Global AI In Pharma Market Trends And Strategies Of Major Players In The AI In Pharma Market 2021-2030
23 Feb, 2021
The artificial intelligence (AI) in pharma market consists of sales of AI in the pharma and related services that use an automated algorithm to perform tasks that traditionally rely on human intelligence. It can be useful in handling data and presenting results that encourage better decision-making and save human efforts, cost, and time. The market consists of revenue generated by AI companies, which are applying in the pharmaceutical industry. Only goods and services traded between entities or sold to end consumers are included.
Global AI In Pharma Market Size And Drivers:
The global AI in pharma market is expected to grow from $0.91 billion in 2020 to $1.27 billion in 2021 at a compound annual growth rate (CAGR) of 39%. The market is expected to reach $5.94 billion in 2025 at a CAGR of 47%.
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Trends In The Global AI In Pharma Market
The growing adoption of artificial intelligence (AI) for clinical trials research is driving its demand for AI in the pharmaceutical market. To bring a new drug to the market takes on an average 10–15 years approximately and half of this time is consumed during the clinical trial phases of the drug development cycle. Hence, using AI models and analytics tools can accelerate the clinical trial phases, perception of diseases, identify suitable cases and key investigators to inform site selection, and support novel clinical study designs.
Global AI In Pharma Market Segments:
The global artificial intelligence in pharma market is further segmented based on technology, drug type, application and geography.
By Technology:Context-Aware Processing, Natural Language Processing, Querying Method, Deep Learning.
By Drug Type:Small Molecule, Large Molecules.
By Application:Diagnosis, Clinical Trial Research, Drug Discovery, Research and Development, Epidemic Prediction.
By Geography:The global artificial intelligence (AI) in pharma market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global AI in pharma market.
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AI In Pharma Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides artificial intelligence (AI) in pharma market overviews, analyzes and forecasts market size and growth for the global artificial intelligence (AI) in pharma market, artificial intelligence (AI) in pharma market share, artificial intelligence (AI) in pharma market players, artificial intelligence (AI) in pharma market segments and geographies, artificial intelligence (AI) in pharma market’s leading competitors’ revenues, profiles and market shares. The artificial intelligence (AI) in pharma market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.