The Artificial Intelligence (AI) In Drug Discovery by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence (AI) In Drug Discovery, The artificial intelligence (ai) in drug discovery market size has grown exponentially in recent years. It will grow from $1.37 billion in 2023 to $1.79 billion in 2024 at a compound annual growth rate (CAGR) of 30.8%. The growth in the historic period can be attributed to growth in emerging markets, the rising prevalence of chronic diseases, the increased adoption of artificial intelligence (ai) for cost efficient drug discovery and the increasing strict quality regulations for drug manufacturers.
The artificial intelligence (ai) in drug discovery market size is expected to see exponential growth in the next few years. It will grow to $4.71 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The growth in the forecast period can be attributed to the government support, the increasing healthcare expenditure and rising adoption of cloud-based applications and services. Major trends in the forecast period include integration of multi-omics data, use of ai in target selection, use of ai in drug screening, introduction of ai innovation labs, increasing investments and partnerships and collaborations.
The growing demand for personalized medicine is expected to propel the growth of the artificial intelligence (AI) in drug discovery market going forward. Personalized medicine refers to a type of medication that prevents, detects, or treats disease using knowledge about a person’s own genes or proteins. AI can play a crucial role in the development of personalized medicines at all relevant phases of clinical development and implementation of new personalized health products by finding appropriate intervention targets and testing intervention targets for their utility. For instance, according to the Personalized Medicine Coalition, a US-based professional membership organization, in 2022, the US Food and Drug Administration (FDA) approved 12 personalized medicines, which accounted for approximately 34% of all newly approved therapeutic molecular entities. Thus, the growing demand for personalized medicine is driving the growth of the artificial intelligence (AI) in drug discovery market.
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The artificial intelligence (ai) in drug discovery market covered in this report is segmented –
1) By Technology: Context-Aware Processing, Natural Language Processing, Querying Method, Deep Learning
2) By Drug Type: Small Molecules, Large Molecules
3) By Therapeutic Type: Metabolic Disease, Cardiovascular Disease, Oncology, Neurodegenerative Diseases, Anti-Infective Diseases, Respiratory Diseases, Other Therapeutics
4) By End User: Pharmaceutical Companies, Biopharmaceutical Companies, Academic And Research Institutes, Other End-Users
Major companies operating in the AI drug delivery market are adopting strategic collaborations to research and discover drugs using AI and are gaining significant popularity in the artificial intelligence in drug discovery market. For instance, in August 2022, Atomwise, a US-based artificial intelligence systems company, partnered with Sanofi. The partnership aimed at computationally identifying and investigating up to five pharmacological targets using the Atomwise AI-powered AtomNet technology. To find, create, and advance lead compounds for up to five Sanofi-exclusive targets, Atomwise received a $20 million upfront payment from Sanofi. Sanofi is a French pharmaceutical and healthcare company.
The artificial intelligence (ai) in drug discovery market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence (AI) In Drug Discovery Market Characteristics
3.Artificial Intelligence (AI) In Drug Discovery Market Trends And Strategies
4.Artificial Intelligence (AI) In Drug Discovery Market analysis
5.Artificial Intelligence (AI) In Drug Discovery Market Size And Growth
6.Artificial Intelligence (AI) In Drug Discovery Segmentation
7.Artificial Intelligence (AI) In Drug Discovery Regional And Country Analysis
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27. Artificial Intelligence (AI) In Drug Discovery Competitive Landscape And Company Profiles
28.Artificial Intelligence (AI) In Drug Discovery Key Mergers And Acquisitions
29.Artificial Intelligence (AI) In Drug Discovery Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- IBM Corporation
- Microsoft Corporation
- NVIDIA Corporation
- Exscientia
- Alphabet
- Atomwise Inc.
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