Strong CAGR to Propel in the Machine Learning (ML) in The Pharmaceutical Industry Market and Beyond upto $13.99 Billion by 2029
Discover trends, market shifts, and competitive outlooks for the machine learning (ml) in the pharmaceutical industry industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
What is the Projected CAGR for the Machine Learning (ML) in The Pharmaceutical Industry Market Size from 2025 to 2034?
The market size for machine learning (ML) in the pharmaceutical industry has seen an impressive surge in recent years. The value of the market is expected to increase from $3.02 billion in 2024 to $4.11 billion in 2025, with a compound annual growth rate (CAGR) of 35.9%. The significant growth observed in the historical period can be linked to the rising acceptance of federated learning, the acceleration of drug discovery timelines, improved drug safety measures and pharmacovigilance, as well as the broadening scope of precision medicine applications.
Anticipated exponential expansion is projected for the machine learning (ML) in the pharmaceutical industry market in the coming years, reaching $13.99 billion in 2029, with a compound annual growth rate (CAGR) of 35.8%. The leap in the projected timeframe is linked to the increasing complexity of biological data, heightened computational power, heightened industry understanding, and education, as well as a focus on patient-centric healthcare responses. Key trends for this forecast period incorporate partnerships and collaborations between AI and pharma, drug-agnostic treatments, ML system interoperability, the decentralization of clinical trials, and the discovery of AI-propelled biomarkers.
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Which Primay Drivers Are Accelerating Growth in the Machine Learning (ML) in The Pharmaceutical Industry Market?
The pharmaceutical industry is being propelled by the rising uptake of artificial intelligence (AI) and machine learning (ML). AI is defined as computer software that emulates human cognitive functions to carry out intricate tasks such as evaluation, reasoning, and learning. ML, on the other hand, is an aspect of AI that utilises data-trained algorithms to generate models capable of executing complex tasks. The implementation of AI and ML in pharmaceutical technology and drug delivery design provides swift remedies to intricate problems. It carries the potential to alliterate the drug delivery procedure, enrich decision-making instruments, and manipulate huge amounts of data for more effectual decisions. For example, Forbes, a US-based business magazine, reported in June 2023 approximately 432,000 UK firms, equivalent to one in six, have integrated at least one AI technology into their operations. In addition, at least one AI technology has been embraced by 68% of major businesses, 33% of medium-sized enterprises, and 15% of small businesses. As a result, the escalating uptake of artificial intelligence (AI) is set to push forward machine learning (ML) within the pharmaceutical industry.
Which Primary Segments of the Machine Learning (ML) in The Pharmaceutical Industry Market Are Driving Growth and Industry Transformations?
The machine learning (ML) in the pharmaceutical industry market covered in this report is segmented –
1) By Component: Solution, Services
2) By Component: Cloud, On-premise
3) By Enterprise Size: Small and Medium Enterprises (SMEs), Large Enterprises
Subsegments:
1) By Solution: Drug Discovery Platforms, Predictive Analytics Tools, Clinical Trial Optimization Solutions, Patient Data Management Systems, Personalized Medicine Applications
2) By Services: Consulting Services, Implementation And Integration Services, Data Analysis And Modeling Services, Training And Support Services, Managed Services
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Which Regions Are Key Players in the Growth of the Machine Learning (ML) in The Pharmaceutical Industry Market?
North America was the largest region in the machine learning in the pharmaceutical industry market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine learning (ML) in the pharmaceutical industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which Technological Trends Are Reshaping the Machine Learning (ML) in The Pharmaceutical Industry Industry Dynamics?
Prominent firms in the pharmaceutical industry dealing with machine learning (ML) are dedicated to creating accessible software platforms, like drug discovery software, to augment their pharmaceutical discovery prowess. Drug discovery software includes numerous specific tools and platforms utilized throughout the procedure of recognizing and crafting new pharmaceutical drugs. For example, in December 2023, the US pharmaceutical company Merck & Co. Inc., introduced the AIDDISON drug discovery software. This is the first software-as-a-service platform that marries drug discovery and synthesis through the application of generative AI, machine learning, and computer-aided drug design. It equips labs with the ability to pinpoint suitable drug candidates within an expansive chemical space, virtually assess compounds from a pool of more than 60 billion chemical targets, and analyze synthesis routes for more secure, economically efficient, and higher yield drug production.
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What Parameters Are Used to Define the Machine Learning (ML) in The Pharmaceutical Industry Market?
Machine learning (ML) in the pharmaceutical industry market refers to the use of artificial intelligence (AI) algorithms and techniques. They are used to improve various aspects of drug discovery, development, and manufacturing processes. The implementation of ML solutions in the pharmaceutical industry requires careful regulatory compliance and addressing potential challenges related to data quality, research gaps, and regulatory uncertainty.
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