Artificial intelligence (AI) in Pharmaceutical Market: Global Market Size, Industry Trends, Leading Players, Market Share and Forecast 2019-2025

It is not the strongest of the industry or the most intelligent, however the one most adaptable to change that always survives. Pharmaceutical industry, being one of them is using AI (Artificial Intelligence) to alter the rate of its exiting growth. AI is being used in the other parts of healthcare too, such as healthcare practitioner, patient, regulatory body, or managed care organization’s needs and many more. However, the two main focused areas for AI in healthcare include patient care (mainly diagnosis and treatment plan recommendation) and pharmaceutical sector (which specifically focuses on drug discovery). In last few years, the process of how scientist develop new drugs, find cure for disease and many more have changed a lot with the AI now being in picture.

Browse the full report of “Artificial intelligence (AI) in Pharmaceutical Market by Deployment Type (Cloud, On-Premises), by Application (Drug Discovery, Drug Development, Drug Commercialization) – Global Trends, Size, Share, Growth, Industry Analysis and Forecast, 2019-2025” at https://www.omrglobal.com/industry-reports/ai-in-pharmaceutical-market/

The most imperative field of pharmaceutical industry is new drug development. According to a study only 13.8% of the drugs pass the clinical trials successfully and the company invests around $160 million to $2 billion to complete the entire clinical trial process. With the incorporation of AI in pharmaceutical for drug development, this cost can be reduced, and drug discovery process can be made more cost-effective. Additionally, AI is suitable for repetitive task which can solve another pharmaceutical problem of analyzing big data. With the employment of AI in pharmaceutical industry, pool of data can be accessed easily to extract the useful information. Government is also framing laws to support the new trend of AI in pharmaceutical; for instance, in 2016, the state council issued the guideline to promote the development of AI in pharmaceutical sector in China.

By seeing the promising future of AI in healthcare, many biopharma companies and startups in collaboration with the AI tech companies are driving towards AI technology. Genentech (working on cancer drug target) , Novartis (trying to improve and speed up the treatment process), Pfizer (accelerating drug discovery in immune-oncology), Astellas (working on repurposing existing drug) and Sunovion (researching new drugs for psychiatric disorders) are some of the players of pharmaceutical industry working with AI technology for its advancement in healthcare.

Current Market Trends Covered in the market report:

• Forth industrial revolution changing the pharmaceutical industry
• Proliferation in the funding for the R&D and start-ups
• Major acquisitions taking place between the pharma companies, start-ups and tech companies
• AI solves the big data complexity in Pharma industry

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The Report AI in Pharmaceutical Market – Segmentation

By Deployment Type

• Cloud
• On-Premises

By Application

• Drug Discovery
• Drug Development
• Drug Commercialization

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The Report AI in Pharmaceutical Market – Segment by Region

North America           

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

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Source: Artificial intelligence (AI) in Pharmaceutical Market