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

Artificial intelligence (AI) has emerged as a transformative technology that is poised to revolutionize the pharmaceutical industry. By leveraging huge amounts of data and sophisticated algorithms, AI has the potential to help drug makers to accelerate drug discovery, streamline clinical trials and enable more precise diagnosis and treatment. AI augments the work of pharmaceutical scientists by swiftly analyzing huge datasets to identify relationships that may lead to new therapies. With AI, researchers can analyze genetic sequencing information or electronic health records at an unprecedented scale and speed. The technology helps discover new therapies and predict which existing drugs could be repurposed to treat other conditions. AI promises to augment human capabilities, make pharmaceutical R&D more efficient and bring innovative new medicines to patients faster.

Market Dynamics:

Global artificial intelligence (AI)  in pharmaceutical market growth is driven by rising need to control drug discovery and development costs, reduce the drug development cycle time and advance precision medicine. AI can accelerate drug discovery, reduce expensive late-stage clinical trial failures and help launch drugs faster. However, lack of interpretability of AI models and skepticism about integrating it into decision-making can hamper its adoption. Growing availability of pharma data sets and encouraging regulatory frameworks can offer significant growth opportunities. If addressed properly, interpretability issues and lack of expertise can be overcome to extract full potential from this transformative technology.

Key Features of the Study:

• This report provides in-depth analysis of the global artificial intelligence (AI) in pharmaceutical market, and provides market size (USD Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global artificial intelligence (AI) in pharmaceutical market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include IBM, Microsoft, AWS, Google, Anthropic, Berg Health and InSilico Medicine
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global artificial intelligence (AI) in pharmaceutical market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global artificial intelligence (AI) in pharmaceutical market

Detailed Segmentation-

• By Deployment Mode
  
  • Cloud 
  • 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
  • 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 Region           
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
• • NVIDIA Corporation
  • IBM Corporation
  • Exscientia
  • Insilico Medicine
  • Atomwise, Inc.
  • Cloud Pharmaceuticals, Inc.
  • Cyclica Inc.
  • Envisagenics, Inc.
  • Numerate, Inc.
  • Schrödinger, Inc.
  • Standigm
  • ai
  • BenevolentAI
  • Recursion Pharmaceuticals
  • Owkin, Inc.
  • XtalPi Inc.
  • Valo Health
  • Absci