Orion Market Research Report Artificial intelligence in Pharmaceutical Market | Page 2

years, the process of how scientist develop new drugs, find cure for disease and many more have changed
a lot with the AI now being in picture.
Browse the full report on Artificial intelligence (AI) in Pharmaceutical Market by Deployment Type
(Cloud and On-Premises), by Application (Drug Discovery, Drug Development, Drug Commercialization)
– Global Trends, Size, Share, Growth, Industry Analysis and Forecast, 2019-2025 at
https://www.omrglobal.com/industry-reports/ai-in-pharmaceutical-market/
The most imperative field of pharmaceutical industry is new drug development. According to a study only
13.8% of the drugs pass the clinical trials successfully and the company invests around $160 million to $2
billion to complete the entire clinical trial process. With the incorporation of AI in pharmaceutical for drug
development, this cost can be reduced, and drug discovery process can be made more cost-effective.
Additionally, AI is suitable for repetitive task which can solve another pharmaceutical problem of analyzing
big data. With the employment of AI in pharmaceutical industry, pool of data can be accessed easily to
extract the useful information. Government is also framing laws to support the new trend of AI in
pharmaceutical; for instance, in 2016, the state council issued the guideline to promote the development
of AI in pharmaceutical sector in China.
By seeing the promising future of AI in healthcare, many biopharma companies and startups in
collaboration with the AI tech companies are driving towards AI technology. Genentech (working on
cancer drug target) , Novartis (trying to improve and speed up the treatment process), Pfizer (accelerating
drug discovery in immune-oncology), Astellas (working on repurposing existing drug) and Sunovion
(researching new drugs for psychiatric disorders) are some of the players of pharmaceutical industry
working with AI technology for its advancement in healthcare.
Current Market Trends Covered in the market report:
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Forth industrial revolution changing the pharmaceutical industry
Proliferation in the funding for the R&D and start-ups
Major acquisitions taking place between the pharma companies, start-ups and tech companies
AI solves the big data complexity in Pharma industry
The Report AI in Pharmaceutical Market – Segmented by Deployment Type and by Application
Global AI in Pharmaceutical Market by Deployment Type
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Cloud
On-Premises