AI in Drug Discovery Market Overview:
AI in Drug Discovery Market was estimated to be worth $0.8 billion in US dollars in 2021. The market is expected to develop at a 40 percent compound annual growth rate (CAGR) to reach US$ 9 billion by 2031, according to AMR Group’s projections.
The process of finding new drugs is greatly aided by artificial intelligence, which is contributing to the pharmaceutical industry’s expansion. The process of finding and developing new drugs takes a lot of money and time. But this can be resolved with artificial intelligence’s assistance. Artificial intelligence systems are being rapidly implemented by pharmaceutical corporations to use data on genes, polymorphisms, receptor targets, illness occurrences, and clinical studies in order to create drug-disease connections.
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Growth Factors:
The growing desire to reduce the total amount of time anticipated for the drug disclosure cycle will increase the need for artificial intelligence (AI) in drug disclosure, accelerating the market’s growth rate significantly. Before a molecule is evaluated in humans, animal models typically take three to five years to discover and refine; in contrast, artificial intelligence-driven start-ups may discover and develop innovative drugs in a matter of days or weeks. Furthermore, growing health care spending caps and advancements in health care infrastructure would be important forces behind industry expansion.
This made up to the advancement of computerized reasoning (AI) in the medication disclosure market. During the pandemic, economies around the world relied on human intelligence based prescription revelation instead of traditional immunization location processes, which are costly and take a long time to design. Man-made consciousness (AI) will become more popular in the pharmaceutical sector as a result of the increased application of AI to efficiently investigate pharmacological activity.
Market Trends:
Research, clinical, and business levels are all where the pharmaceutical industry functions. The advent of data and artificial intelligence technologies, innovative computational tools, and infrastructure solutions is redefining these operational segments.
Finding novel drug targets is a crucial first step in the development of novel first-in-class therapeutic medicines in drug discovery research. This stage of the drug discovery process is often completed by employing a ligand molecule that modifies particular proteins to form appropriate pockets for target identification. AI-based novel computational methods find new drug gable protein spots at scale and occasionally produce virtual screens across the proteome.
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Market Segments:
By Drug Type
- Small Molecule
- Large Molecule
By Indication
- Immuno-Oncology
- Neurodegenerative Diseases
- Cardiovascular Diseases
- Metabolic Diseases
By Component
- Software
- Hardware
- Services
By 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
By Technology
- Machine Learning (ML)
- Deep Learning (DL)
- Natural Language Processing (NLP)
By End User
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
- Research Centres and Academic Institutes
- Market Regional Analysis:
Market Regional Analysis:
The North American, Latin American, Asia Pacific, European, and Middle Eastern and African markets are the geographical segments that make up the worldwide AI in drug discovery market. With a share of 53% in the global market for AI in drug discovery in 2021, North America is leading the way.
Additionally, Asia Pacific is anticipated to have the greatest CAGR during the course of the projection. The establishment of AI in drug discovery facilities is being fuelled by partnerships and collaborations across the countries in the Asia-Pacific region.
expanding awareness campaigns in support of more R&D spending. The increasing number of people living in nations like China and India, along with the rise in chronic disease incidence, necessitates the usage of artificial intelligence (AI) in drug research products. The Asia Pacific region’s growing geriatric population is another factor driving market expansion.
Key Market Players:
Alphabet (DeepMind), Aria Pharmaceuticals, Inc., Atomies Inc., Benevolent AI, BERG LLC, BIOAGE Inc., Bisymmetric, Cloud, Cyclical, DEEP GENOMICS, Envisagenics, Egrets, Exscientia, GNS Healthcare, IBM Corp., Insilco Medicine, Insert, Microsoft, Numidian, Inc., NVIDIA Corporation, Woking Inc., Schrödinger, Inc., and Tulip Inc. among others.
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