The AI in drug discovery market is
growing continually. Artificial intelligence technology has the potential to
revolutionize the pharmaceutical sector and open whole new avenues for
technology providers. Resultantly, the adoption of the AI technology to boost
efficiency and throughput in clinician workflow is rising steadily. Moreover,
the growing applications of AI technology in various drug discovery and
development process escalate the market demand to furthered height.
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According to Market Research Future (MRFR), the
global AI in drug discovery market is poised to create a valuation
of USD 2,015.1 MN by 2025, registering a massive 40.8% CAGR throughout
the predicted years (2019 – 2025). Recent COVID 19 pandemic is projected to
boost the size of the market. AI and machine learning integration in discovery
and development applications are increasing to expedite drug development
processes.
Also, substantial investments made into AI business
are projected to boost the market growth. AI integration minimizes the risk of
adverse reactions during trials, reduces the drug discovery timeframe, and,
most importantly, reduces drug development costs. Machine learning and other AI
tools have a vast potential to make the discovery of new pharmaceuticals faster,
cheaper, and more productively. As a result, major pharma companies are
increasingly using AI technology for drug discovery.
Moreover, rising numbers of start-ups operating in
the AI spectrum drug discovery foster market growth. Simultaneously, increasing
numbers of cross-industry partnerships formed to achieve improvements in drug
development outcomes drive the growth of the market. On the other hand, high
costs associated with AI integration are a major factor estimated to hamper the
market growth. Also, the lack of adequate infrastructure in low economic
countries obstructs the growth of the market.
AI in Drug Discovery Market – Segments
The report is segmented
into seven dynamics;
By Product Type : Services and Software.
By Molecule Type: Large and Small Molecules.
By Technology :
Machine Learning, Deep
Learning, and others.
By Indication :
Immuno-oncology,
Neurodegenerative
Diseases, Cardiovascular Diseases, Metabolic Diseases, and others.
By Application :
Target Identification, Candidate Screening, De novo Drug Designing,
Drug Optimization & Repurposing, Preclinical Testing, and others.
By End-User :
Pharmaceutical
& Biotechnology Companies, Research Centers and Academic & Government
Institutes, Contract Research Organizations, and others.
By Regions : Americas, Europe, Asia Pacific,
and Rest-of-the-World.
AI in Drug Discovery Market – Regional
Analysis
North America dominates the global AI in drug
discovery market. Market share attributes to the increasing prevalence of
chronic diseases and high healthcare expenses. Moreover, the recent COVID 19
pandemic is estimated to increase the size of the regional market. Besides,
factors such as the presence of growing numbers of big AI platform developers
and a well-developed healthcare sector in the region allow rapid market growth.
Increasing adoption of top AI platforms, including
Google AI, Microsoft Azure, and TensorFlow by major pharma companies in drug
discovery processes, boost the regional market growth. Moreover, increasing
demand for Artificial Intelligence technologies from key pharmaceutical
companies such as AbbVie, Genentech, Eli Lilly and Company, and Amgen, among
others, drive the growth of the market.
Europe stands second in the global AI in drug
discovery market. Market growth is driven by the increasing R&D activities
in the pharma sector and the high demand for AI solutions by drug development
companies. Top pharma companies in the region form strategic partnerships with
international AI service providers to expedite their drug discovery process,
which, in turn, boosts the market growth. The UK, Germany, and France are the
major growth contributors to the regional market.
Additionally, substantial R&D investments and
increasing government funding in the development of AI technology foster
regional market growth. Furthermore, the recent COVID 19 epidemic is estimated
to increase the size of the regional market. Besides, strategic deals between
the UK government and industry players are expected to increase AI research
investments. The European AI in the drug discovery market is projected to
create a substantial revenue pocket.
The Asia Pacific AI in drug discovery market is
estimated to become the fastest-growing market. Factors such as the increasing
demand for effective drug discovery solutions and rapidly growing
pharmaceutical sectors in the region drive market growth. A number of start-ups
in the region are working to integrate AI applications in
drug discovery Market. It is
predicted that the adoption of AI technologies in mainstream drug discovery
protocols will take place in the future. With their increasing numbers of AI
platform companies, countries like India and China contribute significantly to
the regional market growth.
AI in Drug Discovery Market - Competitive Analysis
The global AI in drug discovery market appears
fiercely competitive & fragmented due to the presence of numerous
well-established players. To gain a larger competitive advantage in the market,
these players incorporate strategic initiatives such as mergers & acquisitions,
collaborations, technology launch, and expansion. Also, AI drug discovery
companies make substantial investments to R&D and drive clinical
studies.
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Major Players:
Players leading the global AI in drug
discovery market include Microsoft Corporation, IBM Corporation, Alphabet Inc.,
Atomwise, Inc., Deep Genomics, Cloud Pharmaceuticals, Inc., Insilico Medicine,
BenevolentAI, Exscientia, Cyclica, Bioage, Numerate, Numedii, Inc.,
Envisagenics, Twoxar, Incorporated, Owkin, Inc., Xtalpi, Inc., Verge Genomics,
and Berg LLC, among others.
Innovation/Industry/Related News:
June 01, 2020 ---- Syntekabio Inc. (South Korea), a bioinformatics
venture firm and AI drug Development Company, announced the identification of a
respiratory disease drug as a potential COVID19 therapeutics. The crystal
structure of SARS-CoV-2’s 3CL protease (Mpro) is the main viral protease that
plays a crucial role in viral gene expression and proliferation of the
SARS-CoV-2 virus. As soon as this structural information became available,
Syntekabio commenced AI screening using its proprietary AI platform
DeepMatcherTM and supercomputer. The company screened 3,000 approved drugs and
identified potential COVID-19 therapeutics.
NOTE: Our team of researchers are studying Covid19 and its
impact on various industry verticals and wherever required we will be
considering covid19 footprints for a better analysis of markets and industries.
Cordially get in touch for more details.
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Contact:
Akash Anand
Market Research Future
+1 646 845 9312
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