Artificial intelligence (AI) in the drug discovery market
The global size of the artificial intelligence (AI) drug discovery market was estimated to reach $3.00 billion by 2022. The market is expected to grow from $3.54 billion in 2023 to $7.94 billion in 2030, at a CAGR of 12.2% during the forecast period. (2023-2030).
The artificial intelligence (AI) in the drug discovery market is experiencing a massive wave of innovation and holds enormous potential for accelerating the development of life-saving medicines. This press release explores a recent major development in the industry, a leading segment, and the future prospects for this transformative field.
❤️ 𝗙𝗿𝗲𝗲 𝗥𝗲𝗽𝗼𝗿𝘁 (𝗣𝗗𝗙) 𝗦𝗮𝗺𝗽𝗹𝗲: https://www.fortunebusinessinsights.com/enquiry/sample/artificial-intelligence-in-drug-discovery-market-105354
𝗖𝘆𝗰𝗹𝗶𝗰𝗮 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝘁𝗼 𝗗𝗿𝗶𝘃𝗲 𝗔𝗜 𝗔𝗜 𝗽𝗼𝘄𝗲𝗿𝗲𝗱 𝗗𝗿𝘂𝗴 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝘆 𝗳𝗼𝗿 𝗡𝗲𝗴𝗹𝗲𝗰𝘁𝗲𝗱 𝗡𝗲𝗴𝗹𝗲𝗰𝘁𝗲𝗱 𝗡𝗲𝗴𝗹𝗲𝗰𝘁𝗲𝗱 𝗗𝗶𝘀𝗲𝗮𝘀𝗲𝘀 𝗗𝗶𝘀𝗲𝗮𝘀𝗲𝘀:
To highlight the promise of AI for global healthcare, Cyclica, a leader in AI-powered drug research, received a $1.8 million grant from the Bill & Melinda Gates Foundation in November 2022. This grant will enable Cyclica’s breakthrough platform to identify novel non-hormonal contraceptives that target biological targets with little data. This development underlines the potential of AI to accelerate drug discovery for neglected diseases and improve health outcomes worldwide.
❤️ Read more:
• Microsoft (US)
• Schrodinger, Inc. (USA)
• Cresset (UK)
• IBM (US)
• Atomwise Inc. (USA)
• Insilico Medicine (USA)
• Exscientia (UK)
• BenevolentAI (UK)
• Aria Pharmaceuticals, Inc. (USA)
• Integrated Biosciences (US)
• Alphabet Inc. (US) (parent company of Google)
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Several factors are driving the AI drug development market:
• 𝗛𝗶𝗴𝗵 𝗖𝗼𝘀𝘁 𝗮𝗻𝗱 𝗧𝗶𝗺𝗲-𝗖𝗼𝗻𝘀𝘂𝗺𝗶𝗻𝗴 𝗧𝗿𝗮𝗱𝗶 𝘁𝗶𝗼𝗻𝗮𝗹 𝗠𝗲𝘁𝗵𝗼𝗱𝘀: Traditional drug discovery processes are expensive and time-consuming, creating a need for faster and more efficient methods.
• 𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝗱 𝗗𝗮𝘁𝗮 𝗔𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝘀 𝗖𝗮𝗽𝗮𝗯𝗶𝗹𝗶 𝘁𝗶𝗲𝘀: Advances in data science and machine learning are allowing researchers to analyze massive data sets and identify potential drug candidates more effectively.
• AI: AI facilitates the development of personalized medicine approaches and by analyzing individual patient data to design targeted therapies.
However, certain challenges remain:
• 𝗕𝗹𝗮𝗰𝗸 𝗕𝗼𝘅 𝗣𝗿𝗼𝗯𝗹𝗲𝗺: The complex nature of AI algorithms can make it difficult to understand how they arrive at specific results, raising concerns about transparency and interpretability.
• 𝗗𝗮𝘁𝗮 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗮𝗻𝗱 𝗣𝗿𝗶𝘃𝗮𝗰𝘆: Using large patient datasets in AI-powered drug discovery requires robust data security measures to protect sensitive information.
• 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝘀: Regular frameworks must be adjusted to make the integration of AI into drug discharge processes possible.
: https://www.fortunebusinessinsights.com/artificial-intelligence-in-drug-discovery-market-105354
𝗠𝗮𝗿𝗸𝗲𝘁𝗥𝗲𝗽𝗼𝗿𝘁 2:
For a comprehensive insight into the AI in drug discovery market, Fortune Business Insights report provides an in-depth analysis of:
The report provides detailed market size and growth forecasts for the AI in drug discovery market over the forecast period.
• The report segments the market based on technology type (machine learning, deep learning, natural language processing), application (oncology, neurology, infectious diseases) and molecule type (small molecules, large molecules).
• The report identifies the key players in the market and analyzes their competitive strategies.
• 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: The report provides insights into the growth potential of AI in drug discovery across different geographic regions.
𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 :
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The small molecule segment is expected to dominate the AI drug development market during the forecast period. Small molecules are typically easier to synthesize and deliver compared to large molecules, making them a popular choice for drug development.
𝗔 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽:
The AI drug discovery market is a dynamic and competitive space. Established technology companies such as Microsoft and Alphabet (Google) are playing an increasingly important role, alongside specialist AI-powered drug discovery startups. This competition drives continued advances in AI algorithms, data analytics methods, and drug discovery pipelines.
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The AI drug discovery market is poised for significant growth as technological advancements and increasing awareness of its potential transform the pharmaceutical industry. With continued research to address challenges such as interpretability and regulatory considerations, AI holds tremendous promise for accelerating drug discovery timelines, reducing costs, and ultimately delivering life-changing treatments to patients around the world.
❤️ Read more: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/artificial-intelligence-in-drug-discovery-market-105354
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This release was published on openPR.
