Global Market for AI-Enabled Drug discovery and Clinical Trials is Anticipated to grow at a Significant Pace i.e., USD 4165.1 Million during the Forecast Period 2021-2027

Published Date: Oct, 2021

The global AI-enabled drug discovery and clinical trials market is expected to witness a CAGR of 24.65% during the forecast period. The advancement of AI which includes technologies such as machine learning (ML), deep learning, supervised learning, and recursive learning in medical research has been specifically used for drug discovery and clinical trials, which can improve various processes like data collection and analysis, generation of virtual 3D models, optimization of clinical trials, real-world evidence analysis. Moreover, the increasing volume of data generated due to the molecule screening process, delay in patent expiry, expansion of biotechnology industries, and preclinical studies will propel the growth of AI in the market. Nevertheless, the market is witnessing expansion opportunities in emerging economies like Latin America, Japan, China, etc. Thus, the use of AI will increase the precision of the complex and time-consuming discovery phase during the drug development process which will lead to faster advancement of drugs and less risk of failure.

The COVID-19 outbreak has led pharmaceutical and biotech companies to adopt artificial intelligence (AI) to improve precision and speed in the process of drug development. This pandemic has led to the huge investment in the fast development and trial of drugs.  

Browse 64 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on " Global AI-Enabled Drug Discovery and Clinical Trials Market by Component (Solutions and Services), by Application (Data Integration & Analysis, Clinical Trials, Drug Design, Drug Characterization, Biomarker Research, and Others), by Therapeutic Application (Oncology, Nervous System Diseases, Cardiovascular Diseases, Respiratory Disorders, Metabolic Diseases, Immunologic Diseases, Infectious Diseases, and Others), by End User (Biopharmaceutical Industry, Contract Research Organizations (CROs), and Academic Institutes & Research Centers), and Region - Global Forecast to 2027"

By therapeutic applications, the oncology segment will hold the highest share during the forecast period.

Based on the therapeutic applications, the global AI-enabled drug discovery and clinical trials market is divided into oncology, nervous system diseases, cardiovascular diseases, respiratory disorders, metabolic diseases, immunologic diseases, infectious diseases, and others. The oncology segment holds the highest share in the AI-enabled drug discovery and clinical trials market as it plays a crucial role in the early detection of cancer. Moreover, the cancer treatment differs for each patient, personalized medicine has proved to be an effective alternative for the treatment of cancer. For instance, Sophia Genetics, a Swiss company has developed an AI platform that helps in the detection of tumors by identifying gene variations and helps in designing personalized medicine for cancer treatment.

Global AI-Enabled Drug Discovery and Clinical Trials Market Segmentation Analysis

Segment

Categorization

Leading Category

Component

Solutions and Services

Solutions (Largest)

Application

Data Integration & Analysis, Clinical Trials, Drug Design, Drug Characterization, Biomarker Research, and Others

Data Aggregation & Analysis

(Largest)

Biomarker

(Fastest)

Therapeutic Application

Oncology, Nervous System Diseases, Cardiovascular Diseases, Respiratory Disorders, Metabolic Diseases, Immunologic Diseases, Infectious Diseases, and Others

Oncology (Largest)

End-User

Biopharmaceutical Industry, Contract Research Organizations (CROs), and Academic Institutes & Research Centers

Biopharmaceutical Industry (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

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“Asia-Pacific to witness the fastest growth by 2027.”

Asia-Pacific is expected to witness the fastest-growing region in the AI-enabled drug discovery and clinical trials market due to the rising penetration of industry players, development of healthcare infrastructure, booming CRO industry in the region.

Some of the major players in the global Ai-enabled drug discovery and clinical trials market include Accutar Biotechnology Inc., AiCure, Ardigen, Atomwise inc., BERG LLC, Biovista, Cloud Pharmaceuticals, Inc., Cyclica Inc., Symphony Innovation, LLC, and Benevolent AI.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Component, Application, Therapeutic Application, End-User, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Accutar Biotechnology Inc., AiCure, Ardigen, Atomwise inc., BERG LLC, Biovista, Cloud Pharmaceuticals, Inc., Cyclica Inc., Symphony Innovation, LLC, and Benevolent AI.

Global AI-Enabled Drug Discovery and Clinical Trials Market Coverage

Component Insight and Forecast 2015-2027

  • Solutions
  • Services

Application Insight and Forecast 2015-2027

  • Data Integration & Analysis
  • Clinical Trials
  • Drug Design
  • Drug Characterization
  • Biomarker Research
  • Others

Therapeutic Application Insight and Forecast 2015-2027

  • Oncology
  • Nervous System Diseases
  • Cardiovascular Diseases
  • Respiratory Disorders
  • Metabolic Diseases
  • Immunologic Diseases
  • Infectious Diseases
  • Others

End-User Insight and Forecast 2015-2027

  • Biopharmaceutical Industry
  • Contract Research Organizations (CROs)
  • Academic Institutes & Research Centers

Geographical Segmentation

AI-Enabled Drug Discovery and Clinical Trials Market by Region

North America

  • By Component
  • By Application
  • By Therapeutic Application
  • By End-User
  • By Country – U.S., Canada, and Mexico

Europe

  • By Component
  • By Application
  • By Therapeutic Application
  • By End-User
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Component
  • By Application
  • By Therapeutic Application
  • By End-User
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Component
  • By Application
  • By Therapeutic Application
  • By End-User
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

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Global Market for AI-Enabled Drug discovery and Clinical Trials is Anticipated to grow at a Significant Pace i.e., USD 4165.1 Million during the Forecast Period 2021-2027