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Artificial intelligence (AI) in Pharmaceutical Market: Industry Growth, Size, Share and Forecast 2019-2025
Browse the full report of “Artificial intelligence (AI) in Pharmaceutical Market by Deployment Type (Cloud, On-Premises), by Application (Drug Discovery, Drug Development, Drug Commercialization) – Global Trends, Size, Share, Growth, Industry Analysis and Forecast, 2019-2025” at https://www.omrglobal.com/industry-reports/ai-in-pharmaceutical-market/
The most imperative field of pharmaceutical industry is new drug development. According to a study only 13.8% of the drugs pass the clinical trials successfully and the company invests around $160 million to $2 billion to complete the entire clinical trial process. With the incorporation of AI in pharmaceutical for drug development, this cost can be reduced, and drug discovery process can be made more cost-effective. Additionally, AI is suitable for repetitive task which can solve another pharmaceutical problem of analyzing big data. With the employment of AI in pharmaceutical industry, pool of data can be accessed easily to extract the useful information. Government is also framing laws to support the new trend of AI in pharmaceutical; for instance, in 2016, the state council issued the guideline to promote the development of AI in pharmaceutical sector in China.
By seeing the promising future of AI in healthcare, many biopharma companies and startups in collaboration with the AI tech companies are driving towards AI technology. Genentech (working on cancer drug target) , Novartis (trying to improve and speed up the treatment process), Pfizer (accelerating drug discovery in immune-oncology), Astellas (working on repurposing existing drug) and Sunovion (researching new drugs for psychiatric disorders) are some of the players of pharmaceutical industry working with AI technology for its advancement in healthcare.
Current Market Trends Covered in the market report:
• Forth industrial revolution changing the pharmaceutical industry
• Proliferation in the funding for the R&D and start-ups
• Major acquisitions taking place between the pharma companies, start-ups and tech companies
• AI solves the big data complexity in Pharma industry
Visit here to know more about AI in Pharmaceutical Market study https://www.omrglobal.com/industry-reports/ai-in-pharmaceutical-market/
The Report AI in Pharmaceutical Market – Segmentation
By Deployment Type
• Cloud
• On-Premises
By Application
• Drug Discovery
• Drug Development
• Drug Commercialization
To know more information, please request a free report sample https://www.omrglobal.com/request-sample/ai-in-pharmaceutical-market
The Report AI in Pharmaceutical Market – Segment by Region
North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
• Middle East & Africa
• Latin America
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 7803040404
About Orion Market Research
OMR provide global and regional market reports of various domains such as healthcare, energy, IT, chemicals, and automobiles. OMR provide a 360-degree view of the market with parametric analysis, key market insights, key findings, statistical forecasts, competitive landscape, extensive segmentation, key trends, strategic recommendations and detailed company profiles.
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