According to a new report published by Allied Market Research, titled, “Artificial Intelligence for Drug Development and Discovery Market By Type, Indication, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,”the artificial intelligence for drug discovery and development market size was valued at $0.52 billion in 2019 and is projected to reach $4.81 billion by 2027, registering a CAGR of 31.6% from 2020 to 2027.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Prominent key players operating in the artificial intelligence for drug discovery and development market include Alphabet Inc., Atomwise, Inc., Benevolent AI, Cloud Pharmaceutical, Deep Genomics, Exscientia, IBM Corporation, Insilico Medicine Inc., Microsoft Corporation, and Nvidia Corporation.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/5239
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
- By type, the preclinical and clinical testing segment occupied 33.9% share of the artificial intelligence for drug discovery and development market in 2019.
- By indication, the oncology segment is anticipated to grow with the highest CAGR throughout the forecast period.
- By end user, the pharmaceutical and biotechnology companies segment occupied 86.1% share of the artificial intelligence for drug discovery and development market in 2019.
- By region, North America is anticipated to experience growth at 53.50% during the forecast period.
𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/5239
The oncology segment is projected to grow at the highest CAGR of 32.6% during the forecast period, owing to increase in adoption of AI to discover drug for treatment of different forms of cancer, large number of promising drugs in the oncology pipeline, higher adoption of AI to discover & develop oncology drugs and increase in number of collaborations between large pharma companies with AI providers are majorly driving the growth of this segment.
North America held the major share of the artificial intelligence for drug discovery and development market in 2019 and is expected to continue its dominance during the forecast period, owing to strong economies in the U.S. and Canada; high adoption rate of AI technologies due to large number of investments to boost the drug discovery industry; and large number of cross industry collaborations and partnerships majorly fuel the market growth. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to rise in adoption of advanced AI technologies, and growth in focus of major players on increasing their presence in emerging Asian countries.
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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