Global AI for Drug Discovery Market Analysis, Application, and Forecast to 2018-2030
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Bharat Book Bureau Provides the Trending Market Research Report on “AI for Drug Discovery Market By Offering (Software, Services);By Technology (Machine Learning and Other Technologies); By Drug Type (Small Molecule and Large Molecules); By Application (Immuno-Oncology, Neurodegenerative Diseases, Cardiovascular Disease, Metabolic Diseases and Other Applications); By End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Research Centers and Academic & Government Institutes)and Region – Analysis of Market Size, Share & Trends for 2018 – 2020 and Forecasts to 2030” under the Life Sciences Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The initial step in drug discovery is the process of a novel drug candidate’s identification and its therapeutic target base. Based on efficacy, potency, bioavailability, and toxicity the drug discovery or new drug target are being evaluated. Artificial intelligence is extensively used in the healthcare sector and especially used for drug discovery. AI technology has the potential to recognize drug targets, and play an essential role in drug design, discovery, identification, and screening of molecules promptly and efficiently.
The global Artificial Intelligence (AI) in Drug Discovery Market size was valued at USD 253.8 million in 2019 is anticipated to reach USD 3,932.87 million by 2030, demonstrating a CAGR of 40.8 % from 2020 to 2030. AI helps in perceiving the mechanism of disease, establishing biomarkers, and generating data or models for the drug discovery process and thereby expected to propel the market over the forecast period of 2020-2030. Furthermore, rising research and development activities and software launches by the key market players are estimated to spur the market. A wave of new research and development collaborations between key biopharma players and AI-driven companies, mostly startups.
AI for Drug Discovery Market Expected Market Growth
Recent Highlights in Global Digital Banking Platform Market
Lantheus Holdings Inc. a diagnostic imaging company and Progenics Pharmaceuticals Inc. an oncology products company, amended a prior merger in February 2020
Novartis went into a collaboration with Microsoft for the artificial intelligence innovation lab and Amazon Web Services to form an enterprise comprising a data and analytics platform that would yield advanced medicines in February 2020.
A merger with MAbSilico was announced by OSE Immunotherapeutics in February 2020. Innovative problem-solving solutions including artificial intelligence for the development of new monoclonal antibodies are established and incorporated in the merger plan.
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