Global AI in Pharmaceutical Market Projected To Reach USD 8150 Million by 2026

23-Mar-2021 | Facts and Factors

As per the report published by Facts and Factors, the global AI for Pharmaceutical market was valued at approximately USD 550 Million in 2019 and is expected to generate revenue of around USD 8150 Million by end of 2026, growing at a CAGR of around 47% between 2020 and 2026.

AI and machine learning have encompassed all the prominent sectors of the industries. AI refers to the system of technology in which intelligent sensors collect a plethora of information and analyzes this data and activates a response in the shortest possible time. AI in pharmaceutical plays an important role in predicting the success rate of experiment based on various biological and non-biological factors

Request Sample Request Customization Buy Now

Some main participants of the AI for Pharmaceutical market are Pfizer, Janssen Pharmaceutical, Sanofi, Novartis, Bayer, Takeda, Roche, Merck, Glaxo SmithKline, Eli Lilly, Astra Zeneca, and Allergan among others.

Reduction in the cost and time of drug discovery is the major factor responsible for the growth of AI in Pharmaceutical

AI has the potential to accelerate the new discovery and also increase productivity reducing the cost of operation and time to market. It assists in screening the drug compound and based on that predicting the success rate of the experiment thus reducing the chances of errors and increasing the success rate of research and development activities. The plethora of data is analyzed and acted in fractions of seconds this increases the efficiency of the enterprise. One of the major time-consuming processes in drug discovery in clinical trials. Recruitment of patients for clinical trials is a time-consuming task, AI-assisted technology can scrutinize patients in nanoseconds and identify the right candidates based on disease history and other additional attributes which effectively shortens the process of introducing drugs in the market.

North America region is projected to Dominate Global AI in Pharmaceutical Market Growth

Geographically, North America is dominating the global market for AI for pharmaceutical. The regional market share is mainly driven by U.S. and Canada; massive investments in AI technologies and a large number of cross-industry strategic collaborations majorly fuel the growth of the AI for pharmaceutical market. Additionally, the presence of major market contributors such as Google, IBM, NVIDIA, Microsoft, and Intel, are headquartered in this region which is aiding the market to grow. However, Asia-Pacific is expected to register the highest CAGR growth over the projected period, owing to the rise in adoption of advanced AI technologies and the focus of major players on expanding their market presence in emerging countries of Asia. Thereby, certain factors are responsible for the large share and high growth rate of this market.

.Browse the full “AI for Pharmaceutical Market By Offering (Software, Services), By Technology (Context-Aware Processing, Natural Language Processing, Machine learning, and Deep Learning), and By Application (Drug Discovery, Research & Development, Diagnosis, Epidemic Prediction, Disease Prevention, Remote Monitoring, Manufacturing, and Marketing): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/ai-for-pharmaceutical-market

Report Scope
 

Report Attribute

Details

Market Size in 2019

USD 550 Million

Projected Market Size in 2026

USD 8150 Million

CAGR Growth Rate

47% CAGR

Base Year

2020

Forecast Years

2020-2026

Key Market Players

Pfizer, Janssen Pharmaceutical, Sanofi, Novartis, Bayer, Takeda, Roche, Merck, Glaxo SmithKline, Eli Lilly, Astra Zeneca, and Allergan among others.

Key Segment

By Technology, By Offering, By Application, By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

The global AI in Pharmaceutical market is segmented as follows:

By Technology

  • Context-Aware Processing
  • Natural Language Processing
  • Machine learning
  • Deep Learning

By Offering:

  • Software
  •  Service

By Application

  • Drug Discovery
  • Research & Development
  • Diagnosis
  • Epidemic Prediction
  • Disease Prevention
  • Remote Monitoring
  • Manufacturing
  •  Marketing

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Gaming Market Report 2024 – 2032

[218+ Pages Report] According to Facts Factors,the global gaming market size valued at USD 111.48 billion in 2023 and is predicted to surpass USD 289.83 billion by the end of 2032. The gaming industry is expected to grow by a CAGR of 11.20% between 2024 and 2032. Gaming Market: Overview Gaming refe

Published Date : 08-Oct-2024 | | Category : Technology & Media | Pages : 218 | Format : Read more

Inquiry for Buying Request Sample
report img

Subscription E-Commerce Platform Market Report 2024 – 2032

[219+ Pages Report] According to Facts Factors, the global subscription e-commerce platform market size valued at USD 104.15 billion in 2023 and is predicted to surpass USD 378.03 billion by the end of 2032. The subscription e-commerce platform industry is expected to grow by a CAGR of 15.40% betwe

Published Date : 08-Oct-2024 | | Category : Technology & Media | Pages : 219 | Format : Read more

Inquiry for Buying Request Sample
report img

Open Banking Market Report 2024 – 2032

[214+ Pages Report] According to Facts Factors, the global open banking market size was valued at USD 26.05 billion in 2023 and is predicted to surpass USD 233.60 billion by the end of 2032. The open banking industry is expected to grow by a CAGR of 27.60% between 2024 and 2032. Open Banking Market

Published Date : 04-Oct-2024 | | Category : Public Sector | Pages : 214 | Format : Read more

Inquiry for Buying Request Sample
report img

Data Protection as a Service Market Report 2024 – 2032

[215+ Pages Report] According to Facts Factors, The global data protection as a service market size in terms of market volume was valued at USD 19.81 billion in 2023 and is predicted to surpass USD 106.89 billion by the end of 2032. The data protection as a service industry is expected to grow by a

Published Date : 04-Oct-2024 | | Category : Technology & Media | Pages : 215 | Format : Read more

Inquiry for Buying Request Sample
report img

Generative AI in Automation Market Report 2024 – 2032

[213+ Pages Report] According to Facts Factors, the global generative AI in automation market size in terms of market volume was valued at USD 7.07 billion in 2023 and is predicted to surpass USD 124.22 billion by the end of 2032. The generative AI in automation industry is expected to grow by a CA

Published Date : 03-Oct-2024 | | Category : Technology & Media | Pages : 213 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration