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AI In Pharma Global Market Worth $4.61 Billion By 2027 | Key Players: Novartis, IBM Watson, Microsoft Corporation, Merck, GNS Healthcare.
AI In Pharma Market
The Business Research Company's AI In Pharma Global Market Report 2023 identifies 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.
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%.
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Major players in the AI in pharma market are Novartis, IBM Watson, Microsoft Corporation, Merck, GNS Healthcare., Google, AstraZeneca, Atomwise, Inc., Exscientia, and Cyclica.
Companies operating in the AI for the pharma market are introducing new AI tools that will be beneficial for the pharma companies and this is a key trend in AI in the pharma market. AI helps in quality control, predictive maintenance, waste reduction, design optimization, and process automation.
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The 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: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the AI In Pharma market.
The Business Research Company's "Global AI In Pharma Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The AI In Pharma Market Include:
1. Executive Summary
2. AI In Pharma Market Characteristics
3. AI In Pharma Market Trends And Strategies
4. AI In Pharma Market - Macro Economic Scenario
5. AI In Pharma Market Size And Growth
.....
26. Africa AI In Pharma Market
27. AI In Pharma Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The AI In Pharma Market
29. AI In Pharma Market Future Outlook and Potential Analysis
30. Appendix
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