Artificial Intelligence in Drug Discovery Market Size worth to USD 8.9 Billion By 2030, at a CAGR Of 24.9% with Top Key players | Microsoft Corporation, IBM Corporation, Google
Research Reports
Nov 21, 2022
By 2030, the artificial intelligence in drug discovery market is anticipated to be worth over USD 8.9 billion, growing at a CAGR of 24.9% between 2022 and 2030. With the endless possibilities offered by this cutting-edge technology, artificial intelligence in healthcare is booming, and several business titans are showing interest and investing heavily in the sector. Several digital behemoths are making investments in AI for the healthcare industry, including IBM’s Watson, Alphabet, and Philips. In addition to these, several pharmaceutical firms and numerous startups from across the world are taking the initiative and becoming involved in the creation of AI and machine learning technologies to enhance drug discovery and improve the results of drug development.
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Regional analysis:
Over the years, nations like the US and Canada have been at the forefront of the healthcare sector. One of the main causes of the region’s quick expansion in the AI in drug discovery market is the rising number of large AI platform developers there. The Big Pharma corporations are using some of the leading AI systems, such as TensorFlow, Microsoft Azure, and Google AI, in the process of finding new drugs.
After the Americas, Europe is the region with the second-largest market for AI in drug discovery. The regional ai in drug discovery market is anticipated to increase as a result of factors like rising R&D activities in the pharmaceutical industry and strong demand from Big Pharma firms for AI solutions. To include AI technology into the drug research process, leading pharmaceutical corporations have formed collaborations with AI service providers.
Market segmentation:
By product type, the artificial intelligence in drug discovery market
Software: A key component of the whole AI business is software, including AI platforms created using machine learning and deep learning technologies. The market for artificial intelligence in drug discovery is dominated by the software segment.
Services: The category for services comprises AI implementation, integration, and upgrade. In addition to offering a platform, several businesses, such BenevolentAI and DeepMatter, work closely with pharmaceutical companies (such as AstraZeneca) to enhance the results of drug development.
The market for artificial intelligence in drug discovery by type of molecule
Huge Molecule: This category covers potential medications with large, intricate molecular structures, such as biologics.
Small Molecules: Because they are less complicated than big molecules, small molecules are anticipated to hold a smaller part of the market for artificial intelligence-assisted drug development.
Artificial Intelligence Market By Technology for Drug Discovery
Computer learning: With plenty of good, high-quality data, machine learning (ML) techniques offer a set of tools that can enhance decision making for specific issues.
Deep Learning (DL) is a further branch of AI in which models reflect geometric transformations at several levels. Deep learning technology makes use of neural “networks,” a logical organisation that is akin to the brain, to detect and classify patterns like speech, picture, and video.
Other: Natural language processing, expert systems, and robotics are a few of the additional technologies in the market for artificial intelligence in drug development.
Key Players
The following companies have contributed to this article: Microsoft Corporation, IBM Corporation, Google (A Subsidiary of Alphabet Inc.),,Genomics, Cloud Pharmaceuticals, Inc., Insilico Medicine, BenevolentAI, Exscientia, and Insilico Medicine. Companies such as Numedii, Inc., Envisagenics, and Twoxar, Incorporated are examples of Owkin, Inc., Xtalpi, Inc., Verge Genomics, Berg LLC
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