Artificial Intelligence (AI) in Drug Discovery Market report contains detailed information on factors influencing opportunities, demand, growth, challenges, drivers, and restraints. It provides detailed information about the structure of global and regional industries. The report also includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Artificial Intelligence (AI) in Drug Discovery Market by region.
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. Software accounts for the largest technology segment in the market due to rapid developments in technological advancements to commercialize the use of AI in drug discovery market. This market report also covers pricing analysis, patent analysis and technological advancements in depth.
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Drivers
· Rise in incidence of chronic diseases propels need for AI in drug discovery
The incidence of chronic diseases is increasing at a rapid pace across the globe. According to the Centers for Disease Control and Prevention (CDC), six in 10 adults in the U.S. have a chronic disease. Furthermore, the CDC also highlights that chronic diseases such as heart disease and diabetes are the leading causes of death in the U.S. Such statistics shed light on the growing prevalence of chronic diseases and the need to bring down the fatality rate caused due to these diseases.
AI platforms used for drug discovery can prove to be a feasible option for deriving insights into the discovery of drugs to treat and minimize the severity of various chronic diseases. Thus, these factors are expected to act as a driver for the market growth during the forecast period.
· Strategic collaborations, partnerships and products launch
AI has the potential to transform drug discovery by rapidly accelerating the R&D timeline, making drug development cheaper and faster and improving the probability of approval. AI can also increase the effectiveness of drug repurposing research.
An increase in cross-industry alliances and collaborations drives the market. Rise in relevance of AI in drug discovery & development and a surge in funding for R&D activities, including AI technology in the field of drug research, are projected to propel the global market growth. Hence, increase in cross-industry collaborations and partnerships is driving the market.
Top Players Analysed in the Report are:
NVIDIA Corporation, IBM Corp., Atomwise Inc., Microsoft, Benevolent AI, Aria Pharmaceuticals, Inc., DEEP GENOMICS, Exscientia, Cloud, Insilico Medicine, Cyclica, NuMedii, Inc., Envisagenics, Owkin Inc., BERG LLC, Schrödinger, Inc., XtalPi Inc. and BIOAGE Inc
Recent Developments
· In March 2022, NVIDIA Corporation launched Clara Holoscan MGX to develop and deploy real-time AI applications. Clara Holoscan MGX expands the Clara Holoscan platform to provide an all-in-one, medical-grade reference architecture, as well as long-term software support, to accelerate innovation in the medical device industry. This will help the company for better AI performance in health sector for surgery, diagnostics and drug discovery.
· In May 2022, Benevolent AI, a leading clinical-stage AI-enabled drug discovery company, announced that AstraZeneca has selected an additional novel target for Idiopathic Pulmonary Fibrosis (IPF) for its drug development portfolio, resulting in a milestone payment to Benevolent AI. This is the third novel target from the collaboration that has been identified using the Benevolent Platform across two disease areas, IPF and chronic kidney disease and subsequently validated and selected for portfolio entry by AstraZeneca. This builds upon the recent extension of the collaboration with AstraZeneca to include two new disease areas, systemic lupus erythematosus and heart failure, signed in January 2022. This has helped the company to make its collaboration stronger.
Geographic Segment Covered in the Report:
• North America (the USA and Canada)
• Europe (UK, France, Germany, and the rest of Europe)
• Asia Pacific (China, India, Japan, and the rest of the Asia Pacific)
• Latin America (Mexico, Brazil, and the rest of Latin America)
• The Middle East and Africa (GCC and rest of the Middle East and Africa)
Key Pointers in TOC of Artificial Intelligence (AI) in Drug Discovery Market Report:
Sections 1: Definition, Specifications and Classification of Global Artificial Intelligence (AI) in Drug Discovery Market, Applications of Artificial Intelligence (AI) in Drug Discovery, Market Segment by Regions
Sections 2: Technical Data and Manufacturing Analysis of Artificial Intelligence (AI) in Drug Discovery, Capacity and R&D Status and Technology Source, Raw Materials Sources Analysis
Sections 3: Market Analysis, Sales Examination, sales Value Investigation
Sections 4: Regional Market Investigation that incorporates North America, Europe, Asia Pacific, Latin America, Middle East & Africa Market Examination
Sections 5: The Artificial Intelligence (AI) in Drug Discovery Segment Market Analysis (by Application), Major Manufacturers Analysis of Artificial Intelligence (AI) in Drug Discovery
Sections 6: Market Trend Analysis, Regional Market Trend, Market Trend by Product Type
Sections 7: Regional Promoting Type Investigation, Inventory network Investigation
Sections 8: The Customers Examination of global Artificial Intelligence (AI) in Drug Discovery Market
Sections 9: Artificial Intelligence (AI) in Drug Discovery Research Findings and Conclusion, Appendix, and information source
Sections 10: Artificial Intelligence (AI) in Drug Discovery deals channel, wholesalers, merchants, traders, Exploration Discoveries and End, appendix and data source.
Continued.....
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Global Artificial Intelligence (AI) In Drug Discovery Market Scope
Global Artificial Intelligence (AI) in drug discovery market is segmented into application, technology, drug type, offering, indication and end use. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
APPLICATION
· Novel Drug Candidates
· Drug Optimization 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
· Others
TECHNOLOGY
· Machine Learning (ML)
· Deep Learning (DL)
· Natural Language Processing (NLP)
· Others
DRUG TYPE
· Small Molecule
· Large Molecule
OFFERING
· Software
· Services
INDICATION
· Immuno-Oncology
· Neurodegenerative Diseases
· Cardiovascular Diseases
· Metabolic Diseases
· Others
END USE
· Pharmaceutical & Biotechnology Companies
· Contract Research Organizations (CROs)
· Research Centres And Academic Institutes
· Others
Key Questions Answered with this Study
· What makes Artificial Intelligence (AI) in Drug Discovery Market feasible for long-term investment?
· Know value chain areas where players can create value in this market?
· What geographic region would have better demand for products or services?
· How are the influencing factors driving the demand of Artificial Intelligence (AI) in Drug Discovery in the next few years?
· What is the impact of various factors in the Global Artificial Intelligence (AI) in Drug Discovery market growth?
· What strategies of big players help them acquire a share in a grown-up market?
· How Technology and Customer-Centric Innovation is bringing big Change in Artificial Intelligence (AI) in Drug Discovery Market?
· What are the drivers and restraints of the Artificial Intelligence (AI) in Drug Discovery market?
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