AI in BioMed forecast to reach $6 trillion by 2027
The most comprehensive mapping of companies, investors, trends, technologies and industry leaders in the AI in BioTech and HealthTech Industry Ecosystem [1] – 14,000 organizations in total – was released recently by Global AI Ecosystem, with the support of AI Industry Analytics (AiiA) and Deep Knowledge Group.
The AI in BioMed platform contains searchable and filterable profiles of 4,700 HealthTech companies, 2,300 BioTech companies, 6,000 investors, more than 250 hubs, and 600 industry leaders, alongside interactive ecosystem mindmaps and industry databases, all centred around the applications at the intersection of AI with biomedicine and healthcare.
Paradigm-shifting use-cases of AI in BioTech and HealthTech can no longer be questioned, with a wide variety of applications and high rates of AI adoption across science, industry and medicine, and strong levels of penetration in many distinct healthcare sectors covering the entire spectrum of healthcare, from basic science to clinical practice.
The platform also contains two individual sub-platforms on the AI in BioTech [2] and AI in HealthTech [3] Industry Ecosystems, outlining and visualising distinct players, technologies and sectoral distributions, each containing searchable, interactive and filterable mindmaps and industry databases of their constituent companies, investors, hubs and leaders.
Global AI in BioTech & Healthtech Industry Size Projections (USD)
Source: www.aiia.tech/economy
AI in BioTech
The AI in BioTech Ecosystem sub-platform has been established to highlight the evolving synergy between AI and biotechnology. It provides access to pioneering AI frameworks, influential investors, industry experts, and cutting-edge research facilities. It covers diverse topics from Biomarkers and Drug Discovery to NeuroTech and Space Medicine. Embodying the future of BioTech, the platform serves as the definitive gateway to insights and advancements shaping the BioPharma industry.
AI in HealthTech
Meanwhile, the AI in HealthTech Ecosystem sub-platform explores the dynamic convergence of AI and health technology. It offers a window into innovative AI methodologies, key opinion leaders, established organizations, and innovative research institutes. AI in HealthTech addresses a wide array of topics from Deep Early-Stage Diagnostic and Precision Medicine to Healthy Longevity and Healthcare InsurTech, showcasing current trends and predicts emerging ones reinforced by AI. The platform aims to provide access to knowledge and progress that defines and propels the HealthTech sector.
On order to profile the full scope of the global AI in Biomedicine industry ecosystem, AI Industry Analytics (which supported the development of the project) had first of all to develop specially-designed analytical frameworks suitable for this purpose, and then to deploy their unique suite of specialised AI algorithms to identify, extract and segregate AI in Biomedicine companies from their less technologically-proactive peers.
Global AI
Ecosystem Alongside the AI BioMed platform itself, Global AI Ecosystem has also released a first-of-its-kind Global AI in BioMed Economy Size Assessment report [4]. The study’s unique findings reveal the AI in BioMed Economy has surpassed $2.5 trillion in 2023 and is projected to reach $6 trillion by 2027. The report charts the key analyses that underlie these figures, as well as sectoral and regional economic analysis.
Substantial portions of the data utilised for specific ecosystem subsectors were provided by a number of Deep Knowledge Group life sciences subsidiaries, including Deep Pharma Intelligence, Aging Analytics Agency, and FemTech Analytics.
Commenting on the report, Dmitry Kaminskiy, Founder of AI Industry Analytics and General Partner of Deep Knowledge Group, said: “AI holds substantial potential across many industries and domains, but when it comes to healthcare, it transcends its role as a mere support tool or industry segment. Whereas just five years ago AI was considered an exotic, small sector in BioTech, today it has reached the scale of $2.5 trillion and has become a fundamental pillar of healthcare, all the way from basic science to real-world clinical applications.
“But what is much more important than the tremendous financial growth of AI in healthcare is the fact that AI in Medicine is far beyond business. Its true value must be measured not in dollars but in Quality-Adjusted-Life-Years, tangibly improved outcomes in real-world human patients, and saved lives. And in this regard we are only at the beginning, with AI quickly becoming the major engine driving the paradigm shift towards preventive and precision medicine and, eventually, Healthy Longevity.”
The AI in BioMed platform was developed by Global AI Ecosystem [5], an innovative, open-access platform designed to foster knowledge and collaboration within the AI industry. Providing access to advanced analytics, open-source libraries, interactive mindmaps, and community building infrastructure, its aim is to promote efficient cooperation and discussion among a variety of stakeholders, including companies, investors, non-profits, academic labs, R&D hubs, governmental bodies, and policy makers in the international AI community.
References:
1. www.ai-ecosystem.org/biomed
2. www.ai-ecosystem.org/biotech
3. www.ai-ecosystem.org/healthtech
4. www.aiia.tech/economy
5. www.ai-ecosystem.org
