Overview:
Generative AI, an offshoot of artificial intelligence, has quickly become a game-changer in biological research and healthcare applications. Leveraging deep learning algorithms and neural networks, this revolutionary technology produces data, models, and insights that deepen our understanding of complex biological systems. As such, its growth is experiencing dramatic expansion as research processes accelerate further while novel drug candidates emerge and healthcare solutions improve dramatically.
Global Generative AI in Biology Industry size is expected to be worth around USD 346.9 million by 2032 from USD 72.0 million in 2022, growing at a CAGR of 17.50 %. during the forecast period from 2023 to 2032.
Key Market Segments
Based On Application
- Medical Imaging
- Genomics and Proteomics
- Drug Discovery and Development
- Protein Engineering
- Synthetic Biology
- Other Applications
Based On Technology
- Generative Adversarial Networks
- Variational Autoencoders
- Reinforcement Learning
- Other Technologies
Based On End-User
- Pharmaceutical and Biotechnology Companies
- Research Institutions
- Healthcare Provider
- Other End-Users
Restraining Factors:
Although generative AI in biology offers tremendous promise, several factors limit its widespread adoption. First of all, its high computational requirements and data requirements may make its widespread implementation prohibitively expensive for smaller research institutions and companies; data privacy and ethical concerns also need to be considered when producing biological data that may raise patient consent issues and security threats; lastly, interpretability remains an obstacle that hinders regulatory approval and build trust among healthcare professionals.
Market Key Players
- NVIDIA Corporation
- IBM Corporation
- BenevolentAI
- DeepMind Technologies Limited
- Insilico Medicine
- Recursion Pharmaceuticals
- Zymergen
- Other Key Players
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