Artificial Intelligence (AI) in Drug Discovery Global
Dublin, June 29, 2022 (GLOBE NEWSWIRE) — The “Artificial Intelligence (AI) in Drug Discovery Market by Component (Software, Service), Technology (ML, DL), Application (Neurodegenerative Diseases, Immuno-Oncology, CVD), End User (Pharmaceutical & Biotechnology, CRO) , region – Global forecast until 2024″ report has been added to from ResearchAndMarkets.com offer.
The Artificial Intelligence/AI in Drug Discovery Market is expected to reach USD 4.0 Billion by 2027, from USD 0.6 Billion in 2022, growing at a CAGR of 45.7% during the forecast period . The growth of this market is primarily driven by factors such as the need to control drug discovery and development costs and reduce the overall time required for this process, increasing adoption of applications and services based on the cloud. On the other hand, insufficient availability of skilled labor is a key factor restraining the growth of the market to some extent over the forecast period.
Services segment is estimated to hold the major share in 2022 and is also expected to grow to the highest during the forecast period
On the basis of supply, the AI in drug discovery market is split into software and services. the services segment is expected to account for the largest market share of the global AI services in drug discovery market in 2022 and is expected to witness the fastest growth in CAGR during the forecast period. The advantages and benefits associated with these services and the high demand for AI services among end users are the key factors driving the growth of this segment.
The machine learning technology segment accounted for the largest share of the global AI in drug discovery market
On the basis of technology, the AI in drug discovery market is segmented into machine learning and other technologies. The machine learning segment accounted for the largest global market share in 2021 and is expected to grow at the highest CAGR during the forecast period. The high adoption of machine learning technology by CRO, pharmaceutical and biotech companies and the ability of these technologies to extract insights from datasets, which helps to speed up the drug discovery process, are some of the factors supporting the market growth of this segment.
The segment of pharmaceutical and biotechnology companies is expected to hold the largest market share in 2022
On the basis of end-user, the AI in drug discovery market is divided into pharmaceutical and biotechnology companies, CROs, research centers, and academic and government institutes. In 2021, the pharmaceutical and biotechnology companies segment accounted for the largest share of the AI in drug discovery market. On the other hand, research centers and academic and government institutes are expected to witness the highest CAGR during the forecast period. The high demand for AI-based tools to make the entire drug discovery process faster and more cost-effective is the key growth driver for the pharmaceutical and biotech end-user segment.
Main topics covered:
2 Research methodology
3 Executive Summary
4 premium previews
4.1 The growing need to control drug discovery and development costs is a key factor driving the adoption of AI in drug discovery solutions
4.2 Service Segment to Witness the Highest Growth over the Forecast Period
4.3 Deep Learning Segment Accounted for Largest Market Share in 2021
4.4 North America is the Fastest Growing Regional Market for AI in Drug Discovery
5 Market Overview
5.2 Market Dynamics
5.2.1 Market Drivers
188.8.131.52 Growing number of cross-sector collaborations and partnerships
184.108.40.206 Growing Need to Control Drug Discovery and Development Costs and Reduce Time to Drug Development
220.127.116.11 Patent expiry of several drugs
5.2.2 Market constraints
18.104.22.168 AI Labor Shortage and Ambiguous Regulatory Guidance for Medical Software
5.2.3 Market opportunities
22.214.171.124 Growth of the biotechnology industry
126.96.36.199 Emerging markets
188.8.131.52 Focus on developing human-aware AI systems
184.108.40.206 Drugs and Biologics Market Growth Despite COVID-19 Pandemic
5.2.4 Market challenges
220.127.116.11 Limited availability of datasets
5.3 Value chain analysis
5.4 Porter’s Five Forces Analyzes
5.6 Technology Analysis
5.7 Price Analysis
5.8 Business models
5.10 Conferences and Webinars
5.11 Analysis of case studies
6 Artificial Intelligence in Drug Discovery Market, By Supply
7 Artificial Intelligence in Drug Discovery Market, By Technology
8 Artificial Intelligence in Drug Discovery Market, by Application
9 Artificial Intelligence in Drug Discovery Market, by End User
10 Artificial Intelligence in Drug Discovery Market, by Region
11 Competitive Landscape
- Berg, LLC
- Pharmaceutical cloud
- Cyclica Inc.
- Deep genomics
- Evasion Biotech
- Insilico Medicine
- Numedii, Inc.
- Okin, Inc.
- Schrodinger, Inc.
- Twoxar, Inc. (Aria Pharmaceuticals)
- Valo Health
- Genomic Rod
- Xtalpi, Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/asgg0b