Artificial Intelligence in Drug Discovery Market Growth Accelerated by adoption of AI in Drug Discovery

 
Artificial Intelligence in Drug Discovery Market 

Artificial intelligence (AI) has been increasingly adopted in drug discovery efforts to identify and develop new drug candidates in a more efficient manner. AI tools such as machine learning and deep learning are being used to screen large chemical libraries, predict toxic side effects, design novel molecules with desirable properties, and facilitate clinical trial recruitment and monitoring. The global Artificial Intelligence in Drug Discovery Market is estimated to be valued at US$ 1266.7 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
The increasing adoption of AI in drug discovery is mainly attributed to its ability to analyze large and complex datasets and identify meaningful patterns at a faster pace compared to human researchers. AI algorithms can screen millions of potential drug compounds in silico and identify those with highest probability of success based on properties like binding affinity, ADMET profiles, and synthetic feasibility. This has significantly accelerated the early drug discovery process by reducing the candidate pool for further testing. AI is also being utilized for areas like predictive toxicology to enhance safety assessment of new molecules in development. The technology is therefore finding increasing investment and application in pharmaceutical R&D to optimize efficiency and compress development timelines.

Segment Analysis
The global artificial intelligence in drug discovery market is dominated by fragment-based drug discovery sub-segment. This sub-segment is leading as AI has the potential to screen millions of molecules much faster than traditional computer-aided drug design. AI algorithms can virtually screen compound libraries against biological targets, rank-order these compounds based on their structural and activity predictions, and select the most promising candidates for experimental validation.

Key Takeaways

Regional analysis: North America presently dominates the global market and is expected to maintain its dominance over the forecast period. This is attributed to the presence of major players and higher R&D expenditure on drug development in the region.

Key players operating in the artificial intelligence in drug discovery market are Lenzing A.G., Aditya Birla Group, AkzoNobel N.V., Smartfiber AG, Nien Foun Fiber Co., Ltd., Invista , Baoding Swan Fiber Co. Ltd., Qingdao Textiles Group Fiber Technology Co., Ltd., China Bambro Textile (Group) Co., Ltd., Acegreen Eco-Material Technology Co. Ltd., China Populus Textile Ltd., and Acelon Chemicals & Fiber Corp.

Explorer more information on this topic, Please visit @ https://www.insightprobing.com/artificial-intelligence-in-drug-discovery-market-growth-demand/

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