The global AI in pharmaceutical market is on a trajectory of substantial growth, with a projected valuation of US$4,451.6 Mn by the end of 2030, up from approximately US$807.2 Mn in 2018. This impressive growth is underpinned by the widespread adoption of Artificial Intelligence (AI) technologies across the pharmaceutical industry, from drug discovery to development and personalized treatment. Read More: https://www.fairfieldmarketresearch.com/report/ai-in-pharmaceutical-market Between 2023 and 2030, the market is set to achieve a robust Compound Annual Growth Rate (CAGR) of 19.1%, highlighting the transformative potential of AI in shaping the pharmaceutical landscape. A Paradigm Shift in Pharmaceutical Industry AI in the pharmaceutical sector represents a pivotal transformation, where AI technologies empower researchers and healthcare professionals to make data-driven decisions, reduce costs, and enhance patient outcomes. This paradigm shift is poised to revolutionize drug discovery and development, making it more efficient and cost-effective. Key Market Insights 1. Transforming Drug Discovery and Development AI is emerging as a game-changer in drug discovery and development, harnessing the power of data analytics, machine learning, and natural language processing. By expediting research, AI lowers costs and improves the chances of developing effective medications. As AI technology evolves, its role in reshaping the pharmaceutical sector becomes increasingly significant. 2. Vital Report Findings The global AI in pharmaceutical market is expected to reach US$4,451.6 Mn by 2030, surging from US$807.2 Mn in 2018. The burgeoning use of AI in drug discovery and development, predictive forecasting, pharmaceutical marketing, and personalized treatment will be key growth drivers. Asia Pacific is poised to be the fastest-growing market, while North America continues to lead the way. 3. Driving Factors Increasing Adoption Potential in New Drug Discovery AI has become indispensable in the pharmaceutical sector, especially in the wake of the COVID-19 pandemic. It aids in identifying disease patterns accurately, leading to the discovery of optimal drug compositions. Embracing AI reduces research and development costs, minimizes errors, and accelerates drug development, contributing to the creation of affordable and effective medicines. Rapidly Rising Adoption of AI in Drug Discovery and Development AI is becoming increasingly integral to drug discovery and development. It analyzes vast datasets to identify potential drug targets, optimize drug molecules, and predict efficacy and safety. AI's role in identifying biomarkers for personalized treatment and expediting drug development cannot be overstated. Booming Advanced Technology-enabled Personalized Treatment AI empowers healthcare professionals to provide personalized treatment by analyzing real-time patient data. Machine learning and AI-driven data analysis offer early insights into patient conditions, improving diagnostic capabilities. Predictive forecasting, clinical trial optimization, and pharmaceutical marketing also benefit from AI, driving market growth. 4. Key Segments Drug Discovery: A Pioneering Application Area The drug discovery segment is a major contributor to the AI in pharmaceutical market, valued at US$291.7 Mn in 2022 and projected to reach around US$1,225.9 Mn by 2030. AI's influence in drug discovery spans target identification, clinical trials, and molecular pathway analysis, significantly improving efficiency and success rates. Natural Language Processing: Dominating Technology Segment Natural language processing (NLP) is a pivotal technology in the pharmaceutical industry, enabling the extraction, organization, and analysis of unstructured text data. NLP accelerates the identification of drug candidates, targets, and biological pathways, expediting drug discovery. 5. Regional Growth Opportunities North America's Dominant Position North America, a global technology hub, is expected to hold a substantial share in the AI in pharmaceutical market. AI applications in clinical trials, drug discovery, and drug development, coupled with the rising burden of chronic diseases, are driving market growth. Industry leaders and cross-industry collaborations further bolster the region's position. The United States Leads Investment Global investment in AI in the pharmaceutical industry is soaring, with the United States taking the lead. Investment is projected to reach US$6.3 Bn by 2025, with nearly half of the total coming from the US. China, the UK, Germany, France, and Japan are also actively investing in AI to enhance drug discovery and development capabilities. Asia Pacific: The Fastest Growing Regional Pocket The Asia Pacific region is experiencing rapid growth, with a CAGR of 20.8%. AI adoption in the pharmaceutical industry is gaining momentum, particularly in countries like China, Japan, India, and South Korea. AI is accelerating drug discovery, optimizing drug designs, and tailoring treatment plans to individual patients' characteristics. The region's focus on precision medicine and AI-driven drug repurposing further fuels growth. 6. Competition Landscape The AI in pharmaceutical market is marked by intense competition, with companies and research institutions harnessing AI to advance drug discovery, development, and patient care. Key players include GNS Healthcare, Benevolent AI, Berg Health, Novo Nordisk, IBM Corporation, Alphabet Inc (DeepMind), General Electric Company, Pfizer Inc., Johnson & Johnson, and Novartis AG. Our Trending Blogs: https://medium.com/@swati_85544/global-ai-in-pharmaceutical-market-projected-to-reach-us-4-451-6-ddca7d8ebe37 Fairfield Market Research London, UK UK +44 (0)20 30025888 USA (Toll-free) +1 (844) 3829746
Last changed by  
 
swati tiwari
6695

Read more

Global HR Technology Market: Poised for Extraordinary Growth - Fairfield Market Research

Fairfield Market Research, a renowned authority in market analysis, has unveiled its latest report shedding light on the dynamic landscape of the global HR technology market. This comprehensive study identifies key drivers propelling the industry towards unprecedented growth, including significant investments in HR technology automation and the transformative impact of the COVID-19 pandemic on workforce management.Mounting Investments Fuel HR Technology Market GrowthThe adoption of HR management systems has surged in recent years, with businesses seeking efficient solutions for managing their workforces amidst evolving challenges brought by factors like COVID-19 and the gig economy. In 2021 alone, the HR technology market attracted over US$11.5 billion in venture capital investments, doubling the previous year’s rate. Organizations are increasingly focusing on automation and HR technology to streamline essential processes, thus optimizing operational costs and enhancing planning capabilities.HR Technology: A Resilient Solution During and Post-PandemicThe COVID-19 pandemic has catalyzed significant transformations across industries. HR technology emerged as a dependable and agile resource for businesses navigating these changes. Leading companies like Paradox, iCIMS, Textio, Phenom People, Jobvite, XOR.ai, Upwork, and Eightfold AI have been at the forefront of creating AI-driven solutions for HR and recruitment, fueling the rapid growth of the human resource technology market. Remote and hybrid working models, now integral to the modern workplace, have witnessed remarkable adoption rates since the pandemic’s onset.Artificial Intelligence and Machine Learning Drive GrowthThe integration of AI and ML algorithms into HR technology software is revolutionizing the recruitment process. Automation of hiring operations, including interview scheduling, performance assessment, and inquiry management, is now a reality through AI applications like virtual assistants and bots. This trend is a significant driver of HR technology market expansion. Startups such as Heyjobs have secured substantial investments to accelerate the incorporation of AI technology into talent acquisition solutions. Additionally, the adoption of AI by recruiters for various stages of the hiring process is creating new business opportunities.RPA Elevates HR ManagementRobot Process Automation (RPA) technology empowers organizations to implement efficient personnel management practices while fostering innovation and productivity. RPA capabilities, coupled with AI and machine learning, enable enterprises to standardize operations and reduce IT costs. HR technology vendors offer advanced tools integrated with RPA, exemplified by Oracle Digital Assistant, a chatbot designed for HR tasks.Data Privacy and Integration ChallengesWith the transition to remote work, data privacy and security have taken center stage. Ensuring that HR software meets the unique security requirements of personnel management is paramount. These challenges are expected to impact the performance of the HR technology market.Cloud-Based HR Technology Leads the IndustryThe HR technology market is witnessing a shift from on-premises to cloud-based deployments, driven by the growing adoption of cloud technology, particularly by small and medium-sized enterprises (SMEs). Leading competitors in the market are embracing cloud-based solutions to meet the rising demand for cost-effective HR technology. The cloud-based HR technology industry in North America is projected to double in size by 2025.Healthcare Sector Drives HR Technology AdoptionThe healthcare sector, in particular, has witnessed increased demand for HR management solutions, driven by the need for talent acquisition and workforce management. The rapid growth during the pandemic has heightened the demand for skilled workers across various sectors, further propelling HR technology adoption.Asia Pacific Emerges as a Key Growth HubAsia Pacific is poised for substantial growth in the HR technology market, fueled by increased collaborations, funding, and investments. The region’s growing adoption of cloud computing, AI, and ML is expected to further drive the demand for HR management software.Competitive LandscapeThe global HR technology market is characterized by intense competition, with leading companies such as SAP SE, Oracle Corporation, Infor Inc., ADP Inc., Cornerstone OnDemand Inc., Ceridian HCM Holding Inc., Workday Inc., Cegid Group, Hi bob Inc., and The Access Group occupying dominant positions.Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/human-resource-technology-marketOur Blog: https://www.linkedin.com/pulse/india-human-resource-hr-technology-market-size-primed-arjun-shukla/About UsFairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.ContactFairfield Market ResearchLondon, UKUK +44 (0)20 30025888USA (Toll-free) +1 (844) 3829746Web: https://www.fairfieldmarketresearch.com/Email: sales@fairfieldmarketresearch.comLinkedIn | Twitter

10/5/2023
Mortgage Lending Market Poised for Remarkable Growth: Forecast Predicts 10% CAGR through 2030

The global mortgage lending market is gearing up for a significant growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 10% from 2023 to 2030, according to a comprehensive market analysis. The market is anticipated to reach a substantial market value of approximately US$25 billion by the conclusion of 2030, signaling a wealth of opportunities and key industry insights. Read More: https://www.fairfieldmarketresearch.com/report/mortgage-lending-market Market Analysis in Brief Mortgage lending institutions play a pivotal role by providing financial support to individuals looking to purchase or refinance real estate properties. These institutions meticulously assess applicants' creditworthiness and their ability to repay loans, facilitating property ownership without the immediate financial burden. The dream of homeownership continues to drive the mortgage lending industry. Technological advancements and streamlined application processes have expanded consumer choices, while innovations in software have accelerated application processing, reduced costs for lenders, and enhanced overall customer satisfaction.

9/22/2023
Global Palladium Market Soars with a 6% CAGR, Expected to Reach US$25 Billion by 2030

Global Palladium Market Soars with a 6% CAGR, Expected to Reach US$25 Billion by 2030

9/22/2023
Global Interior Finish Market Set for Remarkable 7% CAGR Growth, Expected to Reach US$10 Billion by 2030

A recent market analysis report indicates that the global interior finish market is on the verge of substantial expansion, with an anticipated Compound Annual Growth Rate (CAGR) of 7% between 2023 and 2030. This growth trajectory is expected to propel the market to a value of nearly US$10 billion by the end of the decade, marking a significant milestone in the evolution of the industry. Read More: https://www.fairfieldmarketresearch.com/report/interior-finish-market Key Highlights from the Market Analysis: The interior finish market is poised for impressive growth, driven by various factors that are reshaping the industry landscape. Changing consumer preferences, an emphasis on sustainability, and technological advancements are key drivers fueling this expansion. Changing Consumer Preferences and Lifestyle Trends:

9/21/2023
Read more from swati tiwari
Published on HackMD