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Global Artificial Intelligence Market was growing at a CAGR of 37.67% during the forecast period from 2022 to 2027

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Global Artificial Intelligence Market was growing at a CAGR of 37.67% during the forecast period from 2022 to 2027

July 28
20:36 2022
Global Artificial Intelligence Market was growing at a CAGR of 37.67% during the forecast period from 2022 to 2027

Global Artificial Intelligence Market was growing at a CAGR of 37.67% during the forecast period from 2022 to 2027. The AI in drug discovery market is witnessing a positive market growth owing to the factors such as rising prevalence of various diseases across the globe which have necessitated the need for faster development of highly safe and efficacious drugs. Moreover, the realization of the advantages of AI in pharmaceutical sector is further motivating pharma companies and institutes to further invest in drug research and development. Additionally, the extensive partnerships and collaborations between public and private entities and both national and international levels are further expected to boost the AI in drug discovery market.

 

Artificial Intelligence Overview

Artificial intelligence (AI) in drug discovery is the utilization of advanced computing techniques such machine learning, artificial neural networks, and natural language processing to process large amounts of data to help with target, lead identification and other required inputs for drug discovery and development.

 

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Recent Developmental Activities in Artificial Intelligence Market:

  • In January 2022, Sanofi entered into a research collaboration with Exscientia, which uses artificial intelligence to discover new drug candidates that could be worth up to USD 5.2 billion for the latter company.
  • In December 2021, Insilico Medicine announced the start of the world’s first Phase I clinical trial of a drug developed from scratch using AI. Its end-to-end platform applies AI to biology for target discovery, and to chemistry for drug design. The AI-designed drug is a small-molecule inhibitor and is developed for the treatment of idiopathic pulmonary fibrosis.
  • In November 2021, Alphabet Inc. announced the launch of a new company- Isomorphic Laboratories which will leverage AI for drug discovery.

 

Key Takeaways from the Artificial Intelligence Market Report Study

  • Market size analysis for current AI in 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 AI in drug discovery market.
  • Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
  • Key companies dominating the global AI in drug discovery market.
  • Various opportunities available for the other competitors in the AI in drug discovery market space.
  • What are the top performing segments in 2021? How these segments will perform in 2027.
  • Which is the top-performing regions and countries in the current AI in drug discovery market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for AI in drug discovery market growth in the coming future?

 

COVID19 Impact on Artificial Intelligence Market

The AI in drug discovery market was one of the few markets that witnessed positive growth during the COVID-19 pandemic. Artificial intelligence platform was extensively leveraged in drug research for SARS CoV-2 virus.  AI was also leveraged in drug repurposing, also known as drug repositioning helping in getting specific therapies to the market. For instance, Remdesivir was originally discovered as the potential treatment for Ebola virus disease; using drug repurposing via AI showed the drug to provide promising results in the treatment of the COVID-19 infection. Therefore, the market for AI in drug discovery exhibited positive trend during the pandemic thereby presenting a future outlook for AI in drug discovery during the forecast period from 2022-2027.

 

Artificial Intelligence Market

One of the key aspects influencing the growth of the AI in drug discovery market can be 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, the authorized drug reaches the market for end use. 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 period. 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 AI 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 including AI in drug discovery process helping in faster identification of targets, lead compounds and subsequent development of drug, thereby presenting a positive growth outlook for the AI in drug discovery market during the forecast period (2022-2027).

 

Artificial Intelligence Market Segment Analysis:

  • Artificial Intelligence Market by Type (De Novo Drug Design and Optimization, Preclinical Testing, and Others),
  • Artificial Intelligence Market by Application (Oncology, Cardiovascular, Infection Diseases, and Others),
  • Artificial Intelligence Market by End User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, and Others),
  • Artificial Intelligence Market by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

 

North America is estimated to amass the largest revenue share in the global Artificial Intelligence market in the year 2021

This can be ascribed to the presence of large patient population associated with various diseases including cancers, neurological disorders which in turn drive the demand for various drugs with minimal side effects. Moreover, the extensive focus on clinical research and the presence of key players in the region from both the pharmaceutical as well as the technology domains further help in the growth of the North America AI in drug discovery market.

 

Artificial Intelligence Market Growth Factors

One of the key supporting factors for the growth of the North America AI in drug discovery market is the increasing prevalence of various diseases across the region. For instance, one of the prominent reasons for the requirement for high number of drugs in the surge in the prevalence of cancers in the United States.  As per the figures mentioned by the American Cancer Society, in 2021, it was estimated that 1.9 million new cancer cases would have been diagnosed in the United States. The data provided by the Centers for Disease Control and Prevention (2021), in 2018, 1,708,921 new cases of cancers were reported. For instance, 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 increasing incidence of cancers such as breast cancer along with other cancer types in the country is expected to further drive the demand for AI in drug discovery. In order to leverage the same, the National Cancer Institute (NCI), based in the United States, The Cancer Moonshoot in partnership with the Department of Energy (DOE) is supporting two major partnerships to leverage their supercomputing abilities to support cancer research by identifying and interpret features of target molecules that support cancer development and the second initiative being the RAS initiative to study the interaction of KRAS protein with the cell membrane using computational methods. Therefore, the rising prevalence of cancers in the country is boosting the development of cancer drug development, thereby providing conducive environment for the AI in drug discovery market to grow in the United States.

 

Artificial Intelligence Market Companies

Some of the key market players operating in the AI in drug discovery market includes IBM Corporation, NuMedii Inc, Deep Genomics, NVIDIA Corporation., Atomwise Inc., Cloud Pharmaceuticals, Inc, Alphabet Inc (Deep Mind), Insilico Medicine, BenevolentAI, Exscientia, Cyclica., Valo Health Owkin, Verge Genomics, BioSymetics., and BeiGene others.

 

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Table of Content

1. AI in Drug Discovery Market Report Introduction

2. AI in Drug Discovery Market Executive Summary

3. Regulatory and Patent Analysis

4. AI in Drug Discovery Market Key Factors Analysis

5. AI in Drug Discovery Market Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on AI in Drug Discovery Market

7. AI in Drug Discovery Market Layout

8. AI in Drug Discovery Market Company and Product Profiles

9. KOL Views

10. Project Approach

11. About DelveInsight

12. Disclaimer & Contact Us

 

About Us

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