AI & Big Data in Vaccines Market Size (2023-2030)

The Global AI & Big Data in Vaccines Market was estimated to be worth USD 10.3 Billion in 2022 and is anticipated to reach a value of USD 117.81 Billion by 2030, growing at a fast CAGR of 35.61% during the forecast period 2023-2030.

AI & big data have revolutionized every industry, and the healthcare industry is no exception. They play a crucial role in the development, distribution, and monitoring of vaccines. Further, these tech innovations help in analyzing the patient’s data such as genetic information, past health status, and others. Moreover, with the help of AI, healthcare practitioners can perform clinical trials, which include the use of ML (machine learning) algorithms to identify patients’ genetic and demographic characteristics that allow them to perform faster analysis and make better treatment decisions. Furthermore, big data analytics has become popular in the vaccine industry as it provides valuable insights into the health infrastructure and disease mutation that can aid the government and health institutions to optimize vaccine development strategies. Additionally, they also help in vaccine distribution by optimizing the supply chain logistics, which includes storage and transportation of vaccines. Apart from this, the growing demand for healthcare analytics has increased the adoption of AI & big data analytics in healthcare that studies disease patterns and provides insights on vaccine efficiency.

Global AI & Big Data in Vaccines Market Drivers:

Growing demand for healthcare analytics has fuelled the market growth for AI & big data in vaccines.

Healthcare analytics has gained popularity in recent years due to increased efficiency and task automation. These use AI & big data technologies for data integration and analysis of healthcare data, which includes health records, laboratory results, patient data, and others. Further, these insights help healthcare professionals in analyzing vaccine development strategies. Furthermore, with the help of AI algorithms healthcare professionals can remotely monitor disease streams, track vaccine coverage, disease surveillance system, disease spread, and others. Apart from this, predictive modelling uses advanced algorithms that forecast future trends in diseases and analyze their patterns for vaccine development and optimize immunization strategies.

Increasing demand for efficient vaccine distribution drives the market for AI & big data in vaccines.

AI & big data has leveraged the healthcare industry by enabling efficient management of vaccine distribution. AI algorithms can analyze the population demographics, disease spread and prevalence in a region, and historic vaccination data of a region that can help in forecasting vaccine demand accurately in a region. Moreover, it also helps in production schedules and inventory management through advanced software integrations. Further, AI and big data technologies can help in supply chain optimization by analyzing the transportation data, which includes traffic patterns and delivery routes that further help in the effective delivery of vaccines without spoilage and wastage. Furthermore, with the help of IoT sensors linked with AI and big data software, healthcare professionals can monitor vaccine temperature and ensure effective vaccine control and storage. Apart from this, AI and big data can help healthcare institutions in analyzing populations with high-disease risk and distributing vaccines on time.

Global AI & Big Data in Vaccines Market Challenges:

Data privacy is one of the biggest challenges for AI & big data in the vaccines market. Since all the vaccination data is stored in devices using AI algorithms, it raises concerns about data privacy and security. They are exposed to privacy and data leak that can be misused by hackers.

Further, the expensive cost of software upgradation can decline the market growth of AI & big data in vaccines by hospitals and healthcare centres with limited funds, especially, in remote regions.

Global AI & Big Data in Vaccines Market Opportunities:

The Global AI & Big Data in Vaccines Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, product launches and agreements during the forecasted period. Furthermore, advancements in healthcare analytics and increasing demand for task automation by healthcare professionals are predicted to develop the market for AI & Big Data in Vaccines and enhance its future growth opportunities.

COVID-19 Impact on the Global AI & Big Data in Vaccines Market:

The pandemic had a positive impact on AI & big data in the vaccines market. Due to the increased focus on combating the virus mutation and the demand for the treatment of patients, there was an increased demand for AI & big data solutions in the healthcare sector. These solutions enabled doctors to analyze the effect of the vaccine on the patient’s body and optimize further treatment strategies. Moreover, healthcare professionals used advanced AI algorithms to understand the virus outbreak and its patterns which helped them to develop vaccines to mitigate the virus impact.

AI & BIG DATA IN VACCINES MARKET REPORT COVERAGE:

Global AI & Big Data in Vaccines Market Segmentation: By Deployment Mode

• On-Premise

• Cloud

• Hybrid

Based on market segmentation by deployment mode, the cloud segment occupies the highest share of the market. It involves hosting AI and big data on remote servers that provide remote monitoring and management of vaccination data. Further, this deployment mode does not require investment in hardware and maintenance, thus ensuring cost-effective solutions. Furthermore, it offers high scalability and agility that helps healthcare centres to manage large volumes of data related to vaccines effectively. The on-premise segment occupies a significant share of the market. This requires healthcare organizations to deploy AI & big data infrastructure in data centres. It provides organizations with full control over data infrastructure and security. The hybrid segment is the fastest growing segment during the forecast period as it offers both on-premise and cloud deployment solutions for AI and big data and thus eliminates the concern of data or privacy via cloud platform by allowing storing of sensitive health-related data on on-premises.

Global AI & Big Data in Vaccines Market Segmentation: By End-User

• Pharmaceuticals

• Government Agencies

• Healthcare Institutions

• Research Institutions

• Others

Based on market segmentation by end-user, healthcare institutions occupy the highest share of the market. These include hospitals, clinics, and vaccination centres that use AI & big data solutions for effective tracking of vaccine coverage and enhanced vaccine delivery. These solutions enable healthcare professionals to monitor patients’ health and data, detect vaccine effects, and patient engagement. The pharmaceuticals segment occupies a significant market share in the market. Pharmaceuticals utilize AI & big data technologies for optimizing clinical trials and analysing real-world data for enhanced vaccine manufacturing and delivering processes. The research institutions segment is the fastest-growing segment during the forecast period. AI & big data play a crucial role in analyzing large demographic and genetic data that can help researchers in formulating decisions for vaccine development. Further, it also helps researchers to understand disease out-break patterns and devise vaccine development strategies to eliminate the disease impact

Global AI & Big Data in Vaccines Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Based on market segmentation by region, North America occupies the highest share of the market. Technological advancements such as the advanced use of advanced predictive modelling tools and analyzing software and the presence of big tech companies have boosted the demand for AI & big data in vaccines in the region. Furthermore, continuous efforts from bio-technologists and researchers in vaccine development have increased the usage of AI algorithms in the region. Moreover, the COVID-19 pandemic boosted the usage of these solutions as it helped to monitor and optimize vaccine distribution and inventory management in healthcare centres. For example, Pfizer, a leading biopharmaceutical company, used AI solutions during the pandemic to leverage vaccine production and vaccine supply chain management. Asia-Pacific region is the fastest growing region during the forecast period. Constant research and development efforts by institutions in developing digital health infrastructure have boosted the demand for AI & big data in vaccines in the region.

Global AI & Big Data in Vaccines Market Key Players:

1. IBM Watson Health

2. Google Health

3. Microsoft

4. Oncora Medical

5. Caption Health

6. Butterfly Network

7. Corti

8. Babylon Health