Artificial intelligence in medicine is the use of machine learning models to search medical data and uncover insights to help improve health outcomes and patient experiences. Thanks to recent advances in computer science and informatics, artificial intelligence (AI) is quickly becoming an integral part of modern healthcare. AI algorithms and other applications powered by AI are being used to support medical professionals in clinical settings and in ongoing research. Currently, the most common roles for AI in medical settings are clinical decision support and imaging analysis. Clinical decision support tools help providers make decisions about treatments, medications, mental health and other patient needs by providing them with quick access to information or research that’s relevant to their patient.
Drug discovery is often one of the longest and most costly parts of drug development. AI could help reduce the costs of developing new medicines in primarily two ways: creating better drug designs and finding promising new drug combinations. With AI, many of the big data challenges facing the life sciences industry could be overcome.
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Global Artificial Intelligence in Drug Discovery market is projected to reach US$ 8908 million in 2029, increasing from US$ 1366 million in 2022, with the CAGR of 30.7% during the period of 2023 to 2029. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Artificial Intelligence in Drug Discovery market research.
The key manufacturers of Artificial Intelligence in Drug Discovery include IBM, Google (Alphabet), Atomwise, Schrodinger, Microsoft, etc. The top five players have a combined market share of about 19%.
North America is the world’s largest market, accounting for about 46%. It is followed by Europe and Asia, each with about 25%. The Asian market is slowly expanding.
The application of Artificial Intelligence in Drug Discovery mainly includes hardware, software and service. Hardware is by far the most widely used, with a market share of about 53%. The market share of software types is expected to increase further.
Early drug discovery, preclinical phase, clinical phase, and regulatory approval are the main application stages. The current preclinical market share is about 38%, and it is expected to be more widely used in the preclinical stage in the future.
Scope of Artificial Intelligence in Drug Discovery Market Report:
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Segment by Type:
- Hardware
- Software
- Service
Segment by Application:
- Early Drug Discovery
- Preclinical Phase
- Clinical Phase
- Regulatory Approval
By Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Russia, Nordic Countries, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea,Southeast Asia, India, Australia, Rest of Asia)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of MEA)
Leading Key Players of Artificial Intelligence in Drug Discovery Market:
- IBM
- Exscientia
- Google(Alphabet)
- Microsoft
- Atomwise
- Schrodinger
- Aitia
- Insilico Medicine
- NVIDIA
- XtalPi
- BPGbio
- Owkin
- CytoReason
- Deep Genomics
- Cloud Pharmaceuticals
- BenevolentAI
- Cyclica
- Verge Genomics
- Valo Health
- Envisagenics
- Euretos
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The Artificial Intelligence in Drug Discovery report covers below items:
Chapter 1: Product Basic Information (Definition, Type and Application)
Chapter 2: Global market size, regional market size. Market Opportunities and Challenges
Chapter 3: Companies’ Competition Patterns
Chapter 4: Product Type Analysis
Chapter 5: Product Application Analysis
Chapter 6 to 10: Country Level Value Analysis
Chapter 11: Companies’ Outline
Chapter 12: Market Conclusions
Chapter 13: Research Methodology and Data Source
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