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AI in Drug Discovery Market Size & Share to Surpass $4,197.5 Million by 2028 | Vantage Market Research

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WASHINGTON, April 04, 2023 (GLOBE NEWSWIRE) — The Global Artificial Intelligence in Drug Discovery Market is valued at USD 627.1 Million in 2021 and is projected to reach a value of USD 4,197.5 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 41.5% over the forecast period 2022-2028.

Market Overview:

The artificial intelligence (AI) in drug discovery market is expected to grow at a compound annual growth rate (CAGR) of 41.5% from 2021 to 2028. The growth of the market is attributed to the increasing demand for novel drug therapies, rising prevalence of chronic diseases, and growing investments in R&D by pharmaceutical companies.

AI is being used in drug discovery to automate tasks such as data mining, compound screening, and target identification. AI-based systems can analyze large amounts of data from multiple sources, identify patterns that would be missed by humans, and generate new hypotheses about potential drug targets.

The AI in drug discovery market is segmented based on technology, application, end user, and region. Based on technology, the market is segmented into machine learning, deep learning, natural language processing, and others. Machine learning is the most widely used technology in AI drug discovery, followed by deep learning.

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Market Dynamics:

The key drivers of the AI in drug discovery market are the increasing demand for novel drug therapies, rising prevalence of chronic diseases, and growing investments in R&D by pharmaceutical companies.

The increasing demand for novel drug therapies is the major driver of the AI in drug discovery market. The global burden of chronic diseases is increasing, and there is a need for new and effective drugs to treat these diseases. AI can be used to discover new drug targets and develop new drugs more quickly and efficiently.

The rising prevalence of chronic diseases is another driver of the AI in drug discovery market. Chronic diseases such as cancer, diabetes, and cardiovascular diseases are the leading causes of death worldwide. The prevalence of these diseases is increasing due to aging population, unhealthy lifestyles, and environmental factors. AI can be used to develop new drugs to treat these diseases.

Growing investments in R&D by pharmaceutical companies is another driver of the AI in drug discovery market. Pharmaceutical companies are investing heavily in R&D to develop new drugs. AI can be used to accelerate the drug discovery process and reduce the cost of drug development.

The key challenges of the AI in drug discovery market are the lack of skilled professionals, data privacy and security concerns, and regulatory challenges.

The lack of skilled professionals is a major challenge of the AI in drug discovery market. The demand for AI professionals is increasing, but there is a shortage of skilled professionals in the market. This shortage is expected to limit the growth of the market.

Data privacy and security concerns are another challenge of the AI in drug discovery market. AI systems collect and analyze large amounts of data. This data can be sensitive and confidential, and there are concerns about the privacy and security of this data.

Regulatory challenges are another challenge of the AI in drug discovery market. AI systems are still in their early stages of development, and there are no clear regulations governing their use in drug discovery. This lack of regulations can create uncertainty for companies developing AI-based drug discovery solutions.

Despite the challenges, the AI in drug discovery market is expected to grow at a significant CAGR during the forecast period. The growth of the market is attributed to the increasing demand for novel drug therapies, rising prevalence of chronic diseases, and growing investments in R&D by pharmaceutical companies.

Top Players in the Global 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)

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Top Report Findings

  • The market is expected to grow at a compound annual growth rate (CAGR) of 41.5% from 2021 to 2028.
  • The increasing demand for novel drug therapies, rising prevalence of chronic diseases, and growing investments in R&D by pharmaceutical companies are the key drivers of the market.
  • Machine learning is the most widely used technology in AI drug discovery, followed by deep learning.
  • Target identification is the largest application segment of the AI in drug discovery market.
  • Pharmaceutical companies are the largest end user segment of the AI in drug discovery market.
  • North America is the largest market for AI in drug discovery, followed by Europe and Asia Pacific.
  • The key challenges of the market are the lack of skilled professionals, data privacy and security concerns, and regulatory challenges.

Top Trends in Global Artificial Intelligence in Drug Discovery Market

  • Increasing use of AI in early-stage drug discovery: AI is being used to identify new drug targets, design new drugs, and screen compounds for potential drug candidates. This is helping to accelerate the drug discovery process and reduce the cost of drug development.
  • Growing adoption of AI by pharmaceutical companies: Pharmaceutical companies are increasingly adopting AI to improve their drug discovery efforts. AI is being used to automate tasks, identify patterns, and generate new hypotheses. This is helping to improve the efficiency and productivity of drug discovery.
  • Collaborations between AI companies and pharmaceutical companies: AI companies are collaborating with pharmaceutical companies to develop and deploy AI-based drug discovery solutions. This is helping to accelerate the adoption of AI in drug discovery and improve the success rate of drug development.
  • Investments in AI startups: Venture capitalists and other investors are investing in AI startups that are developing drug discovery solutions. This is helping to fuel the growth of the AI in drug discovery market.
  • Regulatory changes: Regulatory bodies are starting to recognize the potential of AI in drug discovery. This is leading to changes in regulations that are making it easier for AI companies to develop and deploy AI-based drug discovery solutions.

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The global artificial intelligence in drug discovery market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is the largest market for AI in drug discovery, followed by Europe and Asia Pacific.

  • The growth of the AI in drug discovery market in North America is attributed to the presence of a large number of pharmaceutical companies, high investments in R&D, and a favorable regulatory environment. The US is the largest market for AI in drug discovery in North America.
  • The growth of the AI in drug discovery market in Europe is attributed to the presence of a large number of pharmaceutical companies, increasing investments in R&D, and a favorable regulatory environment. Germany is the largest market for AI in drug discovery in Europe.
  • The growth of the AI in drug discovery market in Asia Pacific is attributed to the increasing prevalence of chronic diseases, rising investments in R&D, and a favorable regulatory environment. China is the largest market for AI in drug discovery in Asia Pacific.
  • The Rest of the World is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is attributed to the increasing investments in R&D, favorable regulatory environment, and the presence of a large number of pharmaceutical companies in emerging markets such as India and Brazil.

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

Application

  • Drug Optimization and Repurposing
  • Preclinical Testing
  • Others

Therapeutic Look

  • Oncology
  • Neurodegenerative Diseases
  • Cardiovascular Disease
  • Metabolic Diseases
  • Infectious Disease
  • Others

By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-East Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Read Full Report with TOC @ 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 4,197.5 Million
CAGR 41.5% from 2023 to 2028
Base Year 2022
Forecast Year 2023 to 2030
Key Players IBM Corporation (US), Microsoft (US), and 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), and BERG LLC (US).
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Key Questions Answered in the Artificial Intelligence in Drug Discovery Market Report are:

  • What is the size of the global artificial intelligence in drug discovery market?
  • What are the key drivers and restraints of the market?
  • What are the key trends in the market?
  • What are the key opportunities in the market?
  • What are the key challenges in the market?
  • Who are the key players in the market?
  • What are the strategies adopted by the key players?
  • What are the recent developments in the market?
  • What are the future prospects of the market?

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Artificial Intelligence

atNorth Wins ‘Colocation Provider of the Year’ and ‘Digital Infrastructure Project of the Year’ at Industry Award Events

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AtNorth recognized at the Electrical Review & Data Centre Review Awards and the Tech Capital Awards.
REYKJAVÍK, Iceland, May 24, 2024 /PRNewswire/ — atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider has today announced further acknowledgement in the industry as it wins two significant awards.

The business has been awarded the `Colocation Provider of the Year’ award at the Electrical Review & Data Centre Review Awards. atNorth has undertaken a significant expansion strategy in recent years, that has ensured that the business can offer high performance infrastructure at speed and scale. This award reflects the business’ growth journey as it continues to innovate and adapt to technological advancements and client requirements.
atNorth has also won the `Digital Infrastructure Project of the Year’ at the Tech Capital Awards for its work with client, Shearwater Geoservices.  The global marine imaging and processing leader achieved a 92% reduction in CO2 output and an 85% reduction in cost by moving a portion of its UK HPC infrastructure to one of atNorth’s Icelandic data center sites.
Fueled by the abundant renewable power sources of the Nordics, atNorth`s services deliver performance and efficiency for high density workloads in a sustainable way that enables clients to decarbonize their IT footprint and reduce overall costs.
Winners are voted for by a panel of industry experts for both awarding bodies in a process that aims to recognize the outstanding achievements within the digital infrastructure industry.
“We are thrilled to receive these acknowledgments for our data center services”, says Eyjólfur Magnús Kristinsson, CEO at atNorth. “atNorth has experienced significant growth over the last couple of years and this industry recognition is a testament to our dedication to delivering excellence across the board. We are determined to continue decarbonizing the world’s most demanding workloads in an efficient, sustainable, and cost-effective way.”
The news follows atNorth’s announcements of colocation clients Crusoe, BNP Paribas and Advania. The business has also received recent recognition from multiple other awarding bodies including; the Datacloud Global Awards, the Energy Awards, TechRound’s Sustainability60 and the UK Green Business Awards.  
About atNorth
atNorth is a leading Nordic data center services company that offers sustainable, cost-effective, scalable colocation and high-performance computing services trusted by industry-leading organizations. The business acquired leading High-Performance Computing (HPC) provider, Gompute, in 2023 enabling a compelling full stack offering tailored to AI and other critical high-performance workloads. 
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, with additional sites to open in Helsinki, Finland and in Denmark in Q4 2024, as well as its tenth site ready for operation in Kouvola, Finland in 2025.
For more information, visit atNorth.com or follow atNorth on LinkedIn or Facebook.
Press Contact:Caroline BruntonKite Hill PR for atNorth+44 (0) 7796 274 [email protected]
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/atnorth/r/atnorth-wins–colocation-provider-of-the-year–and–digital-infrastructure-project-of-the-year–at-i,c3987735
The following files are available for download:
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Titans of Tech: GP Bullhound releases its annual report on the European tech ecosystem

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LONDON, May 24, 2024 /PRNewswire/ — Titans of Tech:  Unrivalled era of A.I. led innovation for European Tech –  No more excuses. GP Bullhound is proud to announce the release of its Titans of Tech 2024 report. For the tenth year in a row, GP Bullhound has released its annual Titans of Tech report, highlighting and analysing the growth trends in Europe’s tech ecosystem. This comprehensive analysis underscores the resilience and growth of Europe’s tech sector, setting the stage for a new era of innovation and investment.

Key takeaways from our report include:
The funding frenzy is over, but the new normal is very healthy: Funding levels have normalised, averaging €15Bn per quarter over the last year, which is ~50% higher than 2019.The value of the ecosystem is growing despite the failures: 14 new unicorns were created in the last 12 months. Europe and Israel now have 323 unicorns, up from 311 a year ago and 283 the year before. The ecosystem’s total valuation has grown to $1.2Tr, an ~11x increase in billion-dollar companies and a ~14x increase in aggregate valuation since our first report in 2014.Megarounds are fewer but larger and still accessible: Access to capital rounds exceeding $50 million has tightened, but investors remain interested in supporting innovators. The deal count dropped 68% over the last two years due to a focus on profitability and conservative planning. Only 17% of European unicorns raised capital in 2023, as 93% had already raised funds during the 2021-2022 bull market.Software innovation continues, shaping the way we live and work: Despite funding challenges, technological developments, especially in artificial intelligence, continue to drive automation and cost savings. European AI companies received over €11Bn in funding in the last year, with 36% of new unicorns being AI/ML businesses.Category leaders and geographies: This year, the UK and France lead the startup arena with three unicorns each. The UK’s unicorns are valued at $3.4Bn, with significant contributions from AI leaders Synthesia and Builder.ai. France’s trio reaches a collective valuation of $7Bn, highlighted by innovators like Mistral AI. Germany, Israel, and the Netherlands each added two unicorns, while Sweden and Italy added one unicorn each.Europe’s most promising startups: GP Bullhound has analysed more than 100 European startups for scale, velocity, and sentiment, and ranked the top 50 companies with the most potential to become one-billion-dollar companies. The top 10 include Agicap, Brevo, Typeform, Homa, AMBOSS, Akeneo, Form3, Flo Health, Aidoc, and ConnexOne.Manish Madhvani, Managing Partner at GP Bullhound, said: “After ten years of issuing our Titans of Tech report, we have witnessed the highs and lows of the European tech ecosystem. A year ago, the situation was less encouraging for the fundraising environment, with macro uncertainty and with businesses more focused on layoffs than on growth and innovation.
Today, against the backdrop of negative headlines, we have cemented the building blocks for the next wave of innovation. Funding levels have stabilised, and are amazingly 50% higher than pre bull market levels. With Europe’s maturing base of engineering talent and the world’s fascination in its potential productivity gains, artificial intelligence offers a unique opportunity to create global leaders in record time. There is no shortage of funding for the best entrepreneurs and companies, as evidenced by the record $220m seed round for Paris based H announced this week. What was noticeable about the round was the range of the investor syndicate : from strategics such as Amazon, Samsung and UI Path, household names such as Bernard Arnault, Eric Schmidt and Xavier Niel, and leading VC’s.Looking ahead, we expect the next few years to represent an era of unprecedented innovation in the European ecosystem. Innovation is flowing, vast amounts of capital are available for the strong and the talent pool is expanding. No more excuses Europe!”
Expert interviewsWhat does it take to build a billion-dollar company? What are the critical success factors for European tech? How to remain resilient in a challenging market and benefit from economic downturns? This year’s report features expert views from leading founders and CEOs, including Synthesia, Quantexa, SEON, Flo Health, Zappi and CoverManager.
Download full report: www.gpbullhound.com/articles/titans-of-tech-2024
EnquiriesFor enquiries, please contact: [email protected]
About GP BullhoundGP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.
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Bybit Web3 Announces Upcoming IDO for Aperture Finance, Simplifying Web3 Finance

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DUBAI, UAE, May 24, 2024 /PRNewswire/ — Bybit Web3, the Web3 division of Bybit – one of the top three global crypto exchanges by trading volume, today announced an upcoming Initial DEX Offering (IDO) for Aperture Finance ($APTR) on its Web3 platform.

“Bybit Web3 is thrilled to be partnering with Aperture Finance to bring their innovative IDO to our platform,” said Emily Bao, Bybit Web3 Evangelist. “Aperture Finance’s AI-powered solutions have the potential to revolutionize DeFi by simplifying complex transactions and making Web3 finance more accessible to a wider audience. We believe this IDO will be a great opportunity for our users to get involved in this groundbreaking project early on.”
Aperture Finance: Simplifying the complexities of Web3 finance
Aperture Finance is a pioneer in AI-powered intents. Featuring an IntentsGPT interface and an AI-driven smart solver simulation, Aperture’s solver network significantly reduces barriers for DeFi users and enhances transaction efficiency.
IDO Details
IDO Subscription Period: May 24, 2024, 10AM UTC to May 28, 2024, 10AM UTCSnap Period: May 28, 2024, 10AM UTC to May 31, 2024, 10AM UTCReveal and Purchase Period: May 31, 2024, 10:15AM UTC to June 1, 2024, 10AM UTCListing Date: May 31, 2024, 10AM UTCToken Details
Token: APTRTotal Supply: 1,000,000,000Total Allocated to Bybit IDO: 6,666,667 APTREligibility Requirements
Users must hold a Bybit Wallet with a minimum balance of 300 USDT (Arbitrum Chain) throughout the Snapshot Period to participate in the IDO.Three (3) snapshots will be taken daily during the Snapshot Period.Maximum number of winners: 3,000For detailed information on the IDO process and eligibility requirements, please visit the Bybit Web3 page: https://www.bybit.com/en/web3/ido
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting. 
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 30 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit, please visit Bybit Web3.
About Bybit
Bybit is one of the world’s top three crypto exchanges by trading volume with 30 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.For media inquiries, please contact: [email protected] more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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