The artificial intelligence (AI) in biotechnology market is experiencing significant growth, driven by advancements in AI technologies and their applications in the biotechnology sector. The global market size is expected to reach $27.43 billion by 2034, growing at a compound annual growth rate (CAGR) of 19.29% from 2024 to 2034.
The increasing adoption of AI in biopharmaceutical industries is a major driver of growth, as pharmaceutical companies are using AI to improve the drug discovery process, reduce costs, and enhance decision-making capabilities. Rapid advancements in AI technologies, such as machine learning and deep learning, are also enabling the development of innovative solutions in biotechnology.
The growing demand for personalized medicine is another factor driving the adoption of AI in biotechnology, as AI can help analyze large amounts of data to develop targeted treatments. North America is expected to dominate the global AI in biotechnology market, driven by the presence of leading biotech companies and research institutions. The Asia Pacific region is also expected to witness significant growth, driven by government initiatives promoting domestic innovation and the increasing adoption of AI in biotechnology applications.
