AI in Pharmaceutical Market Size, Share, Growth, and Industry Analysis, By Type (Smart Phones and Tablets, Wearables, Workstation Systems, Medical devices, Autonomous Robots, Imaging Systems, and others), By End User (Hospitals and Providers, Pharmaceutical and Biotechnology companies, and Regional Forecast to 2033

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AI IN PHARMACEUTICAL MARKET OVERVIEW

The global AI in Pharmaceutical Market is poised for significant growth, starting at approximately USD 1.6 billion in 2024, climbing to USD 1.82 billion in 2025, and projected to reach USD 5 billion by 2033, with a CAGR of about 13.6%.

As AI is growing in every field and making work easy and fast, in the same way, it also helps the pharmaceutical market grow faster and smarter. With the help of AI, they can make new medicines and improve the drug intake. Now, with AI tools the doctors can consult from any place in the world and can give personalised treatment plans.  AI can reduce the cost of research, save time, improve quality, and reduce waste. Many top companies use AI to discover medicine and to compete with competitors, so that they can stay in the market.

Because of AI, the company can now research the drugs they want in their medicine and can purchase them from anywhere in the world. Through AI, they can also know that in which bodies they can test their medicines and injections on.

AI IN PHARMACEUTICAL MARKET KEY FINDINGS

• Market size and growth - In 2024, AI in the pharmaceutical market was valued at approximately USD 1.6 billion, and is projected to reach USD 1.82 billion in 2025, and is expanding to 5 billion by 2033.
• Key market driver - In 2023, AI helped in research, due to which the usage of time is reduced by 30%, and the R&D Process has become quicker and faster.
• Major market Restraint - In 2023, because of AI, 40% of companies faced a problem of Data Privacy and regulatory challenges.
• Emerging Trend - In 2023, the use of AI increased by 35% for predictive analysis in clinical trials, and it also helped to choose the right patient and made the trials faster.
• Regional Leadership - North America leads 48% of AI Adoption in pharma because of its Advanced healthcare infrastructure and tech innovation.  
• Competitive landscape - In 2023, top companies like IBM, Watson, and Google Health Invested more than 28% in biotech Companies.
• Market Segmentation - More than 50% of Companies use AI for the research of new medicine and how they can get cheaper and quicker ways to create drugs.
• Recent Development - From 2024, Companies started to collect data from wearable devices, and with the help of that, doctors can now give the patient personalized treatments.

RUSSIA- UKRAINE WAR IMPACT

The Pharmaceutical Market Had a Negative Effect, as Russia is known for a global supply chain of raw materials needed for drug development

When the Russia-Ukraine war was going on, it had a negative impact on the Pharmaceutical market because the supply of raw materials for medicines was stopped, and cross-border Collaboration was stopped. Due to the war between the two countries, there is a great impact on the global market and in many industries.

Ukraine is known for clinical trials because of its large patient base, low cost, and good and experienced medical staff.  Many Pharma companies were closed due to the war, as of which many ongoing trials were cancelled, and many projects were stopped. During the war Data system was off, because of that, all AI-related research was not possible.

Russia is known for the supply of raw materials for drugs. Many Countries that were importing the raw material from Russia have to search for another supplier as the import-export was completely stopped. Many Companies who has tied up with Russia got cancelled.

LATEST TRENDS

Generate AI-based medicine to Drive Market Growth

Companies can now demand Raw materials for a drug by searching in AI tools. AI also helps pharma companies to test their new medicines on bodies, and the AI shows them fast results.

AI also suggests the best rates to purchase drugs. While making medicine, AI also helped to show how much drug is required in one medicine. AI also maintain Quality and Time. AI is well suited for AI in pharmaceutical market growth.

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AI IN PHARMACEUTICAL MARKET SEGMENTATION

By Type

Based on type, the global market can be categorised into Smart Phones and Tablets, Wearables, Workstation systems, Medical devices, Autonomous Robots, Imaging systems, and others

• Smart Phones and Tablets: There are many AI Applications that help in day-to-day life to track their health, such as Heart rate, Sugar level, and there are also some applications that remind them to take medicines.

• Wearables: Wearable helps to track a person’s sleep, heart rate, and daily steps. With the help of this data doctor can get knowledge of the patient’s daily routine, and it helps to give a proper treatment.

• Workstation Systems: In the Workstation system, AI helps to get drug information and to find new medicines. Through AI, they can also get more information about market trends and can also manage clinical trials.

• Medical Devices: Devices used to measure Glucose and heart rate are working constantly and give a timely report of the patient, which helps doctors to get treatment.

• Autonomous Robots: The Robots are created to take care of patients, they are created with the help of AI. The Robots help to collect data on drugs, which are tested by AI, and with that, new medicines are created.

• Imaging Systems: It helps to track how medicine responds to patients and gives fast and accurate results. It also helps to know how new medicines respond to clinical trials.

• Other: Many AI websites help common people to know about common medicines and their uses. Doctors use AI to keep a record of Patient data. Pharma Companies use AI for research and keep their big data in cloud computing.

By End Users

Based on end users, the global market can be categorized into Hospitals and Providers, Pharmaceutical and Biotechnology Companies

• Hospital and providers: Hospitals use AI to keep records of their patients. They also maintain Medicine stock and expiry dates in a better way with the use of AI. With the help of AI, they can also find patients for clinical trials.

• Pharmaceutical and biotechnology Companies: The Companies use AI for quicker and faster work with good quality and in a better way. It also helps to do research on where they can get good raw materials.

MARKET DYNAMICS

Driving Factors

Click To Health Care To Grow The Market

At Present, everyone wants to do the work faster and in easier way. So, to grow in AI in the pharmaceutical market, the company needs to go online and sell its product. They should provide good discounts and timely delivery to grow in the market. They can also provide online consultancy to the patients and give them personalised treatment. They should give the common medicine details in a simpler version so that a normal human can understand about the medicine.

Simplifying Ai To Expand The Market

There are many Health-related AI applications and websites are there but they are very complex and hard to use. The company should make such applications that are easy to use for all age groups and should have all the features related to health, such as Blood Pressure measurement, sugar measurement, and many more. The applications should also have details about common diseases and their medicine name and other details on one hand. It should also have the Doctor’s name list to contact in an emergency.

Restraining Factors

Lack of awareness impacts the growth of the market

Many People don’t trust AI and think that AI misguides, which impacts the Growth of the market. The company should take online and offline and online Compaign to explain to consumers about the AI. They should also explain to their employees about the AI, that AI is not replacing their job but helps them with research and to make their work easier. AI helps to create new medicine and determine how many drugs should be in that medicine.

Opportunity

A Pharma company should use AI for Drug Discovery

Opportunity

The Company should use AI for drug Discovery, which will reduce cost, time, and will reduce trials. If drugs are discovered early, they will give them a competitive advantage. With the use of AI, they can predict how the drug will behave in the body, and the results will come faster. They will be able to know which drug is good and which is not appropriate to use.

Market Acceptance Of Ai But Other Factors Want To Work

Challenge

Many Pharma Companies are ready to accept AI, but due to low internet, they want to get results. This is a big challenge to the security and privacy of data; if that is not maintained properly, it can be a problem for a company. Initial Cost increases because AI-related software is very costly. Professionals should be hired to work on the software. To store data, Cloud Computing costs have increased. To train the new employees about AI.

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AI IN PHARMACUTICAL MARKET REGIONAL INSIGHTS

• North America

North America has an Advanced Health Infrastructure with high-class research centers, hospitals, and the best Pharmaceutical companies. United States AI in pharmaceutical market is very advanced. Many Top US-based Pharma Companies invest in AI for their growth and development, which helps them to create new medicines and new clinical trials. They also invest in good Tech companies to obtain AI-based features in their software.  The Pharma Companies are now focusing on Personalized and Predictive medicine. North America has 45-50% of the market share of global AI in the Pharmaceutical market.

• Europe

Europe is known as the strategic hub for AI innovation in the Pharmaceutical industry. To boost AI in Europe government launches many schemes that give benefits to big Pharma Companies. The European Government also encourages AI-based start-ups. The Pharma companies have collaborated with Universities, research Companies, and AI-based companies to grow their business fast and to compete with competitors. Europe has 25-30% of the global AI in pharmaceutical market share.

• Asia

Asia, particularly countries like India, is known for exporting generic drugs to over 200 countries. Indian Pharma Companies use AI for drug Research, and for supply chain Management. The Indian government also runs programs to adopt AI in the health and pharma sector. India is known as a developing country, so there are changes that the Pharma industry will grow in the coming years. India has a high human resource, good infrastructure, and good funding, all there is a need for proper utilization of resources.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market Through Innovation and Market Expansion

Key Industry Players are shaping the AI in Pharmaceutical market through Strategy Innovation, and Market Expansion. These Companies are adopting new AI strategies, and doing their research in an advanced manner. These Companies are training and upskilling their team, so that they can become user-friendly with the AI. They are also focusing on security and Privacy so that their data cannot be leaked. Investing in AI-based Companies and research centers so that they can get new growth and opportunities in the global market. Using AI tools to check the quality of the drugs and get fast results in clinical trials.

A List Of Top Ai In Pharmaceutical Companies

• Google LLC. (U.S)
• Intel Corporation (U.S.)
• Sanofi (France)
• Eli Lilly and Company (U.S.)
• IBM Corporation (U.S.)
• Exscientia (U.K.)
• Iktos (France)
• Biovista (U.S)

KEY INDUSTRY DEVELOPMENT

OCTOBER 2023: October 2023 has changed the perspective of pharma companies. In October, the AI was launched in the industry as wearable health devices. After that, the Pharma companies have started their collaboration with tech companies and started AI-based research for the growth of the company.  Many Wearables have been launched after that in different forms. That was the very key factor for this industry.

REPORT COVERAGE

SWOT analysis is presented in this work at a high level, and helpful recommendations regarding the evolution of the market are considered. This report gives you an idea about market segmentation and the applications that have the potential to influence the market growth in future years. The report also gives you an idea of the opportunities in this market. The work uses both, the data regarding the modern state of the market and the information on its evolution to identify the possible development trends.

The AI in the Pharmaceutical Market is expected to gain a high growth rate because of the adoption of new technology and working smarter and faster. There might be some problems related to the data network, Cloud computing, Data security and Privacy, and government compliance. AI helps with drug analysis and gives fast results. It also helps in clinical trials. Pharma companies have good opportunities, they just need to adopt and grow their market.