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WASHINGTON, Feb. 02, 2023 (GLOBE NEWSWIRE) — According to the report published by Vantage Market Research, the Global Artificial Intelligence (AI) in Drug Discovery Market garnered $ 627.1 Million in 2021 and is estimated to generate $ 4197.5 Million by 2028, manifesting a CAGR of 41.5% from 2022 to 2028. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Market Dynamics:
Rise in Number of Cases of Cancer and other Diseases to Boost the Market Growth
Today Cancer has become one of the major causes of death all over the globe. With this regards, Artificial Intelligence can help researchers for understanding that how cancer cells can become resistant to anticancer drugs. Findings like these can help researchers in designing and developing the drugs accordingly is main factor driving the market growth. Additionally, high demand for the drugs for treating serious cancer is factor complementing market growth for AI in drug discovery.
Increasing Research and Development Activities in AI Technology Is Driving Market Growth
The AI for drug discovery and development market is experiencing a rapid growth driven by rise in number of collaborations and cross industry partnerships. The importance of AI in drug development and heavy funding research & development activities for the usage of AI technology is anticipated to boost the market growth. Additionally, increasing awareness related to artificial intelligence and the high potential in market of countries like China and India is another factor driving the market demand. On the contrary, lack of skilled professionals with insufficient datasets for the drug discovery is factors pulling the market growth down.
Top Players in the Artificial Intelligence in Drug Discovery Market:
- IBM Corporation (US)
- Microsoft (US)
- Google (US)
- NVIDIA Corporation (US)
- Atomwise, Inc. (US)
- Deep Genomics (Canada)
- Cloud Pharmaceuticals (US)
- Insilico Medicine (US)
- BenevolentAI (UK)
- Exscientia (UK)
- Cyclica (Canada)
- BIOAGE (US)
- Numerate (US)
- NuMedii (US)
- Envisagenics (US)
- twoXAR (US)
- OWKIN, Inc. (US)
- XtalPi (US)
- Verge Genomics (US)
- BERG LLC (US)
For Additional Information on Artificial Intelligence in Drug Discovery Market Players and Detail List, Download a Report PDF Brochure
Recent Developments:
December, 2021: Artificial intelligence (AI) backed drug discovery company Insilico Medicine announced that it was dosing the first healthy volunteer in a microdose trial of ISM 001-005. Designed with the help of AI, the drug is a small-molecule inhibitor of a biological target that was discovered by Pharma.AI. The trial is being conducted in Australia.
July, 2021: Sanofi, the Paris-based pharmaceutical giant, has signed research collaboration with Exscientia, which uses artificial intelligence to discover new drug candidates that could be worth up to $5.2 billion. The deal is a major milestone for A.I.-based drug discovery methods, which have attracted billions of dollars in investment in recent years on the promise of making the search for new medicines significantly more efficient and less risky, but have only just begun to produce new medicines that are entering human clinical trials.
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Regional Analysis:
North America Dominates the Global Artificial Intelligence in Drug Discovery Market
North America is projected to have higher market growth. The countries like the US, Mexico, and Canada have a largest market for AI in drug discovery and has been one of the early adopters of the Artificial Intelligence technology. Additionally, the region has some prominent AI technology providers, like Google, IBM, Microsoft, Intel, and NVIDIA, the strong presence some key players boosting the regional growth. High focus on Research and Development (R&D) with heavy investment and well-established pharmaceutical industry, are factors complementing market growth.
Browse market data Tables and Figures spread through 175 Pages and in-depth TOC on Artificial Intelligence in Drug Discovery Market Forecast Report (2022-2028).
Global Artificial Intelligence in Drug Discovery Market Segmentation
By Application
- Drug Optimization and Repurposing
- Preclinical Testing
- Others
By Therapeutic Look
- Oncology
- Neurodegenerative Diseases
- Cardiovascular Disease
- Metabolic Diseases
- Infectious Disease
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Read Full [email protected] https://www.vantagemarketresearch.com/industry-report/artificial-intelligence-in-drug-discovery-market-1239
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 627.1 Million |
| Revenue Forecast by 2028 | USD 4197.5 Million |
| CAGR | 41.5% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | IBM Corporation, Microsoft, Google, NVIDIA Corporation, Atomwise Inc., Deep Genomics, Cloud Pharmaceuticals, Insilico Medicine, BenevolentAI, Exscientia, Cyclica, BIOAGE, Numerate, NuMedii, Envisagenics, twoXAR, OWKIN Inc., XtalPi, Verge Genomics, BERG LLC |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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