The global Intelligent Drug Discovery Market is predicted to garner a revenue of USD 3,711.8 million by the end of 2027, expanding at a CAGR of 39.4% throughout the projected timeline, as per the current report by Emergen Research. The intelligent drug technology market is expanding rapidly, and the prominent biopharmaceutical companies are now focusing on the design and development of drugs using artificial intelligence (AI). The pharma companies are extensively utilizing advanced technology to develop drugs for targeted complex diseases and disorders.
The escalating adoption of cloud-based applications and the expiration of patented drugs is anticipated to break the ground for novel generic and over-the-counter (OTC) medications, thereby influencing the market demand. The advancement in machine learning (ML) and deep learning will enable biopharmaceutical companies to have an accurate understanding of molecule binding. The availability of customization capabilities and data mining on the AI platforms is another significant factor driving the expansion and demand of intelligent drug discovery.
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The continual rise in the patient pool suffering from chronic illnesses across the world and the enormous investments by the pharmaceutical firms for the development of a broad spectrum of drugs are driving the market growth. Intelligent drug discovery process enables the design and development of novel products, thereby catering to the world’s unmet medical need. However, scarcity of data sets in drug discovery and a dearth of skilled professionals is anticipated to impede the market growth.
Key Highlights from the Report:
- The software sub-segment occupied the largest share of the industry, majorly driven by the cost and time efficiency, low failure rate, presence of numerous software developers for drug discovery, and bolstering demand from pharmaceutical giants across the world.
- Machine learning enables optimization of therapies through the integration of clinical and biomedical data with computational models. Machine learning is extensively used for building software solutions for combinational therapies and drug testing. It offers a lucrative potential for the development of personalized medicine and comprehensive drug discovery.
- The increasing occurrences of oncology and the potential to affect several aspects of cancer therapy are forecast to influence the market demand. The amalgamation of artificial intelligence and cancer therapy has influenced the development of multiple solutions that address complicated challenges. Intelligent solutions can accelerate the drug discovery process significantly.
- Incorporation of artificial intelligence in medical imaging is exhibiting lucrative growth potential in the Asia Pacific region due to a sharp escalation in the R&D activities and rapid advancement in the biopharmaceutical sector. Additionally, the escalating patient pool suffering from complex chronic illnesses is fueling the need for improved healthcare infrastructure, thereby driving the market growth in the region.
- Major companies operating in the industry include Exscientia, IBM Corporation, Google, Envisagenics, Microsoft Corporation, Cloud Pharmaceuticals, Inc., Insilico Medicine, Bioage, Atomwise, Inc., and NVIDIA Corporation, among others.
- Optibrium, a U.K.-based software provider for small molecule design and optimization, launched Cerella, an intelligent platform for active learning in drug discovery, in October 2020. Cerella’s architecture is an amalgamation of cloud computing and on-premise deployment that offers enhanced data security and scalability.
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For the purpose of this report, Emergen Research has segmented the Global Intelligent Drug Discovery Market on the basis of offering, technology, application, end-user, and region:
Offering Outlook (Revenue, USD Billion; 2017-2027)
- Services
- Software
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Machine Learning
- Unsupervised Learning
- Supervised Learning
- Reinforcement Learning
- Deep Learning
- Other Technologies
Application Outlook (Revenue, USD Billion; 2017-2027)
- Immuno-Oncology
- Neurodegenerative Diseases
- Cardiovascular Disease
- Metabolic Diseases
- Others
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Contract Research Organizations
- Research Centers and Academic & Government Institutes
- Pharmaceutical & Biotechnology Companies
Click on the link to read key highlights of the report and look at projected trends for years to come: https://www.emergenresearch.com/industry-report/intelligent-drug-discovery-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
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