AI in Drug Discovery Market 2021 Segmented by Product, Application, Key Players and Regional Analysis to 2027 | IBM Corporation, Microsoft Corporation, Google, NVIDIA Corporation, Cloud Pharmaceuticals, Inc., Indivumed GmbH, Deep Genomics, Atomwise, Inc.,

Astute Analytica published a new report on the AI in Drug Discovery Market. The research report comprehends the present status of competitive market conditions, which helps firms to make the necessary decisions for growth or profitability with ease.

The AI in Drug Discovery Market is expected to grow with a CAGR of 40% during the forecast period 2021-2027.

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This report also formulates a survey addressing small variables applicable specifically to new applicants as well as major concerns impacting all players in this field generally.

Leading Players
Several key players are involved in the market are IBM Corporation, Microsoft Corporation, Google, NVIDIA Corporation, Cloud Pharmaceuticals, Inc., Indivumed GmbH, Deep Genomics, Atomwise, Inc., Insilico Medicine, Exscientia, Bioage, and Envisagenics, among others.

The healthcare sector is one of the most lucrative globally. Higher-quality general healthcare, an increase in life expectancy, and increased interest in business since the pandemic's start are projected to improve spending and industry growth in the years to come. As a result, the healthcare industry's revenue in 2023 is predicted to be US$ 73.90 billion.

For instance, contactless and virtual services are now commonplace. A focus on equitable care, an increase in new healthcare investments, and changes in the labor force have all occurred in recent years.

Thus, these factors will bring new opportunities and difficulties. New digital tools will influence how care is delivered, how money is paid for it, and how health data are kept in the future as the healthcare landscape changes. Innovation, consolidation, and optimization will all continue to be fueled by capital entering the market.

In recent years, the global health business has experienced exponential growth, with the US setting the pace. The rise of the aging population, also known as the older population increase in sociology, was blamed for industry expansion. Most patients or those who receive services from the global health industry today are women.

By 2031, the global healthcare market will be worth $675.37 billion. Additionally, according to the Centers for Medicare and Medicaid Services, national healthcare spending in the US reached US$ 4.3 trillion in 2021, or US$ 12,914 per person, and is projected to rise to US$ 6.2 trillion by 2028.

The Commonwealth Fund estimates that the US spent close to 16.8% of its GDP on healthcare in 2019. Switzerland spent 11.3% more than Germany, which came in second place with a spending of 11.7%.

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Segmentation Overview

By Offering:
Software
Service

By Technology:
Machine Learning
Deep Learning
Supervised Learning
Reinforcement Learning
Unsupervised Learning
Other Machine Learning Technologies
Others Technologies

By Application:
Drug optimization and repurposing
Preclinical testing
Others

By Therapeutic Area:
Cardiovascular Disease
Infectious Disease
Metabolic Diseases
Neurodegenerative Diseases
Oncology
Others

By End-User:
Contract Research Organizations
Pharmaceutical & Biotechnology Companies
Research Centres and Academic & Government Institutes

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About Astute Analytica:

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This release was published on openPR.