Artificial Intelligence (AI) in Biotechnology Market
Report ID: UCMIG35H2221
Artificial Intelligence (AI) in Biotechnology Market Size
SkyQuest Technology's Artificial intelligence (ai) in biotechnology market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Artificial Intelligence (AI) in Biotechnology Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.
Artificial Intelligence (AI) in Biotechnology Market Insights
Market Overview:
The global artificial intelligence (AI) in biotechnology market is experiencing a significant surge, with experts projecting an impressive overall revenue growth expectation amounting to hundreds of millions of dollars from 2023 to 2032. This growth is driven by the rapid advancements in AI technologies and their applications in the biotechnology sector. In 2022, North America emerged as the dominant player in the global market, largely due to its well-established biotech industry, substantial investments in AI research and development, and a conducive regulatory environment. The region's strong position is likely to persist, as key market players continue to collaborate with academic and research institutions to push the boundaries of AI in biotechnology, leading to innovative solutions in drug discovery, genomics, personalized medicine, and more. However, other regions are also witnessing a growing interest in AI integration in biotech, presenting ample opportunities for global market expansion in the coming years.
Artificial Intelligence (AI) in Biotechnology Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Biotechnology by segment aggregation, the contribution of the Biotechnology in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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