Artificial Intelligence in Precision Medicine Market Size

Artificial Intelligence in Precision Medicine Market size accounted for USD 1.2 billion in 2022 and is estimated to grow at 30.8% to reach USD 17.1 billion by 2032. The increasing investment in research and development (R&D) and the rising need for personalized medications are fuelling the market growth. Global precision medicine market is projected to register a CAGR of over 11.5% in the forecast period.

Also, collaboration among major companies is playing a significant role in driving the expansion of the industry. For instance, in January 2023, Sanofi collaborated with Exscientia to develop AI-driven pipeline of precision-engineered medicines. The collaboration aimed to jointly develop up to 15 innovative small molecule candidates in the fields of oncology and immunology. This collaboration leverage Exscientia’s AI-based capabilities and personalised medicine platform from target identification through patient selection.

Artificial intelligence (AI) in precision medicine refers to the utilization of advanced computational algorithms and technologies to analyse complex healthcare data and enhance patient care and treatment decisions. AI in precision medicine also has the potential to expedite drug discovery and development, optimizing research efforts and bringing innovative therapies to market more efficiently.