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Global Artificial Intelligence in Drug Discovery Market 2021: By Application (Drug optimization and repurposing, Preclinical testing, Others), By Therapeutic Area (Oncology, Neurodegenerative Diseases, Cardiovascular Disease, Metabolic Diseases, Infectious Disease, Others)Global Artificial Intelligence in Drug Discovery Market is the title of an upcoming report offered by Trusted Business Insights. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global artificial intelligence in drug discovery market has been segmented on the basis of application, therapeutic area, as well as regions and countries. The Global Artificial Intelligence In Drug Discovery market size was valued at USD $590.42 Million in 2020, USD $758.99 Million in 2021, forecasted to reach USD $975.68 Million in 2022, and is projected to reach USD $7281.68 Million by 2030, and is anticipated to expand at a CAGR of 28.55% over the forecast period from 2020 to 2030.
Overview:Generally, Artificial Intelligence (AI) is anything a computer can do that formerly was considered a job for a human, except, the pace of change in computing is what makes the difference. Artificial intelligence in drug discovery helps in identifying drug targets, find good molecules from data libraries, suggest chemical modifications, identify candidates for repurposing, etc.
Dynamics:In recent years, the growing need to lower the cost of novel drug discovery and production is a primary factor that is expected to fuel the revenue growth of the global artificial intelligence in drug discovery market over the next 10 years. Moreover, there are vast amounts of data that is generated during the molecule screening processes and preclinical studies, which must be processed. The use of AI simplifies the process of collating and analyzing this data, thereby, lowering the screening process timeline, and reducing costs as a result. In light of the recent COVID-19 outbreak, the operations of numerous industries have been either temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global artificial intelligence in drug discovery industry is no different, however, given the graveness of these present circumstances, the need to lower time required for in-depth analysis is of paramount importance. This is another factor that is anticipated to boost the revenue growth of the global artificial intelligence in drug discovery market in the near future. Preclinical testing is an area that usually results in high revenue loss and low returns, as such, the need to optimize the preclinical testing phase is a significant factor that is expected to further augment market growth of this global industry in the years to come.
Segmentation of the global artificial intelligence in drug discovery market is as follows:In terms of therapeutic area, the oncology segment accounted for the maximum number of revenue shares of the global artificial intelligence in drug discovery market in 2020. The infectious disease application segment is also anticipated to index a considerably high CAGR over the next 10 years. On the basis of application, the drug optimization & repurposing segment constituted the majority number of revenue shares of the global artificial intelligence in drug discovery market in 2020. The preclinical testing segment is also slated to index considerable revenue growth over the next decade.
Below are the leading companies profiled in this Artificial Intelligence In Drug Discovery Market Report:
Chapter 1 Methodology and Scope