Artificial Intelligence (AI) in Biopharmaceuticals Global Market Report 2024

The artificial intelligence (AI) in biopharmaceuticals market size has grown exponentially in recent years. It will grow from $1.19 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 33.8%. The growth observed during the historical period can be credited to advancements in computational capabilities, the proliferation of biomedical data, the emergence of precision medicine approaches, as well as regulatory backing and direction.

The artificial intelligence (AI) in biopharmaceuticals market size is expected to see exponential growth in the next few years. It will grow to $4.99 billion in 2028 at a compound annual growth rate (CAGR) of 33.1%. The projected growth in the upcoming period is expected to stem from progressions in computational biology, the amalgamation of multi-modal data, the intersection of AI and life sciences, regulatory backing and frameworks, as well as the adoption of ethical and equitable AI principles. Key trends anticipated in the forecast period comprise the integration of multi-omics data, AI-driven drug design and discovery, explainable AI with regulatory acceptance, technological enhancements, regulatory evolutions, and emerging opportunities.

The increasing prevalence of chronic diseases is anticipated to drive the growth of the artificial intelligence (AI) in biopharmaceuticals market in the coming years. Chronic diseases, characterized by long-lasting conditions that progress slowly and may persist for years or even a lifetime, stem from various factors including lifestyle choices, an aging population, genetic predispositions, and environmental influences. AI in biopharmaceuticals is increasingly leveraged to address chronic diseases as it enables the analysis of large volumes of diverse data sources, identification of patterns, and personalization of treatment approaches. For instance, according to the National Library of Medicine, chronic diseases are projected to increase by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Consequently, the rising prevalence of chronic diseases fuels the growth of artificial intelligence (AI) in the biopharmaceuticals market.

Key players in artificial intelligence (AI) in biopharmaceuticals are focused on developing innovative advancements such as target and lead identification suite AI-powered solutions to expedite drug discovery and enable precision medicine, thereby transforming life sciences organizations. These solutions for drug discovery and precision medicine encompass a variety of innovative approaches to developing new drugs and tailoring treatments to individual patients. For example, in May 2023, Google LLC, a US-based provider of cloud computing services, introduced two new AI-powered tools named target and lead identification suites. These tools are designed to assist researchers in predicting and understanding the structure of proteins, a fundamental aspect of drug development. Additionally, the suite facilitates the ingestion, storage, analysis, and sharing of large volumes of genomic data, crucial for precision medicine initiatives. Furthermore, these tools streamline the drug discovery process, reduce costs, and expedite the introduction of new treatments to market. By offering efficient data management, accurate predictions of protein structures, and advanced genomic analysis capabilities, these tools aim to revolutionize drug development processes and enhance patient outcomes.

In February 2023, ZS Associates, a management consulting and technology firm based in the United States, successfully acquired Trials.ai Inc. for an undisclosed sum. This strategic acquisition is geared towards elevating design processes within the pharmaceutical industry by harnessing artificial intelligence (AI). The goal is to optimize operational speed, enhance participant experiences, and accelerate the delivery of pharmaceutical therapies to the market. Trials.ai Inc., headquartered in the US, specializes in revolutionizing clinical trials through the application of artificial intelligence (AI) and machine learning (ML) technologies.

Major companies operating in the artificial intelligence (ai) in biopharmaceuticals market are Apple Inc., Google LLC, Microsoft Corporation, Tencent Holdings Limited, Amazon Web Services Inc., International Business Machines Corporation, Exscientia Limited, NVIDIA Corporation, Amgen Inc., DeepMind Technologies Limited, Schrödinger Inc., XtalPi Inc., ConcertAI Inc., Insilico Medicine Inc., Recursion Pharmaceuticals, BenevolentAI, BioXcel Therapeutics, Atomwise Inc., BioAge Labs Inc., GNS Healthcare, Berg Health, Deep 6 AI Inc., Cloud Pharmaceuticals Inc., Numerate Inc., AI Therapeutics, Envisagenics, twoXAR Inc., Cyclica Inc.

North America was the largest region in the artificial intelligence (AI) in biopharmaceuticals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (ai) in biopharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial intelligence (ai) in biopharmaceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Artificial intelligence (AI) applied in the biopharmaceutical sector involves the utilization of diverse AI techniques to analyze intricate biological data and enhance different aspects of drug discovery, development, and delivery within the pharmaceutical domain. This application of AI holds significant potential for transforming drug discovery, development, and delivery processes by expediting timelines, cutting costs, and enhancing the efficiency and efficacy of treatments.

The primary categories of offerings in artificial intelligence (AI) within the biopharmaceutical sector encompass hardware, software, and services. Hardware pertains to the tangible components of a computer system, including devices such as memory, disk drives, controllers, and specialized software such as database management systems. These offerings span various deployment models, encompassing both cloud-based and on-premises solutions. The technologies employed include machine learning, natural language processing, and deep learning, with applications spanning business processes, supply chains, drug discovery, medical imaging and diagnostics, and precision medicine. The end users of these AI solutions are diverse, ranging from manufacturers and contract research organizations to academic and government research institutes.

The artificial intelligence (AI) in biopharmaceuticals market research report is one of a series of new reports that provides artificial intelligence (AI) in biopharmaceuticals market statistics, including artificial intelligence (AI) in biopharmaceuticals industry global market size, regional shares, competitors with an artificial intelligence (AI) in biopharmaceuticals market share, detailed artificial intelligence (AI) in biopharmaceuticals market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) in biopharmaceuticals industry. This artificial intelligence (AI) in biopharmaceuticals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The artificial intelligence (AI) in biopharmaceuticals market consists of revenues earned by entities by services such as drug discovery, personalized medicine analytics, clinical trial optimization, healthcare decision support, and data integration and analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence (AI) in biopharmaceuticals market also includes of sales of decision support System, predictive modeling tools, robotics, and automation systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.