The global artificial intelligence (AI) in drug discovery market size is expected to reach USD 4.05 billion by 2028 according to a new study by Polaris Market Research. The report “Artificial Intelligence in Drug Discovery Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Area (Oncology, Neurodegenerative Diseases, Cardiovascular Disease, Metabolic Diseases, Infectious Disease, Others); By Application; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Based on therapeutic areas, the global artificial intelligence (AI) in drug discovery market is segmented into oncology, neurodegenerative diseases, cardiovascular disease, metabolic diseases, infectious diseases, and others. In 2020, the oncology segment accounted for the largest revenue share. Artificial intelligence plays an important role in the pre-diagnosis of cancer. Cancer treatments vary from person to person and personalized medicine has played an important role.
Artificial intelligence (AI) platforms are designed to ascertain genetic mutations, helping oncologists in designing effective treatment plans. In this line, a Switzerland-based company, Sophia Genetics developed an AI platform that helps to identify tumors by detecting genetic variations and devising personalized cancer treatment plans.
However, the infectious disease segment of artificial intelligence (AI) in drug discovery industry is projected to witness a lucrative growth rate over the study period. The increasing adoption of artificial intelligence (AI) platforms in infectious diseases to identify key infection patterns. A positive scenario for the segment is also illustrated by key partnerships and collaborations in the market for artificial intelligence (AI) in drug discovery.
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For instance, artificial intelligence (AI)-based drug discovery company, Existencia, entered into an agreement with Scripps Research to identify COVID-19 antiviral therapies. On the same ground, Google’s Deepmind company also working on the artificial intelligence (AI) platform AlphaFold. The product is designed to provide information on several proteins involved in the diagnosis of SARS and COVID-19.
Market participants such as IBM Watson, Alphabet (DeepMind), Exscientia, GNS Healthcare, Insitro, BioSymetrics, Euretos, Berg Health, Benevolent AI, Atomwise, and Cyclica. are some of the key players operating in the global market. The companies in the artificial intelligence (AI) industry are involved in collaborations and partnerships with artificial intelligence (AI) platform providers to revolutionize medical treatment.
In this direction, in January 2021, the U.S.-based provider of biomarkers-based therapy, Nucleai signed a collaboration agreement with Debiopharm, pharma company pioneering in drug development. According to the agreement the latter will use Nucleai’s artificial intelligence (AI) platform for its pipeline oncology drug candidates.
Global Artificial Intelligence (AI) in Drug Discovery Market The GMI Research predicts that the Artificial Intelligence (AI) in Drug Discovery Market will perceive an increase in demand over the forecast period.
This is because of the potential of AI to find out drugs for complicated conditions and the aggravating emphasis of major players to offer platforms for neurological ailments.
Request a free sample of this reportAI in Drug Discovery Market DynamicsThe soaring number of cross-industry mergers and alliances, as well as the increasing need to manage drug discovery and establishment cost, are the notable factors elevating the growth of the global artificial intelligence in the drug discovery market.
In addition, the growing endorsement of cloud-based exertion and services and the imminent expiry of patents of colossus drugs are supplementing the market growth.Moreover, the mounting amount of huge data created by the molecule investigation procedures and the presymptomatic studies is encouraging the acquisition of artificial intelligence across the drug delivery space.
Thus, this rising endorsement of artificial intelligence to conduct accustomed processes such as personalization potential and data mining of AI platforms is paving the way for market growth.
Besides this, the AI-based models help to avoid the experimental cost and effective projection of cross-species differences.
