The Global AI In Pharma Market Report by The Business Research Company covers AI in pharma market drivers and restraints, AI in pharma market size, major players, and the impact of COVID-19 on the AI in pharma market.

The artificial intelligence (AI) in pharma market consists of sales of AI in the pharma and related services that use an automated algorithm to perform tasks that traditionally rely on human intelligence. It can be useful in handling data and presenting results that encourage better decision-making and save human efforts, cost, and time. The market consists of revenue generated by artificial intelligence (AI) companies, which are applying in the pharmaceutical industry. Only goods and services traded between entities or sold to end consumers are included.

The growing adoption of artificial intelligence for clinical trials research is driving its demand for AI in the pharmaceutical market. The global AI in pharma market is expected to grow from $0.91 billion in 2020 to $1.27 billion in 2021 at a compound annual growth rate (CAGR) of 39%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5.94 billion in 2025 at a CAGR of 47%.

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Some ai in pharma market trends include introducing new AI tools that will be beneficial for the pharma companies and this is a key trend in AI in the pharma market. AI helps in quality control, predictive maintenance, waste reduction, design optimization and process automation. For instance, in September 2019, Novartis and Microsoft announced a multiyear alliance that will leverage data & Artificial Intelligence (AI) to transform how medicines are discovered, developed and commercialized. Further, Novartis also established an AI Innovation Lab to empower associates to use AI across their business.

Global AI in pharma market segments include:

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.

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Among these regions, North America is the largest region in the AI in pharma market.

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The AI In Pharma Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides ai in pharma market overviews, analyzes and forecasts market size, share, ai in pharma market players, ai in pharma market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.

The ai in pharma identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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Read AI In Pharma Global Market Report 2021: COVID-19 Growth And Change from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries

Market Players Covered: Novartis, IBM Watson, Microsoft Corporation, Merck, GNS Healthcare., Google, AstraZeneca, Atomwise Inc., Exscientia, Cyclica, NVIDIA Corporation, XtalPi Inc., BenevolentAI, Cloud Pharmaceuticals Inc, BERG LLC, Bayer, Pfizer, Recursion Pharmaceuticals Inc., Bristol-Myers Squibb

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.

Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The ai in pharma Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.

Opportunities For Companies In The ai in pharma Sector: The report reveals where the global industry will put on most $ sales up to 2023.

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