About AI for Drug Discovery
Rapid growth in cases of rare diseases, as well as demand for a personalized drug, will help to boost global AI for the drug discovery market. Artificial intelligence (AI) for drug discovery is a technology that uses and different algorithms that value add in decision-making procedures for drug discovery. This technology has the ability to identify drug targets and play a vital role in drug discovery, design, identification, and screening of molecules instantly and effectively. Growing demand in the untapped market will help to fuel market demand.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Atomwise, Inc.. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global AI for Drug Discovery market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Atomwise, Inc. (United States), Insilico Medicine (United States), BIOAGE (United States), Envisagenics (New York), Cloud Pharmaceuticals, Inc. (United States), Numerate (United States), NuMedii, Inc. (United States), BenevolentAI (United Kingdom), twoXAR, Incorporated (United States) and Exscientia (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Globavir, Inc. (United States) and Tute Genomics (PierianDx, Inc.) (United States).
Segmentation Overview
AMA Research has segmented the market of Global AI for Drug Discovery market by and Region.
On the basis of geography, the market of AI for Drug Discovery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Drug Type, the sub-segment i.e. Small Molecule will boost the AI for Drug Discovery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Therapeutic Type, the sub-segment i.e. Metabolic Disease will boost the AI for Drug Discovery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Deep Learning will boost the AI for Drug Discovery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Pharmaceutical Companies will boost the AI for Drug Discovery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Number of Cross-Industry Partnerships & Collaborations and Upsurge In Capital of the R&D Activities for the Use of AI Technology
Market Growth Drivers:
Growing Demand Due To Reduction in Price and High Adoption Due To AI Reduces Researches and Development Gap in the Drug Manufacturing Process
Challenges:
Reluctance among Medical Practitioners to Adopt AI-Based Technologies
Restraints:
High Cost and Technical Limitations Associated with AI for Drug Discovery
Opportunities:
Rising Awareness about AI for Drug Discovery and Huge Demand from Untapped Market
Market Leaders and their expansionary development strategies
On 16th April 2019, Atomwise, Inc., a biotech company using artificial intelligence (AI) for drug discovery, and the Drugs for Neglected Diseases initiative (DNDi), a not-for-profit research and development organization working to deliver new treatments for neglected diseases has launched promising drug-like compounds have been discovered in a program to develop first-in-class treatments for Chagas disease. The research collaboration is part of Atomwise’s Artificial Intelligence Molecular Screen (AIMS) Awards program.
In March 18, 2024, NVIDIA today launched more than two dozen new microservices that allow healthcare enterprises worldwide to take advantage of the latest advances in generative AI from anywhere and on any cloud. The new suite of NVIDIA healthcare microservices includes optimized NVIDIA NIM AI models and workflows with industry-standard APIs, or application programming interfaces, to serve as building blocks for creating and deploying cloud-native applications.
Key Target Audience
AI for Drug Discovery Providers, Pharmaceutical Companies, Medical Associations, Technology Developers, Government Regulatory Bodies, Private and Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.