AI in Drug Discovery Market Forecast Report, 2021 - 2031
AI in Drug Discovery Market Forecast Report, 2021 - 2031
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AI in Drug Discovery Market (Offering: Software and Services; Application: Oncology, Infectious Diseases, Neurological Disorders, Rare Diseases, Metabolic Diseases, Cardiovascular Diseases, and Others; Technology: Machine Learning and Other Technologies; Drug Type: Small Molecules and Large Molecules; and End User: pharmaceutical & biotechnology companies, contract research organizations, academics & research, and others) ???
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REPORT PREVIEW
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As many nations fight to contain the deadly virus, rapid drug discovery for COVID-19 could be very helpful. Lockdowns and strong limits on people's freedom of movement have had a negative effect, leading to significant losses for businesses in the AI in drug discovery sector. However, it could be beneficial in many ways if the right treatment is discovered for COVID-19 sufferers. Over 17 known medications to lessen corona virus infection in cells have been identified by a University of Michigan research team using an AI-powered picture. Such strategies and tactics ultimately contribute to the expansion of the AI in drug discovery industry by revealing the effectiveness of currently available medications against COVID-19.????????????????
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The Need for AI in Drug Discovery is Driven by the Rise in Chronic Diseases
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The number of individuals suffering from chronic illnesses is on the rise worldwide. The Centers for Disease Control and Prevention report that 60% of American adults have at least one chronic condition, and 40% have two or more. Additionally, the CDC states that chronic diseases such as heart disease and diabetes are the primary causes of death in the United States. These figures emphasize the growing prevalence of chronic diseases and the need to decrease the mortality rate associated with them
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Artificial Intelligence (AI) based tools used in the field of drug discovery can provide valuable insights that can aid in the development of treatments for chronic illnesses. As a result, the market for AI in drug discovery is expected to experience significant growth from 2021-2031.???????????????????????
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Significant Influence of Oncology on Market Expansion
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The use of Artificial Intelligence (AI) in oncology is expected to provide significant growth opportunities. AI can assist in understanding the mechanism of drug resistance in cancer cells and aid in the development of new drugs and strategies for drug use. Machine learning, a type of AI technology, can accelerate current research in the field of anticancer drugs. One example of this is Paige's, an AI diagnostic technology start-up, which uses machine learning to aid pathologists in making accurate cancer diagnoses by analyzing tissue samples. These advancements are likely to drive the growth of the AI in drug discovery market
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Rising Adoption of Mindful AI to Present Breakthrough Opportunities
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Mindful AI, a human-centered and responsible approach to developing drugs, is quickly gaining popularity as an ideal solution in the pharmaceutical industry. Mindful AI is a method of creating AI-based technologies that take into account the intended use of the technology. By using Mindful AI, pharmaceutical companies can not only speed up drug development but also ensure that the drugs are effective for a wide range of patients. As a result, the increasing adoption of Mindful AI in the pharmaceutical industry is expected to provide significant growth opportunities, driving the overall AI in drug discovery market
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Advancements in Treatment of Neurological Diseases to Open Profitable Avenues
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The advancements in the treatment of neurological diseases are expected to create profitable opportunities in the AI in drug discovery market. The use of AI in treating neurological disorders could offer a wide range of growth opportunities. Pharmaceutical companies are collaborating to explore new solutions for neurological diseases. For example, PharmEnable, a U.K.-based drug discovery company, and Sosei, a Japan-based firm, are working together to use Sosei's Heprares CPCR-focused drug design platform and PharmEnable's AI technologies to discover new drug leads. These developments are expected to contribute to the substantial growth of the AI in drug discovery market
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Consultant point of view?
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According to analysts, the AI in drug discovery market is projected to grow at a CAGR of 36.1% during the forecast period of 2021-2031, crossing US$10.93 billion by 2031. The[SS1]?[SS2]? increasing cases of chronic diseases, particularly cardiovascular disorders and diabetes, are driving the need for AI in drug discovery platforms. In addition, the use of AI in treating neurological disorders will further increase the growth rate. Companies in the AI in drug discovery market should focus on using Mindful AI to design and develop effective drug discovery platforms, and the advancements made by AI in finding related to COVID-19 are also expected to witness significant growth
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AI in Drug Discovery Market: Overview
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l? In recent years, Artificial Intelligence (AI) has become a topic of interest among medical technology professionals, with various companies and research labs working to refine these technologies for clinical use. The first commercial examples of how AI, also known as deep learning, machine learning, or artificial neural networks, can assist clinicians are now available. These systems have the potential to transform the way clinicians work, improve productivity, and enhance the quality of treatment and patient care?????
l? The use of Artificial Intelligence in healthcare is rapidly growing, and with its limitless potential, many major companies are investing in healthcare applications. The integration of AI and machine learning tools in drug discovery and development can improve healthcare outcomes by increasing efficiency in drug discovery, aiding in the identification of targeted molecules, reducing the time needed for drug discovery and importantly, lowering the costs of drug development for manufacturers
l? Additionally, many pharmaceutical companies and entrepreneurs globally are initiating projects and investing in the development of AI and machine learning technologies to enhance drug discovery and improve outcomes in drug development?????????
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AI in Drug Discovery: Market Drivers
l? The global AI in drug discovery market is driven by several factors such as:
l? The rise in cross-industry alliances and collaborations
l? The growing importance of AI in drug discovery and development
l? Increased funding for R&D activities, including AI technology in the field of drug research
l? Examples of such collaborations and partnerships include:
l? In July 2020, IBM made an acquisition of WDG Automation to enhance its AI-infused automation capabilities for businesses. This acquisition expands IBM's comprehensive capabilities in AI-infused automation, covering both business processes and IT operations
l? Artificial intelligence (AI) drug discovery firm, Exscientia, expanded its ongoing partnership for anti-viral drugs with the U.K.'s national synchrotron facility, Diamond Light Source, and the University of Oxford, to include California-based Scripps Research's Calibr and target COVID-19 research
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l? In January 2021, Nucleai, a U.S-based provider of biomarker-based therapy, entered into a partnership with Debiopharm Pharma Company, a leading company in drug development. As per the terms of the agreement, Debiopharm Pharma Company will use Nucleai's AI platform for its pipeline of oncology drug candidates
l? Therefore, the growth of global AI in drug development market is driven by the increase in cross-industry collaborations and partnerships
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·?????? Market Segmentation: AI in Drug Discovery Market????
·?????? The global AI in drug discovery market is segmented by drug type, application, end user, offering, and technology.
·?????? In terms of drug type, the market is divided into large molecules and small molecules
·?????? By application, the market is classified into oncology, infectious diseases, neurological disorders, rare diseases, metabolic diseases, cardiovascular diseases, and others
·?????? In terms of end user, the market is segmented into pharmaceutical & biotechnology companies, contract research organizations, academics & research, and others
·?????? By offering, the market is split into software and services
·?????? In terms of technology, the market is segmented into machine learning and other technologies
·?????? Each of these segments have been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The AI in drug discovery market report provides current and expected revenue (US$ Mn) for each of these segments from 2021 to 2031, considering 2020 as the base year. The compound annual growth rate (percentage CAGR) has been provided for each segment and market from 2021 to 2031 along with market size estimations
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Regional Overview: AI in Drug Discovery Market
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The global AI in drug discovery market is segmented by region, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, which have been further divided into major countries and sub-regions
North America is expected to hold the largest share of the global AI in drug discovery market, due to the region's advanced technology and early adoption of latest technologies. High awareness about AI in drug discovery among key players in the region is also driving the market's growth
The report provides the current and expected market revenue (US$ Mn) of these regional markets and their major countries from 2021 to 2031, with their CAGRs from 2021 to 2031
The study also offers a list of recommendations, highlights, and useful insights of the global AI in drug discovery market, which can help new companies entering the market and existing companies to increase market shares and in the decision-making process
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Major Players ???
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l? The AI in drug discovery market report concludes with the company profiles section, which includes key information about major players in the global AI in drug discovery market
l? Leading players analyzed in the report include
l? Exscientia
l? GNS Healthcare
l? Cloud Pharmaceuticals, Inc.
l? Benevolent AI
l? PathAI, Inc.
l? Berg Health
l? Atomwise
l? Insitro
l? Cyclica
l? IBM
l? Nucleai
l? Wuxi AppTec
l? BlackThorn Therapeutics
l? Insilico Medicine
l? Notable Labs
l? Numerate?
l? Standigm
l? Recursion Pharmaceuticals
l? BioSymetrics
l? The AI in drug discovery market report includes profiles of the major players in the market based on key parameters such as company overview, financial overview, business strategies, application portfolio, business segments, and recent developments
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AI in Drug Discovery Market – Segmentation ?????
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UMR's study on the AI in drug discovery market includes information segmented into six categories: offering, technology, drug type, application, end user, and region. The report covers in-depth analysis of evolving industry trends and key market dynamics related to these segments of the global AI in drug discovery market????
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What is the total market value of the Global AI in Drug Discovery market report?
The Global AI in Drug Discovery market was valued at $7,423.9 million in 2020, and is expected to reach $12,808.9 million by 2030, registering a CAGR of 5.5% from 2021 to 2030???? ???????????????
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What would be the forecast period in the Global AI in Drug Discovery market report?
?The forecast period considered for the Global AI in Drug Discovery market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
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Which top companies hold the market share in the Global AI in Drug Discovery market report?
?The top companies holding the market share in the Global AI in Drug Discovery market report include Exscientia, GNS Healthcare, Cloud Pharmaceuticals, Inc. ,Benevolent AI, PathAI, Inc., Berg Health, Atomwise, Insitro, Cyclica, IBM, Nucleai , Wuxi AppTec, BlackThorn Therapeutics, Insilico Medicine, Notable Labs and others??? ???
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