AI in Drug Discovery Set to Revolutionize Pharma with Nearly 30% Annual Growth

AI in Drug Discovery Market Mergers & Acquisitions/Recent Developments   : 

The AI in Drug Discovery Market Size has seen notable mergers and acquisitions aimed at enhancing service offerings and expanding market reach. For instance, in April 2024, Nvidia partnered with Schrödinger to improve the software's ability to forecast molecules, thereby accelerating drug discovery processes. Additionally, companies like Exscientia have raised significant funding to develop AI-based approaches to drug discovery, highlighting the growing interest and investment in this field. These developments underscore the dynamic nature of the market and the continuous efforts to integrate AI into drug discovery processes.

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Regional Insights: A Global Perspective 

In India, the AI in Drug Discovery Market is gaining momentum due to the country's growing pharmaceutical industry and increasing adoption of advanced technologies. The government's initiatives to promote digital health and the presence of a large pool of skilled professionals are contributing to the market's growth. Additionally, collaborations between Indian pharmaceutical companies and global tech firms are facilitating the integration of AI in drug discovery processes. These factors are positioning India as a significant player in the global AI in Drug Discovery Market.

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Segmenting the AI in Drug Discovery Market:

by Offering

Software
Services
Hardware

The market for AI in drug discovery is divided into two segments: software and hardware services. Over the course of the projected period, software is anticipated to dominate the market. Pharmaceutical businesses may now more effectively analyze large datasets, model molecular interactions, and forecast therapeutic efficacy thanks to AI software platforms. For tasks like virtual screening, biomarker identification, and drug repurposing, these software solutions incorporate cutting-edge technology like deep learning, natural language processing, and predictive analytics.

by Therapeutic Area

Oncology
Neurology
Cardiovascular Diseases
Metabolic Diseases
Immunology
Others

The market is divided into several segments, including immunology, metabolic diseases, cardiovascular diseases, neurology, and oncology. In 2023, oncology will hold the biggest proportion of the AI drug discovery market. Given its enormous potential to revolutionize cancer treatment, oncology stands out as the most beneficial therapeutic field for AI in drug discovery. Traditional drug development strategies are long and expensive since cancer is one of the most complicated and heterogeneous diseases, with each kind displaying distinct genetic and molecular profiles.

by Technology

Machine Learning
Natural Language Processing
Others

by Application

Target Selection and Validation
Drug Screening and Lead Optimization
Clinical Studies
Preclinical studies
Others

AI in Drug Development The market is divided into segments based on application, including AI used in pharmacology, drug design, drug screening, and drug repurposing. The market is dominated by the AI used in drug design and screening. The AI utilized in drug scanning, according to MMR findings, demonstrated that 70% of antimicrobial activity could correctly anticipate the medication's hazardous qualities with a mere 4% error rate. AI is frequently used to identify inhibitory molecules for particular proteins.

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Key Players : 

1. GNS Healthcare (US)
2. BioSymetrics (US)
3. BPGbio, Inc (US)
4. Atomwise Inc (US)
5. Insitro (US)
6. NVIDIA Corporation (US)
7. IBM Corporation (US)
8. Microsoft Corporation (US)
9. Aria Pharmaceuticals, Inc. (US)
10. Insilico Medicine (US)
11. NuMedii, Inc. (US)
12. Owkin Inc. (US)
13. Schrödinger, Inc. (US)
14. DEEP GENOMICS (Canada)
15. Cyclica (Canada)
16. BenevolentAI (UK)
17. Exscientia (UK)
18. Iktos (France)
19. Euretos (Netherlands)
20. Evaxion Biotech A/S (Denmark)
21. XtalPi Inc (China)
22. Standigm (South Korea)

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Critical Questions & Key Findings 

• What is the growth trajectory for the AI in Drug Discovery Market?
• Which factors will drive market expansion in the coming years?
• What are the most promising opportunities and emerging trends in this industry?
• Who are the primary players, and what are their competitive strengths?

These critical questions, among others, are thoroughly addressed, along with projections of CAGR, market segmentation, and revenue streams. This report doesn’t just reveal the current market landscape but also serves as a strategic tool to anticipate market shifts.

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