AI in Pharma and
Biotech Market: Introduction
Artificial Intelligence (AI) in
pharma refers to the system of interconnected and automated technologies in the
biotech industry that can function autonomously, with little or no human
intervention. AI is an emerging technology that is being applied in numerous
facets of the pharma sector, ranging from drug development to diagnosis and
even patient care.
Artificial
intelligence use in pharmaceutical technology has been increasing for the
last few years. Therefore, the use of technology can save time and money, while
providing a far better understanding of the relationships between different
formulations and processes parameters.
Key Drivers,
Restraints, and Opportunities of AI in Pharma and Biotech Market
Adoption of artificial intelligence
(AI) in the drug discovery market in developing regions such as APAC is
increasing, thanks to the expansion of pharmaceutical industries by
collaborating with other industries and rise in demand to reduce drug discovery
time. Postponement of the expiry of a patent is anticipated to further boost
the market. Furthermore, the expansion of biotechnology industries is estimated
to offer significant opportunities for the market.
An estimated 50% of U.S. citizens are
affected by at least one chronic condition; consequently, the pharmaceutical
segment of the healthcare industry is projected to be positively impacted by
the expected trend of AI adoption.
All top 10 so-called giant pharma
companies (namely Novartis, Roche, Pfizer, Merck, AstraZeneca, GlaxoSmithKline,
Sanofi, Abbvie, Bristol-Myers Squibb, and Johnson & Johnson) have either
expressly collaborated with or acquired AI technologies to take advantage of
the opportunities AI brings to the table. The positive news is that AI, along
with Machine Learning and Big Data, has great potential to reduce costs of new
drugs and R&D spend both, which for these 10 biggest pharma firms is close
to US$ 70 billion, annually.
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Introduction of a brand new
pharmaceutical drug to plug takes about 12 years and may cost billions in
R&D expenditures. Industry leaders are presently focused on the development
of more efficient methods, and machine learning is emerging as a possible
solution.
The current machine learning
initiatives of the top five pharmaceutical and biotechnology companies reveal
trends within the following areas:
Digital coaching
solutions
For instance: Johnson & Johnson’s
Patient Athlete program
Personalized
medicine
For instance. Johnson & Johnson,
Pfizer, and Novartis’ app of IBM Watson
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Acquisitions galore – Pharma
giants haven’t historically been flush with data science and AI talent, and as
new startups combine the globe of AI and healthcare, acquisitions are likely to
still feed to innovation needs of huge (and old) biotech firms mentioned
earlier.
Drug discovery – Doctors may
feel threatened by the arrival of an AI tool with the aim of “augmenting” their
abilities. Unlike doctors, pharma companies have every reason within the world
to adopt the foremost cutting-edge technologies within the expensive and
lengthy process of drug discovery. Unlike other applications within healthcare
facilities, drug discovery seems to own a clearer path to adoption.
Recently, robots became more
collaborative with humans and are more easily trained by moving them through
the desired task. They’re also becoming more intelligent, as other AI
capabilities are being embedded in their ‘brains’ (really their operating
systems). Over time, it seems likely that an equivalent improvement in intelligence
that we have seen in other areas of AI would be incorporated into physical
robots.
Surgical robots initially approved in
the U.S. in 2000, provided ‘superpowers’ to surgeons, improving their ability
to examine, create precise and minimally invasive incisions, and stitch wounds.
Six important decisions, however, are still made by human surgeons. Common
surgical procedures using robotic surgery include gynecologic surgery, prostate
surgery, and head and neck surgery.
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North America to
Capture Major Share of Global Market of AI in Pharma & Biotech
North America is expected to account
for a major share of the global market of AI in Pharma and Biotech due to the
high prevalence of chronic diseases among the population. Moreover,
well-established healthcare infrastructure, increasing research activities, and
the hub for key industry players are major drivers of the adoption of
artificial intelligence for pharmaceutical companies in the region.
Top 10 Key
Manufacturers or Players Providing AI to Pharma & Biotech Industry:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
TOP 10
Pharmaceutical Companies using AI
Artificial Intelligence has
affected all the sectors in the world. Pharma and healthcare sectors are the
most affected sectors by Artificial Intelligence. Major pharmaceutical
companies using AI or machine learning for drug discovery, clinical research, disease
diagnosis, novel medication, predictions, data analysis, are:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
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