Dublin, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The "Global Markets for Artificial Intelligence in Drug Discovery" report has been added to ResearchAndMarkets.com's offering.
The current report will provide a detailed overview of the AI in the drug discovery market. This report analyzes the market trends associated with AI in drug discovery using data from 2020, estimates from 2021, projections of compound annual growth rates through 2028 (i.e., the forecast period 2023-2028), and information about regional markets of AI in drug discovery.
The change AI will bring about in drug discovery will take some time. Despite the stunning results of AI-driven innovations, established pharmaceutical corporations still enjoy a number of benefits. Financial resources, specialized scientific expertise, research and development experience, familiarity with regulations, and teams with well-known commercial and branding identities are a few of these. However, some of the incumbency pillars are already showing signs of early deterioration.
Massive fundraising efforts and less costly in vitro work are lowering the financial barriers for new research programmes. The ranks of AI natives, who are gradually mimicking the benefits of giant enterprises, are currently being populated by scientists and medical specialists.
Given the revolutionary potential of this technology, pharma companies need to make plans for a future in which AI is frequently utilized in drug research. The applications are varied, and pharma companies must decide where and how AI may most benefit them. Emerging companies are ramping up quickly and adding significant value. In practice, it entails taking the time necessary to comprehend the whole impact that AI is having on R&D, which involves separating hype from genuine achievement and realizing the distinction between standalone software solutions and end-to-end AI-enabled drug development.
The increasing prevalence of chronic diseases is boosting the already growing demand for AI in the drug discovery market. Chronic disease affects hundreds of million patients globally. Approximately 45% of Americas, or 133 million people, suffer from one or more chronic healthcare conditions. Similarly, in Europe, nearly 60 million people have more than one chronic disease. Chronic disease prevalence is expected to rise rapidly in the forecast period (2023-2028), and this is expected to create a significant burden on global healthcare.
Similarly, inorganic strategies amongst market players are also boosting the AI in drug discovery market. For instance, BioNTech SE, a German company that focuses on developing vaccines for infectious diseases as well as cancer medicines such as personalized immunotherapy, acquired InstaDeep, the U.K. based AI start-up engaged in developing a system for making decisions that is intended to train employees and guarantee talent retention.
BioNTech acquired InstaDeep for $683 million, and this enabled it to take advantage of the firm's AI-driven decision-making tools to enhance its own drug discovery and production procedures. This acquisition involves creating personalized cancer vaccines, for which BioNTech and the U.K. government initiated clinical trials on January 6, 2023.
The other vital driving factors are innovation, technological advancements, adoption of AI technologies in pharma industries, and cross-industry collaborations and mergers; these are anticipated to increase the demand for AI in drug discovery during the forecast period. However, limitations associated with AI in drug discovery and shortage of AI workforce will likely impede market growth during the forecast period.
Major players in the AI in the drug discovery markets include Atomwise Inc., BenevolentAI, Exscientia, Insilico Medicine, Recursion Pharmaceuticals and many others. All the major and emerging players are offering a wide range of AI offerings for various therapeutic areas.
This report will highlight the current and future market potential of AI in drug discovery and provide a detailed analysis of the competitive environment. It will cover regulatory scenarios, drivers, restraints and opportunities as well as market projections for 2028 and the market shares held by key market players.
Report Includes
- Analyses of the global market trends, with historical market revenue data (sales figures) from 2020-2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Estimation of the actual market size and revenue forecast for the AI in drug discovery market, and corresponding market share analysis based on application, therapeutic area, and region
- In-depth information (facts and figures) concerning the major factors influencing the progress of this market (drivers, restraints, opportunities, and industry-specific challenges) with respect to specific growth trends, upcoming prospects, and contributions to the overall market
- Understanding of the importance of ESG in the AI in drug discovery market, consumer attitudes, risks and opportunity assessment, and ESG followed practices by top vendor companies
- Discussion of emerging technologies and new developments in the AI in drug discovery market
- Identification of the major and emerging players who are considered as leaders in the AI in drug discovery market, as well as technological means these companies are using to exploit their markets and dominate the market in their fields
- Review of the structure of this industry with respect to company market shares, venture fundings, and recent merger and acquisition (M&A) activities
- Analysis of their company competitive landscape based on recent developments, key financials and segmental revenues, and operational integration
- Detailed company profiles of the leading market players, including Atomwise Inc., BenevolentAI, Insilico Medicine, Exscientia plc, Recursion Pharmaceuticals Inc., and Schrodinger
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 172 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2028 | $5.75 Billion |
| Compound Annual Growth Rate | 29.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
- Overview
- Artificial Intelligence
- Drug Discovery
- Artificial Intelligence in Drug Discovery
- Study Goals and Objectives
- Reasons for Doing this Study
- Scope of Report
- Methodology
- Information Sources
- Geographic Breakdown
Chapter 2 Summary and Highlights
- Market Outlook
- Market Insights
Chapter 3 Market Overview
- Introduction
- Future Perspectives
Chapter 4 Market Dynamics
- Market Drivers
- Rising Prevalence of Chronic and Infectious Diseases Globally
- Increasing Adoption of Ai in Pharmaceutical Sector
- Potential of Ai in Pharma Sector
- Market Restraints
- Challenges With Ai in Drug Discovery
- Market Opportunities
- Partnerships and Mergers Between Sectors
Chapter 5 Regulatory Landscape and Reimbursement Scenario
- Regulatory Landscape
- North America
- Europe
- Asia-Pacific
Chapter 6 Impact of Covid-19 on Market
- Overview
- Covid-19 Crisis
- Covid-19 Drug Discovery and Vaccine Development Using Ai
- Impact of Covid-19 on Ai in Drug Discovery
- Covid-19 Measures
Chapter 7 Market Breakdown by Application
- Applications of Ai in Drug Discovery
- Preclinical Testing
- Target Identification
- Candidate Screening and Lead Optimization
- Drug Repurposing
- De Novo Drug Design
- Other Applications
Chapter 8 Market Breakdown by Therapeutic Area
- Ai in Drug Discovery by Therapeutic Area
- Oncology
- Infectious Diseases
- Neurodegenerative Diseases
- Cardiovascular Diseases
- Metabolic Diseases
- Other Diseases
Chapter 9 Market Breakdown by Region
- Overview
- North America
- U.S. Market Size and Forecast
- Canadian Market Size and Forecast
- Europe
- German Market Size and Forecast
- U.K. Market Size and Forecast
- French Market Size and Forecast
- Italian Market Size and Forecast
- Spanish Market Size and Forecast
- Rest of European Market Size and Forecast
- Asia-Pacific
- Chinese Market Size and Forecast
- Japanese Market Size and Forecast
- Indian Market Size and Forecast
- South Korean Market Size and Forecast
- Rest of Asia-Pacific Market Size and Forecast
- Rest of the World
- South American Market Size and Forecast
- Middle East and African Market Size and Forecast
Chapter 10 Esg Development
- Introduction to Esg
- Environmental
- Social
- Government
- The Sustainability of Ai Suppliers in Drug Discovery Industry
- Pharma End-user Sustainability in the Ai Industry
- Case Study
- Concluding Remarks
Chapter 11 Emerging Technologies and Developments
- Overview
- Current Market Trends
- Emerging Technologies
- Cell Painting
- Quantum Computing
- Metabolomics
Chapter 12 M&A and Funding Outlook
- M&A Analysis
- Major Strategic Alliances
Chapter 13 Competitive Landscape
- Competitive Analysis
- Vision and Strategy for Ai
- Technology and Data
- External Ai Collaborations
- Managing Internal Talent
- Culture and Methods of Work
- Company Share Analysis
Chapter 14 Company Profiles
- Aria Pharmaceuticals Inc.
- Atomwise Inc.
- Benevolentai
- Exscientia plc
- Insilico Medicine
- Recursion Pharmaceuticals Inc.
- Relay Therapeutics Inc.
- Schrodinger Inc.
- Xtalpi Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ttmn2p
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