The Business Research Company’s AI In Pharma Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, February 22, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Read More On The Global AI In Pharma Market Report: https://www.thebusinessresearchcompany.com/report/ai-in-pharma-global-market-report
Companies operating in the AI for the pharma market are introducing new AI tools that will be beneficial for the pharma companies. This is a key trend in the artificial intelligence in drug discovery market. AI helps in quality control, predictive maintenance, waste reduction, design optimization and process automation. For instance, in September 2019, Novartis and Microsoft announced a multiyear alliance that will leverage data & Artificial Intelligence (AI) to transform how medicines are discovered, developed and commercialized. Further, Novartis also established an AI Innovation Lab to empower associates to use AI across their business. Therefore, companies operating in the market are continuously focusing on introducing new technologies to survive in the AI in pharma market.
The major players covered in the global AI in pharma and biotech market are 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 global artificial intelligence in pharma market is expected to grow from $0.91 billion in 2020 to $1.27 billion in 2021 at a compound annual growth rate (CAGR) of 39%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The AI in pharmaceuticals market size is expected to reach $5.94 billion in 2025 at a CAGR of 47%.
The artificial intelligence (AI) in pharma market covered in the AI in drug discovery market report is segmented by technology into context-aware processing, natural language processing, querying method, deep learning; by drug type into small molecule, large molecule; by application into diagnosis, clinical trial research, drug discovery, research and development, epidemic prediction.
AI In Pharma Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides AI in pharma market overview, forecast AI in pharma market size and growth for the whole market, AI in pharma market segments, and geographies, AI in pharma market trends, AI in pharma market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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