Report Ocean presents a comprehensive research report on Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical, analyzing 150+ country markets with insights from 1,00000+ published and forthcoming reports annually. The report is curated by subject matter experts, researchers, and market research professionals, ensuring authentic information and highly accurate forecasts. Methodologies like S.W.O.T. analysis, P.E.S.T.E.L. analysis, and regression analysis are employed for market growth projections. The study also covers industry regulations, research technology, and future advancements in Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical.
The global market for artificial intelligence (AI)-enabled drug discovery & clinical trials was valued USD 380 million in 2019 and is projected to reach USD 1,599 million by 2026 with an approximate CAGR of 23%.
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AI-enabled drug discovery and clinical trials is reported to be a sub-group of the total drug discovery and development processes. It involves collecting information for various potential drug entities, devising their design followed by successful planning and execution of their pre-clinical trials and copulating real-world evidence for the such molecules, that too, in an automated setting. This reduces human efforts, time and costing for the entire developmental process. Various platforms/software are deployed to carry such automated tasks.
From the past few years, the global market for AI-enabled drug discovery & clinical trials has witnessed a significant boost. Increasing number of agreements between pharmaceutical & IT companies, requirement to decrease the drug development cost, ease in designing & predicting the chemical nature of entities with AI, growing clinical R&D expenditures, and rising need for planned & fast screening of candidate molecules are some of the major factors that are laying the developmental & growth parameters for the global market.
Requirement to decrease drug development costs is estimated to have a significant impact on the market growth during the forecast period. The developmental cost for a drug to bring into the market is estimated to increase from USD 1,188 million in 2010 to USD 2,168 million in 2018, owing to stringent government regulations. Moreover, it is estimated that due to increasing competition the achievable peak sales of drugs have decreased from USD 816 million (2010) to USD 407 million (2018). Thus, the trend suggests that the developmental cost is increasing w.r.t. to decreasing average-achievable-peak drug sales. Hence, AI can be a solution to decrease the drug-developmental cost.
However, factors such as inconsistency in regulatory framework and ethical issues related to the use of AI puts a barrier in the path of market growth.
There are no clear guidelines for AI usage in the drug development process. This indicates that the potential future of the AI-enabled drug discovery and clinical trials is skeptical. Moreover, privacy concerns post a lag for the market growth.
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Segmentation
The AI-enabled drug discovery and clinical trials market insights have been copulated on the basis of various segments in the market. Component, application, diseases indication, industry, and region are the major segments analyzed in the market.
On the basis of component, the global market is divided into solutions and services. The solutions segment is sub-segmented into aggregation & synthesis of information, drug designing, identifying the candidates, besides others. In 2019, the solutions segment holds ~80% of the market share in the global market.
By application, the market is segmented into data integration & analysis, clinical trials, clinical trials, drug design & characterization, biomarker research, and others. The data integration & analysis sub-segment led the market in 2019.
On the basis of disease indication, the market has been segmented into oncology, central nervous system, cardiovascular, respiratory, metabolic, immunology, infectious diseases, and others. Approximately 20% of the market share holds by the oncology segment in 2019. It was reported that there were approximately 1,735,350 new cases of cancer within the U.S. in 2018.
On the basis of industry vertical, the market is sub-segmented into pharmaceutical industry, clinical research organizations (CROs), and academic research & organizations. The pharmaceutical industry is estimated to provide substantial support for the market growth. The market witness strategic collaborations between pharmaceutical & IT companies. For instance, in 2016, Pfizer, Inc. collaborated with IBM to facilitate immuno-oncology research; and IBM is facilitating the company to identify new cancer drug targets and therapies.
Regional Analysis
By region, the global AI-enabled drug discovery and clinical trials market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
On regional basis, the Americas has been sub-segmented into North America & South America. The North American region is further segmented into the US and Canada. This can be agglomerated due to majority of the developed economies, and presence of market leaders followed by developed healthcare infrastructure within the region. As per the regional studies, the North America market recorded ~USD 235 million revenue in 2019.
Following a similar course, Europe stood second in the global market. On regional basis, Europe is segmented into Western Europe & Eastern Europe. Western Europe encompasses the EU5 countries, namely UK, Germany, France, Italy, and Spain. Due to developed economies in the region and the government support for healthcare IT, Western Europe led the market in 2019. The region shows huge investments in pharmaceutical R&D and is estimated to hold approximately 28% of the global market share.
The fastest growing region for the global AI-enabled drug discovery and clinical trials market is Asia-Pacific. The region has immense opportunity for growth owing to increasing penetration of major players, developing healthcare infrastructure and booming CRO industry within the region. The clinical trials market in India was around USD 20 billion in 2015.
The Middle East & Africa was estimated to hold the least market share in 2019. The region is estimated to lag due to the presence of poor economies, within the African region. The Middle Eastern region is estimated to lead the regional market.
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Competitive Landscape:
A large number of players are present in the global AI-enabled drug discovery and clinical trials market. They compete on product price and efficiency. Moreover, strategic collaboration is observed for expanding geographical reach. Some of the players analyzed in the report includes Accutar Biotechnology Inc., AiCure, Ardigen, Atomwise, Inc., Benevolent AI, Berg LLC, Berkeley Lights, Inc., BioAge Labs, Inc., Biovista Inc., C4DX Discovery Holdings Plc, Clinithink Ltd, Cloud Pharmaceuticals, Inc., Cyclica Inc., CytoReason, Symphony Innovation, LLC, Deep Genomics, DeepThink Health Inc., Envisagenics, Inc., Exscientia Ltd, e-therapeutics plc, GNS healthcare, Insilico Medicine, Lantern Pharma Inc., Medable Inc., Mind the Byte, NuMedii, Inc., TARA Biosystems, Inc., twoXAR, incorporated, IBM Watson, Exscientia, GNS healthcare, and others.
Key Pointers:
The global AI-enabled drug discovery and clinical trials market size is estimated to reach USD 1,599 by 2030 from 2019 with a CAGR of 24%.
The clinical guidelines are not uniform across the studied regions.
In 2019, the Americas is estimated to lead the market with a share of ~62%.
Increasing collaborations between pharmaceutical companies and IT companies boosts the market growth.
By disease indication oncology is estimated to lead the market during the forecast period.
USP of the Report:
Regulatory Guidelines & Government Initiatives
Pipeline Analysis
Competitive Landscape/Competition Concentration
Competitive Benchmarking
Technology Analysis
Business Model Analysis
Table of Content
Chapter 1: Global Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Artificial Intelligence (AI) – Enabled Drug Discovery and Clinical business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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