Global AI In Pharma Market Size, Forecasts, And Opportunities

December 27, 2021 by The Business Research Company

Learn about the global AI in pharma market through The Business Research Company, which provides information on AI in pharma market size, AI in pharma market drivers and restraints, AI in pharma market players, the COVID-19 impact on the AI in pharma market, and more.

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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%.

The growing adoption of artificial intelligence (AI) for clinical trials research is expected to drive innovation in AI in pharma manufacturing, thus driving the market during the forecast period.

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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.

Global AI In Pharma Market Segments Include:

By Technology: Context-Aware Processing, Natural Language Processing, Querying Method, Deep Learning

By Drug Type: Small Molecule, Large Molecules

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 was the largest region in the AI in pharma market in 2020.

Companies operating in the AI for the pharma market are 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.

TBRC’s AI in pharma market report covers:

Major Market Players: 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)

The AI In Pharma Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides AI in pharma market overviews, analyses and forecasts market size, share, AI in pharma market players, AI in pharma market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s AI in pharma market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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