Artificial Intelligence (AI) in Drug Discovery: Industry Analysis, Size, Share, Growth, Trends and Forecast By 2029
The most perfect way to anticipate what future holds is to
understand the trend today and hence Artificial Intelligence (AI) in Drug
Discovery Market report has been structured by chewing over numerous fragments
of the present and upcoming market scenario. The report contains all-embracing
knowledge and information of rapidly changing market landscape, what already
subsists in the market, future trends or market expectations, the competitive
environment, and competitor strategies which assists in planning strategies for
Artificial Intelligence (AI) in Drug Discovery Market industry with which it is
possible to outdo the competitors. The report makes Artificial Intelligence
(AI) in Drug Discovery Market industry well acquainted with thoughtful
knowledge of the global, regional and local market statistics.
Data Bridge Market Research analyzes that the global
Artificial Intelligence (AI) in drug discovery market is expected to reach the
value of USD 24,618.25 million by 2029, at a CAGR of 53.3% during the forecast
period.
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Global Artificial
Intelligence (AI) in Drug Discovery Market Definition
AI has caught the attention and minds of medical technology
practitioners in the past few years, as several companies and major research
laboratories have worked to perfect these technologies for clinical use. The
first commercialized demonstrations of how AI (also known as Deep Learning (DL),
Machine Learning (ML), or Artificial Neural Networks (ANNs)) could assist
clinicians are now available. These systems could lead to a paradigm shift in
clinician workflow and increase productivity while simultaneously enhancing
treatment and patient throughput. AI for drug discovery is a technology that
uses machines to simulate human intelligence to solve complicated challenges in
the drug development procedure. The adoption of AI solutions in the clinical
trial process eliminates possible obstacles, reduces clinical trial cycle time
and increases the productivity and accuracy of the clinical trial process.
Therefore, the adoption of these advanced AI solutions in drug discovery
processes is gaining popularity amongst life science industry stakeholders. In the
pharmaceutical sector, it aids in the discovery of novel compounds, therapeutic
target identification and the development of customized medications. AI
platforms used for drug discovery can prove to be a feasible option for
deriving insights into the discovery of drugs to treat and minimize the
severity of various chronic diseases.
Some of the key players operating in the market are NVIDIA
Corporation, IBM Corp., Atomwise Inc., Microsoft, Benevolent AI, Aria
Pharmaceuticals, Inc., DEEP GENOMICS, Exscientia, Cloud, Insilico Medicine,
Cyclica, NuMedii, Inc., Envisagenics, Owkin Inc., BERG LLC, Schrödinger, Inc.,
XtalPi Inc. and BIOAGE Inc. among others.
Post-COVID-19 Impact
on Global Artificial Intelligence (AI) in Drug Discovery Market
The COVID-19 outbreak had a beneficial impact on the
expansion of AI in drug discovery industry due to its widespread use by various
organizations for the identification as well as screening of existing medicines
used in the treatment of COVID-19. AI is useful in detecting active chemicals
for the prevention of SARS-CoV, HIV, SARS-CoV-2, influenza virus and others.
During the pandemic, economies all over the world relied on AI-based medication
discovery rather than traditional vaccine detection processes, which take years
to create and are equally expensive, contributing to the growth of the market.
Manufacturers are making various strategic decisions to
bounce back post-COVID-19. The players are conducting multiple R&D
activities to improve the technology involved in the Wireless microphone. With
this, the companies will bring advanced and accurate AI software to the market.
Recent Developments
·
In March 2022, NVIDIA Corporation launched Clara
Holoscan MGX to develop and deploy real-time AI applications. Clara Holoscan
MGX expands the Clara Holoscan platform to provide an all-in-one, medical-grade
reference architecture, as well as long-term software support, to accelerate
innovation in the medical device industry. This will help the company for
better AI performance in health sector for surgery, diagnostics and drug
discovery.
·
In May 2022, Benevolent AI, a leading
clinical-stage AI-enabled drug discovery company, announced that AstraZeneca
has selected an additional novel target for Idiopathic Pulmonary Fibrosis (IPF)
for its drug development portfolio, resulting in a milestone payment to
Benevolent AI. This is the third novel
target from the collaboration that has been identified using the Benevolent
Platform across two disease areas, IPF and chronic kidney disease and subsequently
validated and selected for portfolio entry by AstraZeneca. This builds upon the
recent extension of the collaboration with AstraZeneca to include two new
disease areas, systemic lupus erythematosus and heart failure, signed in
January 2022. This has helped the company to make its collaboration stronger.
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TABLE OF CONTENTS
Part
01: Executive Summary
Part
02: Scope of the Report
Part
03: Research Methodology
Part
04: Market Landscape
Part
05: Pipeline Analysis
Part
06: Market Sizing
Part
07: Five Forces Analysis
Part
08: Market Segmentation
Part
09: Customer Landscape
Part
10: Regional Landscape
Part
11: Decision Framework
Part
12: Drivers and Challenges
Part
13: Market Trends
Part
14: Vendor Landscape
Part
15: Vendor Analysis
Part
16: Appendix
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Table and Figures @ https://www.databridgemarketresearch.com/toc/?dbmr=global-artificial-intelligence-ai-in-drug-discovery-market
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