Dublin, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The "Artificial Intelligence (AI) In Drug Discovery Global Market Opportunities And Strategies To 2031: COVID-19 Growth And Change" report has been added to ResearchAndMarkets.com's offering.
The global artificial intelligence (AI) in drug discovery market reached a value of nearly $791.8 million in 2021, having increased at a compound annual growth rate (CAGR) of 31.0% since 2016. The market is expected to grow from $791.8 million in 2021 to $2,994.5 million in 2026 at a rate of 30.5%. The market is then expected to grow at a CAGR of 25.4% from 2026 and reach $9,293.0 million in 2031.
Growth in the historic period in the artificial intelligence (AI) in drug discovery market resulted from growing adoption of artificial intelligence (AI) for cost efficient drug discovery, growing number of cross-industry collaborations and partnerships, and increasing use of artificial intelligence (AI) for tracking medication adherence. The market was restrained by shortage of skilled labor, challenges due to regulatory changes, low healthcare access, and high rate of AI project failures.
Going forward, rising adoption of cloud-based applications and services, increasing need to control drug discovery & development costs and reduce the overall time, and government initiatives in developing economies will drive market growth. Factors that could hinder the growth of the market in the future include incompatible legacy health IT infrastructure.
North America was the largest region in the artificial intelligence (AI) in drug discovery market, accounting for 44.0% of the total in 2021. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the artificial intelligence (AI) in drug discovery market will be South America and Asia Pacific where growth will be at CAGRs of 40.0% and 37.2% respectively during 2021-2026. These will be followed by Africa and Western Europe, where the markets are expected to register CAGRs of 34.4% and 33.2% respectively during 2021-2026.
The global artificial intelligence (AI) in drug discovery market is concentrated, characterized by the presence of global artificial intelligence (AI) in drug discovery providers. The top ten competitors in the market made up to 50.21% of the total market in 2020. Artificial intelligence (AI) has the potential to transform the pharmaceutical industry.
The top opportunities in the artificial intelligence (AI) in drug discovery market segmented by technology will arise in deep learning segment, which will gain $747.0 million of global annual sales by 2026. The top opportunities in the artificial intelligence (AI) in drug discovery market segmented by drug type will arise in small molecules segment, which will gain $1,287.0 million of global annual sales by 2026.
The top opportunities in the artificial intelligence (AI) in drug discovery market segmented by therapeutic type will arise in other diseases segment, which will gain $480.2 million of global annual sales by 2026. The top opportunities in the artificial intelligence (AI) in drug discovery market segmented by end-users will arise in pharmaceutical companies segment, which will gain $1,028.0 million of global annual sales by 2026. The artificial intelligence (AI) in drug discovery market size will gain the most in the USA at $621.3 million.
Scope
Markets Covered:
1) By Technology: Context-Aware Processing; Natural Language Processing; Querying Method; Deep Learning
2) By Drug Type: Small Molecule; Large Molecules
3) By Therapeutic Type: Metabolic Disease; Cardiovascular Disease; Oncology; Neurodegenerative Diseases; Respiratory Diseases; Anti-Infective Diseases; Other Therapeutic Areas
4) By End-Users: Pharmaceutical Companies; Biopharmaceutical Companies; Academic And Research Institutes; Others
Key Topics Covered:
1. Artificial Intelligence (AI) In Drug Discovery Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
7. Artificial Intelligence (AI) In Drug Discovery Market Characteristics
8. Artificial Intelligence (AI) In Drug Discovery Market Trends And Strategies
9. Impact Of COVID-19 On Artificial Intelligence (AI) In Drug Discovery
10. Global Artificial Intelligence (AI) In Drug Discovery Market Size And Growth
11. Global Artificial Intelligence (AI) In Drug Discovery Market Segmentation
12. Artificial Intelligence (AI) In Drug Discovery Market, Regional And Country Analysis
13. Asia-Pacific Artificial Intelligence (AI) In Drug Discovery Market
14. Western Europe Artificial Intelligence (AI) In Drug Discovery Market
15. Eastern Europe Artificial Intelligence (AI) In Drug Discovery Market
16. North America Artificial Intelligence (AI) In Drug Discovery Market
17. South America Artificial Intelligence (AI) In Drug Discovery Market
18. Middle East Artificial Intelligence (AI) In Drug Discovery Market
19. Africa Artificial Intelligence (AI) In Drug Discovery Market
20. Artificial Intelligence (AI) In Drug Discovery Market Competitive Landscape
21. Key Mergers And Acquisitions In The Artificial Intelligence (AI) In Drug Discovery Market
22. Artificial Intelligence (AI) In Drug Discovery Market Opportunities And Strategies
23. Artificial Intelligence (AI) In Drug Discovery Market, Conclusions And Recommendations
24. Appendix
Companies Mentioned
- IBM Corporation
- Benevolent AI
- Nvidia Corporation
- Exscientia
- Concreto HealthAI
For more information about this report visit https://www.researchandmarkets.com/r/cmexvr
Attachment
