Artificial Intelligence
Artificial Intelligence in Drug Discovery Market Size Worth USD 8.9 Billion by 2030 at 24.9% CAGR – Report by Market Research Future (MRFR)
New York, USA, Nov. 09, 2022 (GLOBE NEWSWIRE) — Artificial Intelligence in Drug Discovery Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Artificial Intelligence in Drug Discovery Market Information By Product Type, Molecule Type, Technology, Indication, Application – Forecast till 2030”, the market is expected to hold a value of about USD 8.9 Billion by 2030, and it is projected to register a CAGR of 24.9% from 2022 to 2030.
Market Scope:
Artificial intelligence refers to the replication of the human intelligence processes using machines, particularly computer systems. Certain applications of AI are natural language processing, expert systems, machine vision, and speech recognition.
Several companies and significant research hospitals have been working on developing these systems for clinical application over the past couple of years, capturing the enthusiasm and attention of medical industry specialists. Artificial intelligence (also known as deep learning, machine learning, or artificial neural networks) is currently seeing its first commercial applications in the medical field. A potential paradigm change in clinician workflow, these devices have the potential to enhance efficiency while also enhancing care and patient throughput.
In general, AI works by ingesting huge volumes of labeled training data, assessing the data for patterns and correlations, and utilizing these patterns to predict future states. Like this, a chatbot being fed a series of text chats is able to learn to generate lifelike exchanges with consumers. Similarly, an image recognition tool is able to learn to detect and describe different objects in images by assessing multiple examples.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 8.9 Billion |
| CAGR | 24.9% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Molecule Type, Technology, Indication, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | An increasing number of startups operating in the AI spectrum for healthcare including drug discovery |
| Increased use of AI technology by major pharma companies for drug discovery |
Artificial Intelligence in Drug Discovery Market Competitive Outlook:
Key Players of the market are
- Microsoft Corporation
- IBM Corporation
- Google (A Subsidiary of Alphabet Inc.)
- Atomwise, Inc.
- Deep Genomics
- Cloud Pharmaceuticals, Inc.
- Insilico Medicine
- BenevolentAI
- Exscientia
- Cyclica
- Bioage
- Numerate
- Numedii, Inc.
- Envisagenics
- Twoxar, Incorporated
- Owkin, Inc.
- Xtalpi, Inc.
- Verge Genomics
- Berg LLC
Artificial Intelligence in Drug Discovery Market Dynamics:
Market Drivers
Healthcare applications of artificial intelligence are thriving thanks to the numerous potential presented by this cutting-edge technology. Consequently, many large corporations are investing heavily in this sector. Tech giants like IBM’s Watson, Alphabet (Google’s parent company), and Philips are all betting big on AI in healthcare. In addition, several pharmaceutical firms and a growing number of startups across the globe are actively pursuing and investing in the creation of AI & machine learning tools to enhance drug discovery and boost the success rate of drug development.
The use of AI in healthcare is still in its infancy, and its incorporation into the field is still at a nascent stage. Given the vast opportunities that AI presents in healthcare, an increasing number of businesses are investing in research and development of AI-based solutions in this area.
Market Restraints
Over the forecast time period, the market is likely to be hampered by the high cost of integrating AI and the lack of suitable infrastructure in low economic countries.
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COVID-19 Analysis:
Drug companies have been quick to incorporate AI-powered solutions in clinical trial research and increase medicinal development in response to the ongoing Covid-19 pandemic, which has placed a strain on existing healthcare systems and increased the demand for novel drug remedies. Artificial intelligence (AI) and associated technologies are seen as a key driver of expansion in the healthcare sector. Companies from around the world are pooling resources to unleash AI’s full potential in medication discovery and the research of the effects and course of diseases like COVID and others.
Artificial Intelligence in Drug Discovery Market Segmentation:
By Product Type
The software subsector dominates the Artificial intelligence in drug discovery industry. Microsoft Azure and Google Cloud AI are two of the most popular AI cloud platforms available. Smaller firms are also building AI platforms, which is driving the rapid expansion of the AI market for drug discovery.
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By Molecule Type
Biologic medications are examples of drug prospects in the large molecule category because of their complicated molecular structure. Biologic medication development and complex molecular structure analysis are two areas where artificial intelligence (AI) technology is being increasingly put to use to meet the rising need for life-saving pharmaceuticals.
Machine learning techniques offer a toolkit for better decision making when dealing with large amounts of high-quality data and narrowly defined problems. Using ML to make decisions can increase the efficiency of the process and decrease the number of unsuccessful trials, both of which can hasten the creation of new medicines. The proportion of this group is expected to grow.
By Indication
Market share for AI in drug discovery is predicted to be highest in the immuno-oncology subsegment. Positive results from using AI to distinguish between similar genetic variants are encouraging for the future of precision medicine.
By Application
At least for the duration of the forecast, the preclinical testing subsegment of the artificial intelligence in drug discovery market is expected to account for a sizable portion of the overall market.
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Artificial Intelligence in Drug Discovery Market Regional Analysis
The presence of numerous large AI platform developers in the region is a key factor in the expansion of the AI in drug discovery industry in North America. The expansion of the ai in drug discovery market is being fueled in part by the rising interest in using AI in the pharmaceutical industry from major players like AbbVie, Genentech, Amgen, and Eli Lilly & Company. Also contributing to the expansion of the Americas is the rising need for novel pharmaceuticals in Latin America.
When it comes to artificial intelligence (AI) in drug development, Europe is the second largest market in the world, behind only the Americas. The regional ai in drug discovery market is predicted to increase as a result of a number of reasons, including rising R&D spending in the pharmaceutical industry and strong demand for AI solutions from Big Pharma businesses. In order to include AI technology into the drug discovery process, leading pharmaceutical corporations have formed collaborations with the AI service providers.
The rising need for efficient drug discovery solutions is fueling the expansion of the Asia-Pacific Artificial intelligence in drug discovery market. Several companies have begun focusing on using AI in the pharmaceutical research and development process.
The lack of a sophisticated healthcare system, the tiny number of companies actively engaged in medication discovery and development, and low per capita disposable incomes in some parts of Africa have combined to make the Middle East and Africa the smallest market for artificial intelligence in this field.
Discover more research Reports on Healthcare Industry, by Market Research Future:
Drug Discovery Services Market Research Report: By Drug Type (Small Molecule Drug, Biologics), by Type (DMPK, Pharmaceutical Services, Others), by Therapeutic Area (Oncology, Others), by Process, by Technology, and by End-User – Global Forecast Till 2030
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Internet of Things in Healthcare Market: By Component (Medical Devices- Wearable External Medical Devices, Implanted Medical Devices, Stationary Medical Devices, Systems; Software- Remote Device Management, Network Bandwidth Management, Data Analytics, Application Security, Network Security; and Services- Support & Maintenance Services, Consulting & System Integration), Application (Inpatient Monitoring, Medication Management, Telemedicine, Clinical Operations &Workflow Management, and Connected Imaging), Connective Technology (Wi-Fi, Bluetooth Low Energy, Zigbee, Near Field Communication, Cellular, and Satellite), End Use (Clinical Research Organizations, Hospitals & Clinics, Research, and Diagnostic Laboratories), Region (North America, Europe, Asia-Pacific, and Rest of the World)- Forecast to 2027
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
Clinical Trials Matching Software Market Projected to Reach $832.56 million by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 18, 2024 /PRNewswire/ — The report titled “Clinical Trials Matching Software Market by Functionality (Analytics & Reporting, Compliance Tracking, Data Management), Deployment (Cloud & Web Based, On-Premise), End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $342.20 million in 2023 to reach $832.56 million by 2030, at a CAGR of 13.54% over the forecast period.
“The Global Surge in Adoption of Matching Software for Enhanced Participant Enrollment”
Clinical trials matching software stands at the forefront of revolutionizing clinical research by automating the process of identifying and enrolling eligible participants. These platforms offer a streamlined approach to match patient health profiles with trial requirements, accelerating enrollment and supporting the shift toward personalized healthcare using these advanced AI and ML technologies. Although integrating these systems poses challenges due to variations in healthcare IT infrastructure and the imperative for rigorous data security, the potential for market growth is substantial. In the Americas, a robust clinical trials ecosystem thrives; in the European Union, it has unified regulatory standards and extended to emerging regions such as the Middle East, Africa, and the APAC countries; the demand for such innovative solutions is on a steep rise. This demand is fueled by governmental support, the evolving regulatory landscape, and strategic partnerships to embed these solutions within electronic health records, underscoring a global movement toward optimizing clinical trial processes to better cater to specific patient demographics.
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“The Rise of Virtual Trials and Advanced Matching Software”
The healthcare landscape is witnessing a transformative shift toward virtual clinical trials, fueled by technological advancements and the necessity for continuity during the COVID-19 pandemic. This transition supports research amid social distancing measures and introduces significant cost savings by reducing the need for physical infrastructure and in-person interactions. The efficiencies brought by electronic health records (EHR), wearable technologies, and automation streamline the entire process, from patient recruitment to data analysis. Several approaches, endorsed by regulatory bodies such as the FDA, represent a leap forward in making clinical trials more accessible and streamlined, ensuring that more patients can participate in potentially life-saving research without the geographical and logistic constraints of traditional trials.
“Enhancing Clinical Trials through Advanced Analytics, Rigorous Compliance, and Precision-Patient Matching”
Integrating advanced analytics, meticulous compliance monitoring, and precision-patient matching marks a significant advancement toward maximizing efficiency and fostering trial diversity. The software delivers insightful data on trial progress, participant demographics, and enrollment figures, empowering stakeholders to make well-informed decisions and optimize resource distribution to meet trial goals effectively by implementing cutting-edge analytics. The built-in compliance feature ensures trials are conducted in strict adherence to regulatory standards, minimizing risks associated with non-compliance. Furthermore, a robust data management system guarantees the integrity and availability of clinical trial data, which is critical for the seamless operation and real-time analysis of trials. The software includes state-of-the-art patient matching technology, which employs sophisticated algorithms and artificial intelligence to expedite recruitment by accurately identifying candidates who match specific trial requirements. This innovative approach accelerates the recruitment timeline and enhances the diversification of trial participants, paving the way for more inclusive and representative clinical research outcomes.
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“Medidata by Dassault Systèmes SE at the Forefront of Clinical Trials Matching Software Market with a Strong 11.30% Market Share”
The key players in the Clinical Trials Matching Software Market include International Business Machines Corporation, Science 37, Inc. by eMed, LLC, Medidata by Dassault Systèmes SE, AutoCruitment LLC, Deep 6 AI Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Clinical Trials Matching Software Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Clinical Trials Matching Software Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Clinical Trials Matching Software Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Clinical Trials Matching Software Market Landscape: Explore 190 Pages of Insights, 286 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsClinical Trials Matching Software Market, by FunctionalityClinical Trials Matching Software Market, by DeploymentClinical Trials Matching Software Market, by End-UseAmericas Clinical Trials Matching Software MarketAsia-Pacific Clinical Trials Matching Software MarketEurope, Middle East & Africa Clinical Trials Matching Software MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
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Clinical Trial Support Services Market – Global Forecast 2024-2030Virtual Clinical Trials Market – Global Forecast 2024-2030Clinical Trials Management System Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
For media inquiries, please contact [email protected]
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