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Artificial Intelligence in Drug Discovery Market is expected to Grow Owing to the Increasing Concerns Towards Healthcare Development

As stated in our extensive report, providing insights on the Global Artificial Intelligence in Drug Discovery Market accounted for USD USD 627.1 Million billion in 2021.

The use of artificial intelligence (AI) has been increasing in various sectors of society, particularly the pharmaceutical industry. In recent years, there has been a tremendous increase in data digitalization in pharmaceutical companies. However, this digitalization comes with the challenge of acquiring, scrutinizing, and applying that knowledge to solve complex clinical problems. This enhances using AI because it can handle large volumes of data with enhanced automation. AI is a technology-based system involving various advanced tools and networks that can mimic human intelligence. AI functions with the use of systems and software that can interpret and learn from the input data to make independent decisions for accomplishing specific objectives.

Involvement of AI in the development of a pharmaceutical product from the bench to the bedside can be imagined given that it can aid rational drug design; assist in decision making; determine the right therapy for a patient, including personalized medicines; and manage the clinical data generated and use it for future drug development.

AI in drug delivery has been applied to many subfields of drug discovery and vaccine development. This improvement is crucial for the current situation and immediate COVID-19 therapy discovery for several key reasons. Firstly, the automatic feature extraction ability of deep learning can support models with better accuracy and deliver more reliable results. Secondly, the generative ability demonstrated by deep learning models can be utilized to create more druggable molecules and better epitope prediction, lowering the chance of failure in the trial pipeline. Lastly, the novelty of the virus causes the data around its possible therapies to be scarce, which is a suitable scenario for transfer learning and leveraging the learned knowledge from previous tasks. Therefore, the use of deep learning in therapy discovery for COVID-19 is essential in order to make a timely and accurate response to the virus.

Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) in the coming years due to the high demand for AI in drug discovery in the pharmaceutical industry. Additionally, the region contains the world’s best Research and Development (R&D) facilities and hospitals for treating patients. These are a few of the reasons North America is expected to grow in the coming years. AI in drug delivery is currently undergoing a transition from the initial development phase to the commercialization phase in this region. Major players in countries such as U.S and Canada are investing huge funds for the Research and Development (R&D) of AI in drug discovery which will be benefited to serve a better purpose in coming years.

Major players of the Global Artificial Intelligence in Drug Discovery Market such as IBM Corporation (US), Microsoft (US), and Google (US), NVIDIA Corporation (US), Atomwise, Inc. (US), Deep Genomics (Canada), Cloud Pharmaceuticals (US), Insilico Medicine (US), BenevolentAI (UK), Exscientia (UK), Cyclica (Canada), BIOAGE (US), Numerate (US), NuMedii (US), Envisagenics (US), twoXAR (US), OWKIN, Inc. (US), XtalPi (US), Verge Genomics (US), and BERG LLC (US).