Artificial Intelligence (AI) in Drug Discovery Market is Grow at a CAGR of 53.3% and is Expected to Reach the Value of USD 24,618.25 million by 2029

A Qualitative Research Study accomplished by Data Bridge Market research's database of 350 pages, titled as "Artificial Intelligence (AI) in Drug Discovery Market " with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy to understand detailed analysis.

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.

The adoption of AI solutions in the clinical trial process eliminates possible obstacles, reduces clinical trial cycle time and increases the productivity and accuracy of the clinical trial process. Technological advancements in AI for drug discovery and reduction in total time involved in drug discovery process are other factors driving the market growth in the forecast period. However, low quality and inconsistent available data will obstruct the market growth. Also, high cost associated with technology and technical limitations will restrain the market growth.

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.

Download the PDF Sample Report (Including FULL TOC, Graphs, and Tables) of this report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=Global-Artificial-Intelligence-AI-in-Drug-Discovery-Market&Shri

𝐓𝐇𝐀𝐍𝐊𝐒𝐆𝐈𝐕𝐈𝐍𝐆 𝐖𝐄𝐄𝐊 𝐒𝐀𝐋𝐄

𝐔𝐏𝐓𝐎 35%. 𝐎𝐅𝐅 𝐎𝐍 𝐆𝐋𝐎𝐁𝐀𝐋 𝐑𝐄𝐏𝐎𝐑𝐓𝐒.. 𝐎𝐅𝐅𝐄𝐑 𝐕𝐀𝐋𝐈𝐃 𝐓𝐈𝐋𝐋 30 𝐍𝐎𝐕 2022

Key Market Competitors Covered in the report

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

Global Artificial Intelligence (AI) in Drug Discovery Market Definition

AI has caught the attention and minds of medical technology practitioners in the past few years, as several companies and major research laboratories have worked to perfect these technologies for clinical use. The first commercialized demonstrations of how AI (also known as Deep Learning (DL), Machine Learning (ML), or Artificial Neural Networks (ANNs)) could assist clinicians are now available. These systems could lead to a paradigm shift in clinician workflow and increase productivity while simultaneously enhancing treatment and patient throughput. AI for drug discovery is a technology that uses machines to simulate human intelligence to solve complicated challenges in the drug development procedure. The adoption of AI solutions in the clinical trial process eliminates possible obstacles, reduces clinical trial cycle time and increases the productivity and accuracy of the clinical trial process. Therefore, the adoption of these advanced AI solutions in drug discovery processes is gaining popularity amongst life science industry stakeholders. In the pharmaceutical sector, it aids in the discovery of novel compounds, therapeutic target identification and the development of customized medications. 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. 

Global Artificial Intelligence (AI) in Drug Discovery Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail below:    

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.

Restraint

High cost associated with technology and technical limitations

The current healthcare sector is facing several complex challenges, such as the increased cost of drugs and therapies and society needs specific significant changes in this area. The entire success of AI depends on the availability of a substantial amount of data because these data are used for the subsequent training provided to the system. Access to data from various database providers can incur extra costs for a company. Clinical trials are directed towards establishing the safety and efficacy of a drug product in humans for a particular disease condition and require six to seven years along with a substantial financial investment. However, only one out of ten molecules entering these trials gain successful clearance, which is a massive loss for the industry. These failures can result from inappropriate patient selection, shortage of technical requirements and poor infrastructure. Thus, increasing costs with the technology is acting as a restraint for the market growth.

View Detailed Report@ https://www.databridgemarketresearch.com/reports/global-artificial-intelligence-ai-in-drug-discovery-market?Shri

Post-COVID-19 Impact on Global Artificial Intelligence (AI) in Drug Discovery Market

The COVID-19 outbreak had a beneficial impact on the expansion of AI in drug discovery industry due to its widespread use by various organizations for the identification as well as screening of existing medicines used in the treatment of COVID-19. AI is useful in detecting active chemicals for the prevention of SARS-CoV, HIV, SARS-CoV-2, influenza virus and others. During the pandemic, economies all over the world relied on AI-based medication discovery rather than traditional vaccine detection processes, which take years to create and are equally expensive, contributing to the growth of the market.

Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple R&D activities to improve the technology involved in the Wireless microphone. With this, the companies will bring advanced and accurate AI software to the market.

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.

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

Based on application, the market is segmented into 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 and others.

TECHNOLOGY

Machine Learning (ML)

Deep Learning (DL)

Natural Language Processing (NLP)

Others

Based on technology, the market is segmented into Machine Learning (ML), Deep Learning (DL), Natural Language Processing (NLP) and others.

DRUG TYPE

Small Molecule

Large Molecule

Based on drug type, the market is segmented into small molecule and large molecule.

OFFERING

Software

Services

Based on offering, the market is segmented into software and services.

INDICATION

Immuno-Oncology

Neurodegenerative Diseases

Cardiovascular Diseases

Metabolic Diseases

Others

Based on indication, the market is segmented into immuno-oncology, neurodegenerative diseases, cardiovascular diseases, metabolic diseases and others.

END USE

Pharmaceutical & Biotechnology Companies

Contract Research Organizations (CROs)

Research Centres And Academic Institutes

Others

The complete Report is available (Including the full TOC, Tables, and Figures, Graphs as well as Chart) @ https://www.databridgemarketresearch.com/toc/?dbmr=Global-Artificial-Intelligence-AI-in-Drug-Discovery-Market&Shri

Global Artificial Intelligence (AI) in Drug Discovery Market Regional Analysis/Insights

The global Artificial Intelligence (AI) in drug discovery market is analyzed and market size information is provided by application, technology, drug type, offering, indication and end use.

The countries covered in this market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, rest of Europe, China, Japan, India, South Korea, Singapore, Thailand, Malaysia, Australia & New Zealand, Philippines, Indonesia, rest of Asia-Pacific, U.A.E, Israel, South Africa, Saudi Arabia, Egypt, rest of Middle East and Africa, Brazil, Argentina and rest of South America.

North America is dominating the market. The increasing investment in R&D and adoption of AI technology in medicine discovery and development in the North America region over the past few years is expected to boost the market growth. The U.S. dominates North America region due to strong presence of AI technology providers such as IBM, Google, Microsoft and others.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Medical Display market

Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

https://www.databridgemarketresearch.com/reports/north-america-artificial-intelligence-ai-in-drug-discovery-market?Shri

https://www.databridgemarketresearch.com/reports/middle-east-and-africa-artificial-intelligence-ai-in-drug-discovery-market?Shri

https://www.databridgemarketresearch.com/reports/asia-pacific-artificial-intelligence-ai-in-drug-discovery-market?Shri

https://www.databridgemarketresearch.com/reports/europe-artificial-intelligence-ai-in-drug-discovery-market?Shri

About Data Bridge Market Research:

An absolute way to forecast what future holds is to comprehend the trend today!

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavours to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.

Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.

Contact Us:-
Data Bridge Market research
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475
Email:- corporatesales@databridgemarketresearch.com

This release was published on openPR.