Artificial Intelligence in Drug Discovery Market size was estimated at $0.4 Million in 2019 and is expected to reach $4.3 Million by 2027, growing at a CAGR of % during the forecast period of 2020 to 2027.
Artificial Intelligence, or AI, is a process of acquiring data and developing rules for its use alongside drawing both definite or approximate conclusions, and methods of self-correction. It is a practical solution to the different challenges that Pharmaceutical Industries face with regards to the cost of Research and Development and reduced efficiency. It is the use of personified knowledge to gain expertise from different solutions, thereby addressing specific and intricate issues. It helps in reducing the significant attrition rates and improves the efficiency of the various drug development processes.
Artificial Intelligence (A.I.) in Drug Discovery Market Growth Factors
What started as a hype has now turned into hope for the growth and development of the pharmaceutical industries. The increasing value of cross-industry collaborations and partnerships, reduction in the overall time, need for controlling drug discovery, and development costs and patent expiry date of the drugs have contributed to a rise of the Artificial Intelligence in Drug Discovery Market. According to the forecasts, the market is about to witness tremendous growth opportunities with the surge in emerging markets and biotechnological industry. The market valued at 259 million USD in 2019, is expected to grow at a CAGR of 40.8% with an estimated valuation of 1,434 million USD by 2024. IBM Corporation (US), Microsoft (US), and Google (US) are expected to be the market key-players contributing towards maximum growth factors of the industry. Therefore, the industry is all set to witness a surging rise in the forecast period through 2020-2024.
Artificial Intelligence (A.I.) in Drug Discovery Market Segmentation
Artificial Intelligence (A.I.) in Drug Discovery Market Country Analysis
The global market for artificial intelligence in drug discovery is expected to get to $ 1,434 million by 2024. This market growth will be as a result of an increase in partnerships and collaborations across industries leading to control in drug discovery efforts. Countries such as Canada, the United States, and Mexico have been at the forefront in the adoption of artificial intelligence in drug discovery making North America the largest market share. IBM Corporation is the top player in artificial intelligence in drug discovery having developed cutting-edge solutions. Although, the expansion in the biotechnology sectors is bound to usher in other key market leaders such as Verge Genomics, Microsoft, Insilico Medicine, Cyclica, BenevolentAI, and Numerate.
Artificial Intelligence (A.I.) in Drug Discovery Market Share and Competition
Key companies operating in this industry are:
IBM Corporation (US), Microsoft (US), Google (US), NVIDIA Corporation (US), Atomwise, Inc. (US), Deep Genomics (Canada), Cloud Pharmaceuticals (US), Insilico Medicine (US), Benevolent AI (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).
Mentan.AI, an artificial intelligence solutions provider and manufacturer, has recently announced that it has launched a new platform bringing AI and Quantum Computing to Drug Discovery in June 2020. “As a drug modality [peptides] are quite new, until recently it was really hard to design them computationally and people tried to focus on genetically modifying them.”, said Hans Melo, Cofounder of the AI Tech company Mentan.AI. Two AI tech companies providing solutions in Drug Discovery, Repurpose AI and Scripps Research Co., has announced a merger in June 2020.
An AI drug discovery company, Recursion, has announced on 17 June 2020, that it is reengineering its massive data analyses platforms with DDN’s storage solutions. This partnership will increase the accuracy of data analyzed and stored and has increased the demand of Recursion’s data analytics platform in the drug industry. A partnership of two AI tech companies, Exscientia and Sumitomo Dainippon Pharma, have proudly announced their AI platform’s contribution in the drug discovery industry on 30 January 2020. The AI of the two partnered companies has ‘invented’ a drug molecule that will be set to human trials. This is for the first time in history that an AI created medicine will be used on humans.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Offering Analysis (Revenue, USD Million, 2020 - 2027)
• Software
• Services
Technology Analysis (Revenue, USD Million, 2020 - 2027)
• Machine Learning
o Deep Learning
o Supervised Learning
o Reinforcement Learning
o Unsupervised Learning
o Other Machine Learning Technologies
• Others Technologies
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Immuno-oncology
• Neurodegenerative Diseases
• Cardiovascular Diseases
• Metabolic Diseases
• Other Applications
End User Analysis (Revenue, USD Million, 2020 - 2027)
• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations
• Research Centers and Academic & Government Institutes
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Artificial Intelligence (A.I.) in Drug Discovery Market Companies
• IBM Corporation (US)
• Microsoft (US)
• Google (US)
• NVIDIA Corporation (US)
• Atomwise, Inc. (US)
• Deep Genomics (Canada)
• Cloud Pharmaceuticals (US)
• Insilico Medicine (US)
• Benevolent AI (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)
Available Versions:-
United States Artificial Intelligence (A.I.) in Drug Discovery Market Industry Research Report
Europe Artificial Intelligence (A.I.) in Drug Discovery Market Industry Research Report
Asia Pacific Artificial Intelligence (A.I.) in Drug Discovery Market Industry Research Report
