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Artificial Intelligence for Drug Discovery and Development Market by Drug Type (Small Molecules and Large Molecules), Technology (Deep Learning and Machine Learning), Application (Oncology, Metabolic Disease, Cardiovascular Disease, Neurodegenerative Disease, and Others), and End User (Research Institutes and Pharmaceutical & Biopharmaceutical Companies): Opportunity Analysis and Industry Forecast, 2018 - 2025

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Jul 2019 | 143 Views
 
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artificial intelligence in drug development and discovery market outlook - 2025

Artificial intelligence is the branch of computer science that deals with the simulation of intelligent behavior in computer. It offers computer an ability to think and perform various tasks like humans and animals, while learning through its mistakes during the task. Artificial Intelligence is usually an algorithm built in such a way that allows the computer to perform tasks efficiently while making nominal errors. It uses personified knowledge by applying deep learning and machine learning algorithms while performing several chores.

In the field of medicine, pharmacology, and biotechnology, drug discovery and development are the processes of discovering, designing, and procuring a drug by finding a biological target such as enzyme protein, gene, or a receptor. Previously, the drugs were discovered by identifying the active ingredient traditional remedies or serendipitously. Drug discovery altogether is the first step in the process of potential novel drug identification and its medicinal purpose. New drug targets are evaluated based on their bioavailability, efficacy, potency, and toxicity.

Artificial intelligence has been extensively used in the healthcare industry, specifically utilized in finding novel drugs. It has the capability to distinguish drug targets and plays an important role in discovery, design, recognition, and screening of small molecules effectively in less time. Furthermore, presence of a smaller number of competitors, higher adoption rate, and effectiveness in finding a novel drug are anticipated to provide lucrative opportunities for the growth of the global intelligence in drug discovery and development market.

Increase in adoption of artificial intelligence for diagnostic purposes is expected to boost the growth of the artificial intelligence in drug discovery and development market. For example, IBM Watson, an artificial intelligence which specializes in oncology diagnostic tests. It works by predicting the outcome of the changes based on genomic profile of the patient and the normal cellular signaling pathways. Increase in drug discovery and life science research and rise in need for high-speed diagnostics are the factors that drive the growth of artificial intelligence in drug discovery and development market. However, limited technical knowledge and availability of alternative technologies are anticipated to restrict the market growth. Moreover, increase in R&D investments in developing economies is expected to provide rewarding opportunities for the key market players throughout the forecast period.

The global artificial intelligence in drug development and discovery market is segmented on the basis of drug type, technology, application, end user, and region. Based on drug type, the market is divided into small molecules and large molecules. Based on technology the market is classified into deep learning and machine learning. Based on application, the market is segmented into oncology, cardiovascular disease, neurodegenerative disease, metabolic disease, and others. On the basis of region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Some of the major key players operating in this market include NuMEdii, Inc., Atomwise, Inc., Insilco Medicine, Inc., Envisagenics, BIOAGE, Globavir, Inc., and Cloud Pharmaceuticals, Inc. These key players are aiming at players focusing on the adoption of AI to speed up the drug discovery and development process, reduce R&D costs, diminish failure rates in drug trials, reduce the chances of drug recalls, and ultimately create better medicines.

Key Benefits for artificial intelligence in drug development and discovery market:

  • The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
  • It offers a quantitative analysis from 2017 to 2025, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities.
  • The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the market.
  • A comprehensive analysis of all the geographical regions is provided to determine the existing opportunities.

artificial intelligence in drug development and discovery Key Market Segments:

By Drug Type

  • Small Molecules
  • Large Molecules

By Technology

  • Deep Learning
  • Machine Learning

By Application

  • Oncology
  • Cardiovascular Disease
  • Metabolic Disease
  • Neurodegenerative Disease
  • Others

By End User

  • Research Institutes
  • Pharmaceutical & Biopharmaceutical Companies
  • Key market Players
  • IBM
  • Atomwise, Inc.
  • BIOAGE
  • NuMedii, Inc.
  • Globavir, Inc.
  • Envisagenics
  • Cloud Pahrmaceuticals, Inc.

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 
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