Market Snapshot:
In the pharmaceutical sector, artificial intelligence (AI) refers to a system of interconnected and automated technologies that can function independently with little or no human interaction. AI is a new technology that is being used in the pharmaceutical industry in a variety of ways, from drug development to diagnostics and even patient care. By enhancing candidate screening processes for clinical trials, AI will also affect the future of pharmaceuticals. AI can help ensure trial adoption by instantly evaluating patients and determining the best prospects for a given trial.
Highlights from AI for Pharma and Biotech Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Players profiled in the report are CureMetrix (United States), PFIZER (United States), Abbott (United States), JANSSEN PHARMACEUTICALS (Belgium), SANOFI (France), NOVARTIS (Switzerland), VoxelCloud (United States), BAYER (Germany), Insilico Medicine (Hong Kong), Oncora Medical (United States) and Atomwise (United States). Additionally, other players that are part of this comprehensive study are Aria Pharmaceuticals (United States), Berg Health (United States), CloudMedX (United States) and Deep Genomics (Canada).
Geographic Breakdown and Segment Analysis
The Global AI for Pharma and Biotech market presents a comprehensive analysis of the AI for Pharma and Biotech market by product type (Deep Learning, Big Data and Image Detection), by end-user/application (Hospital, Clinic, Research Center, Academic & Government Institutes and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global AI for Pharma and Biotech industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the AI for Pharma and Biotech market
Analyst at AMA have segmented the market study of Global AI for Pharma and Biotech market by Type, Application and Region.
Influencing Trend:
Growing Digitization In Pharma Industry
Market Growth Drivers:
Increasing Clinical Trials
Challenges:
Lack Of Skill Professionals and AI Technology Isn't Completely Error-Free
Restraints:
High Cost Associated To AI Technology
Opportunities:
Favorable Government Incentives and Development Of Health Care Infrastructure
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
AI for Pharma and Biotech Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others