The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.
The AI In Pharma by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s AI In Pharma, The ai in pharma market size has grown exponentially in recent years. It will grow from $1.58 billion in 2023 to $2.06 billion in 2024 at a compound annual growth rate (CAGR) of 30.4%. The growth in the historic period can be attributed to increased adoption of artificial intelligence (ai) for cost efficient drug discovery and rising implementation of ai in radiology.The ai in pharma market size is expected to see exponential growth in the next few years. It will grow to $5.62 billion in 2028 at a compound annual growth rate (CAGR) of 28.5%.
The increasing government support for AI development is expected to drive the growth of the AI in pharmaceuticals market in the coming years. Governments worldwide are acknowledging the potential of AI technologies in transforming the pharmaceutical sector and are actively implementing policies and initiatives to encourage their adoption. Many countries have formulated national AI strategies that specifically target healthcare and pharmaceutical applications, aiming to foster scientific progress and address real-world challenges in the field. For instance, in April 2022, the Australian government unveiled a funding program amounting to AUD 44 million ($29.61 million) to bolster AI research among small and medium-sized enterprises (SMEs). This initiative is part of a broader strategy to boost AI utilization in Australia’s key manufacturing and digital growth sectors, including pharmaceuticals. The funding will support the establishment of digital capability centers, acting as hubs for AI research and development. These centers will offer resources, training, and assistance to SMEs, empowering them to innovate and implement AI technologies. Hence, the increasing government support is poised to propel the growth of the AI in pharmaceuticals market in the forecast period.
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The ai in pharma market covered in this report is segmented –
1) By Technology: Context-Aware Processing, Natural Language Processing, Querying Method, Deep Learning
2) By Drug Type: Small Molecule, Large Molecules
3) By Application: Diagnosis, Clinical Trial Research, Drug Discovery, Research and Development, Epidemic Prediction
Top Major Players
Concerto HealthAI,
Alphabet Inc.,
OWKIN,
Nvidia Corporation,
PathAI
The ai in pharma market report table of contents includes:
1. Executive Summary
- AI In Pharma Market Characteristics
- AI In Pharma Market Trends And Strategies
- AI In Pharma Market – Macro Economic Scenario
- Global AI In Pharma Market Size and Growth
- AI In Pharma Market Segmentation
- AI In Pharma Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The AI In Pharma Market
- AI In Pharma Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global AI In Pharma Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global AI In Pharma Market, Segmentation By Drug Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global AI In Pharma Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………
Table 74: Concerto HealthAI Financial Performance
Table 75: Alphabet Inc. Financial Performance
Table 76: OWKIN Financial Performance
Table 77: Nvidia Corporation Financial Performance
Table 78: PathAI Financial Performance
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