AI in Drug Discovery Market Overview
Artificial intelligence (AI) has become an integral part of the drug discovery procedures as they are capable of unfolding the new aspects and are less time consuming, which makes them suitable for developing new products. This technique has found its primary usage in developing drugs for most complex diseases like pancreatic cancer and others. It has less faulty mechanisms and reduces any human-powered mistakes. All the factors mentioned above have attracted medical professionals, providing an instant and constant boost to this market.
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The pharmaceuticals and IT industries are collaborating to make this technology cheap and effective, which has helped the market gain desired growth. After observing the market and seeing the potentials, the major market players make hefty investments in AI, which has boosted the market and expanded the market stakes at the same time. As technology advances, the success rates are also increasing, which has increased its adoption, followed by increasing awareness in the developing regions.
Apart from the uses and features, the global AI in drug discovery market faces challenges from the high costs, lack of skilled personnel, and struggling healthcare system in weaker economies, which has degraded the market’s overall growth. This report provides a comprehensive outlook on competition, opportunities, drivers & restraints, and other factors affecting the local and global AI in drug discovery market. The global market is anticipated to register approximately a 40 % annual growth during this period.
AI in Drug Discovery Market Division
The global AI in drug discovery market is segmented into classes as follows:
The global AI in drug discovery market is segmented by software and services based on products.
The global AI in drug discovery market is segmented by large and small molecules based on molecule types.
Based on technology, the global AI in drug discovery market is segmented into deep learning, machine learning, and others.
Based on indication, the global AI in drug discovery market is segmented into neurodegenerative diseases, metabolic diseases, and others.
Based on applications, the global AI in drug discovery market is segmented into target screening, drug optimization, repurposing, and others.
AI in Drug Discovery Market Regional Classification
The AI in drug discovery market has gained global adoption due to its increase in chronic diseases, demands for better drugs, and a rise in healthcare standards. The Asia Pacific, North America, Europe, and the rest of the world are the major market studies for global AI in drug discovery market. The North American region is leading the market due to the presence of key manufacturers, demands for advanced technologies, increasing research & development activities, a well-established healthcare system, rigid regulations, and other factors. The Asia Pacific region will register the fastest growth rates due to the vast population covers, rapid urbanization, fast-developing healthcare systems, increasing health issues, and other factors.
AI in Drug Discovery Market Studied by Top Leaders
Industry News
The global AI in drug discovery market has gained instant growth and is constantly moving towards stable future stances. The global market is led by the North American region, whereas the Asia Pacific region will register the fastest growth.
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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
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