Artificial Intelligence (AI) in Drug
Discovery Market Overview
AI drug discovery has proved itself as
a vital part of the drugs industry. This technology is used for regulating drug
innovation & progress costs and in decreasing the processing time. Fast
adoption and other features will help the global AI in the drug discovery
market to touch a 41% annual growth rate. AI method uses different algorithms
for improving the drug designs, their molecular structures and classification
of various forms of drugs. All of the above features are adding to the tally of
the market and giving it a considerable push to reach new levels of success.
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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 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.
https://www.marketresearchfuture.com/reports/ai-drug-discovery-market-9393
Key Players
- Microsoft Corporation
- IBM
Corporation
- Google
(A Subsidiary of 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
- Berg
LLC
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.
About Market
Research Future:
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Future (MRFR), we enable our customers to unravel the complexity of various
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Market Research
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