London, May 17, 2023 (GLOBE NEWSWIRE) -- The use of AI application can potentially reduce the span of a typical drug discovery process from 4-5 years to a mere 8-10 months. This is primarily driving the adoption of AI in drug discovery, and a new report of Fairfield Market Research intends to reveal how would the growth of the global AI for drug discovery market will unfold in future. The study reports a notable rise in series funding toward potential applicability of AI in drug discovery. Increasing interest and participation of newer venture capitalists further elevates the scope of growth for the AI for drug discovery market. By the end of 2027, the market will record the valuation of around US$1.6 Bn. Between 2022 and 2027, the market revenue expects more than 4x growth.
“There has been a lot around how the time-to-market can be reduced, over the recent past. Several collaborations, alliances, and technological upgrades in the same direction are driving funds to the market, in turn accelerating the progression ahead. Cloud adoption, and AI are amongst the top influencers so far,” remarks an analyst at the company.
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Insights into Segmentation Analysis
Analysis of the market by end user uncovers the prominence of drug and biotechnology firms in the AI for drug discovery market. The segment registers the largest share of the market pie, whereas the other key segments include research institutes, government organizations and colleges, and contract research organizations. On the other hand, based on application of using AI in drug discovery, research suggests that the immune-oncology segment of the market spearheads with the largest revenue share. The other major market segments include cardiovascular conditions, and metabolic conditions.
Insights into Regional Analysis
North America, according to the preliminary market examination, is likely to be the leading regional pocket and will most likely continue to account for the largest revenue share of the AI for drug discovery market through the end of forecast period. The region is also poised to reflect the highest growth potential and the fastest growth in the long run. The region, especially the US, will continue to gain largely from the strengthening presence of the world’s top pharma and biotech hubs, as well as the AI technology innovators. The market here is also expected to reap the benefits of higher funding going into research, and collaborations. On the other hand, Europe is also a significant market as the region witnesses consistently increasing adoption of AI technology by players in drug discovery, and healthcare domains.
Leading Players in Global AI for Drug Discovery Industry
Google, IBM, Microsoft, Cloud Pharmaceuticals, Deep Genomics, Verge Genomics, BioAge Labs, Insilico Medicine, Exscientia, Numerate, BERG LLC, Atomwise, Inc.
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Global AI in drug discovery market is segmented as below:
By Offering
- Software
- Services
By Technology
- Machine Learning
- Deep Learning
- Supervised Learning
- Reinforcement Learning
- Unsupervised Learning
- Other Machine Learning Technologies
- Others Technologies
By Application
- Immuno-oncology
- Neurodegenerative Diseases
- Cardiovascular Diseases
- Metabolic Diseases
- Other Applications
By End User
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
- Research Centres and Academic & Government Institutes
By Region
- North America
- Europe
- APAC
- Rest of the World (RoW)
Key Elements Included In The Study: Global AI for Drug Discovery Market
- AI for Drug Discovery Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value, 2018 - 2021
- Market Value at Regional and Country Level, 2022 - 2029
- Market Dynamics and Economic Overview
- Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/ai-drug-discovery-market/more-information
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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