Drug discovery is the first step in the process of identifying a new drug and its therapeutic target. In the pharmaceutical sector, artificial intelligence (AI) is widely employed for drug discovery. Artificial intelligence technology has the ability to recognise drug targets and can help with drug design, discovery, identification, and screening of molecules in real time. Potency, bioavailability, efficacy, and toxicity are used to estimate drug discovery or new drug targets.
MARKET SCOPE
The "Global AI For Discovery Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the AI for Drug Discovery market with detailed market segmentation by drug type, technology, application and end user. The report provides key statistics on the market status of the leading AI for Drug Discovery market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on drug type the market is segmented as, small molecule and large molecule.
- Based on technology the market is segmented as, deep learning, machine learning.
- Based on application the market is segmented as, metabolic disease, cardiovascular disease, oncology, neurodegenerative diseases, and others.
- Based on end user the market is segmented as, pharmaceutical & biotechnological companies, academic & research institutes, and others.
MARKET DYNAMICS
Drivers:
- Growing adoption of AI in drug discovery and development due to its advantages such as improved efficacy, bioavailabilty and accurate binding sites.
- Increasing R&D investments by pharmaceutical companies to develop novel drug therapies.
- Technological advancements in pharmaceutical and biopharmaceutical sector.
Restraints:
- However, high cost involved in drug discovery process is expected to restrain market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The AI for Drug Discovery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the AI for Drug Discovery market in these regions.
IMPACT OF COVID-19ON AI FOR DRUG DISCOVERY MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the AI for Drug Discovery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from AI for Drug Discovery market are anticipated to lucrative growth opportunities in the future with the rising demand for AI for Drug Discovery in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the AI for Drug Discovery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Atomwise, Inc.
- Insilico Medicine
- BIOAGE
- IBM
- NuMedii, Inc.
- Envisagenics
- Cloud Pharmaceuticals, Inc
- BenevolentAI
- Aria Pharmaceuticals, Inc
- Gero.ai