Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Expected to Grow Globally at a CAGR of 23.6% in 2021-2026

Dublin, Oct 11, 2021 (GLOBE NEWSWIRE) – The report “Global Artificial Intelligence (AI) Enabled Drug Discovery and Clinical Trials Market Research Report: Forecast (2021-2026)” has been added to ResearchAndMarkets.com offer.

The “Global Artificial Intelligence (AI) Enabled Drug Discovery and Clinical Trial Market” is expected to grow at a CAGR of approximately 23.6% during the forecast period, that is, 2021-2026, according to the author. The growth of the market is mainly driven by the increasing demand to reduce the cost of new drug discovery and production. Additionally, the adoption of artificial intelligence is increasing dramatically as faster, more efficient and cost-effective drug discovery gains traction among stakeholders in the pharmaceutical industry.

The research report indicates that the increasing volume of data generated by the molecule screening processes and preclinical studies is another crucial factor fueling the adoption of artificial intelligence, thus propelling the market growth.

Global Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Has Positive Impact on COVID-19 Pandemic

With the global Covid-19 epidemic in early 2020, pharmaceutical and biotech companies have increasingly turned to artificial intelligence to improve the accuracy and speed of drug development. The pandemic has paved the way for massive investments for rapid development and drug trials.

In addition, the adoption of artificial intelligence enables a high level of precision to be offered at the complicated and time-consuming discovery phase of the drug development process, thus leading to faster drug development and risk of drug development. reduced failure.

Companies mentioned

  • Biotechnology Accutar

  • Ardigene

  • Atomwise Inc.

  • AiCure LLC

  • Berg LLc

  • Pharmaceutical Cloud

  • Biovista

  • Cyclica Inc.

  • Symphonic innovations

  • GNS Health

Market segmentation

Oncology dominated the global drug discovery and clinical trials market using artificial intelligence (AI) with the largest share

On the basis of therapeutic application, the market is divided into Oncology, Cardiovascular Diseases, Nervous System Diseases, Respiratory Disorders, Metabolic Disorders, Immunological Diseases, and Infectious Diseases. Among these segments, oncology has gained the largest share of the global drug discovery and clinical trials market through artificial intelligence (AI) in recent years.

AI helps in the early detection of cancer. Personalized medicine is needed for cancer treatment because cancer treatments can vary for each patient. Thus, AI identifies genetic mutations, which further help oncologists design effective personalized medicine for cancer patients. Therefore, these aspects contribute to the overall growth of the market, cites the authors in their research report “Global Artificial Intelligence (AI) Enabled Drug Discovery and Clinical Trials Market Analysis, 2021”.

Contract Research Organization (CRO) to dominate the global drug discovery and clinical trials market through artificial intelligence (AI) during the forecast period.

On the basis of end user, the market is segmented into biopharmaceutical industry, contract research organization (CRO), and academic institutes and research centers. To improve drug discovery and clinical trials, end users such as biopharmaceutical companies, contract research organizations, and academic institutions are assimilating AI-powered solutions. However, Contract Research Organization (CRO) is expected to capture a significant share of the global drug discovery and clinical trials market through artificial intelligence (AI) during the forecast period.

The growth of the segment is due to the increasing demand to maintain the workflow of the facility and to reorganize the work to improve the quality of the work. AI-based solutions in CROs are growing in popularity, catalyzing the global demand for drug discovery and clinical trials.

Regional landscape

North America has achieved the largest market share

The region’s growth is driven by strong patient acceptance of advanced technologies and a growing positive perception of AI among businesses. It further propels by the presence of the substantially large and well established healthcare industry. Additionally, the growing awareness of the benefits of integrating AI into the drug discovery process is contributing to the growth of the Artificial Intelligence (AI) Enabled Drug Discovery and Clinical Trials Market in the region.

Market factors

Riding technological advancements to propel market growth

Booming technological advancements such as AI, 4K imaging, and the Internet of Things (IoT) have increased demand for integrating these high-end technologies into the healthcare industry. AI helps provide patient-centered treatment, better diagnostic services, and accurate decision-making, thereby recognizing errors in current situations and providing better alternatives in complex scenarios. Hence, AI technology is likely to encourage the growth of the drug discovery and clinical trials market.

Market challenges

Lack of qualified personnel to hamper the growth of the market

One of the biggest challenges in the drug discovery phase is patient health. Dynamic activities interpret information on the documented effects of drugs and anticipate their side effects, which could be a major constraint in the market. In addition, the lack of trained personnel and inadequate data sets for drug discovery and development are other crucial factors that are likely to impact the growth of the market.

Main topics covered:

1. Start-up ecosystem

2. Impact of COVID-19 on the Global Drug Discovery and Clinical Trials Market Using Artificial Intelligence (AI)

3. Expert Verbatim – Interview Excerpts from 10 industry experts

4. Global Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F

5. North America Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F
5.1. Market size and analysis
5.2. Market share and analysis
5.3. U.S. Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F
5.4. Canadian Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026E
5.5. Mexico Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F

6. South America Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F
6.1. Market size and analysis
6.2. Market share and analysis
6.3. Brazil Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F
6.4. Argentina Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F

7. Europe Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F
7.1. Market size and analysis
7.2. Market share and analysis
7.3. UK Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F
7.4. Germany Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F
7.5. France Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F
7.6. Italy Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F
7.5. Spain Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F

8. Asia-Pacific Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F

9. China Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F

10. India Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F

11. Japan Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F

12. Australia Artificial Intelligence (AI) Enabled Drug Discovery and Clinical Trial Market Outlook, 2016-2026E

13. South Korea Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F

14. Middle East and Africa Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F

15. United Arab Emirates Artificial Intelligence (AI) Drug Discovery and Clinical Trials Market Outlook, 2016-2026F

16. Saudi Arabia Artificial Intelligence (AI) Drug Discovery and Clinical Trial Market Outlook, 2016-2026F

17. Global Dynamics of Drug Discovery and Clinical Trials Using Artificial Intelligence (AI)

18. Global Artificial Intelligence (AI) Enabled Drug Discovery and Clinical Trials Regulations, Product Standards

19. Global Artificial Intelligence (AI) Drug Discovery and Clinical Trials Value Chain Analysis

20. Analysis of Intellectual Property Rights Using Global Artificial Intelligence (AI) and Drug Discovery Clinical Trials

21. Hotspots and Opportunities for Drug Discovery and Clinical Trials Using Global Artificial Intelligence (AI)

22. Competition outlook

For more information on this report, visit https://www.researchandmarkets.com/r/wt0lv9

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