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

Global Artificial Intelligence (AI) In Pharmaceutical Market, By Deployment Mode (Cloud and On-Premise), By Offering (Hardware, Software, Services), By Technology (Natural Language Processing, Context-Aware Processing, Deep Learning, Querying Method, Other), By Drug Type (Large Molecules and Small Molecules), By Application (Drug Discovery, Clinical Trial, Research & Development, Drug Manufacturing and Supply Chain, Others), By End User (Pharmaceutical & Biotechnology Companies, Hospitals and Diagnostic Centers, Academic & Research Institutes, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024
Code : CMI7209
Pages :172
Formats :
Excel and PDF
Industry : Pharmaceutical

Regional Analysis

Global Artificial Intelligence (AI) In Pharmaceutical Market Regional Insights

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North America dominates the the artificial intelligence (AI) in the pharmaceutical market with an estimated market share of 41.2% in 2024. The U.S. is home to many large pharmaceutical companies that have significantly invested in AI technologies. Companies view AI as critical for drug discovery, reducing costs and time to market. Large corporations like Pfizer, Johnson & Johnson, Merck and others have set up dedicated AI divisions and labs with a focus on automating drug discovery processes. Local startups in this field also receive strong funding support, allowing them to contribute innovative solutions. The region has a highly skilled workforce with expertise in domains like computer science, data science and healthcare. This talent pool helps address technical challenges and efficiently deploy AI-powered tools.

Asia Pacific has emerged as the fastest growing market for artificial intelligence (AI) in the pharmaceutical. Countries like China and India offer a low-cost base for global pharmaceutical companies to establish AI research centers. Both nations also have a burgeoning domestic market needing cost-effective drug development capabilities. China's government actively promotes this sector as part of its "Made in China 2025" campaign. Significant financial incentives are provided to attract foreign direct investment. Multiple Sino-American joint ventures have come up for applying deep learning to complex healthcare issues prevalent in Asia. In India, the government aims to increase generic drug manufacturing and digital healthcare through public-private partnerships applying AI.