The global artificial intelligence in drug discovery market size is expected to reach USD 3.5 billion by 2027, expanding at a CAGR of 28.8%, according to a new report by Grand View Research, Inc. The growing adoption of artificial intelligence (AI) platforms aimed at reducing the overall cost associated with drug discovery and to enhance results is expected to propel the demand for these platforms in the pharma market.
Based
on the application, the drug optimization and repurposing segment accounted for
the largest revenue share in 2019. AI platforms help in identifying alternative
applications for existing medicines. This can help pharma companies diversify
their portfolio of offerings and assist in producing alternative therapies
through minor alterations in the pharmaceutical product. Furthermore, AI
platforms also enable researchers to identify the toxic effects of the medicine
on the body and thus reduce the chances of adverse effects.
In
2019, oncology application accounted for the largest share whereas, the
infectious disease application segment is expected to emerge as the
fastest-growing application segment over the forecast period. Artificial
intelligence already plays a vital role in the early detection of cancer.
Furthermore, as treatments for cancer may vary for each patient, personalized
medicine has proven to be an effective alternative.
North
America dominated the market with a revenue share of 59.4% in 2019 owing to the
increasing adoption of artificial intelligence and the presence of a large
number of market players. Asia Pacific is expected to emerge as the
fastest-growing region in the market over the forecast period. The growing
adoption of new technology in India and China for new drug development and a
focus towards boosting pharmaceutical capacities within the countries is
expected to drive the market in the region.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-drug-discovery-market
Artificial
Intelligence In Drug Discovery Market Report Highlights
- The drug
optimization and repurposing segment accounted for the largest revenue
share of 54.4% in 2019
- By
therapeutic area, the oncology segment was valued at USD 125.0 million in
2019
- By
therapeutic area, the infectious disease segment is expected to witness
the fastest growth of 31.4% from 2020 to 2027
- In Asia
Pacific, the AI in drug discovery market is expected to witness a CAGR of
32.1% from 2020 to 2027
- North America
and Europe together accounted for 78.6% share of the market revenue in
2019.
Artificial
Intelligence In Drug Discovery Market Segmentation
Grand View Research has
segmented the global artificial intelligence in drug discovery market
based on application, therapeutic area, and region:
AI In Drug
Discovery Application Outlook (Revenue, USD Million, 2016 - 2027)
- Drug optimization and repurposing
- Preclinical testing
- Others
AI In Drug
Discovery Therapeutic Area Outlook (Revenue, USD Million, 2016 - 2027)
- Oncology
- Neurodegenerative Diseases
- Cardiovascular Disease
- Metabolic Diseases
- Infectious Disease
- Others
AI In Drug
Discovery Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Singapore
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
List of Key
Players of Artificial Intelligence In Drug Discovery Market
- IBM Watson
- Exscientia
- GNS Healthcare
- Alphabet (DeepMind)
- Benevolent AI
- BioSymetrics
- Euretos
- Berg Health
- Atomwise
- Insitro
- Cyclica
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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