AI in Pharma Market 2021 - Present Scenario on Growth Analysis along with key industry players
October 14, 2021
Increasing use of artificial intelligence (AI) for tracking medication adherence, and COVID-19 will drive the growth in the AI in the pharma market.PORTLAND, OR, UNITED STATES, October 14, 2021 /EINPresswire.com/ -- The increase in the number of cross-industry collaborations and partnerships, along with the rise in requirement to control drug discovery & development costs, are the two significant factors that are responsible for the growth of global artificial intelligence in the drug discovery market. Moreover, the surge in adoption of cloud-based applications and services and the impending patent expiry of blockbuster drugs further drive the growth of the AI in pharma market.
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Major players include: IBM Watson, Microsoft Corporation, Merck, GNS Healthcare, NVIDIA Corporation, XtalPi Inc., Benevolent AI, Cloud Pharmaceuticals Inc., BERG LLC, Google, AstraZeneca, Atom wise Inc., Exscientia, Cyclica and Others
COVID-19 scenario Analysis:
• The emergence of COVID-19 pandemic has affected every industry except pharma industry across the world. Further, it is expected that growth of Pharma is mainly due to the companies resuming their operations and adapting to the new norm 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 outbreak of COVID-19 pandemic has moderately inhibited the growth of pharma industries owing to financial impact, production and demand gap, or supply chain and market disruption.
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