Dublin, Nov. 02, 2021 (GLOBE NEWSWIRE) -- The market is expected to grow by $9.14 billion according to the "AI In Pharma Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change" report that has been added to ResearchAndMarkets.com's offering.
The global AI in pharma market reached a value of nearly $699.3 million in 2020, having increased at a compound annual growth rate (CAGR) of 31.8 % since 2015. The market is expected to grow from $699.3 million in 2020 to $2,895.5 million in 2025 at a rate of 32.9%. The market is then expected to grow at a CAGR of 25.9% from 2025 and reach $9,142.7 million in 2030.
Artificial Intelligence (AI) in pharma refers to the system of interconnected and automated technologies in the pharmaceuticals and biotechnology industry that can function autonomously, with little or no human intervention. It is helping pharmaceutical companies to improve clinical trials, enable predictive power in the R&D process and can elevate pharma manufacturing.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global AI in pharma market as it emerges from the COVID-19 shut down.
Growth in the historic period in the AI in pharma market resulted from increased healthcare expenditure, strong economic growth in emerging markets, and government initiatives in developing economies. The market was restrained skilled workers, low healthcare access, and challenges due to regulatory changes.
Going forward growing adoption of artificial intelligence (AI) for clinical trials, increasing use of artificial intelligence (AI) for tracking medication adherence, and COVID-19 will drive the growth in the AI in pharma market. Factors that could hinder the growth of the market in the future include intense competition and incompatible legacy health IT infrastructure.
The AI in pharma market is segmented by technology into context-aware processing, natural language processing, querying method, and deep learning. The deep learning was the largest segment of the AI in pharma market segmented by technology, accounting for 33.2% of the total in 2020. Going forward, the querying method segment is expected to be the fastest growing segment in the AI in pharma market segmented by technology, at a CAGR of 32.74% during 2020-2025.
The AI in pharma market is also segmented by drug type small molecule and large molecules. The small molecules market was the largest segment of the AI in pharma market segmented by drug type, accounting for 65.4% of the total in 2020. Going forward, large molecules segment is expected to be the fastest growing segment in the AI in pharma market segmented by drug type, at a CAGR of 36.3% during 2020-2025.
The AI in pharma market is also segmented by area of application into clinical trial research, drug discovery, research and development, and others. The drug discovery was the largest segment of the AI in pharma market segmented by application, accounting for 80.4% of the total in 2020. Going forward, clinical trial research segment is expected to be the fastest growing segment in the AI in pharma market segmented by application, at a CAGR of 37.8% during 2020-2025.
North America was the largest region in the AI in pharma market, accounting for 43.2% of the total in 2020. It was followed by the Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the AI in pharma market will be South America and Asia Pacific where growth will be at CAGRs of 42.7% and 38.6% respectively during 2020-2025. These will be followed by Africa and Western Europe, where the markets are expected to register CAGRs of 35.77% and 34.72% respectively during 2020-2025.
The COVID-19 pandemic has accelerated the digital transformation across industries. With the emergence of big datasets, combined with innovation in robotics, sensors, computational power there is an increasing challenge of identifying hidden patterns and taking decisions to counter the post-pandemic effects, which increases demand for AI in healthcare. The use of AI in pharma allows for higher productivity, improved efficiency, and faster production of life-saving drugs.
The global AI in pharma market is highly concentrated, with a small number of large players dominating the market. The top ten competitors in the market made up to 69.42% of the total market in 2020. Major players in the market include IBM Watson Health, Alphabet Inc., Concreto HealthAI, Nvidia Corporation, and PathAI.
The top opportunities in the AI in pharma market segmented by technology will arise in the deep learning segment, which will gain $721.5 million of global annual sales by 2025. The top opportunities in the AI in pharma market segmented by drug type will arise in small molecules segment, which will gain $1,298.9 million of global annual sales by 2025.
The top opportunities in the AI in pharma market segmented by application will arise in drug discovery segment, which will gain $1,710.0 million of global annual sales by 2025. The AI in pharma market size will gain the most in the USA at $665.1 million.
Key Topics Covered:
1. AI In Pharma Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
7. AI In Pharma Market Characteristics
7.1. Market Definition
7.2. Segmentation By Technology
7.2.1. Context-Aware Processing
7.2.2. Natural Language Processing
7.2.3. Querying Method
7.2.4. Deep Learning
7.3. Market Segmentation By Drug Type
7.3.1. Small Molecules
7.3.2. Large Molecules
7.4. Segmentation By Application
7.4.1. Clinical Trial Research
7.4.2. Drug Discovery
7.4.3. Research And Development
7.4.4. Others
8. AI In Pharma Market Trends And Strategies
8.1. Use Of AI For Clinical Trials
8.2. AI For Rare Diseases Treatment
8.3. AI For Drug Adherence
8.4. Investments in AI Driven Biotech Firms
8.5. Rise In Merger And Acquisition Activity
8.6. Introduction of New Artificial Intelligence (AI) Tools
8.7. Emerging Role of CROs in AI Ecosystems
8.8. Introduction of AI Innovation Labs
9. Impact Of COVID-19 On The AI In Pharma Market
9.1. Introduction
9.2. Use Of AI For Vaccine Development
9.3. Clinical Trials
9.4. Future Outlook
10. Global AI In Pharma Market Size And Growth
10.1. Market Size
10.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
10.2.1. Drivers Of The Market 2015 - 2020
10.2.2. Restraints On The Market 2015 - 2020
10.3. Forecast Market Growth, 2020 - 2025, 2030F, Value ($ Million)
10.3.1. Drivers Of The Market 2020 - 2025
10.3.2. Restraints On The Market 2020 - 2025
11. Global AI In Pharma Market Segmentation
11.1. Global AI In Pharma Market, Segmentation By Technology, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.2. Global AI In Pharma Market, Segmentation By Drug Type, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.3. Global AI In Pharma Market, Segmentation By Application, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
Companies Mentioned
- IBM Watson Health
- Alphabet Inc.
- Concreto HealthAI
- Nvidia Corporation
- PathAI
For more information about this report visit https://www.researchandmarkets.com/r/hx8q42
