Pune, Jan. 31, 2024 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global AI in Drug Discovery & Development Market is expected to clock US$ 8,318.08 million by 2031 and to grow at a CAGR of 30.4% during the forecast period.
The global AI in Drug Discovery & Development Market is experiencing remarkable growth, driven by the transformative impact of artificial intelligence on pharmaceutical research and development processes. A comprehensive analysis of the market reveals a dynamic landscape dedicated to accelerating drug discovery, optimizing development pipelines, and unlocking new possibilities in the pharmaceutical industry.
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AI in Drug Discovery & Development Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 994.95 million |
| Market Size Value in 2031 | US$ 8,318.08 million |
| CAGR | 30.4% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments Covered | Offering, Technology, Molecule Type, Application, End Users, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Market Overview:
The integration of artificial intelligence (AI) in drug discovery and development has emerged as a game-changer, revolutionizing traditional approaches and bringing efficiency to the pharmaceutical research and development (R&D) lifecycle. AI technologies, including machine learning, deep learning, and natural language processing, are being deployed to enhance target identification, lead optimization, clinical trial design, and other critical stages of drug development.
Key Market Drivers:
- Acceleration of Drug Discovery: AI in Drug Discovery expedites the identification of potential drug candidates by analyzing vast datasets, predicting molecular interactions, and suggesting novel drug targets. This accelerates the drug discovery process, significantly reducing the time and costs traditionally associated with bringing new drugs to market.
- Precision Medicine and Personalized Therapies: AI technologies enable the analysis of patient data at a granular level, facilitating the development of personalized therapies and precision medicine approaches. By leveraging patient-specific information, AI enhances the identification of biomarkers, stratification of patient populations, and optimization of treatment outcomes.
- Optimization of Clinical Trial Design: AI algorithms analyze historical clinical trial data to optimize the design of new trials, improving patient recruitment, endpoint selection, and overall trial efficiency. This results in shorter development timelines, reduced costs, and increased success rates in bringing new drugs to market.
Competitive Landscape:
The global AI in Drug Discovery & Development market features a competitive landscape with key players contributing to technological advancements and market growth. The report profiles major companies, offering insights into their AI solutions, collaborations, strategic partnerships, and recent innovations.
Challenges and Opportunities:
While the AI in Drug Discovery & Development market presents significant opportunities, challenges such as data privacy concerns, regulatory considerations, and the need for validated AI models in drug development need to be addressed. However, ongoing research, collaborations with regulatory authorities, and the potential for market expansion in emerging economies offer avenues for growth.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecasted Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL AI IN DRUG DISCOVERY & DEVELOPMENT MARKET- ANALYSIS & FORECAST, BY OFFERING
- Software
- Services
- GLOBAL AI IN DRUG DISCOVERY & DEVELOPMENT MARKET- ANALYSIS & FORECAST, BY TECHNOLOGY
- Machine Learning
- Deep Learning
- Supervised & Unsupervised Learning
- Reinforcement Learning
- Others
- GLOBAL AI IN DRUG DISCOVERY & DEVELOPMENT MARKET- ANALYSIS & FORECAST, BY MOLECULE TYPE
- Small Molecule
- Large Molecule
- GLOBAL AI IN DRUG DISCOVERY & DEVELOPMENT MARKET- ANALYSIS & FORECAST, BY APPLICATION
- Cardiovascular Diseases
- Neurodegenerative Diseases
- Infectious Diseases
- Metabolic Diseases
- Immuno-Oncology
- Others
Future Outlook:
The report provides a forward-looking perspective on the AI in Drug Discovery & Development market, offering insights into potential growth opportunities, emerging trends, and factors that could shape the market in the coming years. With a focus on optimizing drug discovery processes and advancing precision medicine, the global market is poised for continued innovation and adoption of AI-driven solutions.
In conclusion, the report serves as a valuable resource for industry stakeholders, providing a comprehensive analysis of market trends, challenges, and opportunities. As AI continues to reshape the pharmaceutical R&D landscape, the AI in Drug Discovery & Development Market is expected to play a pivotal role in shaping the future of drug development and healthcare worldwide.
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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About Us:
Growth Plus Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).
Growth Plus portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.
We were awarded by the prestigious CEO Magazine as Most Innovative Healthcare Market Research Company in 2020.
