Artificial Intelligence
Drug Discovery Informatics Market Size to Grow USD 1 Million by 2030 at a CAGR of 9% | Valuates Reports
BANGALORE, India, June 10, 2024 /PRNewswire/ — Drug Discovery Informatics Market is Segmented by Type (Software, Services), by Application (Pharmaceutical & Biotechnology Companies, Contract Research Organizations (CROs)).
The Global Drug Discovery Informatics Market is anticipated to reach USD 1 Million by 2030, witnessing a CAGR of 9.0% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Drug Discovery Informatics Market:
The desire for tailored treatment, growing investment in pharmaceutical R&D, and technological improvements are the main factors driving the growth of the Drug Discovery Informatics market. The use of machine learning and artificial intelligence in drug development procedures has greatly improved data processing skills and sped up the process of identifying possible therapeutic candidates. The administration and interpretation of enormous volumes of biological and chemical data is made easier by the rise in big data analytics and cloud computing, which propels market development even further. The market’s strong growth is also attributed to regulatory backing and partnerships between pharmaceutical firms and informatics providers, which streamline and improve the efficacy of the drug development pipeline.
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TRENDS INFLUENCING THE GROWTH OF THE DRUG DISCOVERY INFORMATICS MARKET
Because it simplifies and improves several phases of drug development, software employed by pharmaceutical and biotechnology businesses is a major factor driving the growth of the drug discovery informatics industry. By making it easier to handle and analyse large datasets, these cutting-edge software programs help researchers find possible medication candidates more rapidly and precisely. These technologies enhance target identification, lead optimization, and predictive modelling by combining AI, machine learning, and big data analytics, thereby speeding up the drug development process. They also provide improved platforms for cooperation, which provide improved data exchange and communication amongst research teams located in different places. This technology integration boosts the likelihood of successful outcomes while also cutting down on the time and expenses related to drug research, which drives the expansion of the drug discovery informatics field.
The market for drug discovery informatics is expanding at a substantial rate due to services utilized by Contract Research Organizations (CROs), which offer superior technology capabilities and specialized experience to improve the drug development process. Pharmaceutical and biotechnology businesses can outsource important parts of their research thanks to CROs’ array of informatics services, which includes data administration, computer modelling, and bioinformatics analysis. Through outsourcing, these businesses may access state-of-the-art informatics tools and knowledge without having to make substantial internal investments. Through the utilisation of CROs’ advanced data analytics and management skills, businesses may expedite their drug discovery timelines, enhance data precision, and optimise resource distribution. This partnership not only boosts the efficacy and efficiency of drug research initiatives, but it also raises demand for sophisticated informatics solutions.
The market for drug discovery informatics is also growing as a result of the emergence of precision medicine. Precision medicine seeks to customise medical care to each patient’s unique attributes, including genetic composition, way of life, and surroundings. This method makes extensive use of informatics technologies to evaluate patient data and find tailored therapy solutions. In order to find biomarkers, comprehend genetic variances, and create tailored medicines that work better and have fewer adverse effects, drug discovery informatics is essential. The need for sophisticated informatics solutions that can support precision medicine initiatives is being driven by the growing emphasis on individualised treatment plans. Pharmaceutical sector transformation is being aided by drug discovery informatics, which facilitates the creation of more targeted and customised medicines.
Another important element driving the industry ahead is the growing use of machine learning (ML) and artificial intelligence (AI) in drug discovery. Large datasets can be analysed by AI and ML algorithms more rapidly and correctly than by traditional approaches, and they may spot patterns and links that human researchers would overlook. These technologies are very helpful in the early phases of drug development, such as target validation and identification, since they may be used to forecast the potential efficacy of novel therapeutic targets. Through the prediction of patient reactions and the identification of ideal dosage regimens, AI-driven systems may help optimise the design of clinical trials. This speeds up the entire drug development process and raises the success rates of clinical trials.
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DRUG DISCOVERY INFORMATICS MARKET SHARE ANALYSIS
Because of its strong pharmaceutical sector, large R&D expenditures, and early adoption of cutting-edge technology, North America is a market leader in drug discovery informatics. Leading biotechnology corporations, pharmaceutical companies, and research institutes at the forefront of drug development are mostly located in the United States.
The area promotes the development and integration of cutting-edge informatics solutions with its strong emphasis on innovation and significant investment from both the public and commercial sectors. North America leads the world in drug discovery informatics due in part to the availability of a highly qualified labour force and strong partnerships between academia and business. Consequently, the area keeps witnessing noteworthy progressions in informatics instruments and technologies, augmenting the efficacy and efficiency.
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Key Companies:
IBMINFOSYS LIMITEDThermo Fisher ScientificPerkinElmer IncSchrödingerCharles River LaboratoriesSelvita S.ACertaraGVK BiosciencesCollaborative Drug DiscoveryOpenEye Scientific SoftwareIO InformaticsNovo InformaticsDassaultDassault SystèmesPurchase Chapters: https://reports.valuates.com/market-reports/QYRE-Auto-14V4103/global-drug-discovery-informatics/1
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Artificial Intelligence
Aidoc and Integral Diagnostics (IDX) Expand AI Partnership in Australia and New Zealand
Aidoc’s AI technology enhances radiology services at IDX, significantly improving patient care and service and well-placed to support the upcoming National Lung Cancer Screening Program.
MELBOURNE, Australia, Oct. 15, 2024 /PRNewswire/ — Aidoc, a global pioneer in clinical AI solutions, today announced the expansion of its partnership with Integral Diagnostics (IDX), the leading provider of AI-driven medical imaging services, across Australia and New Zealand. This enhanced collaboration, which started four years ago, leverages Aidoc’s award-winning aiOS™ platform to alert radiologists and care teams to suspected and unsuspected critical findings in medical images, prioritising abnormal findings and improving the quality and timeliness of patient care across the region.
Aidoc’s AI technology has firmly positioned IDX as the market leader in AI-driven medical imaging in Australia and New Zealand, with its aiOS™ platform automatically flagging critical pathologies, including brain aneurysms, pulmonary embolisms, stroke, and brain bleeds.
Since 2019, Aidoc has processed over 600,000 cases across IDX’s entire network, including its partner facilities and hospitals. By augmenting radiologists’ workflows, it enables prioritization of life-threatening cases when these are detected by the AI, leading to improved care and efficiency, and ultimately facilitating faster, life-saving treatments for patients.
Looking ahead, significant advancements are on the horizon. Starting July 2025, the Australian Government will fund the National Lung Cancer Screening Programme (NLCSP), a crucial step in early detection of lung cancer. IDX is currently trialling a new algorithm within Aidoc’s aiOS™ platform designed to notify radiologists of lung nodules and measure them accurately, enabling earlier and appropriate intervention for lung cancer.
“Aidoc’s AI has significantly improved patient care and service. We’re keen to test and use their Chest CT AI algorithms to automate our reviews in the National Lung Cancer Screening Programme to enable us to detect disease earlier, more accurately and more efficiently”, said Dr. Ian Kadish, CEO and Managing Director at Integral Diagnostics.
Already widely adopted across the United States and Europe, Aidoc’s AI aiOS™ platform analyses over 3 million patients monthly and is backed by more than 150 published papers and abstracts. These demonstrate its proven ability to reduce costs, improve patient outcomes and increase efficiency, making it a leader in AI-powered radiology.
This partnership between Aidoc and IDX represents not just a technological leap forward but a shift in how radiology will evolve in the years to come. With AI seamlessly integrated into workflows, healthcare providers can focus on delivering the highest level of patient care. Aidoc and IDX are shaping the future of medical imaging, with early detection, improved patient outcomes and improved healthcare efficiency.
“Our partnership with Integral Diagnostics underscores our commitment to driving better health outcomes,” said Rotem Geslevich, Senior Director of Business Development at Aidoc. “As the Lung Cancer Screening initiative approaches, we are excited to play a pivotal role in saving lives.”
Both Aidoc and Integral Diagnostics will be featured at the RANZCR conference in Perth from 17-19 October 2024. Attendees can learn more about the evolving role of AI in radiology and its positive impact on patient care across Australia and New Zealand.
About Aidoc
Aidoc is a pioneering force in clinical AI. Aidoc focuses on aiding and empowering healthcare teams to optimize patient treatment, which results in improved economic value and clinical outcomes. Built on Aidoc’s proprietary aiOS™, Aidoc analyses and aggregates medical data to enable care teams to operationalize the unexpected and work seamlessly with a continued focus on the patient. Used in more than 1,000 medical centers worldwide, Aidoc has the most TGA clearances in clinical AI and its AI-based solutions cover 75 percent of patient populations, enabling physicians to make informed decisions based on real-time data.
Visit www.Aidoc.com to see how we are connecting all points of care with always-on AI.
About IDX
Integral Diagnostics (IDX) is a leading provider of medical imaging services across Australia and New Zealand. IDX employs some of Australasia’s leading radiologists and diagnostic imaging specialists in a unique medical leadership model that ensures quality patient care, service and access. Good medicine is good business. For more information, please visit www.integraldiagnostics.com.au/.
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Artificial Intelligence
Arcadis supports PICQS QS Summit 2024 in Manila as Gold Sponsor
MANILA, Philippines, Oct. 15, 2024 /PRNewswire/ — Arcadis, the leading global design and consultancy firm for natural and built assets, is proud to announce its participation at the upcoming QS Summit 2024 as Gold Sponsor. It is the biggest gathering of Filipino quantity surveyors in the country, organized by the Philippine Institute of Certified Quantity Surveyors (PICQS), Inc.
The summit, themed “The Evolving Role of Quantity Surveyors in Shaping a Smart and Greener Future”, will take place on 19 October at AIM Conference Center, Makati City, Philippines.
This year the event will explore how quantity surveyors and their allied professions practice their roles in terms of sustainable cost and project management, utilization of digital solutions and enhanced sustainability, with less risk to the environment. The event provides a valuable platform for industry leaders to discuss critical trends and advancements shaping the future of the profession.
With over thirty years’ experience in quantity surveying and cost and commercial management in the Philippines, Arcadis has established itself as one of the leading consultants in the country. As forerunners in the industry, Arcadis has been instrumental in helping shape the Philippine construction landscape, contributing to the development of iconic, game-changing and sustainable projects since the 1990s. Arcadis’ sponsorship of the QS Summit 2024 underscores its commitment to supporting the professional growth of Filipino quantity surveyors, enabling them to meet the demands of a rapidly evolving industry and contribute to a sustainable future.
In addition to sponsorship, Arcadis will be speaking at the Summit alongside other industry practitioners. Country Director Darneil Perez will join a panel discussion titled “Digital Transformation (AI and Digital Technology Adoption) – Where are We Now and Where are We Heading?”. Together with consultants, developers and contractors, Darneil will offer valuable perspectives on the challenges and opportunities facing the Philippine construction industry in terms of technological advancements, global trends and national development goals.
PICQS, Inc. is an all-Filipino organization comprised of members of the Royal Institution of Chartered Surveyors (RICS); members of the Australian Institute of Quantity Surveyors (AIQS); student and trainee members of RICS; chartered members of internationally recognized QS professional bodies; QS-trained engineers working toward their QS Study; Assessment of Professional Competence (APC) and Assessment of Technical Competence (ATC) toward chartered membership.
About Arcadis
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Artificial Intelligence
Glancing into Tomorrow at GITEX: e& UAE’S Vision for a Smarter, AI-powered Future
DUBAI, UAE, Oct. 14, 2024 /PRNewswire/ — As e& UAE prepares to make an impact at GITEX Global, the company’s momentum is undeniable. Fresh off the heels of being crowned ‘World’s Fastest 5G Network’ by Ookla, e& UAE is poised to showcase the cutting-edge innovations stemming from its state-of-the-art telco core.
e& UAE serves 5G to 12 million active users every day bringing to the forefront of global connectivity. “High-speed networks are crucial for connecting the dots between AI components, including transferring data and accessing cloud-based resources,” says Masood. “In essence, AI is a product of a sophisticated infrastructure that combines hardware, software, and networking to enable the development and deployment of intelligent systems,” Masood says.
For e& UAE, this means continually embracing AI as a key component of its innovation strategy. The company has a successful history of implementing AI solutions to drive productivity and enhance customer experiences, and, as Masood puts it, “AI is where we see the real potential for transformation.”
It’s with this vision in mind that e& UAE plans to make its mark at GITEX, showcasing its latest AI innovations and demonstrating its leadership in the digital landscape.
More than a telco: e& UAE’s digital leap
“AI is embedded across our operations, enabling smarter, faster decision-making and driving new efficiencies in business and customer service,” he says. e& UAE was a pioneer in adopting AI internally, but its true impact lies in delivering exceptional digital experiences to customers. A prime example is EASE, the world’s first autonomous telecom retail experience, launched at GITEX last year. Since then, e& UAE has rapidly expanded the reach and capabilities of this innovative concept, demonstrating its commitment to leveraging AI for customer-centric solutions.
The company is actively building its reputation as a digital leader, offering cutting-edge connectivity solutions powered by 5G and AI and IoT integrations. This strategic shift is at the heart of e& UAE’s participation at GITEX, where the company will showcase its innovative digital offerings and vision for the future.
GITEX spotlight
“We’re thrilled to be part of GITEX, an exciting showcase of the future where the world’s greatest minds come together to envision and shape the technology of a better tomorrow,” Masood says.
In addition to the latest smart home solutions and drone technology, its showcase will include advanced applications in AI, augmented reality, and 5G technology, reflecting its commitment to digital transformation. One of the standout features will be the Hologram Customer Service Avatar, which aims to provide an interactive customer experience. This avatar will utilise ultra-HD, intelligent capabilities to facilitate real-time interactions, allowing users to engage with services in a more immersive manner. The integration of 5G New Calling technology will further enhance user experience by offering visualised voice calling, real-time translation, and multimedia content during calls.
Continuing the tradition of announcing 5G milestones at previous GITEX events, e& UAE announced network speed upgrades including the fastest aggregated 5G-Advanced speed of 62Gbps. Demonstrating its commitment to 5G leadership, e& UAE will also highlight its achievement as the largest 5G-Advanced commercial network in the MENA region, with over 1,000 operational sites. This milestone marks the dawn of the 10G era, delivering unparalleled speeds and ultra-low latency that will redefine digital experiences. At GITEX, it will not only showcase its impressive technological advancements but also unveil strategic partnerships that align with its vision for a digital future. Building upon the success of its 5G private network deployment in the oil and gas sector with ADNOC, the company is now expanding its reach in more industries.
“The success of AI, IoT, and 5G depends on building an ecosystem of innovation. That means working closely with tech giants, startups, and government entities to ensure we’re building the right solutions for the future,” says Masood.
Making networks AI-ready
At the heart of e& UAE’s mission to pioneer the digital frontier in the UAE lies a firm commitment to high-speed connectivity. For example, 50G-PON, the next generation of high-speed connectivity, promises to revolutionise internet connectivity, delivering unprecedented capacity and considerably speeding things up for consumers and businesses.
“Our strategy is rooted in a profound belief that we can achieve more for the people and communities we serve—drive more growth, create more opportunities, and have a greater impact—infused with a passion for excellence. As we evolve beyond traditional telecom, we are enhancing our services and tailoring our offerings to meet the diverse needs of our customers.
The UAE’s global leadership in broadband and mobile speeds, as recognised by Ookla, is significantly attributed to the contributions of e& UAE. “We are part of the UAE fabric, and we stand with the country, helping to build a stronger, more connected society,” Masood concludes.
Contact details: Nancy Sudheer, Senior Manager at e&, [email protected]
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