Global AI in Pharmaceutical Market Overview:
The pharmaceutical industry is considered in one of the major industries which are intended for the use of artificial intelligence, the major reason behind the adoption of AI in this industry is its wide range of applications. In this sector, machine learning helps in enhance marketing, manufacturing, and drug trials. And artificial intelligence operates as a machine learning system, continuously responding and analyzing data, that allows researchers to collect information effectively.
Growth Drivers
- Increasing Number of Cross-Industry Partnerships and Partnerships
- Rising Concern Regarding Control Drug Discovery & Development Costs and Reduce Time
- Increasing Number of Patent Expiry
Opportunities
- Development in Biotechnology Industry
- High Growth in the Healthcare Industry
Challenges
- Restricted Availability of Technology Approvals
Competitive Landscape:
The market is fragmented by the leading players across the globe, those are focusing on production technologies, and highly investing in research on development for the improvement of efficiency and service life. With the growing opportunities is captured by tracking the ongoing process improvement and financial flexibility to invest in market growth strategies.
Some of the key players profiled in the report are AbbVie (United States), Almirall (Spain), Amgen (United States), Astellas (Japan), AstraZeneca (United Kingdom), BASF (Germany), Bayer (Germany), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (BMS) (United States), CJ Healthcare (South Korea) and Celgene (United States). Additionally, following companies can also be profiled that are part of our coverage like Daewoong Pharmaceutical (South Korea), Eisai (Japan) and Eli Lilly (United States). Analyst at AMA Research see United States Players to retain maximum share of Global AI in Pharmaceutical market by 2027. Considering Market by End Users, the sub-segment i.e. Pharmaceutical & Biotechnology will boost the AI in Pharmaceutical market. Considering Market by Technology, the sub-segment i.e. Deep Learning will boost the AI in Pharmaceutical market. Considering Market by Offerings, the sub-segment i.e. Software will boost the AI in Pharmaceutical market.
What Can be Explored with the AI in Pharmaceutical Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global AI in Pharmaceutical Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in AI in Pharmaceutical
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global AI in Pharmaceutical market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in AI in Pharmaceutical market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, AI in Pharmaceutical Service Providers, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.