Government Backing Fuels Growth Of AI In Pharma Market With Financial Programs And Research Initiatives: Key Factor Driving The Growth In The AI In Pharma Market

The AI In Pharma Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected AI In Pharma Market Size During the Forecast Period?
The market size of AI in pharmaceuticals sector has been on a swift upward trajectory in the past few years. It is projected to surge from $2.92 billion in 2024 to $3.8 billion by 2025, registering a Compound Annual Growth Rate (CAGR) of 30.1%. The phenomenal growth experienced during the historical period is linked to the growing acceptance of artificial intelligence for cost-effective drug discovery and an increase in the usage of AI in the radiology field.

The value of the AI in pharma market is predicted to undergo substantial amplification in the following years, escalating to an estimated $9.64 billion in 2029, with a compound annual growth rate (CAGR) of 26.2%. This expansion in the predictive interval is marked by the pharma industry's implementation of cloud-based applications and services, rising healthcare costs, and increasing government backing for AI advancement. The notable shifts in this projection period encompass the application of generative AI in pharmaceuticals, the use of AI in pinpointing molecular targets, the assimilation of AI in the drug screening process, progress in AI solutions for the pharmaceutical sector, mounting investments in creating novel product solutions, as well as strategic alliances and mutual collaborations among market contenders.

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What Are the High-Growth Segments in the AI In Pharma Market?
The AI in pharma market covered in this report is segmented -

1) By Technology: Context-Aware Processing, Natural Language Processing, Querying Method, Deep Learning
2) By Drug Type: Small Molecule, Large Molecules
3) By Application: Diagnosis, Clinical Trial Research, Drug Discovery, Research and Development, Epidemic Prediction

Subsegments:
1) By Context-Aware Processing: Real-Time Data Processing, Contextual Recommendation Systems, Adaptive Learning Systems
2) By Natural Language Processing (NLP): Text Analytics And Sentiment Analysis, Chatbots And Virtual Assistants, Document And Data Mining
3) By Querying Method: Structured Querying, Unstructured Querying, Semantic Search Technologies
4) By Deep Learning: Neural Networks For Drug Discovery, Image Recognition For Medical Imaging, Predictive Analytics Models

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What Key Drivers Are Expected to Influence Future AI In Pharma Market Growth?
The rise in government encouragement for AI evolution is predicted to drive the AI in pharma market's expansion. The ability of AI technologies to transform the pharmaceutical sector has been acknowledged by many governments, who are subsequently enacting policies and launching initiatives to jump-start their utilization. Several nations have created national AI strategies dedicated to healthcare and pharmaceutical applications, aiming to accelerate the growth and application of AI technology to enhance scientific progress and resolve national issues. Case in point, the Australian government, in April 2022, declared a funding scheme of AUD44 million ($29.61 million) dedicated to stimulating AI study within small and medium-sized businesses (SMEs). This push is a part of a wider strategy aimed at boosting AI uptake across Australia's national manufacturing priority areas and digital expansion sectors, including the pharma industry. The funding will go toward creating digital capability centers, functioning as hubs for AI exploration and evolution. These centers will equip SMEs with necessary resources, training, and aid in developing and deploying AI technologies. Consequently, escalating governmental aid is projected to propel the AI in pharma market's growth throughout the predicted period.

Which Companies Hold the Largest Share Across Different AI In Pharma Market Segments?
Major companies operating in the AI in pharma market include Concerto HealthAI, Alphabet Inc., OWKIN, Nvidia Corporation, PathAI, Insilico Medicine, Exscientia, Microsoft Corporation, XtalPi, Intel, Standigm, Takeda Pharmaceutical Company Ltd., Otsuka Pharmaceutical Co. Ltd., China National Pharmaceutical Group Co. Ltd. (Sinopharm), Jiangsu Hengrui Medicine Co. Ltd, Cipla Limited, Aurobindo Pharma Limited, Dr. Reddy's Laboratories Ltd., Sun Pharma, Alliance Pharm Pte Ltd., Shanghai Pharmaceuticals, DeepMind, GlaxoSmithKline, Sanofi, Bayer, Renalytix AI, Merck, AstraZeneca, Iktos, Benevolent AI, Novartis, Ardigen, Botkin, Webiomed, Care Mentor AI, Diagnocat, IBM Corporation, Atomwise Inc., Cloud Pharmaceuticals, Bioage, NuMedii, Envisagenics, Aria Pharmaceuticals, Verge Genomics, Berg LLC, Cyclica, IQVIA, Roche, Pfizer, PRA Health Science, Gesto, Intensicare, Epitrack, Deep Genomics Inc., Welltok Inc., Oncora Medical, Recursion Pharmaceuticals Inc., Nucleai, Pepticom, Rology, hearX Group, DilenyTech, iNNOHEALTH Technology Solutions

What Trends Are Driving Growth in The AI In Pharma Market?
Firms in the AI for pharma industry are advancing a notable trend by developing new AI technologies that could bring significant benefits to pharmaceutical companies. These AI innovations facilitate improved quality control, predictive maintenance, waste reduction, design streamlining, and process automation. A notable instance in August 2022, saw Sanford Health, a US-based non-profit healthcare provider, in collaboration with Sharp HealthCare, another US-based non-profit healthcare organization, partnering with Dandelion Health, an AI company in the healthcare sector. Together they launched an expansive data platform that enables health entities to utilize high-quality, patient data in a representative form for AI development in clinical settings. The Dandelion Platform is designed to provide health AI creators with secure, ethically compliant access to a variety of patient data like images, waveforms and organized health records; this is to facilitate the creation of tools and products that will provide aid to both patients and clinical practitioners.

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What Are the Emerging Geographies for The AI In Pharma Market Growth?
North America was the largest region in the AI in pharma market in 2024. The regions covered in the AI in pharma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI In Pharma Market?
2. What is the CAGR expected in the AI In Pharma Market?
3. What Are the Key Innovations Transforming the AI In Pharma Industry?
4. Which Region Is Leading the AI In Pharma Market?

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