Vancouver, British Columbia--(Newsfile Corp. - April 12, 2021) - The global Intelligent Drug Discovery Market is forecasted to be worth USD 3,711.8 Million by 2027, according to a current analysis by Emergen Research. The market is witnessing increased demand due to the rise in the integration of AI in drug discovery, increasing collaboration, and partnerships among market vendors. It also helps to streamline the research and development activities for complex drug discovery and personalized medicines.
The technology is useful in finding new molecules from the molecule library, identify drug targets, and develop personalized medicines in the industry. AI makes the whole process quick and cost-effective. Several factors are aiding in the growth of the market, such as an increase in the number of people suffering, the flourishing healthcare industry, along with manufacturers' approach towards reducing the overall cost associated with drug development.
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A surge in the number of Biopharma companies and a rise in the public & private partnerships for research and development activities will boost the demand for the market. High level of investment in the development of healthcare infrastructure by the government, growing awareness regarding the benefits of artificial intelligence in solving complex situations will support the demand for the market. Moreover, the strategic approach to lower the cost of drug discovery will also augment the revenue of the market.
Key participants include:
IBM Corporation, Microsoft Corporation, Google, NVIDIA Corporation, Cloud Pharmaceuticals, Inc., Atomwise, Inc., Insilico Medicine, Exscientia, Bioage, and Envisagenics, among others.
Key Highlights From The Report
In November 2020, Indivumed launched a groundbreaking artificial intelligence platform to leverage multi-omics data for discoveries in oncology. The company built cutting-edge technology to automate and integrate analytics across oncology bioinformatics to unlock its cast potential.
The intelligent drug discovery services segment is expected to grow with a significant CAGR. Artificial intelligence is a complex method that requires the implementation of complex, sophisticated algorithms for wide application in precision medicine, drug discovery, and diagnosis.
The application of deep learning in the pharmaceutical industry has emerged successfully, and its application has gone beyond the prediction of bioactivity and is used in various diverse problems of drug discovery.
Cardiovascular disease is the number one cause of death in the world. Intelligent drug discovery helps in driving unprecedented productivity enhancements and better outcomes across the value chain from drug discovery to delivery.
North America held a larger market share due to the increasing demand for AI from the U.S. and the presence of a large number of players in the region. The advanced healthcare infrastructure in the country and growing investment in R&D will also propel the market demand.
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For the purpose of this report, Emergen Research has segmented into the global Intelligent Drug Discovery Market on the offering, technology, application, end-user, and region:
Offering Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
End-User Outlook (Revenue, USD Billion; 2017-2027)
Contract Research Organizations
Pharmaceutical & Biotechnology Companies
Research Centers and Academic & Government Institutes
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Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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