Pharma Global Market Opportunities Explained

Since 2015, the global AI in the Pharma market has grown at a compound annual growth rate (CAGR) of 31.8 percent, reaching over $699.3 million in 2020. The market is predicted to increase at a 32.9 percent annual rate from $699.3 million in 2020 to $2,895.5 million in 2025. From 2025 to 2030, the market is estimated to increase at a CAGR of 25.9%, reaching $9,142.7 million. Artificial intelligence (AI) refers to a system of interconnected and automated technologies that can function autonomously with little or no human interaction in the pharmaceutical and biotechnology industries.

It aids Pharma organizations in improving clinical trials, increasing predictive power in the R&D process, and elevating pharmaceutical manufacturing. As the global AI in the market emerges from the COVID-19 shutdown, this research gives strategists, marketers, and senior management the crucial information to assess the market. Increased healthcare spending, strong economic growth in emerging nations, and government initiatives in developing economies all contributed to the recent expansion of AI in the Pharma market.

The market was constrained by a lack of competent labor, limited healthcare access, and regulatory changes. In the Pharma market, future growth in AI will be driven by increased acceptance of artificial intelligence (AI) for clinical trials, increased use of artificial intelligence (AI) for tracking medication adherence, and COVID-19. However, intense rivalry and incompatible legacy health IT infrastructure are two factors that could hamper the market growth in the future.

Context-aware processing, natural language processing, querying method, and deep learning are the technological segments in the AI in the market. Deep learning was the most significant technology segment of the AI in the Pharma market in 2020, accounting for 33.2 percent of the total.