Global Artificial Intelligence in Drug Discovery Market: Trending in 2021
New York, NY 15 June 2021: The global artificial intelligence (AI) in drug discovery market size is expected to reach USD 4.05 billion by 2028 according to a new study by Polaris Market Research. The report “Artificial Intelligence in Drug Discovery Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Area (Oncology, Neurodegenerative Diseases, Cardiovascular Disease, Metabolic Diseases, Infectious Disease, Others); By Application; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Based on therapeutic areas, the global artificial intelligence (AI) in drug discovery market is segmented into oncology, neurodegenerative diseases, cardiovascular disease, metabolic diseases, infectious diseases, and others. In 2020, the oncology segment accounted for the largest revenue share. Artificial intelligence plays an important role in the pre-diagnosis of cancer. Cancer treatments vary from person to person and personalized medicine has played an important role.
Artificial intelligence (AI) platforms are designed to ascertain genetic mutations, helping oncologists in designing effective treatment plans. In this line, a Switzerland-based company, Sophia Genetics developed an AI platform that helps to identify tumors by detecting genetic variations and devising personalized cancer treatment plans.
However, the infectious disease segment of artificial intelligence (AI) in drug discovery industry is projected to witness a lucrative growth rate over the study period. The increasing adoption of artificial intelligence (AI) platforms in infectious diseases to identify key infection patterns. A positive scenario for the segment is also illustrated by key partnerships and collaborations in the market for artificial intelligence (AI) in drug discovery.
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For instance, artificial intelligence (AI)-based drug discovery company, Existencia, entered into an agreement with Scripps Research to identify COVID-19 antiviral therapies. On the same ground, Google’s Deepmind company also working on the artificial intelligence (AI) platform AlphaFold. The product is designed to provide information on several proteins involved in the diagnosis of SARS and COVID-19.
Market participants such as IBM Watson, Alphabet (DeepMind), Exscientia, GNS Healthcare, Insitro, BioSymetrics, Euretos, Berg Health, Benevolent AI, Atomwise, and Cyclica. are some of the key players operating in the global market. The companies in the artificial intelligence (AI) industry are involved in collaborations and partnerships with artificial intelligence (AI) platform providers to revolutionize medical treatment.
In this direction, in January 2021, the U.S.-based provider of biomarkers-based therapy, Nucleai signed a collaboration agreement with Debiopharm, pharma company pioneering in drug development. According to the agreement the latter will use Nucleai’s artificial intelligence (AI) platform for its pipeline oncology drug candidates.
Polaris Market Research has segmented the artificial intelligence in drug discovery market report on the basis of application, therapeutic area, and region:
Artificial Intelligence in Drug Discovery, Application Outlook (Revenue – USD Million, 2016 – 2028)
- Drug optimization and repurposing
- Preclinical testing
- Others
Artificial Intelligence in Drug Discovery, Therapeutic Area Outlook (Revenue – USD Million, 2016 – 2028)
- Oncology
- Neurodegenerative Diseases
- Cardiovascular Disease
- Metabolic Diseases
- Infectious Disease
- Others
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The global Artificial Intelligence in Medicine Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the artificial intelligence in medicine market include Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., BioXcel Corporation, and Berg Health..
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Artificial Intelligence in Medicine Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/artificial-intelligence-in-medicine-market/download-sampleMarket DynamicsThe market is mainly driven by the rapidly rising adoption of cloud computing techniques that have promoted artificial intelligence solutions for mining large amounts of data to identify mistakes in the present scenarios and offer alternative solutions in complex situations.
In addition, the lack of skilled healthcare workers and an increase in the processing power of AI systems are projected to help improve the efficiency of drug discovery and management of clinical trials.
Further, the growth in importance of precision medicine and raising funding for the R activities of the use of AI in the medicine field are estimated to boost the growth of the market.
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