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AI in Drug Discovery Market Value Expected to Grow at CAGR of 42.2% from 2021-2027

04-30-2021 02:06 PM CET | Health & Medicine

Press release from: Whipsmart Market Intelligence

Whipsmartmi.com offers "Global Artificial Intelligence in Drug Discovery Market" from its research database.

The AI in drug discovery industry is expected to grow USD 342.16 million at CAGR of 42.2% from 2021 to 2027.

Browse complete report @ https://whipsmartmi.com/Report/AI-in-Drug-Discovery-Market

Artificial intelligence is the replica of human intelligence in machines which are designed to think like humans and mimic their activity. This provides prospective to change the pharmaceutical industry as well various pharma competitors are now investing in this technology to some extent. There is a crucial growth in the number of applications which focuses on the objective and drug discovery, preclinical and clinical development, and post approval activities. Artificial intelligence will aid in improving the drug approval rates, reducing the designing and development costs, quick availability of medications and assist patients follow with their treatments. Apart from that, the inadequate skilled labour and dearth of data sets are acting as market challenges for the growth of artificial intelligence in drug discovery in the above mentioned forecast period.

The most prominent factor which is projected to enhance the AI for the drug discovery market is the increased burden on the drug maker to minimize the drug price. This is because the emergence of artificial intelligence has lowered the failure rate of clinical trials as well as eliminated the expense of long-term drug discovery research and development. Helix, an artificial intelligence start-up, utilizes machine learning to answer to verbal questions and respond to requests, enabling researchers to increase productivity, intensify laboratory safety, stay up to date on prominent research topics, and manage inventory. Market growth is projected to boost by a growth in the value of drug discovery and an increase in the funding of research and development activities for the use of AI technology in the domain of drug discovery. One of the key fields which considered for high loss of sales and low returns is preclinical research. Preclinical research optimization can help minimize the cost.

Request for a free sample report @ https://whipsmartmi.com/sample/he0581/AI-in-Drug-Discovery-Market

The enormously expanding biotechnology industry is providing wide opportunities for the drug discovery industry with the integration of artificial intelligence. The increasing number of chronic ailments such as diabetes and cancer across the world is the key factor likely to foster the demand for the biopharmaceuticals thus, driving the demand for the effective drugs and vaccines. Therefore, eventually generate potential opportunities for the artificial intelligence in drug discovery market growth.

On the basis of End Users:

Based on end users of the artificial intelligence in drug discovery market, the market includes pharmaceutical & biotechnology companies, contract research organizations, research centers and academic & government institutes. Over the forecasted period, the pharmaceutical & biotechnology companies segment is projected to be the most significant end-use category in the market. The pharmaceutical and biotechnology companies are the key end users of the artificial intelligence in drug discovery as to enhance the drug discovery and drug development with the help of artificial intelligence.

By Component
Software
Services

By Technology
Machine Learning
Deep Learning
Supervised Learning
Reinforcement Learning
Unsupervised Learning
Other Machine Learning
Other Technologies

By Application
Immuno-oncology
Neurodegenerative Diseases
Cardiovascular Diseases
Metabolic Diseases
Other Applications

Request for a free sample report @ https://whipsmartmi.com/sample/he0581/AI-in-Drug-Discovery-Market

Contact Info:
Name: Neeraj
Email: sales@whipsmartmi.com
Company Name: Whipsmartmi
Website: https://whipsmartmi.com/
Phone: +1 5102005090
Address: 7264 Magistrate Terrace, Mississauga, Ontario L5W 1H8, Canada

About Us:
Whipsmart MI provides fact-based consulting services to B2B and B2C market to help our clients to achieve incremental and transformational growth competing in their niche market. We facilitate their growth journey through an environment that is dominated by accelerating change, constant evolution of new business models, disruptive trends and technologies in their respective industry.

The Whipsmart Market bytes platform is created specifically for B2B and B2C players with consideration of the market knowledge and interest. With over 4,000 titles to choose from diverse industries, the coverage is comprehensive and the data is updated every quarter. Whipsmart uses comples AI based algorithms to gather economic intelligence from different agencies across the globe, combines them with primary information sources and builds projections that are accurate and dependable. With multiple download options and the flexibility to source almost any kind of intelligence on demand as per market interest.

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