Artificial Intelligence in Drug Discovery Market is expected to reach the market valuation of US$ 6,996.8 million

Global Artificial Intelligence in Drug Discovery Market is expected to reach the market valuation of US$ 6,996.8 million by 2027 expanding at a significant CAGR of 42.2% during the forecast period (2021-2027) from US$ 597 million in 2020. Artificial intelligence in Drug Discovery is the processes and practicalities of enabling machines to skillfully perform intelligent tasks, without explicitly being programmed for those tasks. This will simplify the procedure of Drug discovery with more efficiency and also lowering the time and cost of the market. It signifies that the market of Artificial Intelligence in Drug discovery will upsurge in the forecast period.

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The various factors driving the Artificial Intelligence in Drug Discovery market include the growing incidences of the rare diseases emerging the necessity for personalized Drugs and the reducing cost of R&D activities by lowering the risks of failure in clinical trials. Furthermore, increasing efficiency and reducing manual work is also anticipated to drive the market. Artificial intelligence technologies are used in Drug discovery to extract concepts and relationships from data and learn independently from data patterns, augmenting what humans can do. It includes computer vision, deep learning, machine learning, natural language processing, robotics, speech, supervised learning, and unsupervised learning. By using these tools, the Drugs are made in less period with efficiency and fewer chances of failure. For instance, in April 2019, BenevolentAI began a long-term collaboration with AstraZeneca, which aimed at using AI and machine learning to develop new treatments for chronic kidney disease (CKD) and idiopathic pulmonary fibrosis (IPF). The collaborations and partnerships are rising for the advancement of new Drugs to treat chronic diseases. It is anticipated that these collaborations will lead to the upsurge of Artificial intelligence in Drug discovery market in the forecast period.

Due to the Covid-19 outbreak, artificial intelligence in Drug discovery and development market has grown significantly. This is due to the surge in adoption of AI with the rise in number of partnerships between AI providers and pharma or biotech companies to develop a Drug for the treatment of patients affected by a coronavirus. For instance, Pepticom, a leader in artificial intelligence peptide Drug design and discovery in March 2021, announced that it has raised UD$ 2.6 million to establish a company to focus on treatments for the SARS-Cov-2 virus, responsible for the COVID-19 outbreak. The company, PeptiCov, will implement Pepticom's AI technology to design, discover and develop novel peptide molecules for effective treatment of the SARS-Cov-2 virus. This gives an idea that many investors are willing to invest in the field of AI in Drug discovery due to its technological advancements and need for the development of Drugs for rare diseases.

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Based on Technology, the market is bifurcated into Machine Learning and Other technologies. The Machine Learning segment dominated the market in 2020 as the advances in wireless technology, miniaturization, and computational power with the use of machine learning architectures are fueling the development of more refined and powerful AI tools.

Based on Components, the market is bifurcated into Software and Service. The Software segment accounted for the major revenue portion in 2020. As the Companies which use software has low cost and takes less time to market the Drug with low failure rates.

Based on Application, the market is bifurcated into Drug optimization and repurposing, Preclinical testing, and others. The Drug optimization and repurposing segment accounted for the major revenue portion in 2020. As the AI platforms help in identifying alternative applications for existing medicines which can help pharma companies expand their collection of offerings and assist in producing alternative therapies through repurposing in pharmaceutical products.
Based on Therapeutic Area, the market is bifurcated into Cardiovascular Diseases, Infectious Diseases, Metabolic Diseases, Neurogenerative Diseases, Oncology, and Others. The Oncology segment accounted for the major revenue portion in 2020. As, as AI plays an important role in the early identification of cancer. Moreover, cancer treatments may be different for every patient and personalized medicine has proven to be an actual alternative.

Additionally, the report provides detailed initiatives that are being taken in the field of Artificial Intelligence in Drug Discovery. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the Artificial Intelligence in Drug Discovery industry and generated the maximum revenue in 2020 owing to the presence of key companies and healthcare infrastructure with the highest spending’s in the world. However, the Europe region would also grow at the same pace during the forecast period.
Some of the major players operating in the market include IBM Corporation, Microsoft, Google, NVIDIA Corporation, Atomwise, Inc., Insilico Medicine, BIOAGE, BenevolentAI, Numerate, NuMedii, etc. Several M&As along with partnerships have been undertaken by these players to develop Artificial Intelligence in Drug Discovery Market.

Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability.

The Market report answers the following questions:
What is the aim of the report?
• The market report presents the estimated market size of Artificial Intelligence in Drug Discovery Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.

• 
  The report analyzes growth rate, market size and valuation of the Market during the forecast period.
  
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  What aspects regarding the regional analysis Market are included in this report?
  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
  • Based on what factors are the key market players assessed in this report?
  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Playes
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
  • the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
  What is the key information extracted from the report?
  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter's Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
  
  Global Artificial Intelligence in Drug Discovery Market Segmentation
  Market Insight, by Technology
  •
  o Machine Learning
  o Other Technologies
  
  Market Insight, by Components
  • Software
  • Service
  Market Insight, by Drug Type
  • Small molecules
  • Large molecules
  
  Market Insight, by Application
  • Drug optimization and repurposing
  • Preclinical testing
  • Others
  
  Market Insight, by Therapeutic Area
  • Cardiovascular Diseases
  • Infectious Diseases
  • Metabolic Diseases
  • Neurogenerative Diseases
  • Oncology
  • Others
  
  Market Insight, by End-user
  • Contract Research Organizations
  • Pharmaceutical & Biotechnology Companies
  • Research Centers and Academic & Government Institutes
  
  Market Insight, by Region
  • North America
  o United States
  o Canada
  o Rest of North America
  • Europe
  o France
  o Germany
  o Italy
  o Spain
  o United Kingdom
  o Rest of Europe
  • Asia-Pacific
  o China
  o Japan
  o India
  o Australia
  o Rest of Asia-Pacific
  • Rest of World
  Top Company Profiles
  • IBM Corporation
  • Microsoft
  • Google
  • NVIDIA Corporation
  • Atomwise, Inc.
  • Insilico Medicine
  • BIOAGE
  • BenevolentAI
  • Numerate
  • NuMedii
  
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