Global AI-Enabled Drug Discovery and Clinical Trials market predicted to propel by the application of AI which improves the speed and precision of discovery and reduce timelines for drug discovery
AI-Enabled Drug Discovery and Clinical
Global AI-Enabled Drug Discovery and Clinical Trials market trend estimated to grow with a noteworthy rate during the forecast period, 2020-2027. It is due to AI helping companies in calculating vast patient datasets into digestible, tangible information, identifying personalized, precision medicine opportunities, or potential forecasting responses to new drugs. Additionally, the growing applications of AI to analyze the pool of potential subjects in drug discovery, analyzing the electronic medical reports of patients, and genomic data for improved clinical trial matching will contribute to the growth of AI-enabled drug discovery and clinical trials market. Moreover, the surge in the application of AI in drug discovery benefits from the open-source implementation will augment the global AI-enabled drug discovery and clinical trial market in the future time.
AI help in accelerating the treatments of rare diseases, identify potential rare diseases indications and predicts new indications for existing medicines. Further, growing adoption of Ai in the pharmacy industry for target discovery, compound synthesis, compound screening, crystal form prediction, patient recruitment, optimization of clinical trial design, and drug redirection will boom the AI-enabled drug discovery and clinical trials in the near future.
Components Overview in the Global AI-Enabled Drug Discovery and Clinical Trials Market
Based on components, the global AI-enabled drug discovery and clinical Trials market bifurcated into Solutions and Services. The Solutions segment likely to lead the market by 2027, attributable to AI, help in substantial implications in the development of biomarkers and detect the differences between healthy and cancerous tissues.
Solution Overview in the Global AI-Enabled Drug Discovery and Clinical Trials market
Based on the Solution, the global AI-Enabled drug discovery and clinical trials market classified into Data Aggregation and Analysis, Clinical Trials, Drug Design, Drug Characterization, Biomarker Research, and Others. The Drug Design segment estimated to gain a higher market share by 2017. It is due to AI, and Machine learning helps to discover and develop new drugs for chronic kidney disease and idiopathic pulmonary fibrosis.
Application Overview in the Global AI-Enabled Drug Discovery and Clinical Trials Market
Based on application, the global AI-Enabled Drug Discovery and Clinical Trials market classified into Oncology, Cardiovascular Diseases, Nervous System Diseases, Respiratory Disorder, Metabolic Diseases Immunologic Diseases, Infectious Diseases, and Others. The Oncology segment projected to register a higher CAGR by 2027, on account of the surge in demand for AI for improving the quality of care and patient outcomes and improve the accuracy of cancer diseases while minimizing damage to healthy organs at risk.
End-User Overview in the Global AI-Enabled Drug Discovery and Clinical Trials Market
Based on end-user, the global AI-enabled drug discovery and clinical trials market categorized into Biopharmaceutical Industry, Contract Research Organizations (CROs), and Academic Institutes and Research Centers. Biopharmaceutical Industry projected to lead the market by 2027, as a result of AI and machine learning help in manufacturing process improvement, identifying novel biological target, processing biomedical and clinical data, and detect diseases such as cancer.
Regional Overview in the Global AI-Enabled Drug Discovery and Clinical Trials Market
By geography, the Global AI-Enabled Drug Discovery and Clinical Trials Market segmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America. North America accounted for a major share in 2019 and expected to dominate the market by 2027 the market as a result of the high focus on R&D & substantial investment in the healthcare sector by USA governments and the presence of globally leading pharmaceutical companies.
Global AI-Enabled Drug Discovery and Clinical Trials Market: Competitive Landscape
Companies such as Accutar Biotechnology Inc., AiCure, LLC, Ardigen, Atomwise, Inc, BenevolentAI, Berg LLC, Berkeley Lights, Inc., Biovista Inc, BioAge Labs, Inc., C4X Discovery Holdings Plc, Clinithink Ltd, Cloud Pharmaceuticals, Inc., Cyclica, Inc., CytoReason, and Symphony Innovation, LLC are the key players in the Global AI-Enabled Drug Discovery and Clinical Trials Market.
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