Dublin, April 06, 2020 (GLOBE NEWSWIRE) -- The "Global AI-Enabled Drug Discovery and Clinical Trials Market: Analysis and Forecast, 2019-2030" report has been added to ResearchAndMarkets.com's offering.
This report projects the market to grow at a significant CAGR of 24.88% during the forecast period from 2019 to 2030. The market has evolved dramatically with increasing drug development expenditure and growing synergistic activities.
Despite the benefits of these software solutions, the major challenges in the market are lack of regulations and ethical issues. Some of the major opportunities for the key vendors in the market could be investment opportunities in emerging economies such as India, China, and Brazil and the introduction of systems in different languages.
Expert Quote
Biopharmaceutical companies are the major end-users of the AI-enabled drug discovery and clinical trials market in terms of revenue share. The biopharmaceutical companies' market share is expected to increase by up to $2,692.8 million. However, the usage of the solutions is expected to increase in contract research organizations and academic & research centers in order to streamline the workflow of the facilities and improve the quality of care.
Market Segmentation
The Global AI-Enabled Drug Discovery and Clinical Trials Market can be segmented on the basis of component type, application, therapeutic application, end-user, and region.
As of 2018, AI-enabled solutions accounted for $207.5 million and is expected to reach a value of $3,385 million by the end of 2030. In terms of growth, the end-users and academic institutes and research centers segment is expected to grow at the highest CAGR of 25.45% during the forecast period.
As of 2018, North America is the largest shareholder for the overall market and is expected to reach a value of $2,460.5 million by the end of 2030, growing with a CAGR of 24.47% during the forecast period. However, a higher growth rate can be expected from the Asia-Pacific region, considering its improving healthcare infrastructure, overburdened healthcare system, and the focus of ASEAN countries to be recognized as a medical tourism destination.
Although the adoption rate of the AI-enabled solutions has been moderate, the potential that lies in them is immense. The integration of AI-enabled solutions in the healthcare facility will not only enhance medical research but also help research organizations in cost containment. To make the entire drug discovery and development process more efficient, the AI-enabled solutions can be integrated across various stakeholders, namely biopharmaceutical companies, contract research organizations (CROs), academic institutes, and research centers.
Key Companies
Some of the major key players in the global AI-enabled drug discovery and clinical trials market include Accutar Biotechnology Inc., AiCure, LLC, Ardigen, Atomwise, Inc., Benevolent AI, Berg, LLC, Berkeley Lights, Inc., BioAge Labs, Inc., Biovista, Inc., C4X Discovery Holdings, Clinithink Ltd, Cloud Pharmaceuticals, Inc., Cyclica Inc., CytoReason, and Concerto HealthAI.
Research Highlights
- Biopharmaceutical companies are expected to be the major end-users of AI-enabled solutions and services during the forecast period. Contract research organizations (CROs) and academic institutes and research centers are expected to see the highest growth rate during the forecast period.
- The use of AI-enabled solutions and services in drug discovery and development can significantly improve the candidate selection process and data analysis process.
- North America is expected to be the major market shareholder of the market, followed by Europe, Asia-Pacific, and Rest-of-the-World. While Asia-Pacific is expected to see the highest growth rate, the CAGR for Rest-of-the-Word is expected to be close to Asia-Pacific.
- The market is in the nascent stage of development and hence is a blend of more than 100 companies. The key regional players are expected to evolve as global leaders for the market.
Key Questions Answered in the Report
- How can AI integration in drug discovery and clinical trials decrease drug development expenditure?
- How are pharmaceutical/biopharmaceutical companies assisting in market development?
- How can regulatory bodies such as FDA accelerate the AI adoption within the drug discovery and development process?
- What is the present status of AI adoption in the drug discovery and development processes globally?
- Which companies are expected to emerge as the key players in the market?
- How are the companies operating in the market generating revenue?
- What are the key regulatory implications in developed and developing regions for AI-enabled drug discovery and clinical trials market?
- How can the companies expand in non-English speaking regions?
- Which therapeutic area (such as oncology and neurology) has the highest AI adoption rate in clinical trials?
- Which region is anticipated to serve as an emerging market for drug discovery and clinical trials, respectively?
- What is the state of AI adoption in the Middle East and Latin America?
- What are the different methodologies followed by the companies in the market for drug development?
Key Topics Covered
Executive Summary
1 Product Definition
1.1 Inclusion and Exclusion
2 Scope of the Report
2.1 Scope of the Study
2.2 Key Questions Answered in the Report
3 Research Methodology
3.1 Primary Data Sources
3.2 Secondary Data Sources
3.3 Market Estimation Model
3.4 Companies Profiled
3.5 Assumptions and Limitations
4 Industry Analysis
4.1 Industry Trends
4.1.1 Incorporation Trends
4.2 Value Analysis
4.2.1 Drug Discovery
4.2.2 Clinical Trials
4.3 Regulatory Framework and Government Initiatives
4.3.1 Regulatory Framework in North America
4.3.2 Regulatory Framework in Europe
4.3.3 Government Initiatives
4.3.3.1 Government Initiatives in North America
4.3.3.2 Government Initiatives in Europe
5 Pipeline Analysis
6 Competitive Landscape
6.1 Key Developments and Strategies
6.1.1 Collaborations and Partnerships
6.1.2 Funding
6.1.3 Product Launch and Upgradation
6.1.4 Mergers and Acquisitions
6.1.5 Others
6.2 Business Model Analysis
6.2.1 Subscription
6.2.2 Software as a Service and Platform as a Service (SaaS and PaaS)
6.2.3 Pay Per Use Model
6.3 Competitive Benchmarking
7 Market Dynamics
7.1 Market Drivers
7.1.1 Increasing Drug Development Expenditure
7.1.2 Facilitation of Polypharmacology
7.1.3 Growing Number of Synergistic Activities
7.2 Market Restraints
7.2.1 Lack of Regulations
7.2.2 Ethical Issues
7.3 Market Opportunities
7.3.1 Expansion of Business in Developing Economies such as India and Brazil
7.3.2 Introduction of Solutions in Different Languages
8 Global AI-enabled Drug Discovery and Clinical Trials Market
8.1 Assumptions and Limitations
8.2 Key Findings and Opportunity Assessment
8.2.1 Key Findings
8.2.2 Opportunity Assessment
9 Global AI-enabled Drug Discovery and Clinical Trials Market (by Component)
9.1 Overview
9.2 Solutions
9.3 Services
10 Global AI-Enabled Drug Discovery and Clinical Trials Market (by Application)
10.1 Overview
10.2 Data Aggregation and Analysis
10.3 Clinical Trials
10.4 Drug Design
10.5 Drug Characterization
10.6 Biomarker Research
11 Global AI-Enabled Drug Discovery and Clinical Trials Market (by Therapeutic Applications)
11.1 Overview
11.2 Oncology
11.3 Cardiovascular Diseases
11.4 Nervous System Diseases
11.5 Respiratory Disorder
11.6 Metabolic Diseases
11.7 Immunologic Diseases
11.8 Infectious Diseases
11.9 Others
12 Global AI-Enabled Drug Discovery and Clinical Trials Market (by End User)
12.1 Overview
12.2 Biopharmaceutical Industry
12.3 Contract Research Organizations (CROs)
12.4 Academic Institutes and Research Centers
13 Global AI-Enabled Drug Discovery and Clinical Trials Market (by Region)
13.1 Overview
13.2 North America
13.2.1 U.S.
13.2.2 Canada
13.3 Europe
13.3.1 Germany
13.3.2 U.K.
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 Rest-of-Europe
13.4 Asia-Pacific
13.4.1 China
13.4.2 Japan
13.4.3 South Korea
13.4.4 Australia
13.4.5 India
13.4.6 Rest-of-Asia-Pacific
13.5 Rest-of-the-World
14 Company Profiles
14.1 Accutar Biotechnology Inc.
14.1.1 Company Overview
14.1.2 Role of Accutar Biotechnology in the Global AI-Enabled Drug Discovery and Clinical Trials Market
14.1.3 SWOT Analysis
14.2 AiCure, LLC
14.3 Ardigen
14.4 Atomwise, Inc.
14.5 BenevolentAI
14.6 Berg LLC
14.7 Berkeley Lights, Inc.
14.8 BioAge Labs, Inc.
14.9 Biovista Inc.
14.10 C4X Discovery Holdings PLC
14.11 Clinithink Ltd.
14.12 Cloud Pharmaceuticals, Inc.
14.13 Cyclica, Inc.
14.14 CytoReason
14.15 Symphony Innovation, LLC
14.16 Deep Genomics Inc.
14.17 DeepThink Health Inc.
14.18 Envisagenics, Inc.
14.19 Exscientia Limited
14.20 e-therapeutics PLC
14.21 GNS Healthcare
14.22 Insilico Medicine
14.23 Lantern Pharma Inc.
14.24 Medable, Inc.
14.25 Mind the Byte
14.26 NuMedii, Inc.
14.27 Nuritas, Ltd.
14.28 Owkin, Inc.
14.29 Recursion Pharmaceuticals, Inc.
14.30 Schrdinger, LLC
14.31 TARA Biosystems, Inc.
14.32 twoXAR, Incorporated
14.33 Verge Analytics, Inc.
14.34 Winterlight Labs Inc.
14.35 WuXi Nextcode Genomics
14.36 XtalPi Inc.
For more information about this report visit https://www.researchandmarkets.com/r/4ezrdo
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