The North America Machine Learning in Pharmaceutical Industry Market would witness market growth of 33.0% CAGR during the forecast period (2023-2029).
Artificial intelligence (AI) algorithms and statistical models are employed in the pharmaceutical business to analyze enormous datasets to find patterns and relationships that can be utilized to improve decisions about drug development, clinical trials, and patient care. The pharmaceutical sector is rapidly using machine learning (ML) to support discovering and development of new drugs. ML approaches can be used to evaluate vast volumes of data, including genomes, proteomics, and metabolomics data, to find new therapeutic targets and possible drug candidates.
The effectiveness of possible drug candidates can also be predicted using machine learning (ML) algorithms, which can aid researchers in prioritizing which drug candidates to proceed with during the drug development process. As a result, lowering the number of medication candidates that must be examined in clinical trials can save time and resources. By accelerating, streamlining, and improving the delivery of new medications to patients, the application of ML in drug research and development has the potential to transform the pharmaceutical business completely.
The Canadian government has provided funding for eHealth programs, such as the First Ministers' Agreements. Health Canada has put policy concerns and challenges at the top of its list of things to do to integrate eHealth services into Canada's healthcare system and track how they are being deployed and invested. Thus, the rising use of eHealth in the region is expected to surge the utilization of machine learning in the pharmaceutical to access the patient's database better and provide precise remedies to them, which will boost the market growth in North America.
The US market dominated the North America Machine Learning in Pharmaceutical Industry Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $3,336.6 million by 2029. The Canada market is poised to grow at a CAGR of 35.6% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 35.2% during (2023 - 2029).
Based on Component, the market is segmented into Solution and Services. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Machine Learning in Pharmaceutical Industry Market is Projected to reach USD 11.4 Billion by 2029, at a CAGR of 34.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC (Alphabet, Inc.), NVIDIA Corporation, IBM Corporation, Microsoft Corporation, Cyclica, Inc., BioSymetrics Inc., Cloud Pharmaceuticals, Inc., Deep Genomics Incorporated and Atomwise, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
By Deployment Mode
By Organization size
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Google LLC (Alphabet, Inc.)
- NVIDIA Corporation
- IBM Corporation
- Microsoft Corporation
- Cyclica, Inc.
- BioSymetrics Inc.
- Cloud Pharmaceuticals, Inc.
- Deep Genomics Incorporated
- Atomwise, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Machine Learning in Pharmaceutical Industry Market, by Component
1.4.2 North America Machine Learning in Pharmaceutical Industry Market, by Deployment Mode
1.4.3 North America Machine Learning in Pharmaceutical Industry Market, by Organization size
1.4.4 North America Machine Learning in Pharmaceutical Industry Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2019, Sep – 2023, Mar) Leading Players
Chapter 4. North America Machine Learning in Pharmaceutical Industry Market by Component
4.1 North America Solution Market by Country
4.2 North America Services Market by Country
Chapter 5. North America Machine Learning in Pharmaceutical Industry Market by Deployment Mode
5.1 North America Cloud Market by Country
5.2 North America On premise Market by Country
Chapter 6. North America Machine Learning in Pharmaceutical Industry Market by Organization size
6.1 North America Large Enterprises Market by Country
6.2 North America SMEs Market by Country
Chapter 7. North America Machine Learning in Pharmaceutical Industry Market by Country
7.1 US Machine Learning in Pharmaceutical Industry Market
7.1.1 US Machine Learning in Pharmaceutical Industry Market by Component
7.1.2 US Machine Learning in Pharmaceutical Industry Market by Deployment Mode
7.1.3 US Machine Learning in Pharmaceutical Industry Market by Organization size
7.2 Canada Machine Learning in Pharmaceutical Industry Market
7.2.1 Canada Machine Learning in Pharmaceutical Industry Market by Component
7.2.2 Canada Machine Learning in Pharmaceutical Industry Market by Deployment Mode
7.2.3 Canada Machine Learning in Pharmaceutical Industry Market by Organization size
7.3 Mexico Machine Learning in Pharmaceutical Industry Market
7.3.1 Mexico Machine Learning in Pharmaceutical Industry Market by Component
7.3.2 Mexico Machine Learning in Pharmaceutical Industry Market by Deployment Mode
7.3.3 Mexico Machine Learning in Pharmaceutical Industry Market by Organization size
7.4 Rest of North America Machine Learning in Pharmaceutical Industry Market
7.4.1 Rest of North America Machine Learning in Pharmaceutical Industry Market by Component
7.4.2 Rest of North America Machine Learning in Pharmaceutical Industry Market by Deployment Mode
7.4.3 Rest of North America Machine Learning in Pharmaceutical Industry Market by Organization size
Chapter 8. Company Profiles
8.1 NVIDIA Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 IBM Corporation
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional & Segmental Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Acquisition and Mergers:
8.2.6 SWOT Analysis
8.3 Microsoft Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.5.2 Product Launches and Product Expansions:
8.3.6 SWOT Analysis
8.4 Google LLC (Alphabet, Inc.)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Product Launches and Product Expansions:
8.4.6 SWOT Analysis
8.5 Cyclica, Inc.
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Partnerships, Collaborations, and Agreements:
8.5.2.2 Product Launches and Product Expansions:
8.6 BioSymetrics, Inc.
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.6.2.2 Product Launches and Product Expansions:
8.7 Deep Genomics Incorporated
8.7.1 Company Overview
8.7.2 Recent strategies and developments:
8.7.2.1 Partnerships, Collaborations, and Agreements:
8.8 Atomwise, Inc.
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Partnerships, Collaborations, and Agreements:
8.9 Cloud Pharmaceuticals, Inc.
8.9.1 Company Overview
TABLE 1 North America Machine Learning in Pharmaceutical Industry Market, 2019 - 2022, USD Million
TABLE 2 North America Machine Learning in Pharmaceutical Industry Market, 2023 - 2029, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Machine Learning in Pharmaceutical Industry Market
TABLE 4 Product Launches And Product Expansions– Machine Learning in Pharmaceutical Industry Market
TABLE 5 Acquisition and Mergers– Machine Learning in Pharmaceutical Industry Market
TABLE 6 North America Machine Learning in Pharmaceutical Industry Market by Component, 2019 - 2022, USD Million
TABLE 7 North America Machine Learning in Pharmaceutical Industry Market by Component, 2023 - 2029, USD Million
TABLE 8 North America Solution Market by Country, 2019 - 2022, USD Million
TABLE 9 North America Solution Market by Country, 2023 - 2029, USD Million
TABLE 10 North America Services Market by Country, 2019 - 2022, USD Million
TABLE 11 North America Services Market by Country, 2023 - 2029, USD Million
TABLE 12 North America Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2019 - 2022, USD Million
TABLE 13 North America Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2023 - 2029, USD Million
TABLE 14 North America Cloud Market by Country, 2019 - 2022, USD Million
TABLE 15 North America Cloud Market by Country, 2023 - 2029, USD Million
TABLE 16 North America On premise Market by Country, 2019 - 2022, USD Million
TABLE 17 North America On premise Market by Country, 2023 - 2029, USD Million
TABLE 18 North America Machine Learning in Pharmaceutical Industry Market by Organization size, 2019 - 2022, USD Million
TABLE 19 North America Machine Learning in Pharmaceutical Industry Market by Organization size, 2023 - 2029, USD Million
TABLE 20 North America Large Enterprises Market by Country, 2019 - 2022, USD Million
TABLE 21 North America Large Enterprises Market by Country, 2023 - 2029, USD Million
TABLE 22 North America SMEs Market by Country, 2019 - 2022, USD Million
TABLE 23 North America SMEs Market by Country, 2023 - 2029, USD Million
TABLE 24 North America Machine Learning in Pharmaceutical Industry Market by Country, 2019 - 2022, USD Million
TABLE 25 North America Machine Learning in Pharmaceutical Industry Market by Country, 2023 - 2029, USD Million
TABLE 26 US Machine Learning in Pharmaceutical Industry Market, 2019 - 2022, USD Million
TABLE 27 US Machine Learning in Pharmaceutical Industry Market, 2023 - 2029, USD Million
TABLE 28 US Machine Learning in Pharmaceutical Industry Market by Component, 2019 - 2022, USD Million
TABLE 29 US Machine Learning in Pharmaceutical Industry Market by Component, 2023 - 2029, USD Million
TABLE 30 US Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2019 - 2022, USD Million
TABLE 31 US Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2023 - 2029, USD Million
TABLE 32 US Machine Learning in Pharmaceutical Industry Market by Organization size, 2019 - 2022, USD Million
TABLE 33 US Machine Learning in Pharmaceutical Industry Market by Organization size, 2023 - 2029, USD Million
TABLE 34 Canada Machine Learning in Pharmaceutical Industry Market, 2019 - 2022, USD Million
TABLE 35 Canada Machine Learning in Pharmaceutical Industry Market, 2023 - 2029, USD Million
TABLE 36 Canada Machine Learning in Pharmaceutical Industry Market by Component, 2019 - 2022, USD Million
TABLE 37 Canada Machine Learning in Pharmaceutical Industry Market by Component, 2023 - 2029, USD Million
TABLE 38 Canada Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2019 - 2022, USD Million
TABLE 39 Canada Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2023 - 2029, USD Million
TABLE 40 Canada Machine Learning in Pharmaceutical Industry Market by Organization size, 2019 - 2022, USD Million
TABLE 41 Canada Machine Learning in Pharmaceutical Industry Market by Organization size, 2023 - 2029, USD Million
TABLE 42 Mexico Machine Learning in Pharmaceutical Industry Market, 2019 - 2022, USD Million
TABLE 43 Mexico Machine Learning in Pharmaceutical Industry Market, 2023 - 2029, USD Million
TABLE 44 Mexico Machine Learning in Pharmaceutical Industry Market by Component, 2019 - 2022, USD Million
TABLE 45 Mexico Machine Learning in Pharmaceutical Industry Market by Component, 2023 - 2029, USD Million
TABLE 46 Mexico Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2019 - 2022, USD Million
TABLE 47 Mexico Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2023 - 2029, USD Million
TABLE 48 Mexico Machine Learning in Pharmaceutical Industry Market by Organization size, 2019 - 2022, USD Million
TABLE 49 Mexico Machine Learning in Pharmaceutical Industry Market by Organization size, 2023 - 2029, USD Million
TABLE 50 Rest of North America Machine Learning in Pharmaceutical Industry Market, 2019 - 2022, USD Million
TABLE 51 Rest of North America Machine Learning in Pharmaceutical Industry Market, 2023 - 2029, USD Million
TABLE 52 Rest of North America Machine Learning in Pharmaceutical Industry Market by Component, 2019 - 2022, USD Million
TABLE 53 Rest of North America Machine Learning in Pharmaceutical Industry Market by Component, 2023 - 2029, USD Million
TABLE 54 Rest of North America Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2019 - 2022, USD Million
TABLE 55 Rest of North America Machine Learning in Pharmaceutical Industry Market by Deployment Mode, 2023 - 2029, USD Million
TABLE 56 Rest of North America Machine Learning in Pharmaceutical Industry Market by Organization size, 2019 - 2022, USD Million
TABLE 57 Rest of North America Machine Learning in Pharmaceutical Industry Market by Organization size, 2023 - 2029, USD Million
TABLE 58 Key Information – NVIDIA Corporation
TABLE 59 Key information – IBM Corporation
TABLE 60 key information – Microsoft Corporation
TABLE 61 Key Information – Google LLC
TABLE 62 Key Information – Cyclica, Inc.
TABLE 63 Key Information – BioSymetrics, Inc.
TABLE 64 Key Information – Deep Genomics Incorporated
TABLE 65 Key Information – Atomwise, Inc.
TABLE 66 Key Information – Cloud Pharmaceuticals, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 4 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2019, Sep – 2023, Mar) Leading Players
FIG 5 Recent strategies and developments: NVIDIA Corporation
FIG 6 SWOT Analysis: NVIDIA Corporation
FIG 7 Recent strategies and developments: IBM Corporation
FIG 8 Swot analysis: IBM Corporation
FIG 9 SWOT Analysis: Microsoft Corporation
FIG 10 SWOT Analysis: Alphabet Inc. (Google LLC)
FIG 11 Recent strategies and developments: Cyclica, Inc.
FIG 12 Recent strategies and developments: BioSymetrics, Inc.