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Artificial Intelligence (AI) in Drug Discovery Market Is Estimated To Grow With A CAGR of 41.0% from (2022-2029) Forecast
Artificial Intelligence (AI) in Drug Discovery Market
Data Bridge Market Research analyses that the artificial intelligence (AI) in drug discovery market is expected to reach the value of USD 7,818.93 million by 2029, at a CAGR of 41.0% during the forecast period. Artificial intelligence's expanded applications in a variety of areas of medicine discovery, including polypharmacology, chemical synthesis, drug screening, drug design, and drug repurposing, are expected to significantly boost market growth.
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Artificial Intelligence (AI) in Drug Discovery Market Report makes available major statistics on the market status of global and regional manufacturers and is a supportive source for companies and individuals interested in the Artificial Intelligence (AI) in Drug Discovery industry. Artificial Intelligence (AI) in Drug Discovery Market report has been structured after a thorough study of various key market segments like market size, share, growth, demand, latest trends, market threats and key drivers which drives the market. The careful efforts accompanied with integrated approaches gives an output of such excellent market research report that drives the decision making process of the business. This market report endows with a profound overview of product specification, technology, product type and production analysis by considering most important factors such as revenue, cost, and gross margin. With the large scale Artificial Intelligence (AI) in Drug Discovery report, businesses can successfully make decisions about business strategies to achieve maximum return on investment (ROI).
Top Manufacturers of Artificial Intelligence (AI) in Drug Discovery Market:
Microsoft
NVIDIA Corporation
IBM Corporation
Atomwise, Inc
DEEP GENOMICS
Cloud Pharmaceuticals, Inc
Insilico Medicine
BenevolentAI Ltd
Exscientia
Cyclica Inc
Numerate
NuMedii, Inc
Envisagenics
twoXAR, Incorporated
OWKIN, INC
XtalPi Inc
BERG LLC
Points Highlighted in the Report:
The report includes an overall business forecast that aims to gain valuable insights into the global Artificial Intelligence (AI) in Drug Discovery Market.
The main segments have been further classified into sub-segments for a detailed review and a deeper understanding of the industry.
The factors leading to market growth have been listed. The data has been collected from primary and secondary sources and analyzed by professionals in the field.
The study analyses the latest trends and company profiles of the major players in the market.
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Artificial Intelligence (AI) in Drug Discovery Market Dynamics
Drivers
Strategic collaborations and partnerships
The increasing number of cross-industry collaborations and partnerships will act as major driver influencing the market's growth rate.
Reduction in total time involved in drug discovery process
The increase in demand for decreasing overall time taken for the drug discovery process will increase the demand for artificial intelligence (AI) in drug discovery and further propel the market's growth rate. Animal models typically take three to five years to identify and improve compounds before they are tested in humans, whereas AI-based start-ups can identify and design new medications in a matter of days or months.
Furthermore, surging healthcare spending capacity and advancement in healthcare infrastructure are the major drivers that will enhance the growth of market. The surge in the utilization of artificial intelligence (AI) to efficiently study the drug activity will accelerate the demand for artificial intelligence (AI) in drug discovery market. Additionally, reduction in cost of drug discovery will act as major driver influencing the artificial intelligence (AI) in drug discovery market's growth rate. Another significant factor resulting in the expansion of market is the advancement of technology. Rapid urbanisation, and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of artificial intelligence (AI) in drug discovery market.
Opportunities
Rise in the investment for R&D
Continued…
Recent Development
In July 2021, Chief.AI, the machine learning operation platform had announced the launch of pay-as-you-go AI platform for drug discovery. This platform enables SMEs to gain access to cutting-edge technologies at a reasonable cost in order to reduce the hit-or-miss nature of drug discovery and identify breakthrough therapeutics with greater speed and precision.
Global Artificial Intelligence (AI) in Drug Discovery Market Scope
Offering
Software
Services
Technology
Machine Learning
Other Technologies
Drug Type
Small Molecule
Large Molecules
Application
Immuno-Oncology
Neurodegenerative Diseases
Cardiovascular Disease
Metabolic Diseases
Other Applications
End-User
Pharmaceutical and Biotechnology Companies
Contract Research Organizations
Research Centres and Academic
Government Institutes
By Geographical Regions
Asia Pacific: China, Japan, India, and Rest of Asia Pacific
Europe: Germany, the UK, France, and Rest of Europe
North America: The US, Mexico, and Canada
Latin America: Brazil and Rest of Latin America
Middle East & Africa: GCC Countries and Rest of Middle East & Africa.
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Artificial Intelligence (AI) in Drug Discovery Market Regional Analysis/Insights
The artificial intelligence (AI) in drug discovery market is analysed and market size insights and trends are provided by country, offering, technology, drug type, application and end user as referenced above.
North America dominates the artificial intelligence (AI) in drug discovery market because of the increasing investment in R&D and adoption of artificial intelligence (AI) technology in medicine discovery and development in this region. Additionally, strong presence of artificial intelligence (AI) technology providers such as IBM, Google, Microsoft and others will further propel the market's growth rate in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the surging level of investment for research and development activities in the region.
Table of Contents
Report Overview
Market Analysis by Types
Product Application Market
Manufacturers Profiles/Analysis
Market Performance for Manufacturers
Regions Market Performance for Manufacturers
Global COVID-19 Impact on Artificial Intelligence (AI) in Drug Discovery Market Performance (Sales Point)
Development Trend for Regions 9. Upstream Source, Technology and Cost
Channel Analysis
Consumer Analysis
Artificial Intelligence (AI) in Drug Discovery Market Forecast
Conclusion
Complete Report Along With TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-artificial-intelligence-ai-in-drug-discovery-market
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