GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN PHARMACEUTICAL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The lack of curated pharma data sets can hamper the artificial intelligence (AI) in the pharmaceutical market growth. Pharmaceutical companies collect vast amounts of data from various stages of drug discovery, clinical trials and post-marketing. However, most of this data resides in silos and is neither interoperable nor standardized. Curating this disorganized data into unified, well-structured formats specifically designed for machine learning applications is extremely challenging. Without comprehensive, high-quality labeled datasets, AI algorithms have limited training data to develop advanced models that can accelerate drug discovery and precision medicine efforts. AI has the power to shift through petabytes of unstructured data to reveal novel insights about diseases, drug targets and therapies. It can also glean subtle patterns that human analysts may miss. but the lack of interoperable, tagged datasets limits the ability of AI models to learn from real-world evidence at scale. As a result, promising AI applications like predictive toxicology, cancer subtyping and personalized treatment recommendations are difficult to implement at an industrial level. This challenge slows the integration of AI into mainstream drug development workstreams. AI-based approaches were only able to cut preclinical testing times by around 10% due to insufficient pharma data access for training. More comprehensive datasets sharing information from diverse sources could help algorithms achieve much larger efficiencies.

Market Opportunities: Adoption of artificial intelligence for target identification and validation

Adoption of artificial intelligence for target identification and validation presents a great opportunity in the global artificial intelligence in pharmaceutical market. AI has the potential to revolutionize drug discovery by helping pharmaceutical companies identify and validate new drug targets more efficiently. Target identification and validation is a crucial but lengthy process that often takes years using traditional research methods. AI technologies like machine learning can help analyze vast amounts of biological and chemical data to pinpoint potential drug targets and their properties much faster. This can significantly accelerate early drug discovery efforts and bring new therapies to patients more quickly. Several pharmaceutical companies have already started exploring how AI can transform target identification. For example, Bristol Myers Squibb partnered with Anthropic to apply self-supervised learning models to biological datasets to propose new targets for diseases like cancer. Many other big pharma companies like AstraZeneca, Pfizer and Janssen have also initiated collaborations applying machine learning to genome sequencing and protein structure data to generate novel target hypotheses. As the use of real-world health data increases, AI is also being used to discover associations and identify potential drug targets based on disease outcomes in patient datasets. Widespread adoption of AI for target identification has the potential to vastly improve drug discovery success rates in the coming years. According to a 2021 report by the United Nations Inter-Agency Task Force on Financing for Development, traditional drug discovery methods currently have a low success rate of around 5%, resulting in high costs for pharmaceutical companies.