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Drug Discovery – Market Insights, Competitive Landscape, and Market Forecast 2023 – 2027

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Dublin, April 10, 2023 (GLOBE NEWSWIRE) — The “Drug Discovery – Market Insights, Competitive Landscape, and Market Forecast – 2027” report has been added to ResearchAndMarkets.com’s offering.

The global drug discovery market will grow at a CAGR of 7.64% during the forecast period from 2022 to 2027 to reach USD 97,007.77 million by 2027. The drug discovery market is observing substantial market growth primarily owing to the increasing prevalence of chronic and rare diseases such as cancers, cardiovascular, diabetes, and sickle cell anemia, among others.

Further, the growing interest in including AI in drug discovery and development owing to its advantages, increasing R&D expenditure and investments in the development of novel drug molecules, the presence of a robust number of pipeline products across the globe, surging number of biologics and generic drugs, increasing new drug launches and approvals, presence of key players and CRO’s in the market, and others will create a requisite for drug discovery services in the market.

Therefore, the market for drug discovery is estimated to grow at a substantial CAGR during the forecast period from 2022 to 2027.

Drug Discovery Market Dynamics:

One of the key aspects influencing the growth of the drug discovery market can be the high capital investment in the drug discovery and development process. Following the conventional method of drug discovery and drug development results in the consumption of 12-14 years till a final product reaches the market for end users.

For instance, as per the Pharmaceutical Research and Manufacturers of America, on average, a drug takes about 10 years to reach the market with clinical trials themselves accounting for 6-7 years out of the total time.

The same source further stated that the average cost to develop each successful drug comes out to be approximately USD 2.5 billion. The drug discovery step in the drug development process is extremely daunting as there is a vast chemical space, comprising >1060 molecules that may serve as the starting point for developing potential drugs.

The advantages offered by various drug discovery services in terms of machine learning, neural networks can recognize hit and lead compounds, and provide a quicker validation of the drug target and optimization of the drug structure design. Therefore, all the aforementioned factors point towards the advantages of drug discovery services helping in faster identification of targets, lead compounds, and subsequent development of the drug, thereby presenting a positive growth outlook for the drug discovery market during the forecast period (2022-2027).

Another factor driving the drug discovery market is the rising burden of various chronic diseases such as cancers, cardiovascular diseases, diabetes, hemoglobin diseases, and rare diseases, among others. For instance, according to the World Health Organization (WHO) 2022, it was estimated that each year over 300,000 babies with severe forms of these diseases are born worldwide, the majority in low and middle-income countries.

Moreover, according to the World Health Organization (WHO) 2022, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. The new cases of breast cancer in 2020 were 2.26 million cases, across the globe. Thus, the increasing prevalence of chronic diseases will increase the demand for new drugs for treatment in the market which will ultimately increase the demand for various drug discovery services in the market.

The rapid growth of the pharmaceutical industry is also expected to drive the drug discovery market in the coming years. The biopharmaceutical industry is expanding rapidly as a result of increased government and corporate investments in the development of new medicines to treat chronic diseases. Furthermore, favorable government regulations, combined with the active role of authorities such as the FDA and EMA, are fueling market growth.

However, the huge capital investment with low-profit margins, stringent government regulations approval process, and others may halt the drug discovery market growth.

Drug Discovery Market Segment Analysis:

In the drug type segment of the drug discovery market, the biologics segment is expected to have a significant revenue share in the year 2021. This was primarily owing to the increasing demand for biologics in the treatment of various chronic diseases such as cancers and others. Moreover, the expanding launches and strategic investments, and other activities by the key players related to the segment will support the market growth during the forecast period.

Biologics have several advantages, including highly effective and potent action, fewer side effects, and the potential to cure diseases rather than simply treat symptoms, which has significantly increased demand for these products. The efficacy and safety of biopharmaceuticals have resulted in their widespread use, propelling the global drug discovery market.

Also, in this new era of medicine, new drugs are targeting the underlying causes of disease in unprecedented ways, and conditions once thought to be fatal are now manageable, if not curable. Further, recent therapeutic advances have the potential to cure the disease while also assisting patients in avoiding serious disease complications such as cirrhosis, advanced liver disease, and liver cancer.

North America is expected to dominate the overall Drug Discovery Market:

Among all the regions, North America is expected to dominate global drug discovery in the year 2021 and is expected to do the same during the forecast period from 2022-2027.

This can be ascribed to the increasing demand for drug discovery among the patients in the region owing to the increasing prevalence of various chronic diseases in the region. Further, the surging number of generic drugs and biosimilars, the presence of key domicile players, and rising new drug approvals in the region are the reasons which act as a supportive factor for North America drug discovery market growth.

For instance, according to GLOBOCAN 2021 data, the total number of new cancer cases was 2,281,658 in the United States, in 2020. Moreover, the American Cancer Society estimates that in 2022, approximately 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the United States. Therefore, the rising prevalence of cancers in the country is boosting the development of cancer drug development, thereby providing a conducive environment for the drug discovery market to grow in the United States.

Furthermore, various strategic steps by the key players is expected to boast the market for drug discovery in the North America. For instance, in January 2020, Bayer entered a collaboration agreement with artificial intelligence drug discovery company Exscientia to identify and optimize novel lead structures for potential drug candidates in treating cardiovascular and oncological diseases. Also, in September 2022, CytoReason entered a multi-year partnership with Pfizer to use CytoReason’s artificial intelligence technology for Pfizer’s drug development program. Such collaborations among key market players in the United States to implement AI technology in drug discovery are expected to drive the growth of this market studied in this region.

The region has great opportunities for biosimilars, as they carry a higher price, more efficacy, and lesser side effects. In 2020, the United States market was estimated to become one of the major competitors of biosimilars. Along with this, many new drug molecules are getting approved by US FDA, which will further propel the demand of drug discovery in the upcoming years. For instance, in December 2022, TG Therapeutics, Inc. got approval for BRIUMVIT (ublituximab-xiiy) injection, a new drug molecule used to treat relapsing forms of multiple sclerosis. Many other new drug entities such as lenacapavir, adagrasib, olutasidenib, and others were approved by US FDA in 2022.

Drug Discovery Market Key Players:

Some of the key market players operating in the drug discovery market are Existencia, Evotec, Curia Global, Inc., Laboratory Corporation of America Holdings., GenScript, Thermo Fisher Scientific Inc., Charles River Laboratories., WuXi AppTec, Dalton Pharma Services, Oncodesign, Jubilant Biosys Ltd., IBM Corporation, Numedii Inc, Deep Genomics, NVIDIA Corporation, Pharmaron, Domainex, TCG Lifesciences Pvt. Ltd., Cloud Pharmaceuticals Inc, Alphabet Inc (DeepMind), and others.

Recent Developmental Activities in the Drug Discovery Market:

  • In January 2022, Evotec and Boehringer Ingelheim formed a target and drug development collaboration focused on iPSC-based disease modeling for ophthalmologic illnesses.

Key Takeaways from the Drug Discovery Market Report Study

  • Market size analysis for current drug discovery market size (2021), and market forecast for 5 years (2022-2027)
  • The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the drug discovery market.
  • Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
  • Key companies dominating the global drug discovery market.
  • Various opportunities available for the other competitor in the drug discovery market space.
  • What are the top-performing segments in 2021? How these segments will perform in 2027.
  • Which are the top-performing regions and countries in the current drug discovery market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for drug discovery market growth in the coming future?

Target Audience who can be benefited from this Drug Discovery Market Report Study

  • Drug discovery service providers
  • Research organizations and consulting companies
  • Drug discovery-related organizations, associations, forums, and other alliances
  • Government and corporate offices
  • Start-up companies, venture capitalists, and private equity firms
  • Distributors and Traders dealing in drug discovery
  • Various end users who want to know more about the drug discovery market and the latest developments in the drug discovery market.

A selection of companies mentioned in this report includes

  • Existencia
  • Evotec
  • Curia Global, Inc.
  • Laboratory Corporation of America Holdings.
  • GenScript
  • Thermo Fisher Scientific Inc.
  • Charles River Laboratories.
  • WuXi AppTec
  • Dalton Pharma Services
  • Oncodesign
  • Jubilant Biosys Ltd.
  • IBM Corporation
  • Numedii Inc
  • Deep Genomics
  • NVIDIA Corporation
  • Pharmaron
  • Domainex
  • TCG Lifesciences Pvt. Ltd.
  • Cloud Pharmaceuticals Inc
  • Alphabet Inc (DeepMind)

For more information about this report visit https://www.researchandmarkets.com/r/ywyd66

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.



 


 





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Artificial Intelligence


Innodisk Introduces iCAP Air: Advancing Air Quality Management through Autonomous Decision-Making





 






Published
 2 hours ago 
on
 May 3, 2024





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TAIPEI, May 3, 2024 /PRNewswire/ — Innodisk, a global leader in AI solutions, has taken a pivotal step forward in environmental sustainability with the launch of its latest innovation, the “iCAP Air” air quality management solution. This solution empowers businesses worldwide to enhance air quality, sustainability, and human health. Additionally, business can benefit from monthly AI-generated air quality data report, providing valuable insights for informed decision-making.


Leveraging its expertise in edge computing and software and hardware integration, along with the expertise of its subsidiary Sysinno in air quality detection, Innodisk has achieved the development of the “iCAP Air” air quality management solution. This solution integrates advanced technology, including the innovative “iAeris7” air quality detector from Sysinno, to deliver accuracy in detecting temperature, humidity, fine suspended particles (PM2.5), suspended particles (PM10), carbon dioxide (CO2), formaldehyde and total volatile organic compounds (TVOC). It can also be customized to detect NO2, SO2, CO, NH3, and other air factors. At the same time, the iAeris7 device is known for its reliability, patented technology, and various international certifications, including those from SGS and FCC/CE/RoHS/NCC/BSMI.

The solution also includes the “iCAP Air Server,” designed to manage large-scale deployment and data from up to 100 air quality detectors, ensuring seamless integration and efficient operation, even in complex environments. Additionally, iCAP Air provides a user-friendly air quality management platform, enabling organizations to monitor air quality in real-time via a mobile app or internet browser, receive automatic alerts, and optimize air purification or exhaust ventilation system.

iCAP Air is a comprehensive solution that simplifies air quality management for users. It is tailored for medium to large-sized sites or densely populated, enclosed spaces such as medical institutions, smart manufacturing facilities, public transportation hubs, indoor parking facilities, and department stores. Innodisk’s “iCAP Air” air quality management solution represents a milestone for all businesses committed to leveraging technology for the greater good of air quality and society.

Photo – https://mma.prnewswire.com/media/2404226/Press_Photo_iCAP_Air_Overview.jpgLogo – https://mma.prnewswire.com/media/826938/Innodisk_Corporation_Logo.jpg 


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Artificial Intelligence


Bitrue expands Bitcoin Runes Offerings with GPTV Listing and Staking Options





 






Published
 4 hours ago 
on
 May 3, 2024





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VICTORIA, Seychelles, May 3, 2024 /PRNewswire/ — Leading digital asset exchange Bitrue continues its community-driven approach with the listing of a new Bitcoin Runes token, GPTV•AI•PEPE•KING (GPTV). This follows the recent addition of several other Bitcoin Runes tokens to the platform, including SATOSHI•NAKAMOTO (SATOSHI), LOBO•THE•WOLF•PUP (LOBO), RSIC•GENESIS•RUNE (RSIC), and DOG•GO•TO•THE•MOON (DOG). Trading for the GPTV/USDT pair commenced on April 30th, 2024.


What is GPTV?

GPTV is the native token of AI PEPE KING, a project claiming to be the “largest AI Meme Community” with a presence on both the Polygon (AIPEPE) and Bitcoin Runes (GPTV) blockchains. Notably, AI PEPE KING secured a $10 million investment to develop AI-powered customer service tools leveraging the ChatGPT technology. Additionally, they are building a “Dream Lottery” system. Revenue generated from these products is earmarked for buybacks and burns of both AIPEPE and GPTV tokens, potentially influencing their long-term value.

Staking Opportunities with Attractive Yields

Bitrue is also offering users staking opportunities for those holding BTR, AIPEPE, RSIC, or DOG tokens. By staking their holdings, users can earn rewards in GPTV, with estimated annual percentage yield (APY) varying on the staked token, with BTR offering 22.15%, AIPEPE at 23.18%, RSIC boasting a higher 31.37%, and DOG coming in at 23.62%. These yields present a potentially lucrative opportunity for users to grow their cryptocurrency holdings, but also come with financial risk and the potential for investment to return much lower yields.

Bitrue’s Focus on Community Engagement

The listing of these Bitcoin Runes tokens is a testament to Bitrue’s commitment to its user base. The decision to add these tokens stemmed from a community poll conducted through an X poll on Bitrue’s X account. This highlights the exchange’s dedication to incorporating community feedback into its decision-making process, fostering a sense of collaboration and shared interest.

With the addition of GPTV and the introduction of staking opportunities, Bitrue continues to expand its offerings for users interested in the burgeoning world of Bitcoin Runes tokens. The exchange’s focus on community engagement further strengthens its position as a platform that prioritizes user input and satisfaction.

About Bitrue

Launched in July 2018, Bitrue is a diversified digital asset exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. With offices in Asia and Europe, the business continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.

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Artificial Intelligence


5G Enterprise Market Projected to Reach $115.81 billion by 2030 – Exclusive Report by 360iResearch





 






Published
 6 hours ago 
on
 May 3, 2024





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PUNE, India, May 2, 2024 /PRNewswire/ — The report titled “5G Enterprise Market by Equipment (Distributed Antenna System, Radio Node, Service Node), Organization Size (Large Enterprises, SMEs), End User – 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 $17.30 billion in 2023 to reach $115.81 billion by 2030, at a CAGR of 31.20% over the forecast period.


 

“The Pivotal Role of 5G Technology in Enterprise Evolution”

The advent of 5G technology marks a transformative era for businesses worldwide, offering exceptional speed, reduced latency, and enhanced connectivity that promise to elevate operational efficiency and digital innovation across various sectors. From enabling precise real-time monitoring and predictive maintenance in manufacturing to advancing telemedicine and seamless data collaborations in healthcare, 5G stands as a cornerstone for future advancements. Its pivotal role is revolutionizing transportation by supporting autonomous vehicles and smart infrastructure, significantly elevating safety and efficiency. The surge in 5G enterprise adoption is fueled by the growing need for robust and swift network connections to accommodate an increasing array of Internet of Things (IoT) devices and applications. Challenges include the substantial upfront costs associated with 5G infrastructure and concerns over data security. The potential for 5G to spur innovation is immense, mainly through the development of 5G-as-a-Service (5GaaS) and its synergy with cutting-edge technologies such as edge computing and artificial intelligence. Regionally, North America is major in adoption, supported by significant telecom investments, while the European Union’s concerted efforts bolster 5G integration across industries. The Middle East’s ambitions to become a significant region globally in 5G through smart city and industrial automation investments distinguish it. In contrast, the APAC region’s rapid growth is supported by early adoption and extensive government support, particularly in South Korea, China, and Japan. Thus, 5G is set to redefine enterprise operations, driving innovation and enabling smart solutions globally, heralding a new chapter in digital transformation for industries worldwide.

Download Sample Report @ https://www.360iresearch.com/library/intelligence/5g-enterprise

“5G’s Role in Advancing Industry 4.0 and Digital Innovations”

In today’s fast-evolving digital age, the seamless integration of cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), and blockchain into everyday business operations is becoming increasingly crucial. This integration is driving a significant surge in the need for uninterrupted, high-speed network coverage across various sectors. As technologies become more affordable and their performance enhanced, their adoption in both private and public sectors is witnessing a remarkable increase, paving the way for innovative payment solutions and digital currencies. This transformation reshapes diverse commercial landscapes, including entertainment, journalism, advertising, and retail. Consequently, the demand for 5G connectivity is escalating, recognized for its capability to deliver speeds of 15 to 20 Gbps, connect a vast array of devices, and facilitate the creation of virtual networks tailored to specific needs. Moreover, as Industry 4.0 propels manufacturing into the digital era with its emphasis on automation and digital technologies, the role of 5G in supporting these advancements becomes indispensable. By enabling faster connectivity for AI, data analytics, IoT, blockchain, and machine learning applications, 5G is at the forefront of improving operational efficiency and flexibility in the manufacturing sector, setting the stage for the exponential growth of the 5G enterprise market.

“The Integral Role of Radio Nodes, DAS, and Service Nodes in Enhancing 5G Networks”

In the rapidly evolving world of 5G networks, the harmonious functioning of radio nodes, distributed antenna systems (DAS), and service nodes plays a pivotal role in ensuring uninterrupted, high-speed connectivity across diverse environments. Radio nodes, vital for facilitating direct communication between devices, including smartphones and tablets, ensure the seamless execution of critical radio functions such as modulation and demodulation. They shine especially in areas where a robust, reliable connection is paramount, catering to the needs of densely populated zones. DAS is used in complexes such as stadiums and large buildings, working behind the scenes to boost wireless coverage through a network of strategically placed antenna nodes. This ensures that every corner is connected, enhancing user experience in challenging architectural layouts. Meanwhile, service nodes are the backbone of network management, orchestrating essential functions, including user authentication and mobility management, enabling smooth delivery of services throughout the 5G ecosystem. These components overcome physical and technological hurdles and lay down the infrastructure critical for delivering the next generation of wireless connectivity.

Request Analyst Support @ https://www.360iresearch.com/library/intelligence/5g-enterprise

“Telefonaktiebolaget LM Ericsson at the Forefront of 5G Enterprise Market with a Strong 16.19% Market Share”

The key players in the 5G Enterprise Market include Huawei Technologies Co., Ltd., Deutsche Telekom AG, Nokia Corporation, Telefonaktiebolaget LM Ericsson, AT&T 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 5G Enterprise Market”

We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the 5G Enterprise 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 5G Enterprise Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.

Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/5g-enterprise

“Dive into the 5G Enterprise Market Landscape: Explore 181 Pages of Insights, 298 Tables, and 22 Figures”

PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket Insights5G Enterprise Market, by Equipment5G Enterprise Market, by Organization Size5G Enterprise Market, by End UserAmericas 5G Enterprise MarketAsia-Pacific 5G Enterprise MarketEurope, Middle East & Africa 5G Enterprise MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/5g-enterprise

Related Reports:

5G Non-Terrestrial Network Market – Global Forecast 2024-20305G in Defense Market – Global Forecast 2024-20305G Satellite Communication 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.

Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550

To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.

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