Data Bridge Market Research analyzes that the global Artificial Intelligence (AI) in drug discovery market is expected to reach the value of USD 24,618.25 million by 2029, at a CAGR of 53.3% during the forecast period.
While preparing this professional and exhaustive ARTIFICIAL INTELLIGENCE (AI) IN DRUG DISCOVERY market research report, customer requirement has been kept into focus. Market type, size of the organization, availability on-premises, end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa are considered while generating this report. A team of industry experts, talented researchers, innovative forecasters and knowledgeable analysts work with full dedication to endow clients with the quality research. Global ARTIFICIAL INTELLIGENCE (AI) IN DRUG DISCOVERY report also offers the details about the market drivers and market restraints for ABC industry that help in understanding rise or fall of the demand of particular product with respect to market conditions.
The information and analysis covered in the large scale ARTIFICIAL INTELLIGENCE (AI) IN DRUG DISCOVERY report brings into light the types of consumers, their preferences about the product, their buying intentions and their ideas for the step up of a product. Strategic aspects of the industry or market including product development and specification, technology, exploring niche growth opportunities, application modelling, and new geographical markets can be resolved with the huge information and data included in this market report. The ARTIFICIAL INTELLIGENCE (AI) IN DRUG DISCOVERY marketing report assists in determining and optimizing each stage in the lifecycle of industrial process that includes engagement, acquisition, retention, and monetization.
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Artificial Intelligence (AI) in Drug Discovery Market Analysis and Insights
Artificial Intelligence (AI) is expected to be a lucrative technology in the healthcare industry. The implementation of AI reduces R&D gap in the drug manufacturing process and helps in targeted manufacturing of drug. Hence, biopharmaceutical companies are turning to AI to enhance their market share. AI for drug discovery is a technology that uses machines to simulate human intelligence to solve complicated challenges in the drug development procedure.
Increase in the incidence of chronic diseases is expected to drive the market's growth rate
The incidence of chronic diseases is growing at a rapid pace all over the globe. According to the Centers for Disease Control and Prevention (CDC) analysis, six in ten adults have a chronic disease in the U.S. Moreover, the CDC also highlights that the chronic diseases such as diabetes and heart disease are the major causes of death in the U.S. Such statistics shed light on the increasing prevalence of chronic diseases and the necessity to bring down the fatality rate which has caused due to these chronic diseases.
Global Artificial Intelligence (AI) in Drug Discovery Market Share Analysis
Global Artificial Intelligence (AI) in drug discovery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus on the global Artificial Intelligence (AI) in drug discovery market.
Segment Analysis:
The artificial intelligence (AI) in drug discovery market is segmented on the basis of application, technology, offering, indication and end user.
- On the basis of application, the market is segmented into novel drug candidates, drug optimisation and repurposing preclinical testing and approval, drug monitoring, finding new diseases associated targets and pathways, understanding disease mechanisms, aggregating and synthesizing information, formation & qualification of hypotheses, de novo drug design, finding drug targets of an old drug, and others. In 2022, the novel drug candidates segment is expected to dominate the market with a market share of 26.25%
- On the basis of technology, the market is segmented into Machine Learning (ML), Deep Learning (DL), Natural Language Processing (NLP), and others.
Key Players
- Some of the key players operating in the market are NVIDIA Corporation
- IBM Corp.
- Atomwise Inc.
- Microsoft
- Benevolent AI
- Aria Pharmaceuticals
- DEEP GENOMICS
- Exscientia
- Cloud
- Insilico Medicine
- Cyclica
- NuMedii
- Envisagenics
- Owkin Inc.
- BERG LLC
- Schrödinger
- XtalPi Inc. and BIOAGE Inc. among others.
Market Development
- In July 2020, IBM acquired WDG Automation to increase the capabilities of AI-Infused Automation for Enterprises. This acquisition improves IBM's comprehensive AI-infused automation capabilities and spanning business processes to IT operations
- In January 2021, Nucleai, provider of biomarkers-based therapy, signed a collaboration contract with the Debiopharm Pharma Company, a drug development pioneer. According to this agreement, Debiopharm Pharma Company will use Nucleai's artificial intelligence (AI) platform for its pipeline of oncology drug candidates
- In July 2021, the machine learning operation platform Chief.AI, announced the launch of pay-as-you-go AI platform for drug discovery. This platform allows SMEs to gain access to cutting-edge technologies at an affordable price to identify breakthrough therapeutics with greater precision and speed and decrease the hit-or-miss nature of drug discovery
- On September 5, 2020, Atomwise increased USD 123M in a round B financing which is led by Sanabil and B Capital Group Investments, including Y Combinator, Dolby Family Ventures, DCVC, BV, Tencent, AME Cloud Ventures, and 2 top insurance companies. This investment will be used to extend the market, start the company's drug discovery pipeline and develop new partnerships with the pharmaceutical companies
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MAJOR TOC OF THE REPORT
- Chapter One: Introduction
- Chapter Two: Market Segmentation
- Chapter Three: Market Overview
- Chapter Four: Executive Summary
- Chapter Five: Premium Insights
- Chapter Six: Artificial Intelligence (AI) in drug discovery market
QUESTIONS answered in the report
What is the future value of the Market?
What is the growth rate of the Market?
What is the technology segment?
What is the application segment?
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