Table of Contents
1 Table of Contents 4
1.1 List of Tables 7
1.2 List of Figures 7
2 Overview of Artificial Intelligence Technologies 9
2.1 Current and Future Value of Global Artificial Intelligence Market 9
2.2 What is Artificial Intelligence? 9
2.2.1 Machine Learning 10
2.2.2 Algorithms 13
2.2.3 Data Sharing Platforms 13
2.2.4 Future Considerations 14
3 Artificial Intelligence in the Healthcare and Pharmaceutical Industries 15
3.1 Overview of Artificial Intelligence in the Pharmaceutical and Healthcare Industries 15
3.2 Services Benefitting From Artificial Intelligence Technologies within the Healthcare and Pharmamceutical Sectors 15
3.3 Key Objectives of Artificial Intelligence Technologies within Healthcare and Pharmaceuticals? 16
3.4 Key Stakeholders in the Funding and Provision of Artificial Intelligence Technologies 17
3.4.1 Payers 18
3.4.2 Financial intermediaries 18
3.4.3 Providers 18
3.4.4 Purchasers 19
3.4.5 Producers 19
3.4.6 Information Technology 19
3.5 Key Market Segments 19
3.5.1 Artificial Intelligence Technology Companies 20
3.5.2 Pharmaceutical and Medical Devices Industries 20
3.5.3 Healthcare Professionals and Providers 20
3.5.4 Regulatory Bodies 21
3.5.5 Consumers 21
3.6 How Prevalent is the Use of AI Technology by Healthcare Organizations? Industry Survey Results 22
4 Key Drivers and Restraints for Artificial Intelligence within the Healthcare and Pharmaceutical Sectors 24
4.1 Key Drivers in the Global Artificial Intelligence Healthcare and Pharmaceutical Markets – Industry Survey Results 24
4.1.1 Need for More Cost-Effective Methods in Drug Development and R&D 25
4.1.2 Increased Need to Demonstrate Value and Effectiveness of Therapies 26
4.1.3 Unmet Clinical Needs that Conventional Approaches Failed to Address 27
4.1.4 Increasing Processing Power and Decreasing Costs Associated with Artificial Intelligence Technology 28
4.1.5 Increasing Demand for Products and Services Due to an Ageing Population 29
4.1.6 Increased Need to Reduce the Imbalance between Healthcare Services and Patient Demand 29
4.1.7 Increased Need for Cross-Sector Partnerships 30
4.1.8 Other Important Growth Drivers in the Artificial Intelligence Market in 2018 31
4.2 Key Restraints in the Global Artificial Intelligence Healthcare and Pharmaceutical Markets – Industry Survey Results 32
4.2.1 Concerns Regarding Data Security and Privacy 33
4.2.2 Reluctance of Healthcare Practitioners to Adopt New Technologies 34
4.2.3 Unclear Regulatory and Legal Frameworks Surrounding the Use of Artificial Intelligence 35
4.2.4 Lack of Curated Healthcare Data and Associated Infrastructure 36
4.2.5 Shortage of IT Skills within the Healthcare Industry 36
4.2.6 Difficulty in Deployment of Artificial Intelligence Technologies 37
4.2.7 High Initial Capital Requirement 37
4.2.8 Patented Artificial Intelligence Technologies 38
5 Opportunities for Artificial Intelligence within the Healthcare and Pharmaceutical Industries 39
5.1 Current Roles of Artificial Intelligence in the Pharmaceutical and Healthcare Industries 39
5.2 Artificial Intelligence Opportunities in the Pharmaceutical Industry 41
5.2.1 Artificial Intelligence in Drug Discovery and Preclinical Development 42
5.2.2 Artificial Intelligence in Clinical Trials: Optimizing Study Design and Patient Recruitment 45
5.2.3 Opportunities for Artificial Intelligence beyond R&D: Pharmacovigilance, Manufacturing and Marketing 48
5.2.4 Concluding Remarks: Artificial Intelligence Benefits from Discovery to Marketing 50
5.3 Artificial Intelligence Opportunities in the Healthcare Industry 51
5.3.1 Personalized Medicine, Monitoring and Management 52
5.3.2 Diagnostics 54
5.3.3 Epidemiological Forecasting 56
5.3.4 Big Data 57
5.3.5 Concluding Remarks – Big Data May decide the Future of the Industry 57
6 Key Players and Strategic Consolidations within the Artificial Intelligence Healthcare and Pharmaceutial Landscape 59
6.1 Strategic Consolidations Landscape 59
6.1.1 Investment and Partnerships 59
6.1.2 Co-development Deals 59
6.1.3 Licensing Deals 63
6.1.4 Investors 64
6.2 The Company Landscape 65
6.2.1 Large Pharmaceutical Companies 65
6.2.2 Large Technology Firms with Vested Healthcare Interests 69
6.2.3 Artificial Intelligence Start-Ups 71
7 Conclusions and Future Outlook for AI Technologies 79
7.1 The Greatest Positive Impact will be Seen in Personalized Medicine in the Next Five Years 80
7.2 Some 67% of Survey Respondents are Likely to Increase their Investments within Artificial Intelligence Technologies in the Next Five Years 81
7.3 Which Regions Will Receive the Highest Investments in Artificial Intelligence in the Next Five Years? Industry Survey Results 82
7.4 What Are the Main Concerns for Companies Looking to Invest in Artificial Intelligence? Industry Survey Results 83
7.5 What Are the Regional Concerns for Companies Looking to Invest in Artificial Intelligence? Industry Survey Results 84
8 Appendix 86
8.1 GBI Industry Survey: Breakdown of Respondents by Industry 86
8.2 GBI Industry Survey: Breakdown of Respondents by Region 86
8.3 GBI Industry Survey: Proportion of Organizations that are Currently Involved with Artificial Intelligence Technologies 87
8.4 GBI Industry Survey: Most Important Factors Driving Growth in the Artificial Intelligence Market 87
8.5 GBI Industry Survey: Main Factors Restraining Growth in the Artificial Intelligence Market 88
8.6 GBI Industry Survey: Most Common Areas Where Artificial Intelligence Solutions are Used in the Pharmaceutical Industry 88
8.7 GBI Industry Survey: Most Common Areas Where Artificial Intelligence Solutions are Used in the Healthcare Industry 89
8.8 GBI Industry Survey: Areas of the Pharmaceutical Industry That Will See the Greatest Benefits from Artificial Intelligence Implementation 89
8.9 GBI Industry Survey: Areas of the Healthcare Industry That Will See the Greatest Benefits From Artificial Intelligence Implementation 90
8.10 GBI Industry Survey: The Area in which AI Technology Will Have the Greatest Positive Impact in the Healthcare Landscape over the Next Five Years 90
8.11 GBI Industry Survey: Likelihood of Organizations Involved with Artificial Intelligence Increasing Investments in the Sector (%), 2018-2023 91
8.12 GBI Industry Survey: Likelihood of Organizations Involved with Artificial Intelligence Increasing Investments in the Sector (%), 2018-2023, North American Panel vs. European Panel vs. Asian Panel 91
8.13 GBI Industry Survey: Main Concerns for Organizations When Investing in Artificial Intelligence Technologies, 2018-2023 92
8.14 GBI Industry Survey: Main Concerns for Organizations When Investing in Artificial Intelligence Technologies, North American Panel vs. European Panel vs. Asian Panel 92
8.15 References 93
8.16 Abbreviations List 103
8.17 Report Methodology 104
8.18 About GBI Research 104