The Business Research Company’s Artificial Intelligence (AI) In Drug Discovery Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, April 30, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The global artificial intelligence in drug discovery market is expected to grow from $0.36 billion in 2020 to $0.47 billion in 2021 at a compound annual growth rate (CAGR) of 30.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The AI in drug discovery market size is expected to reach $1.69 billion in 2025 at a CAGR of 38%.
The rise in demand for a reduction in the overall time taken for the drug discovery process in the healthcare market is a key driver propelling the growth of the AI in pharma market size. Traditionally, it takes three to five years for animal models to identify and optimize molecules before they are evaluated in humans whereas start-ups based on AI have been identifying and designing new drugs in a matter of few days or months. For instance, in 2020, the British start-up Exscientia and Japan’s Sumitomo Dainippon Pharma have used artificial intelligence to produce an obsessive-compulsive disorder (OCD) medication, decreasing the development time from four years to less than one year. The reduction in overall time taken for the drug discovery process drives the artificial intelligence in drug discovery market’s growth.
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The artificial intelligence in drug discovery market covered in this report is segmented by technology into deep learning, machine learning. The artificial intelligence (AI) in drug discovery market is also segmented by drug type into small molecule, large molecules; by therapeutic type into metabolic disease, cardiovascular disease, oncology, neurodegenerative diseases, others; by end-users into pharmaceutical companies, biopharmaceutical companies, academic and research institutes, others.
Major players in the artificial intelligence (AI) in drug discovery market are IBM Corporation, Microsoft, Atomwise Inc., Deep Genomics, Cloud Pharmaceuticals, Insilico Medicine, Benevolent AI, Exscientia, Cyclica, and BIOAGE.
Artificial Intelligence (AI) In Drug Discovery Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides artificial intelligence in drug discovery market overview, forecast artificial intelligence in drug discovery market size and growth for the whole market, artificial intelligence in drug discovery market segments, and geographies, AI in drug discovery market trends, artificial intelligence in drug discovery market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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