Artificial Intelligence (AI) In Drug Discovery Global Market Report 2023

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Major players in the artificial intelligence (AI) in drug discovery market are IBM Corporation, Microsoft, Atomwise Inc., Deep Genomics, Cloud Pharmaceuticals, Insilico Medicine, Benevolent AI, Exscientia, Cyclica and BIOAGE.

New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Artificial Intelligence (AI) In Drug Discovery Global Market Report 2023" - https://www.reportlinker.com/p06229183/?utm_source=GNW


The global artificial intelligence (ai) in drug discovery market will grow from $1.04 billion in 2022 to $1.38 billion in 2023 at a compound annual growth rate (CAGR) of 31.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The artificial intelligence (ai) in drug discovery market is expected to grow to $3.74 billion in 2027 at a CAGR of 28.4%.

The artificial intelligence (AI) in drug discovery market includes revenues earned by entities by offering AI for drug discovery.Artificial Intelligence (AI) for drug discovery is a technology that uses a simulation of the human intelligence process by machines to tackle complex problems in the drug discovery process.

It helps to find new molecules to identify drug targets and develop personalized medicines in the pharmaceutical industry.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Artificial intelligence (AI) is a simulation of the human intelligence in machines that are programmed to think and behave like humans. AI helps to complete the job quickly and with relatively few errors.

North America was the largest region in the artificial intelligence (AI) in drug discovery market in 2022.Western Europe was the second largest region in the artificial intelligence (AI) in drug discovery market.

The regions covered in the artificial intelligence (AI) in drug discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main technologies in artificial intelligence (AI) in drug discovery are deep learning and machine learning.Deep learning is a machine learning and artificial intelligence (AI) technique that mimics how humans acquire knowledge.

Data science, which covers statistics and predictive modelling, incorporates deep learning as a key component.The different drug types include small molecule, large molecules and involves various types of therapies such as c, others.

It is implemented in several end-users including pharmaceutical companies, biopharmaceutical companies, academic and research institutes, others.

The rise in demand for a reduction in the overall time taken for the drug discovery process is a key driver propelling the growth of the artificial intelligence (AI) in drug discovery market.Traditionally, it takes three to five years for animal models to identify and optimize molecules before they are evaluated in humans whereas start-ups based on AI have been identifying and designing new drugs in a matter of few days or months.

For instance, in 2020, the British start-up Exscientia and Japan’s Sumitomo Dainippon Pharma have used artificial intelligence to produce an obsessive-compulsive disorder (OCD) medication, decreasing the development time from four years to less than one year. The reduction in overall time taken for the drug discovery process drives the artificial intelligence (AI) in drug discovery market’s growth.

The shortage of skilled professionals is expected to hamper the AI in drug discovery market.The employees have to re-train or learn new skill sets to work efficiently on the complex AI machines to get the desired results for the drug.

The shortage of skills acts as a major hindrance to drug discovery through AI, discouraging companies to adopt AI-based machines for drug discovery. in 2020, according to a study by National Skills Coalition, one-third of America’s workers lacked digital skills. This figure accounted for 18% of workers with only a few skills and 13% with no digital abilities.

Major companies operating in the AI drug delivery market are adopting strategic collaborations to research and discover drugs using AI and are gaining significant popularity in the artificial intelligence in drug discovery market.For instance, in August 2022, Atomwise, a US-based artificial intelligence systems company, partnered with Sanofi.

The partnership aimed at computationally identifying and investigating up to five pharmacological targets using the Atomwise AI-powered AtomNet technology.To find, create, and advance lead compounds for up to five Sanofi-exclusive targets, Atomwise received a $20 million upfront payment from Sanofi.

Sanofi is a French pharmaceutical and healthcare company.

In July 2020, Curi Bio, a leading developer of human iPSC-based platforms for drug discovery, acquired Dana Solutions for an undisclosed amount.This acquisition will give Curi Bio access to Dana’s AI/ML platforms for modelling cell and tissue phenotype, automated platform for contractility analysis of beating cardiomyocyte and platform for predictive safety pharmacology.

Dana Solutions is a leading AI solutions provider for the life sciences industry.

The countries covered in the artificial intelligence (AI) in drug discovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The artificial intelligence (AI) in drug discovery market research report is one of a series of new reports that provides artificial intelligence (AI) in drug discovery market statistics, including artificial intelligence (AI) in drug discovery industry global market size, regional shares, competitors with a artificial intelligence (AI) in drug discovery market share, detailed artificial intelligence (AI) in drug discovery market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) in drug discovery industry. This artificial intelligence (AI) in drug discovery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06229183/?utm_source=GNW

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