This study aims to analyze various aspects of the global AI in pharmaceutical market. The report suggests that AI can accurately recognize disease patterns, leading to the identification of better drug compositions for the treatment of various diseases.
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By adopting AI, pharmaceutical companies can reduce research and development costs, prevent human errors, and expedite the research timeline, resulting in the development of affordable, effective, and profitable drugs. These factors are expected to contribute to the growth of the AI in pharmaceutical market globally.
Key findings of the report include:
- The global AI in pharmaceutical market size is expected to witness promising growth, increasing from around US$900 million in 2021.
- The use of AI in drug discovery and development will contribute to market growth.
- The application of new technologies in pharmaceutical marketing and predictive forecasting will have a positive impact on the AI in pharmaceutical market.
- AI’s role in delivering personalized treatment will drive market growth.
The report identifies two key growth drivers:
- Dramatically Rising Adoption of AI in Drug Discovery and Development: AI technologies, such as machine learning and deep learning, have transformed the drug discovery process. AI can accurately identify disease patterns and help pharmaceutical companies develop more affordable and effective drugs by reducing costs and accelerating research.
- Boom Around Advanced Technology-enabled Personalized Treatment: AI enables physicians to provide improved personalized treatments by leveraging real-time patient data. AI-powered solutions can analyze large volumes of patient data, enhance diagnostic capabilities, and facilitate predictive forecasting and clinical trial improvement.
The report also provides an overview of key segments:
- Deep Learning Technology: Deep learning technology is expected to hold a major share in the AI in pharmaceutical market. It enables accurate identification of critical health conditions, predictive forecasting, and real-time patient condition analysis.
In terms of regional insights, North America is expected to dominate the AI in pharmaceutical market due to its technological advancements and application of AI in various sectors. The region benefits from collaborations and partnerships between industry leaders, which drive innovation and growth. Asia Pacific is also projected to present opportunities for market growth, fueled by contract research organizations, contract manufacturing organizations, and the rapid growth of the pharmaceutical and information technology sectors.
The competitive scenario in the AI in pharmaceutical market includes key players such as Deep Genomics, Alphabet Inc., Euretos, Insilico Medicine, Exscientia, Atomwise Inc., Cloud Pharmaceuticals Inc., BioSymetrics Inc., and Deargen Inc.
The report highlights key developments, including partnerships, joint ventures, and the development of AI-driven platforms by major players to enhance drug discovery and development processes.
Overall, the report suggests a positive outlook for the growth of the AI in pharmaceutical market, driven by the adoption of AI in drug discovery, development, and personalized treatment.
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