Global Pharma 4.0 Market

Global Pharma 4.0 Market to Hit $54.43 Billion by 2031 at 18.3% CAGR: Coherent Market Insights

BURLINGAME, Calif, Jan. 15, 2024 ./PRNewswire/ -- Coherent Market Insights has recently published a report, titled, Global Pharma 4.0 Market, By Component (Hardware, Software, and Services), By Technology (Cloud Computing, Artificial Intelligence, Big Data Analytics, and Internet of Things), By Application (Research and Development, Manufacturing, Supply Chain Management, and Others), By End User ): Global Opportunity Analysis and Industry Forecast, 2024-2031". According to the report, the global artificial intelligence in oncology market generated $16.75billion in 2023, and is anticipated to generate $54.43 billion by 2031, witnessing a CAGR of 18.3% from 2024 to 2031.

...

Market Key Takeaways:

The global pharma 4.0 market is expected to exhibit a CAGR of 18.3% during the forecast period. Market players are adopting strategies such as technology launches, which in turn are expected to fuel market growth over the forecast period. For instance, on May 16, 2023, Google Cloud, a software company, announced that it had launched two new AI-powered solutions that aim to help biotech and pharmaceutical companies accelerate drug discovery and advance precision medicine.

Among technology, artificial intelligence is expected to be the dominant segment in the global pharma 4.0 market due to the increasing launches of new products by market players. For instance, on November 28, 2023, Koninklijke Philips N.V., a healthcare company, launched  a helium-free mobile magnetic resonance imaging system, BlueSeal MR Mobile, which is designed to enhance diagnostic imaging and requires only seven liters of liquid helium, offering cost and up-time advantages. The company introduced HealthSuite Imaging, an artificial intelligence (AI)-enabled cloud-based picture archiving and communication system, which offers high-speed remote diagnostic reading, integrated reporting and AI-powered workflow orchestration, thereby enhancing operational efficiency and patient care.

Major players operating in the global pharma 4.0 market include Oracle,GE Healthcare, Optum, Inc., Honeywell International Inc., IBM Corporation, Cisco Systems, Inc., Siemens Healthcare GmbH, POLARISqb, Google Cloud, Optibrium, Syntekabio, Fujitsu Limited, SAS Health, Microsoft and Lotte Healthcare

Market Key Developments:

On September 27, 2023, SAS Health, the healthcare company, announced that it had launched a new analytical healthcare platform that will simplify health data and management, improve data governance, and accelerate patient insights. The end-to-end enterprise solution for analytics and data automation will provides health providers, insurers, and public health agencies with the flexibility and speed needed to drive health innovations that can improve patient experience and outcomes.

In May 2020, Microsoft, a software company, announced the launch of a cloud service designed specifically for healthcare, the first of many industry-specific cloud offerings. The cloud service will focus on what Microsoft has identified as important needs in healthcare, such as patient engagement, health team collaboration, and improving operational efficiencies.

...

https://www.prnewswire.co.uk/news-releas...34736.html