Artificial intelligence technology for the drug discovery consists of various algorithms providing the value addition in the overall decision-making processes for the right drug discovery. The Artificial Intelligence based techniques are designed to assist manufacturers by providing easy solution for the complex situations. Further, AI based solutions are able to provide to new analytical approach for the design and development of novel products. The rise in new cases of rare diseases & demand for personalized drug are some of the key factor fueling the growth Al for Drug Discovery market globally.
As per analysis, “Asia Pacific Artificial Intelligence (AI) in Drug Discovery Market 2020-2026 by Offering, Technology, Drug Type, Therapeutic Area, Application, End User, and Country: Trend Forecast and Growth Opportunity” the key companies operating in the Asia Pacific Artificial Intelligence (AI) in drug discovery market include Insilico Medicine, Cloud Pharmaceuticals, Inc., Atomwise, Inc., Google, Berg LLC, Exscientia, Berg LLC, Numedii, Inc., BIOAGE, Deep Genomics, IBM Corporation, Cyclica, Google, Microsoft Corporation, NVIDIA Corporation, Envisagenics, Numerate, Twoxar, Incorporated, Owkin, Inc., Xtalpi, Inc., Verge Genomics and among others.
On the basis of offering type, Asia Pacific Artificial Intelligence (AI) in drug discovery market is segregated into software and services. On the basis of technology, market is segregated as deep learning, supervised & unsupervised learning, reinforcement learning and others. On the basis of therapeutic area, market is segregated as neurodegenerative diseases, oncology, metabolic diseases, cardiovascular diseases and other therapeutic area. On the basis of drug type, market is segregated as large molecular drugs and small molecular drugs. Small molecular drugs segment is anticipated to exhibit higher CAGR due to high complicated process in drug discovery, coupled with artificial intelligence helps solving complex process with precise results in less time during the forecast period. On the basis of end-user, market is segregated as contract research organizations, academic & research institutes and pharmaceutical & biotechnology companies. In addition, on the basis of application, market is segregated as clinical trials, drug design, information & data analysis, drug evaluation and others.
Increase in pressure on the drug manufacturer to reduce drug price, flourishing healthcare sector and increase in number of patients suffering from chronic diseases are some major factors, which are responsible for growth of the Asia Pacific Artificial Intelligence (AI) in drug discovery market. Apart from this, high cost and technical limitation of AI decision-making is a major restraining factor for market. These restraining factors are likely to overcome with untapped market opportunities in the emerging economies of the region. Countries like China and India provides new avenues for the growth of the AI for drug discovery market. Moreover, rise in public & private partnerships for Research & Development (R&D) activities and investment by major players in bio-pharma companies are key opportunities for market.
It is predicted that future of the Asia Pacific Artificial Intelligence (AI) in drug discovery market will be bright because of growth in trade of ICT goods & services, increase in government spending on development of the present infrastructure to facilitate the advanced devices for R&D activities and rise in awareness amongst individuals for using the internet during the forecast period.
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Ankur Gupta, Head Marketing & Communications