Global AI In Pharma Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions

17 Mar, 2023

The global AI in pharma market size grew from $1.24 billion in 2022 to $1.64 billion in 2023 at a compound annual growth rate (CAGR) of 32.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The AI in pharma market size is expected to grow to $4.61 billion in 2027 at a CAGR of 29.4%.

Global AI In Pharma Market Key Driver

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.

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Global AI In Pharma Market Segments

The global AI in pharma market is segmented:
• 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 regions covered in the AI in pharma global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global AI in pharma market.

Major AI In Pharma Industry Players

Novartis, IBM Watson, Microsoft Corporation, Merck, GNS Healthcare., Google, AstraZeneca, Atomwise

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AI In Pharma Market Overview

AI in pharma refers to the use of automated algorithms to jobs that normally need human intelligence. Large datasets including disease patterns can be successfully identified by AI solutions in pharma, and they can also assist in understanding which medication formulations would be most effective for treating certain ailments.

AI In Pharma Global Market Report 2023 provides data on the global AI in pharma market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The AI in pharma market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.