Artificial
Intelligence (AI) in pharma is defined as system of interrelated and automated
technologies in the biotech industry which can work autonomously, without any human
intervention. AI is an evolving technology which is being used in various
facets of the pharma sector, from drug development to diagnosis as well as
patient care. Artificial intelligence use in pharmaceutical technology has been
increasing recently. Thus, the use of technology can save time and money, while
offering a far better understanding of the relationships among various
formulations and processes parameters. The rising number of cross-industry
collaboration and partnerships, coupled with the increasing need to reduce drug
discovery & development costs, are the two major factors which are
responsible for the growth of global artificial intelligence in pharma market. In
addition, the rising adoption of cloud-based applications and services and the imminent
patent expiry of successful drugs are further propelling the growth of the AI
in pharma market. Furthermore, the rising adoption of artificial intelligence
(AI) for clinical trials research is also accelerating its demand for AI in the
pharma market. To bring a novel drug to the market it takes on an average
approximately 10-15 years moreover, half of the time is consumed in the
clinical trial phases of the drug development cycle. Therefore, using artificial
intelligence models and analytics tools can propel the clinical trial phases, interpretation
of diseases, recognize suitable cases and key investigators to inform site
selection and help novel clinical study designs. Additionally, the rising volume
of monumental data produced by the molecule screening processes and the
preclinical studies is further increasing the adoption of artificial
intelligence in the pharma space. A huge volume of data makes the analysis of
the scientific literature a complicated process. Hence, scientists use artificial
intelligence to fuel the screening process and reduce the time required for
studying and identifying drug molecule interactions and histology data. On the
other hand, the factors such as dearth of skilled expertise and inadequate
availability of databases are the likely to hamper the AI in pharma market.
Moreover,
the increasing adoption of AI in the drug delivery space to perform the
standard processes such as data mining and customization capabilities of the AI
platforms is opening new avenues for the growth of the AI in pharma market. The
AI algorithm-based models offer precise analysis of human physiology response compared
to animal models. In addition to this, AI-based models also help in reducing
the experimental costs and efficient prediction of cross-species differences.
The
global AI in Pharma Market is segregated on the basis of Technology as Context-Aware
Processing, Natural Language Processing, Querying Method and Deep Learning.
Based on Drug Type the global AI in Pharma Market is segmented in Small
Molecule and Large Molecules. Based on Application the global AI in Pharma
Market is segmented in Diagnosis, Clinical Trial Research, Drug Discovery, Research
and Development and Epidemic Prediction.
The
global AI in Pharma Market report provides geographic analysis covering
regions, such as Europe, North America, Asia Pacific, and Rest of The World.
The AI in Pharma Market for each region is further segmented for major
countries including the U.S., Canada, Germany, the U.K., France, Italy, China,
India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Novartis,
IBM Watson, Microsoft Corporation, Merck, GNS Healthcare and others are among
the major players in the global AI in Pharma Market. The companies studied in
terms of product strategy and various n several growth and expansion strategies
to gain a competitive edge in the market. The major players not only follow
value chain integration with business operations in multiple stages of the
value chain.
- In November
2018, Cyclica, a Canadian-biotechnology company which deploys AI and
computational biophysics to decentralize drug discovery has partnered with
Bayer for drug discovery programs. These companies will enhance drug discovery
applications by rising artificial intelligence into the polypharmacological
outlines of small molecules while further developing Cyclica's integrated
system of licensing technologies.
- In
January 2020, Pfizer, an American pharmaceutical company, collaborated with a
biotech startup Insilico Medicine to recognize drug targets. With artificial
intelligence tools Pfizer can accelerate drug discovery and minimize drug
development costs in the drug development processes.
The global AI in Pharma Market has been segmented
as below:
AI in
Pharma Market, By Technology
- Context-Aware Processing
- Natural Language Processing
- Querying Method
- Deep Learning
AI in
Pharma Market, By Drug Type
- Small Molecule
- Large Molecules
AI in
Pharma Market, By Application
- Diagnosis
- Clinical Trial Research
- Drug Discovery
- Research and Development
- Epidemic Prediction
AI in
Pharma Market, By Region
- Europe
- North America
- Asia Pacific
- Rest of The World
AI in
Pharma Market, By Company
- Novartis
- IBM Watson
- Microsoft Corporation
- Merck
- GNS Healthcare
- Google
- AstraZeneca
- Atomwise Inc.
- Exscientia
- Cyclica
- NVIDIA Corporation
- XtalPi Inc.
- BenevolentAI
- Cloud Pharmaceuticals Inc
- BERG LLC
- Bayer
- Pfizer
- Recursion Pharmaceuticals Inc.
- Bristol-Myers Squibb
The
report covers the below scope:
- Global AI in Pharma Market sizes
from 2020 to 2026, along with CAGR for 2020-2026
- Market size comparison for 2019 vs
2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
- Global AI in Pharma Market trends,
covering comprehensive range of consumer trends & manufacturer trends
- Value chain analysis covering
participants from raw material suppliers to the downstream buyer in the global AI
in Pharma Market
- Major market opportunities and
challenges in forecast timeframe to be focused
- Competitive landscape with analysis
on competition pattern, portfolio comparisons, development trends and strategic
management
- Comprehensive company profiles of
the key industry players
The
years considered for the study are as follows:
- Base year - 2019
- Estimated year - 2019
- Projected year - 2020
- Forecast period - 2021 to 2026
Report
Scope:
The global AI in Pharma Market report scope
includes detailed study covering underlying factors influencing the industry
trends. The report covers analysis on regional and country level market
dynamics. The scope also covers competitive overview providing company market
shares along with company profiles for major revenue contributing companies.
The report scope includes detailed competitive outlook covering market shares
and profiles key participants in the global AI in Pharma Market share. Major
industry players with significant revenue share include Novartis,
IBM Watson, Microsoft Corporation, Merck, GNS Healthcare and others.
Why to
Buy this Report:
- Gain detailed insights on the AI in Pharma
industry trends
- Find complete analysis on the
market status
- Identify the AI in Pharma Market
opportunities and growth segments
- Analyse competitive dynamics by
evaluating business segments & product portfolios
- Facilitate strategy planning and
industry dynamics to enhance decision making
Target
Audience:
- The report targeted towards the existing players in
the industry is as follows:
- Market Manufacturers/Service
Providers
- Market Wholesale/Traders
- Investment and Financial
Institutions
Free
and Paid Customization based on the requirement