Artificial intelligence is a constellation of many different technologies that work together to enable machines to perceive, understand, act, and learn at human-like levels of intelligence. The modularization of AI with healthcare tools in biopharmaceutical companies, pharmaceutical companies, and drug discovery research organizations is called AI drug discovery. Machine learning & other innovations allow pursue new pharmaceuticals faster, cheaper, and more successfully. Pharmaceutical companies quickly understand the importance of introducing artificial intelligence (AI)-based systems that can harness data on genetic variants, target receptors, metabolic enzymes, disease events, and clinical trials to find hidden associations in drug-induced illnesses. The growing awareness among doctors and patients about the benefits of artificial intelligence has a direct impact on the growth of the market.
AI can be used in a variety of stages of the drug discovery process including predicting target protein structure with artificial intelligence, artificial intelligence virtual high-throughput screening, toxicity prediction with AI and predicting bioactivity with AI.
As per analysis, “Artificial Intelligence in Drug Discovery Market: Current Analysis and Forecast (2021-2027)” the key companies operating in the global artificial intelligence in drug discovery market include INSILICO MEDICINE, Bioage, Numerate, Microsoft, Atomwise Inc., Numedii, Benevolentai, Nvidia Corp., Google, IBM Corp. and among others. Leading companies in the AI industry are engaging in collaborations and partnerships with AI platform providers to revolutionize medical treatment.
Growth of pharmaceutical industries by collaborations with other industries, followed by delay in patent expiry, increase in need to reduce cost & drug discovery along with reduce time and growth in adoption of cloud based services & applications are few major factors, which are responsible for growth of the global artificial intelligence in drug discovery market. Apart from this, lack of data sets and unavailability of skilled labor are major restraining factors for market. Furthermore, rapid expansion of biotechnology industries is a key opportunity for market.
By regional analysis, the North-America is the prevalent region in global artificial intelligence in drug discovery market due to increase in research activities and high prevalence of pharmaceutical companies across the region. Additionally, some other regional factors contributing to the growth of the market include high adoption of artificial intelligence (AI) platforms among various pharma companies in the U.S. coupled with the presence of well-established clinical infrastructure with sound funding capacity. The Europe and Asia-Pacific regions are expected to exhibit considerable growth rate caused by increase in awareness related to benefits provided by AI in solving complex situations over the forecast period. Growth in the adoption of artificial intelligence (AI) systems in both China and India for drug development and strong focus on the pharma companies in increasing their capacities have driven the AI systems for drug discovery in the concerned region. It is projected that global artificial intelligence in drug discovery market will be reached at quick pace owing to increase in requirements to reduce the overall cost & duration of drug development and growth in technology advancements during the forecast period.
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Global Artificial Intelligence Drug Discovery Market
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