(USA, NY, New York City) According to the reports by MRFR, the AI in the drug discovery market is likely to cross the market value of over USD 2,015.1 Million while recording a robust CAGR of 40.8% throughout the forecast period.
The global AI in the drug discovery market has been witnessing massive growth over recent times owing to the factors such as huge investments into the AI business by major players, a growing number of startups, rising adoption of AI by major pharma companies for drug discovery, and growing number of mergers and partnerships. However, the market’s growth is anticipated to be hampered by the lack of adequate infrastructure in developing economies and the high cost of AI integration.
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Players leading the global AI in drug discovery market include Microsoft Corporation, IBM Corporation, Alphabet Inc., Atomwise, Inc., Deep Genomics, Cloud Pharmaceuticals, Inc., Insilico Medicine, BenevolentAI, Exscientia, Cyclica, Bioage, Numerate, Numedii, Inc., Envisagenics, Twoxar, Incorporated, Owkin, Inc., Xtalpi, Inc., Verge Genomics, and Berg LLC, among others.
The global AI for drug discovery market is divided into numerous segments based on product type, molecule type, technology, indication, application, and region.
The global market is divided into services and software based on product type.
By molecule type, the market is bifurcated into small and large molecules.
Based on technology, the global market is split into deep learning, machine learning, and others.
The global market by indication is divided into metabolic, cardiovascular, neurodegenerative, immuno-oncology, and others.
Based on application, the global market is bifurcated into preclinical testing, de novo drug designing, drug optimization and repurposing, candidate screening, target identification, and others.
The global market is divided into research centers and academic & government institutes, contract research organizations, and pharmaceutical & biotechnology companies by end-users.
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The global AI in the drug discovery market is studied across four major regions: Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The American region is likely to hold the top position in the global market over the forecasted era. The regional market’s growth is being driven by the aspects including the growing number of big AI platform developers present in the region, rising demand for Artificial Intelligence technologies from major Pharma companies, and growth in demand for new drugs in Latin American region. The U.S. and Canada are leading the regional market with the maximum contribution in the net market share.
The European regional market for AI in drug discovery is anticipated to secure the second position in the global market. The regional market’s growth is being driven by the rise in demand for AI solutions by Big Pharma companies, growing R&D activities in the pharma sector, and the growing number of startups across the region.
The Asia-Pacific region will possibly register the fastest growth rate throughout the review timeframe from 2019-2027 in the AI in the drug discovery market. The regional market’s growth is attributed to the rapidly growing pharmaceutical market, a growing number of startups, and rising demand for effective drug discovery solutions.
The AI in the drug discovery market for the Middle East & Africa region is likely to record the least growth over the forecasted era because of the low per capita disposable incomes, limited players working in the drug discovery and development, and limited healthcare infrastructure.
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