Astute Analytica’s recent report on the global AI in Drug Discovery Market comprehensively examines the factors set to influence the market’s future trajectory. The report encompasses various sections, including Market Overview, Trends, Key Players, Segments, and more. Additionally, it provides insights into previous innovations and ongoing developments to offer a holistic view of emerging trends.
Market Overview of AI in Drug Discovery Market
The AI in Drug Discovery Market is rising at a global level with growing investment in healthcare infrastructure. The AI in Drug Discovery Market is expected to reach USD 8.10 billion by 2030, growing at a CAGR of 25% during the forecast period 2023-2030.
The key points of artificial intelligence (AI) in the pharmaceutical industry
Leveraging AI in Drug Discovery: The content highlights how AI is increasingly being used to streamline various aspects of drug discovery, from initial drug design to preclinical testing and clinical trials. AI’s ability to process vast amounts of data efficiently and make predictions is seen as a game-changer in the industry.
Cost and Time Reduction: One of the significant benefits of AI in drug discovery is its potential to reduce the time and cost associated with developing new drugs. It’s mentioned that drug development can take up to ten years and cost billions of dollars. AI has the potential to expedite this process by identifying promising candidates more quickly and efficiently.
Market Growth: The content discusses how the adoption of AI in pharmaceuticals is driving market growth. As the pharmaceutical industry seeks ways to cut costs and accelerate drug development, AI solutions are becoming increasingly attractive.
McKinsey’s Perspective: The content cites the McKinsey Global Institute’s perspective, emphasizing the transformative impact of AI-guided automation on work culture and processes across various industries, including pharmaceuticals.
Benefits and Applications: It outlines the various benefits of AI in drug discovery, including its ability to process and analyze large datasets, make predictions, and enhance productivity. The content also mentions AI’s role in drug repurposing, workload reduction, and overall efficiency improvement in the pharmaceutical sector.
Challenges Addressed: The content indirectly addresses the challenges faced by the pharmaceutical industry, such as the high cost and time required for drug development and the need for more efficient processes. AI is presented as a solution to address these challenges.
Key Players of AI in Drug Discovery Market
IBM Corporation
Microsoft Corporation
Google
NVIDIA Corporation
Cloud Pharmaceuticals, Inc.
Indivumed GmbH
Deep Genomics
Atomwise, Inc.
Insilico Medicine
Exscientia, Bioage
Envisagenics
Segmentation of AI in Drug Discovery Market
The global AI in drug discovery market can be segmented on the basis of the following segments:
By Offering
Software
Service
By Technology
Machine Learning
Deep Learning
Supervised Learning
Reinforcement Learning
Unsupervised Learning
Other Machine Learning Technologies
Others Technologies
By Application
Drug optimization and repurposing
Preclinical testing
Others
By Therapeutic Area
Cardiovascular Disease
Infectious Disease
Metabolic Diseases
Neurodegenerative Diseases
Oncology
Others
By End-User
Contract Research Organizations
Pharmaceutical & Biotechnology Companies
Research Centres and Academic & Government Institutes
Conclusion
The AI in Drug Discovery market is undergoing a significant transformation, driven by artificial intelligence’s potential to enhance efficiency and reduce costs in pharmaceutical development. AI’s versatility spans various stages of drug discovery, promising to streamline processes and accelerate the identification of promising candidates.
This adoption of AI is fueling market growth, aligning with the goals of pharmaceutical stakeholders, and is expected to reshape work culture across industries. Overall, AI holds immense promise in revolutionizing drug discovery, offering more cost-effective and efficient solutions to complex medical challenges, benefiting both the industry and patients alike.
Content Source: AI in Drug Discovery Market
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