application, 2023-2034
Figure 20: North America AI in Pharma and Biotech Market Attractiveness Analysis, by End-user, 2023-2034
Figure 21: Europe AI in Pharma and Biotech Market Value (US$ Bn) Forecast and Y-o-Y Growth (%), 2020-2034
Figure 22: Europe AI in Pharma and Biotech Market Attractiveness Analysis, by Country/Sub-region, 2023-2034
Figure 23: Europe AI in Pharma and Biotech Market Value Share Analysis, by Country/Sub-region, 2023 and 2034
Figure 24: Europe AI in Pharma and Biotech Market Value Share Analysis, by Application, 2023 and 2034
Figure 25: Europe AI in Pharma and Biotech Market Value Share Analysis, by End-user, 2023 and 2034
Figure 26: Europe AI in Pharma and Biotech Market Attractiveness Analysis, by Application, 2023-2034
Figure 27: Europe AI in Pharma and Biotech Market Attractiveness Analysis, by End-user, 2023-2034
Figure 28: Asia Pacific AI in Pharma and Biotech Market Value (US$ Bn) Forecast and Y-o-Y Growth (%), 2020-2034
Figure 29: Asia Pacific AI in Pharma and Biotech Market Attractiveness Analysis, by Country/Sub-region, 2023-2034
Figure 30: Asia Pacific AI in Pharma and Biotech Market Value Share Analysis, by Country/Sub-region, 2023 and 2034
Figure 31: Asia Pacific AI in Pharma and Biotech Market Value Share Analysis, by Application, 2023 and 2034
Figure 32: Asia Pacific AI in Pharma and Biotech Market Value Share Analysis, by End-user, 2023 and 2034
Figure 33: Asia Pacific AI in Pharma and Biotech Market Attractiveness Analysis, by Application, 2023-2034
Figure 34: Asia Pacific AI in Pharma and Biotech Market Attractiveness Analysis, by End-user, 2023-2034
Figure 35: Latin America AI in Pharma and Biotech Market Value (US$ Bn) Forecast and Y-o-Y Growth (%), 2020-2034
Figure 36: Latin America AI in Pharma and Biotech Market Attractiveness Analysis, by Country/Sub-region, 2023-2034
Figure 37: Latin America AI in Pharma and Biotech Market Value Share Analysis, by Country/Sub-region, 2023 and 2034
Figure 38: Latin America AI in Pharma and Biotech Market Value Share Analysis, by Application, 2023 and 2034
Figure 39: Latin America AI in Pharma and Biotech Market Value Share Analysis, by End-user, 2023 and 2034
Figure 40: Latin America AI in Pharma and Biotech Market Attractiveness Analysis, by Application, 2023-2034
Figure 41: Latin America AI in Pharma and Biotech Market Attractiveness Analysis, by End-user, 2023-2034
Figure 42: Middle East & Africa AI in Pharma and Biotech Market Size (US$ Bn) Forecast and Y-o-Y Growth (%), 2020-2034
Figure 43: Middle East & Africa AI in Pharma and Biotech Market Attractiveness Analysis, by Country/Sub-region, 2023-2034
Figure 44: Middle East & Africa AI in Pharma and Biotech Market Value Share Analysis, by Country/Sub-region, 2023 and 2034
Figure 45: Middle East & Africa AI in Pharma and Biotech Market Value Share Analysis, by Application, 2023 and 2034
Figure 46: Middle East & Africa AI in Pharma and Biotech Market Value Share Analysis, by End-user, 2023 and 2034
Figure 47: Middle East & Africa AI in Pharma and Biotech Market Attractiveness Analysis, by Application, 2023-2034
Figure 48: Middle East & Africa AI in Pharma and Biotech Market Attractiveness Analysis, by End-user, 2023-2034
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
AI in Pharma and Biotech Market
