Artificial Intelligence In Drug Discovery Market By Therapeutic Area (Oncology, Cardiovascular Disease, Metabolic Diseases), By Application- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global Artificial Intelligence In Drug Discovery market gathered revenue around USD 1.9 Billion in 2020 and market is set to grow USD 4.7 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 29.2% during the prediction period 2021 to 2027.
The growing adoption of artificial intelligence (AI) platforms aimed at reducing the overall cost associated with drug discovery and to enhance results is expected to propel the demand for these platforms in the pharma market.
Based on the application, the drug optimization and repurposing segment accounted for the largest revenue share in 2020. AI platforms help in identifying alternative applications for existing medicines. This can help pharma companies diversify their portfolio of offerings and assist in producing alternative therapies through minor alterations in the pharmaceutical product. Furthermore, AI platforms also enable researchers to identify the toxic effects of the medicine on the body and thus reduce the chances of adverse effects.
In 2020, oncology application accounted for the largest share whereas, the infectious disease application segment is expected to emerge as the fastest-growing application segment over the forecast period. Artificial intelligence already plays a vital role in the early detection of cancer. Furthermore, as treatments for cancer may vary for each patient, personalized medicine has proven to be an effective alternative.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Artificial Intelligence In Drug Discovery market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Artificial Intelligence In Drug Discovery market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 4.7 Billion by 2027|
|Growth Rate||CAGR of 29.2% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Application, therapeutic area And Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||IBM Watson; Exscientia; GNS Healthcare; Alphabet (DeepMind); Benevolent AI; BioSymetrics; Euretos; Berg Health; Atomwise; Insitro; Cyclica|
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Artificial Intelligence In Drug Discovery market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America dominated the market and accounted for the highest revenue share of 59.7% in 2020. One of the key factors for the large market share is the adoption of AI systems in the U.S. which is further propelled by the presence of several companies in the country. According to the RELX survey findings, the adoption of AI has increased from 48.0% in 2018 to 72.0% in 2019. This is mainly due to the growing positive perception of AI amongst businesses.
Asia Pacific is expected to emerge as the fastest-growing region in the market. The growing adoption of new technology in India and China for new drug development and a focus towards boosting pharmaceutical capacities within the countries is expected to drive the market for AI platforms for drug discovery in the region. The market in this region is expected to witness a CAGR of 32.1% by the end of the forecast period.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Artificial Intelligence In Drug Discovery Market include: IBM Watson; Exscientia; GNS Healthcare; Alphabet (DeepMind); Benevolent AI; BioSymetrics; Euretos; Berg Health; Atomwise; Insitro; Cyclica
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- By Application
- Drug optimization and repurposing
- Preclinical testing
- By Therapeutic Area
- Neurodegenerative Diseases
- Cardiovascular Disease
- Metabolic Diseases
- Infectious Disease
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Artificial Intelligence In Drug Discovery market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Artificial Intelligence In Drug Discovery market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Artificial Intelligence In Drug Discovery markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Artificial Intelligence In Drug Discovery Market Study:
- Growth of Artificial Intelligence In Drug Discovery in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Artificial Intelligence In Drug Discovery and How to Navigate
- Key Product Innovations and Regulatory Climate
- Artificial Intelligence In Drug Discovery Consumption Analysis
- Artificial Intelligence In Drug Discovery Production Analysis
- Artificial Intelligence In Drug Discovery and Management