The ‘ Artificial Intelligence For Drug Development and Discovery market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players.
The research study provides market overview, Artificial Intelligence For Drug Development and Discovery market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Artificial Intelligence For Drug Development and Discovery market size forecast, market data&Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence.
The artificial intelligence for drug discovery and development market was valued at $520 million in 2019 and is projected to reach $4,815 million by 2027, registering a CAGR of 31.6% from 2020 to 2027.
Artificial intelligence (AI) is science and engineering adopted to design intelligent machines, especially intelligent computer programs. AI is an intelligent system that relates various human intelligence based functions such as reasoning, learning, and problem-solving skills on different disciplines such as biology, computer science, psychology, mathematics, linguistics, and engineering.
In the healthcare industry, AI is applicable in medication management, treatment plans, drug discovery& developments and others.
Drug discovery& development includes several processes and phases that demand a huge amount of funds. Furthermore, clinical trials and approval of the drug in the market might be a challenging task.
Increase in number of collaborations between pharmaceutical & biotech companies and AI providers are the major driver for this market.
Artificial intelligence decreases a large amount of time and cost utilized in the drug discovery and development process, which is mainly influencing the market growth. The increasing demand for cloud-based software that enables the researcher to design drugs quickly and accurately is expected to drive the market growth.
Moreover, the integration of artificial intelligence (AI) and machine learning approaches within the life science R&D industry is making drug discovery and development more innovative, time-effective and cost-effective.
The artificial intelligence for drug discovery and development market is segmented on the type, indication, end user and region. By type, it is divided into target identification, molecules screening, de novo drug design &drug optimization and preclinical &clinical testing.
On the basis of indication, it is classified into oncology, infectious disease, neurology, and others. By end user, it is segmented into pharmaceutical & biotechnology companies, and CROs.
Region wise, the market is analyzed across North America (US, Canada), Europe (Germany, France, UK, Rest of Europe), Asia-Pacific (Japan, China, Australia, India, Rest of Asia-Pacific), and LAMEA (Latin America and Middle East and Africa).North America held the major share of the artificial intelligence for drug discovery and development market in 2019 and is expected to continue its dominance during the forecast period, owing to strong economies in the U.S. and Canada; high adoption rate of AI technologies due to large number of investments to boost the drug discovery industry; and large number of cross industry collaborations and partnerships majorly fuels the market growth.
However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to rise in adoption of advanced AI technologies, and growth in focus of major players on increasing their presence in emerging Asian countries.
Key Segments Studied in the Global Artificial Intelligence For Drug Development and Discovery Market
Professional Key players: Alphabet Inc., Atomwise, Inc., Benevolent AI, Cloud Pharmaceutical, Deep Genomics, Exscientia, IBM Corporation, Insilico Medicine Inc., Microsoft Corporation, and Nvidia Corporation
Market Segmentation:
Artificial Intelligence For Drug Development and Discovery Market by Type (Target Identification, Molecule Screening, De Novo Drug Design & Drug Optimization, and Preclinical & Clinical Testing), Indication, (Oncology, Neurology, Infectious Disease and Others), and End User (Pharmaceutical & Biotechnology Companies, and Contract Research Organization)
Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
covid-19 scenario
Market Behavior/ Level of Risk and Opportunity
End Industry Behavior/ Opportunity Assessment
Expected Industry Recovery Timeline
Business Impact Horizon
Opening of Economy by Q3 2020
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Recovery – Opening of Economy extended till Q4 2020 / Q1 2021
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Changing Forecasts in a Time of Crisis: explores key issues, including:
Future changes in consumer behavior
High-frequency economic data
Mapping Out a Potential Recovery
Business Strategies During COVID-19
Near & Long Term Risk Outlook, Risk Assessment and Opportunities
Key questions answered: The Study Explore COVID 19 Outbreak Impact Analysis
Market size and growth rate during forecast period.
Key factors driving the Market.
Key market trends cracking up the growth of the Market.
Challenges to market growth.
Key vendors of Market.
Detailed SWOT analysis.
Opportunities and threats faces by the existing vendors in Global Market.
Trending factors influencing the market in the geographical regions.
Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major regions.
What should be entry strategies, countermeasures to economic impact, and marketing channels?
What are market dynamics?
What are challenges and opportunities?
What is economic impact on market?
What is market chain analysis by upstream raw materials and downstream industry?
What is industry considering capacity, production and production value? What will be the estimation of cost and profit? What will be market share, supply and consumption? What about import and export?
What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
What were capacity, production value, cost and profit?
Who are the global key players in this industry? What are their company profile, their product information, and contact information?
Which manufacturing technology is used, what are their company profile, their product information, and contact information?