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Artificial Intelligence (AI) in Drug Discovery Market Worth $8.95 Billion by 2030 – Exclusive Report by Meticulous Research®

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Redding, California, Jan. 26, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, Artificial Intelligence in Drug Discovery Market by Offering (Software, Services), Application (Target Discovery, Lead Identification, Clinical Testing), Therapy Area (Oncology, Cardiology, Neurodegenerative), Deployment, and End UserGlobal Forecast to 2030, published by Meticulous Research®, the AI in drug discovery market is projected to reach $8.95 billion by 2030, at a CAGR of 27.2% during the forecast period 2023–2030.

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AI systems can perform various human intelligence-based functions such as reasoning, learning, and problem-solving skills in different disciplines such as healthcare, computer science, mathematics, and engineering. The integration of AI into the healthcare ecosystem offers benefits such as automating tasks and analyzing big patient data sets to deliver better care at lower costs.

Artificial intelligence (AI) for drug discovery is a technology that uses algorithms to solve complex problems in the drug development process. The use of AI solutions in clinical trial processes eliminates issues like drug failure, reduces the time it takes for a clinical trial to complete, and improves the efficiency and accuracy of the process. As a result, stakeholders in the biomedical research field are using AI solutions in drug discovery processes.

Impact of COVID-19 on the AI in Drug Discovery Market

The COVID-19 pandemic became a global challenge due to the overburdening of healthcare systems, strict isolation and quarantine protocols, limitations on social activities, travel restrictions, the closing of borders, and the shutting down of businesses. However, the pandemic created significant opportunities for AI in drug discovery for the development of drugs and vaccines. Without drug discovery and AI advancements, it would have been extremely challenging for researchers to perform a comprehensive potency evaluation of drugs and vaccine candidates.

The use of AI for COVID-19-related vaccines and therapies increased during the pandemic. The AI techniques boosted the drug discovery process by reducing the time required to bring drugs to the market and speeding up lead discovery, virtual screening, and drug validation. The AI was also used to leverage drug repositioning studies by screening the properties of the preapproved or validated drugs. BenevolentAI (U.K.), an AI-based drug discovery company, used machine learning methods to accelerate the COVID-19 drug discovery program and identified baricitinib as a potential drug against COVID-19. Additionally, during the COVID-19 pandemic, pharmaceutical & biotechnology companies and research institutes collaborated with AI companies to develop COVID-19 therapeutics and vaccines. For instance, In June 2020, RepurposeAI (U.S.) collaborated with Scripps Research (U.S.) to develop COVID-19 therapeutics with a focus on drug repurposing.

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The global AI in drug discovery market study is segmented by offering (software and services), deployment mode (on-premises mode, cloud & web-based mode), application (target discovery & validation, lead compound identification, de novo design and drug optimization, preclinical & clinical testing), therapeutic area (immuno-oncology, neurodegenerative diseases, cardiovascular diseases, metabolic diseases, other applications ), end user (pharmaceutical & biopharmaceutical companies, contract research organizations (CROs), and academic & research institutes,), and geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.

Based on offering, in 2023, the software segment is expected to account for the largest share of the global AI in drug discovery market. The presence of a large number of AI companies providing algorithms for drug discovery and the high pricing of AI-based drug discovery software compared to the support services are the key factors contributing to the large market share of this segment.

Based on deployment mode, the cloud-based segment is projected to register the highest CAGR during the forecast period. The use of cloud-based and web-based models in AI drug discovery is growing due to their high security, scalability, and flexibility benefits. Using cloud-based models eliminates the need to invest in building and maintaining onboard computer systems. Additionally, the cloud-based models provide greater scalability to manage large sample data sets.

Based on therapeutic area, in 2023, the oncology segment is expected to account for the largest share of the global AI in drug discovery market. A large number of collaborations among drug discovery and AI companies is supporting the large market share of this segment. For instance, in November 2022, The University of Texas MD Anderson Cancer Center (U.S.) and Exscientia plc (U.K.) entered into a strategic collaboration to combine the drug discovery and development expertise of MD Anderson with the patient-centric artificial intelligence (AI) capabilities of Exscientia to boost the development of novel small-molecule oncology therapies. Additionally, in November 2021, Sanofi (France) announced an equity investment of USD 180 million in Owkin (U.S.), an AI and precision medicine company, to advance its oncology pipeline.

Based on application, in 2023, the lead compound identification segment is expected to account for the largest share of the global AI in drug discovery market. Lead compound identification is a complex step in drug discovery, during which many important properties, such as selectivity or the potency of the drugs, are identified before moving into clinical studies. The use of AI can reduce the time required for pre-clinical development, allowing resources to be channelized efficiently. Thus, the application of AI in this stage of drug discovery is the highest, which, in turn, supports the large market share of this segment.

Quick Buy – AI in Drug Discovery Market- Global Opportunity Analysis And Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/71789081

Based on end user, in 2023, the pharmaceutical & biopharmaceutical companies segment is expected to account for the largest share of the global AI in drug discovery market. The high prevalence of chronic and infectious diseases and high pressure on the pharmaceutical and biotechnology companies to bring effective therapies early to the market, coupled with advantages offered by AI algorithms for smooth drug discovery, are the factors contributing to the large market share of this segment.

Based on geography, in 2023, North America is expected to account for the largest share of the AI in drug discovery market, followed by Europe and Asia-Pacific. In 2023, the U.S. is expected to account for the largest share of the AI in drug discovery market in North America. This market is primarily driven by increasing public and private investments in drug discovery and the high adoption of AI solutions in drug discovery. The presence of key AI companies and pharmaceutical companies such as Abbott Laboratories (U.S) and Pfizer Inc. (U.S) also support the large share of this market. However, Asia-Pacific is expected to witnesss a rapid growth during the forecast period. The emerging infrastructure for AI and pharmaceutical research in countries such as China, India, Singapore, and South Korea, rising funding for cancer research, and growing investments in AI are driving the growth of the AI in drug discovery market in Asia-Paicifc. Furthermore, the growing number of AI-based drug discovery startups is also boosting the growth of this market.

Some of the key players operating in the global AI in drug discovery market are Microsoft Corporation (U.S.), Exscientia plc (U.K.), NVIDIA Corporation (U.S.), Schrödinger, LLC (U.S.), Atomwise, Inc. (U.S.), BenevolentAI Limited. (U.K.), Deep Genomics Incorporated (Canada), InSilico Medicine (U.S.), Cloud Pharmaceuticals, Inc. (U.S.), and Standigm Inc. (South Korea).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/artificial-intelligence-in-drug-discovery-market-5429

Scope of the Report:

AI in Drug Discovery Market, by Offering

  • Software
  • Services

AI in Drug Discovery Market, by Deployment Mode

  • On-premises
  • Cloud & Web-Based Mode

AI in Drug Discovery Market, by Application

  • Target Discovery & Validation
  • Lead Compound Identification
  • De Novo Design and Drug Optimization
  • Preclinical & Clinical Testing

AI in Drug Discovery Market, by Therapeutic Area

  • Oncology
  • Neurodegenerative Diseases
  • Cardiovascular Diseases
  • Metabolic Diseases
  • Other Therapeutic Areas

Note: Other therapeutic areas include infectious diseases and rare diseases.

AI in Drug Discovery Market, by End User

  • Pharmaceutical & Biopharmaceutical Companies
  • Contract Research Organizations (CROs)
  • Academic & Research Institutes

AI in Drug Discovery Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of APAC (RoAPAC)
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America (RoLATAM)
  • Middle East & Africa

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding, 
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected] 
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/657/artificial-intelligence-in-drug-discovery-market-2030


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Artificial Intelligence

Department of Health – Abu Dhabi Unveils ‘Declaration of Principles’ on Bioconvergence to Enhance Global Healthcare Outcomes

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ABU DHABI, UAE, May 13, 2024 /PRNewswire/ — An an outcome of the Health Leaders Forum (HLF) organised during Abu Dhabi Global Healthcare Week (ADGHW), the Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, unveiled a Declaration of Principles on Bioconvergence, to transform healthcare, improve human health and well-being. As a first-of-its-kind initiative, the Declaration outlines global principles covering guidance on transparency, accountability, and bias mitigation, as well as research ethics and ethical decision-making in the field of Bioconvergence.

Bioconvergence has been recognised as the latest technological trend of the 21st century for the healthcare sector. It is a transdisciplinary field that merges engineering and life sciences, and is set to revolutionise the health-tech industry. Bioconvergence fuses life sciences with a vast number of technologies from fields such as mathematics, engineering, and physical and computational sciences.
The Declaration of Principles will witness leading local and global entities collaborate with DoH including Amazon, Microsoft, UAE University (UAEU), Mohammad Bin Zayed University for AI (MBZUAI), Core 42 and Masdar City. Segmented into six strategic pillars, the principles aim to advance Bioconvergence research and development, encourage investment in the field to address urgent healthcare challenges, establish international cooperation frameworks, prioritise research areas in public health and personalised medicine, and promote the adoption of advanced technologies such as Artificial Intelligence (AI) and nanomedicine.
Dr. Asma Ibrahim Al Mannaei, the Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi (DoH): “In the intricacies of Bioconvergence, establishing fundamental principles is not merely a choice, but a collective responsibility. These principles serve as a beacon of transparency, guardians of accountability and shields against any form of bias. With the ever-evolving intersection of health and technology, integrity and diligence remain guiding threads for the Department of Health – Abu Dhabi. Reinforcing Abu Dhabi’s position as a leading destination for innovation in healthcare, the unique Declaration serves as a testament to the Department’s continued efforts to build a healthier world and shape the future of healthcare for generations to come.”
Moreover, upholding ethical standards and responsible practices involve raising awareness on the benefits and risks of Bioconvergence technologies, establishing ethical guidelines, and ensuring accessibility and affordability for all. Investment in education and workforce development entails supporting skill development, integrating Bioconvergence into relevant curricula, fostering interdisciplinary collaboration, and promoting diversity in the field.
Additionally, fostering collaboration and the exchange of knowledge among stakeholders, advocating for supportive policies and regulations, and engaging the community through awareness campaigns and transparent communication are crucial steps in advancing Bioconvergence research and innovation while maintaining community’s trust and support. These key pillars will support accelerating the future of healthcare and life sciences by making quality health a global priority.
Held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, Abu Dhabi Global Healthcare Week is a major government initiative taking place between 13 and 15 May 2024. ADGHW seeks to accelerate collaboration, innovation, and investment, and bring together researchers, policymakers, healthcare specialists, investors, and entrepreneurs across the global healthcare and life science ecosystem.
For more information please visit: https://www.adghw.com/
About Department of Health – Abu Dhabi (DoH):
The DoH is the regulatory body of the healthcare sector at the Emirate of Abu Dhabi and ensures excellence in healthcare by monitoring the health status of the population. DoH defines the strategy for the health system, monitors and analyses the health status of the population and performance of the system. In addition, DoH shapes the regulatory framework for the health system, inspects against regulations, enforce standards, and encourages adoption of world-class best practices and performance targets by all healthcare service providers in the Emirate. DoH also drives programmes to increase awareness and adoption of healthy living standards among the residents of the Emirate of Abu Dhabi in addition to regulating scope of services, premiums and reimbursement rates of the health system.
For further information on DoH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.
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Advanced HPC Server Platforms by MiTAC and TYAN Spotlighted at ISC High Performance 2024

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HAMBURG, Germany, May 13, 2024 /PRNewswire/ — Today, the subsidiary of MiTAC Holdings Corp.(TSE:3706), MiTAC Computing Technology and its server brand TYAN®, the leading manufacturer in server platform design worldwide, bring their new server platforms to the ISC 2024 event, booth #B01 in Hamburg, Germany. These solutions harness the power of the latest AMD EPYC 9004 series and AMD Ryzen 7000 series, along with the 5th Gen Intel Xeon Scalable Processors, offering optimized performance for HPC needs.

MiTAC introduces its revolutionary lineup of DSG products
Driven by shared values, MiTAC and Intel have had a strong partnership for years. Last year, MiTAC took over the manufacturing and sales of products designed by Intel Datacenter Solution Group (DSG). Today, MiTAC presents two models from its DSG product lineups, which are from the Intel Server M50FCP Family and the Intel Server D50DNP Family, at ISC 2024.
First, MiTAC displays a multi-node server, the Intel Server System D50DNP1MHEVAC 1U Half-Width air-cooled compute module with EVAC heatsink from the Intel Server D50DNP Family (Denali Pass). Intel® Server D50DNP family is the highest-performance density server featuring 5th/4th Gen Intel® Xeon® Scalable Processors or the Intel® Xeon® CPU Max Series and purpose-built modules, delivering robust performance, efficiency, and scalability tailored to specific needs for AI computing.
Then, there is the 1U Intel Server System M50FCP1UR204 from the Intel Server M50FCP Family (Fox Creek Pass). Supporting 5th/4th Gen Intel® Xeon® Scalable processors, the general purpose Intel® Server M50FCP Family offers robust compute capabilities, integrated accelerators, and exceptional I/O and memory bandwidth, making it the perfect solution for handling data-intensive mainstream tasks.
TYAN brings HPC optimized servers at ISC 2024
The Transport CX TD76-B8058 is a 2U 4-node single-socket HCI server powered by AMD EPYC 9004 processors. Each node includes 16 DDR5-4800 DIMM slots, 4 hot-swappable E1.s drive bays, 2 NVMe M.2 slots, 1 OCP v3.0 LAN mezzanine slot, and 1 standard PCIe 5.0 x16 slot. Front I/O facilitates efficient network cable routing, while rear-accessible hot-swappable cooling fans and redundant 80+ Titanium power supplies ensure optimal system serviceability.  Powered by 5th/4th Gen Intel Xeon Scalable processor, TYAN Thunder CX TD76-B5658 is a 2U 4 nodes single-socket server designed for high-density cloud server deployment. It comes with shared system fans, redundant 80+ Titanium power supplies, and hot-swappable modules for simple maintenance. Additionally, it offers front I/O for effortless network cable management, and each node supports PCIe 5.0 x16, OCP v3.0 LAN mezzanine, and NVMe E1.s SSDs.
Apart from the above, TYAN provides the Transport CX GX40-B8016 for those requiring entry-level servers. This compact 1U AMD Ryzen cloud server is perfect for front-end portal and edge computing tasks in data centers. It features 4 DDR5-4800 UDIMM slots, supports up to 4 SATA drives, 2 NVMe M.2 slots, and one PCIe 5.0 x16 slot.
About MiTAC Computing Technology Corp.
MiTAC Computing Technology Corp, a MiTAC Holdings Corp. (TSE:3706) subsidiary, specializes in cloud and edge computing solutions and has over 30 years of design and manufacturing expertise. With a strong focus on large-scale data centers, the company offers flexible and customized supply models for various systems and applications. Its product lineup includes TYAN servers, 5G ORAN servers, high-performance AI servers, and data center products. Intel Datacenter Solutions Group (DSG) transited its business to MiTAC since July 2023, allowing MiTAC expanding its product offerings with cutting-edge total cost of ownership solutions for next-gen data center equipment.
MiTAC Computing Technology Official website: www.mitacmct.com
MiTAC DSG website: https://datacentersolutions.mitacmct.com/
About TYAN
TYAN, as a leading server brand of MiTAC Computing Technology Corporation under the MiTAC Holdings Corp. (TSE:3706), designs, manufactures and markets advanced x86 and x86-64 server/workstation board technology, platforms and server solution products. Its products are sold to OEMs, VARs, System Integrators and Resellers worldwide for a wide range of applications. TYAN enables its customers to be technology leaders by providing scalable, highly-integrated, and reliable products for a wide range of applications such as server appliances and solutions for HPC, hyper-scale/data center, server storage, AI and security appliance markets. For more information, please visit TYAN’s website at http://www.tyan.com or MiTAC Computing Technology Corporation website at http://www.mitacmct.com
AMD, the AMD Arrow logo, EPYC, Ryzen and combinations thereof are trademarks of Advanced Micro Devices, Inc.
Intel, the Intel logo, Xeon and combinations thereof are trademarks of Intel Corporation
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Department of Health – Abu Dhabi partners with MBZUAI and Core42 to launch Global AI Healthcare Academy

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ABU DHABI, UAE, May 13, 2024 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, signed a Memorandum of Understanding (MoU) with Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the leading AI research-based academic institution located in Abu Dhabi, and Core42, a G42 company offering AI solutions, during Abu Dhabi Global Healthcare Week (ADGHW). This MoU will launch the global AI Healthcare Academy to the health workforce. The MoU was signed by Dr. Rashed Obaid Al Suwaidi, Executive Director of Healthcare Workforce Planning Sector at DoH, Sultan Al Hajji, Vice President of Public Affairs and Alumni Relations at MBZUAI and Talal Al Kaissi, Executive Vice President, Chief Product and Global Partnership Officer at Core42.

 
 
Reinforcing Abu Dhabi’s position as a leading destination for healthcare and life sciences, the partnership seeks to establish a framework of collaboration to strengthen the Emirate’s position at the forefront of technology-enabled and data-driven healthcare systems. The new AI Healthcare Academy will help to build a global AI-trained workforce, which is capable of advancing diagnostic and operational efficiency, significantly improving patient care, and streamlining healthcare processes around the world.
Sultan Al Hajji, Vice President of Public Affairs and Alumni Relations at MBZUAI, said: “Healthcare is a key research pillar for MBZUAI, because we recognise the transformative and life-saving potential of AI across a wide range of diagnostic and treatment areas. In addition to our recent effort in establishing the Institute of Digital Public Health, we are proud to partner with The Department of Health – Abu Dhabi in launching the new AI Healthcare Academy. MBZUAI will provide the Academy our world-class faculty to facilitate AI workshops and training to upskill the healthcare workforce in support of the UAE leadership’s vision to become a global hub for AI and a centre for life sciences.”
Through leveraging advanced technologies and harnessing the power of AI, DoH seeks to upskill the health workforce, enhance local practices and contribute to broader medical research and treatment modalities worldwide. By embracing AI-driven technologies, healthcare professionals can stay at the forefront of innovation, fostering collaboration and knowledge exchange on a global scale.
By collaborating with MBZUAI through its Institute of Digital Public Health, the Academy will encompass ground-breaking research. These efforts will encourage public-private partnerships, fostering collaboration to secure ample funding and ensure ongoing sustainability, setting the academy for long-term success and supporting responsible and impactful innovation.
Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, Abu Dhabi Global Healthcare Week (ADGHW) is a major government initiative from DoH, taking place between 13 and 15 May 2024.
For more information please visit: https://www.adghw.com/
About Department of Health – Abu Dhabi (DoH):
The DoH is the regulatory body of the healthcare sector at the Emirate of Abu Dhabi and ensures excellence in healthcare by monitoring the health status of the population. DoH defines the strategy for the health system, monitors and analyses the health status of the population and performance of the system. In addition, DoH shapes the regulatory framework for the health system, inspects against regulations, enforce standards, and encourages adoption of world-class best practices and performance targets by all healthcare service providers in the Emirate. DoH also drives programmes to increase awareness and adoption of healthy living standards among the residents of the Emirate of Abu Dhabi in addition to regulating scope of services, premiums and reimbursement rates of the health system.
For further information on DoH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.
About Mohamed bin Zayed University of Artificial Intelligence (MBZUAI)
MBZUAI is a graduate, research university focused on artificial intelligence, computer science, and digital technologies across industrial sectors. The university aims to empower students, businesses, and governments to advance artificial intelligence as a global force for positive progress. MBZUAI offers various graduate programs designed to pursue advanced, specialized knowledge and skills in artificial intelligence, including computer science, computer vision, machine learning, natural language processing, and robotics. For more information, please visit www.mbzuai.ac.ae.
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