The Global Artificial Intelligence (AI) in Pharmaceutical Market is driven by increasing demand for personalized medicine
The Global Artificial Intelligence (AI) in Pharmaceutical Market includes technologies that use AI and machine learning for drug discovery and various clinical processes. AI tools help analyze large amounts of data to discover new biological targets, design protein structures, and identify potentially unsafe drug reactions and side effects. Various AI techniques like deep learning, machine learning, and natural language processing are applied at different stages of drug development for tasks like improving clinical trial recruitment and monitoring. AI provides pharmaceutical companies with capabilities to develop drugs faster and more efficiently. It personalizes treatment strategies based on individual patient profiles and speeds up molecular simulation and genetic research for precision medicine.
The Global artificial intelligence (AI) in pharmaceutical market is estimated to be valued at USD 1,108.1 Mn in 2024 and is expected to reach USD 7,776.2 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 32.1% from 2024 to 2031.
Personalized treatments tailored to an individual's genetic profile are driving the need for AI-powered drug discovery and development. AI techniques are able to analyze massive volumes of genomic and clinical datasets to identify new treatments. This is fueling demand and enabling the market's rapid growth.
Key Takeaways
Key players operating in the Global Artificial Intelligence (AI) in Pharmaceutical Market are NVIDIA Corporation, IBM Corporation, Exscientia, Insilico Medicine, Atomwise, Inc., Cloud Pharmaceuticals, Inc., Cyclica Inc., Envisagenics, Inc., Numerate, Inc., Schrödinger, Inc., Standigm, Turbine.ai, BenevolentAI, Recursion Pharmaceuticals, Owkin, Inc., XtalPi Inc., Valo Health, Absci. These players are increasing investments in AI technologies and partnering with pharmaceutical companies and research organizations to develop new algorithms and platforms.
The Global Artificial Intelligence (AI) In Pharmaceutical Market Demand AI tools can analyze patient's genetic and health records to design custom-made treatment plans. They also help develop drugs for rare conditions by identifying biological patterns and new molecular targets based on limited clinical datasets. This expanding role in precision medicine is fueling revenue growth.
AI is enabling pharmaceutical companies to expand into new geographical markets. Tools that expedite drug discovery and clinical research allow companies to address unmet medical needs across global populations quicker and at lower costs. Many leading players are partnering with Asian and African countries to develop and commercialize new therapies using AI techniques. This increasing focus on international expansion is expected to drive the market in the coming years.
Market Drivers
The increasing demand for personalized medicine Global Artificial Intelligence (AI) In Pharmaceutical Market Size And Trends AI's ability to integrate diverse data sources help enhance drug efficacy for individuals. Pharmaceutical firms are collaborating with AI companies to develop new algorithms incorporating multi-omics data, real-world evidence, and electronic health records. This helps design targeted therapies, monitor treatment response, and optimize drug regimens. The promise of precision medicine through AI is revolutionizing healthcare and accelerating market growth.
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