The Global AI in Drug Discovery Market to Surge at a Phenomenal CAGR of 37.67% During the Forecast Period (20222027) | DelveInsight – GlobeNewswire

New York, USA, Aug. 15, 2022 (GLOBE NEWSWIRE) -- The Global AI in Drug Discovery Market to Surge at a Phenomenal CAGR of 37.67% During the Forecast Period (20222027) | DelveInsight

The AI in drug discovery market is experiencing favorable market expansion as a result of factors such as increased disease prevalence around the world, which has prompted the need for speedier creation of highly safe and efficacious pharmaceuticals. Furthermore, the awareness of the benefits of AI in the pharmaceutical sector is pushing pharmaceutical companies and institutes to invest more in medication research and development. Furthermore, extensive partnerships and collaborations between public and commercial entities at both the national and international levels are projected to drive the AI in drug discovery market forward.

DelveInsight's AI in Drug Discovery Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies market shares, challenges, AI in drug discovery market drivers, barriers, and trends, and key AI in drug discovery companies in the market.

Key Takeaways from the AI in Drug Discovery Market Report

To read more about the latest highlights related to the AI in diagnostic and drug discovery market, get a snapshot of the key highlights entailed in the Global AI in Drug Discovery Market Report

AI in Drug Discovery

Artificial intelligence (AI) has become a part of modern life and continues to pique people's interests. AI enables computers and robots to learn from past behavior and mistakes in the same way that humans can. It has invaded our daily lives, from search engines to self-driving cars to Siri. AI has the potential to make complex drug development operations more efficient and cost-effective, with the goal of reducing the time it takes for a novel medication to reach the patient. The hype surrounding AI has drawn the attention of the life sciences sector to technology.

Artificial intelligence (AI) in drug discovery refers to the use of advanced computing techniques such as machine learning, artificial neural networks, and natural language processing to process large amounts of data in order to assist with the target, lead, and other required inputs for drug discovery and development.

AI in Drug Discovery Market Insights

North America is expected to have the highest revenue share in the global AI in drug discovery market in 2021, out of all regions. This is due to the presence of a large patient population affected by various diseases such as cancer and neurological disorders, which drives the demand for diverse treatments with low adverse effects. Furthermore, the region's considerable focus on clinical research, as well as the presence of key companies from both the pharmaceutical and technology domains, contribute to the growth of the North America AI in drug discovery market.

Canada, like the United States, has a robust ecosystem for AI in the drug discovery process, as evidenced by the fact that multiple startups are working in the country to combine AI with drug development.

Thus, all of the factors mentioned above, such as high disease prevalence and increased emphasis on clinical research and medication development, are predicted to contribute to the growing demand for AI in the drug discovery process. Furthermore, the acquisition of new technologies and the extensive presence of technological and pharmaceutical leaders in the region contribute to the AI in the drug discovery market's regional expansion.

To know more about why North America is leading the market growth in the AI in drug discovery market, get a snapshot of the AI in Drug Discovery Market Trends

AI in Drug Discovery Market Dynamics

High capital investment in the drug research and development process is one of the primary factors impacting the growth of the AI in drug discovery market. Following the traditional technique of drug discovery and development consumes 12-14 years until a final product, the approved medicine, enters the AI in drug discovery market for end-use.

Another component of incorporating AI into the drug discovery and development process is leveraging the technology to identify "trending" areas of research for various diseases that may provide insights regarding any scientific advancements that may be used in launching a new medication development program. Furthermore, the use of AI solutions in the clinical trial process eliminates potential hurdles, aids in the reduction of clinical trial cycle time, and considerably enhances clinical trial productivity and accuracy. As a result, the use of these advanced AI systems in drug discovery procedures is gaining traction among stakeholders in the life sciences industry.

However, knowledge gaps between biologists, chemists, and AI experts, as well as limitations of typical machine learning methods in dealing with the volume of data created in the pharmaceutical area, may prove to be tough issues for the rise of AI in drug discovery market.

Additionally, during the COVID-19 pandemic, the AI in drug discovery market was one of the few that had positive growth. The artificial intelligence platform was extensively used in therapeutic development for the SARS CoV-2 virus. AI was also used in drug repurposing, sometimes known as drug repositioning, to assist bring new medicines to market. For example, Remdesivir was found as a potential treatment for Ebola virus sickness; however, using medication repurposing using AI revealed that the medicine had encouraging results in the treatment of COVID-19 infection. As a result, the AI in drug discovery market showed a good trend during the pandemic, presenting a future outlook for AI in drug discovery market during the forecasted period.

Get a sneak peek at the AI in drug discovery market dynamics @ AI in Drug Discovery Market Dynamics Analysis

Scope of the AI in Drug Discovery Market Report

DelveInsight Analysis: The AI in drug discovery market size is expected to grow at a CAGR of 37.67% during the forecasted period (20222027).

Which MedTech key players in the AI in drug discovery market are set to emerge as the trendsetter explore @ AI in Drug Discovery Companies

Table of Contents

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DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.

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The Global AI in Drug Discovery Market to Surge at a Phenomenal CAGR of 37.67% During the Forecast Period (20222027) | DelveInsight - GlobeNewswire