AI in Drug Discovery Market:
AI in Drug Discovery Market size was valued at USD 1163.16 Mn. in 2022 and the total market revenue is expected to grow by 29.5% from 2023 to 2029, reaching nearly USD 7104.46 Mn.
AI in Drug Discovery Market Report Overview:
The use of the Artificial Intelligence has been increasing in various sectors of Pharmaceutical Industry. AI models are used to determine relationship between the structural properties of chemical compounds and biological toxicity. AI is impacting drug discovery in new and previously unimaginable ways.Investors have largerly gravitated toward the hype throwing an un-precedented amount of funding toward Artificial Intelligence in Drug Discovery.
The research is based on forecasts from leading organizations and Nanozymes market statistics. It also includes sales growth figures, competitive landscape for the forecast period, and valuations of individual companies at the global, regional, and local levels.
AI in Drug Discovery Market Dynamics:
Novartis and Microsoft signed a multi-year strategic agreement in 2019 to use Microsoft’s AI algorithms on the enormous datasets used in pharma. The companies claimed that they intended to use picture analysis and generative techniques to create personalized medicine and enhance cell and gene therapy. In an effort to speed up and enhance the software’s capacity to predict molecules, Nvidia, a maker of graphics processing units that has been stepping up its AI efforts, teamed up with Schrödinger in April.The market for AI in drug discovery is being strongly driven by the aforementioned factors.
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AI in Drug Discovery Market Report Scope and Research Methodology:
The bottom-up approach has been used to estimate the global and regional AI in Drug Discovery market size. Primary and secondary research methods have been used to gather the data for the AI in Drug Discovery market report. The report also includes a SWOT analysis and Porter’s five forces analysis, which helps to understand buyer-supplier relations and the strengths and weaknesses of the AI in Drug Discovery key competitors in the industry. The AI in Drug Discovery market report provides comprehensive coverage of import/export consumption, supply and demand, price, revenue generated, market share, market penetration, sales volume, and gross margins. The report also provides an in-depth analysis of each industry manufacturing site, capacity, production, market price, sales revenue, and market share.
AI in Drug Discovery Market Regional Analysis:
The report provides a comprehensive analysis of the AI in Drug Discovery market across all regions, including Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. It examines the primary geographic conditions of the market, including all segments. The report also provides the current state of the regional AI in Drug Discovery market in terms of market size and share.
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AI in Drug Discovery Market Segmentation:
The AI in Drug Discovery Market is divided into Software and Services based on Offering. The services sector is predicted to have the largest CAGR between 2022 and 2029 and to hold the largest market share in the global AI in drug discovery services market in 2022. The benefits associated with AI services and the significant demand for AI services among end users are the primary factors driving the growth of this market segment.
AI in Drug Discovery Market Key Players:
1. GNS Healthcare (US)
2. BioSymetrics (US)
3. BPGbio, Inc (US)
4. Atomwise Inc (US)
5. Insitro (US)
6. NVIDIA Corporation (US)
7. IBM Corporation (US)
8. Microsoft Corporation (US)
9. Aria Pharmaceuticals, Inc. (US)
10. Insilico Medicine (US)
11. NuMedii, Inc. (US)
12. Owkin Inc. (US)
13. Schrödinger, Inc. (US)
14. DEEP GENOMICS (Canada)
15. Cyclica (Canada)
16. BenevolentAI (UK)
17. Exscientia (UK)
18. Iktos (France)
19. Euretos (Netherlands)
20. Evaxion Biotech A/S (Denmark)
21. XtalPi Inc (China)
22. Standigm (South Korea)
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Key Questions answered in the AI in Drug Discovery Market Report are:
What are the AI in Drug Discovery market segments?
What is the expected Market size by the end of the forecast period?
What is the expected CAGR of the AI in Drug Discovery market during the forecast period?
Which region held the largest market share in the AI in Drug Discovery Market?
What are the factors driving the AI in Drug Discovery Market?
What factors are affecting the AI in Drug Discovery market growth?
Who are the key players in the AI in Drug Discovery industry?
Key offerings:
Market Overview
Market Share
Market Size
Forecast |2023-2029
Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation- A detailed analysis of each segment and their segments
Competitive Landscape – Leading key players and other prominent key players.
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