Press release
Generative Artificial Intelligence (AI) In Pharmaceutical Market Set to Reach $7.16 Billion by 2029 with 31% Yearly Growth
Generative Artificial Intelligence AI In Pharmaceutical Market Share
The accelerating emphasis on personalized healthcare is anticipated to drive the expansion of generative artificial intelligence (AI) in the pharmaceutical sector. Personalized healthcare modifies medical treatment according to each patient's individual traits, necessities, and preferences, taking into account their genetic, environmental, and lifestyle factors. There's a rising focus on personalized medicine due to advancements in genetic studies and technology, which allows for the creation of more specific and successful treatments according to each patient's needs. The application of generative AI in pharmaceuticals to create customized drug treatments boosts treatment effectiveness and patient outcomes. For example, in February 2024, the Personalized Medicine Coalition, a non-profit entity based in the US, reported that the FDA gave approval to 16 new personalized treatments for patients suffering from rare illnesses in 2023, in contrast to a mere six the previous year. Consequently, the escalating emphasis on personalized medicine is propelling the growth of generative artificial intelligence (AI) in the pharmaceutical sector.
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What is the future CAGR of the generative artificial intelligence (ai) in pharmaceutical market, and how will it impact industry expansion?
The market size of generative artificial intelligence (AI) in the pharmaceutical sector has witnessed tremendous growth recently. The forecast suggests a rise from $1.85 billion in 2024 to $2.43 billion in 2025, indicating a compound annual growth rate (CAGR) of 31.3%. Factors contributing to this historic growth are advancements in computational power, the prevalence of big data in healthcare and pharmaceuticals, significant investment in research and development, improved data quality and integration, as well as the widespread use of cloud computing.
The market size for generative artificial intelligence (AI) in the pharmaceutical industry is predicted to experience remarkable growth in the upcoming years. The market is projected to expand to $7.16 billion by 2029, with a compound annual growth rate (CAGR) of 31.0%. Factors contributing to this growth during the predicted period include an emphasis on early detection of diseases, regulatory guidance and support, advanced computational abilities, rising drug development costs, and plentiful data accessibility. The forecast period will also witness notable trends such as the combination of blockchain and AI, improved data integration, enhanced disease detection, automation in drug repurposing, and real-time optimization of clinical trials.
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What are the most significant trends transforming the generative artificial intelligence (ai) in pharmaceutical market today?
In an effort to modernize drug discovery procedures, key players in the pharmaceutical market for generative artificial intelligence (AI) are introducing new products such as AI healthcare microservices. These modular, cloud-based solutions leverage AI technology to enhance various health-related tasks, including drug discovery, medical imaging, and diagnostics. For example, in March 2024, Nvidia Corporation, a technology company based in the US, unveiled their generative AI microservices. These services incorporate optimized NIM AI models and workflows and provide APIs for the development of cloud-based apps. They offer enhanced imaging, natural language processing, speech recognition, and digital biology functionalities. Significant tools like Parabricks, MONAI, NeMo, Riva, and Metropolis are included and made available as CUDA-X microservices, thereby improving processes in drug discovery and genomics.
Which key market segments comprise the generative artificial intelligence (ai) in pharmaceutical market and drive its revenue growth?
The generative artificial intelligence (AI) in pharmaceutical market covered in this report is segmented -
1) By Type: Small Molecule, Large Molecule
2) By Technology: Deep Learning, Natural Language Processing, Querying Method, Context-Aware Processing, Other Technologies
3) By Application: Clinical Trial Research, Drug Discovery, Research And Development, Other Applications
Subsegments:
1) By Small Molecule: Drug Discovery And Design, Lead Optimization For Small Molecule Compounds, Predictive Modeling For Pharmacokinetics And Toxicity, Virtual Screening Of Compound Libraries, Personalized Medicine Approaches For Small Molecule Therapies
2) By Large Molecule: Biologics Discovery And Development, Monoclonal Antibody Design, Protein Engineering And Optimization, Vaccine Development And Optimization, Predictive Models For Biopharmaceutical Efficacy And Safety.
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What regions are at the forefront of generative artificial intelligence (ai) in pharmaceutical market expansion?
North America was the largest region in the generative artificial intelligence (AI) in the pharmaceutical market in 2024. The regions covered in the generative artificial intelligence (AI) in pharmaceutical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the generative artificial intelligence (ai) in pharmaceutical market?
Major companies operating in the generative artificial intelligence (AI) in pharmaceutical market are Pfizer Inc., Johnson & Johnson, Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, Novartis AG, GlaxoSmithKline plc, Fujitsu Limited, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Gilead Sciences Inc., NVIDIA Corporation, Conduent Incorporated, XtalPi Inc., Insilico Medicine Inc., Numerate Inc., Atomwise Inc., BenevolentAI Limited
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What Is Covered In The Generative Artificial Intelligence (AI) In Pharmaceutical Global Market Report?
•Market Size Forecast: Examine the generative artificial intelligence (ai) in pharmaceutical market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the generative artificial intelligence (ai) in pharmaceutical market for a structured understanding.
•Key Players Overview: Analyze major players in the generative artificial intelligence (ai) in pharmaceutical market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the generative artificial intelligence (ai) in pharmaceutical market.
•Segment Contributions: Evaluate how different segments drive overall growth in the generative artificial intelligence (ai) in pharmaceutical market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the generative artificial intelligence (ai) in pharmaceutical market.
•Industry Challenges: Identify potential risks and obstacles affecting the generative artificial intelligence (ai) in pharmaceutical market.
•Competitive Landscape: Review strategic developments in the generative artificial intelligence (ai) in pharmaceutical market, including expansions, agreements, and new product launches.
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