AI in Drug Discovery Market Overview
AI in Drug Discovery Market is likely to grow at a potential scale with the projected to reach USD 2,015 at CAGR of 40.8% during the forecast era. Thanks to development in technology, there have been so many opportunities that are coming up in the market for the betterment of the people. Talking of which the Imagination and attention of all medical experts have been grabbed by Artificial intelligence. For quite some time even large scale hospitals are looking for wad to use such a system for clinical purposes. The first finest example of how AI can help professionals is the way it has been commercialized. Such a system can provide a good paradigm shift in the clinician workflow for improving efficiency and ensuring the patient gets better care at the same time.
There has been an integration of machine learning tools with AI in the market of drug discovery & development applications. This can improve the outcome of healthcare as the drug discovery process can increase. This facilitates the targeted molecule identification and thus the adverse reactions of the risks can be reduced in the trial. In the Covid times due to pandemic crises, this market got declined but at a slow rate. Now that pandemic crises are shifting and more opportunities are coming up, there is a better scope for this market to grow at a faster pace.
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AI in Drug Discovery Market Segmentation
- As per product
The segmentation of the AI in drug discovery market is done as per the type of the product.
Software: It includes machine learning and also deep technology learning which is said to be the crucial part of the whole AI market. The segment of the software is likely to take a good market share in artificial intelligence.
Services: In the segment of the services, there are certain factors such as the upgrade, deployment and integration of the AI. Other than the platforms mentioned, there are players like DeepMatter that are coming up with services for improving the outcomes of drug discovery.
- As per Molecule Type
The segmentation of the AI in drug discovery market on the basis of molecule type.
Large Molecule: The segment consists of the drug candidates that have a complex and large molecular structure like the bionic drugs.
Small Molecule: The small molecules being the less complex ones as compared to the large ones are said to have less market share in the AI in the drug discovery market.
- As per Application
Target Identification, Candidate Screening, De novo Drug Designing, Drug Optimization & Repurposing, Preclinical Testing, and others.
- As per Indication
The segmentation of the AI in drug discovery market on the basis of indication. Immuno-oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases, and others
- End-User
Pharmaceutical & Biotechnology Companies, Research Centers and Academic & Government Institutes, Contract Research Organizations, and others.
- As per Technology
The segmentation of the AI in drug discovery market on the basis of technology.
Machine learning: The approach of machine learning is to offer certain tools for improving the overall decision for a certain question with good data.
Deep Learning: This is another AI subset in which the models show the geometric transformation over different layers.
AI in Drug Discovery Market Regional Classification
Countries like Canada and the Americas is said to be at the forefront when it comes to the healthcare industry for quite some time. There have been quite a good number of the big AI platform developers who have been presenting in the region which is one primary reason for the quick growth in the AI in drug discovery market.
Europe is considered the second large market that offers AI in drug discovery. It includes more research and development activities in the pharma sector and also a good demand for AI solutions.
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AI in Drug Discovery Market Competitive Outlook
Top key players in the market are Deep Genomics, Cloud Pharmaceuticals, Inc, Insilico Medicine, BenevolentAI, Exscientia, Microsoft Corporation, IBM Corporation, Google (A Subsidiary of Alphabet Inc.), Atomwise, Inc, Cyclica, Bioage, Numerate, Numedii, Inc, Envisagenics, Twoxar, Incorporated, Owkin, Inc, Xtalpi, Inc, Verge Genomics, Berg LLC
AI in Drug Discovery Industry News
Different companies have been operating in the drug discovery market with artificial intelligence such as BenevolentAI, Cloud Pharmaceuticals, Deep Genomics, IBM Corporation, Google, and Numerate to name some.
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