The global AI in drug discovery market is projected to reach USD 1,434 million by 2026 from USD 259 million in 2019, at a CAGR of +41% during the forecast period (2019–2026).
Drug discovery is the preliminary step in the process of a novel drug identification and its therapeutic target. Artificial intelligence (AI) is commonly used in the healthcare industry for drug discovery. Artificial intelligence technology has the ability to recognize drug targets, and play a significant role in drug design, discovery, identification and screening of molecules instantly and effectively. Drug discovery or new drug target are being estimated based on potency, bioavailability, efficacy, and toxicity.
The AI for drug discovery market is expected to grow during the forecast period due to the increasing number of cross-industry partnerships & collaborations, a significant growth in venture capital investments, rise in importance of drug discovery and increase in funding of the R&D activities for the use of AI technology in the field of drug discovery. However, limited awareness, unwillingness among medical practitioners to adopt AI-based technologies, unclear regulatory guidelines for medical software and lack of interoperability among AI solutions offered by different vendors are likely to hamper the growth of the market in the forecast period.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global AI for drug discovery market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The AI for drug discovery market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting AI for drug discovery market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the AI for drug discovery market in these regions.
The reports cover key developments in the AI for drug discovery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from AI for drug discovery market are anticipated to lucrative growth opportunities in the future with the rising demand for AI for drug discovery in the global market. Below mentioned is the list of few companies engaged in the AI for drug discovery market.
The report also includes the profiles of key AI for drug discovery market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Atomwise, Inc.
- Insilico Medicine
- NuMedii, Inc.
- Cloud Pharmaceuticals, Inc.
- twoXAR, Incorporated
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