Report Ocean is a leading provider of in-depth market research reports, analyzing over 150 countries’ markets. With a focus on accuracy, their team of expert researchers and professionals curates insights from credible sources. Using methodologies like SWOT and PESTEL analysis, as well as regression analysis, they provide accurate growth forecasts. The report delves into industry regulations, research technology, innovation, and future advancements in AI in Drug Discovery.
The global AI in drug discovery market size was US$ 910.7 million in 2021. The global AI in drug discovery market size is forecast to reach US$ 9,072.2 million by 2030, growing at a compound annual growth rate (CAGR) of 29.1% during the forecast period from 2022 to 2030.
Request To Download Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1540
AI could help pharmaceutical companies get drugs to market more quickly. Today, AI is being trained to forecast medicine efficacy and adverse effects and manage the enormous volumes of paperwork and data required to support any pharmaceutical product, in addition to doing spectacular gene-sequencing work. Artificial intelligence refers to a machine’s ability to employ modern technology to do tasks that are comparable to those performed by the human mind (AI). The basic objective of drug discovery research is to find medications that may be used to either prevent or treat specific disorders. The difficulties of evaluating, gathering, and utilizing data to address difficult medical problems fueled the need for artificial intelligence (AI) in the drug discovery sector.
Factors Influencing Market Growth
• The rising demand for the discovery and development of novel drug therapies and the growing manufacturing capacities of the life science industry drive the global market.
• The increasing number of public-private partnerships boosting the adoption of AI-powered solutions in drug discovery and development processes boosts the global market growth.
• The increasing demand to curb drug discovery prices, decrease the time involved in the drug development process, and the growing adoption of cloud-based applications and services fuel the global market growth.
• The limited availability of the AI workforce, unclear regulatory guidelines for medical software, and a dearth of data sets in this field may slow down the overall market growth.
Impact Analysis of COVID-19
Since the COVID-19 pandemic put a strain on the current healthcare systems and increased demand for innovative drug therapies, pharmaceutical companies acted quickly to incorporate AI-powered solutions in clinical trial studies and accelerate the development of new drugs both during and after the pandemic. Thus, the COVID-19 pandemic had a positive impact on the global market.
Regional Analysis
North America garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the early adoption of advanced technologies and the presence of important AI technology suppliers and top startup companies. In addition, the well-established pharmaceutical sector and increasing focus on R&D with significant R&D investments.
Get a Sample PDF copy of the report @https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1540
Leading Competitors
The leading prominent companies profiled in the global AI in drug discovery market are:
• IBM Watson
• Exscientia
• GNS Healthcare
• Alphabet (DeepMind)
• Benevolent AI
• BioSymetrics
• Euretos
• Berg Health
• Atomwise
• Insitro
• Cyclica
• Other Prominent Players
Scope of the Report
The global AI in drug discovery market segmentation focuses on Offering, Technology, End-User, Application, and Region.
Segmentation based on Offering
• Software
• Services
Segmentation based on End-User
• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations
• Research Centers and Academic & Government Institutes
Segmentation based on Application
• Immuno-Oncology
• Neurodegenerative Diseases
• Cardiovascular Diseases
• Metabolic Diseases
• Other Applications
Download Sample Report, SPECIAL OFFER (Avail an Up-to 30% discount on this report )@https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1540
Segmentation based on Region
• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America
❯❯❯❯To purchase this premium report click here
Meta Title: AI in Drug Discovery Market Size, Share, Insight and Forecast 2022 to 2030
Meta Description: Global AI in Drug Discovery Market is projected to reach US$ 9,072.2 million by the end of 2030 from US$ 910.7 million in 2021, at a CAGR of 29.1%
Meta Keywords: AI in drug discovery market Size, AI in drug discovery market share, AI in drug discovery market trend, AI in drug discovery market Forecast, AI in drug discovery market insight
Frequently Asked Questions: –
- What is the market size and growth rate of the industry? The market size of the industry is [current market size], and the growth rate over the past [time period] has been [growth rate].
- Who are the major players in the market? The major players in the market include [list of major players], who dominate the industry due to their [reasons for dominance].
- What are the key factors driving market growth? Market growth is primarily driven by factors such as [list of key growth drivers], which have contributed to the industry’s expansion.
- What are the main challenges or barriers faced by market participants? Market participants encounter challenges such as [list of main challenges], which can impact their operations and growth prospects.
- Are there any regulatory or legal factors affecting the market? Yes, regulatory and legal factors such as [specific regulations or laws] have an influence on the industry, shaping its operations.
- What are the emerging trends or opportunities in the market? Emerging trends like [list of emerging trends] present opportunities for innovation and growth within the industry.
- How is the market segmented, and what are the characteristics of each segment? The market is segmented into [list of segments], each with distinct characteristics such as [segment characteristics].
- What are the pricing trends observed in the market? Pricing trends in the market indicate [description of pricing trends], which are influenced by [factors influencing pricing].
- How does the competitive landscape look in the industry? The competitive landscape is [description of competitive landscape], with players competing based on [competitive strategies].
- What are the consumer preferences or buying behaviors in the market? Consumer preferences include [list of consumer preferences], affecting buying behaviors such as [common buying patterns].
- Are there any regional or geographic variations in the market? Yes, the market exhibits regional variations [mention specific variations], resulting from [reasons for regional differences].
- What are the projected market forecasts for the coming years? The projected market forecasts for the next [time period] suggest [forecasted trends], driven by [anticipated factors].
- Are there any investment opportunities or potential areas for growth? Investment opportunities can be found in [mention investment opportunities], particularly in [promising areas for growth].
- How can businesses overcome the challenges and succeed in the market? Businesses can overcome challenges by [strategies to overcome challenges], leading to greater success in the market.
- What are the recommended strategies for market entry or expansion? Recommended strategies for market entry/expansion include [list of strategies], which can ensure a successful market presence.
Access Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1540
About Report Ocean:
Report Ocean is a renowned provider of high-quality market research reports, assisting clients in achieving their objectives and enhancing market share in competitive environments. Their reports offer valuable insights to individuals, organizations, and industries seeking comprehensive market intelligence.
Contact Information:
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611, United States
Telephone: +1 888 212 3539 (US – Toll-Free)
Website: https://www.reportocean.com/