AI-Enabled Drug Discovery and Clinical Trials Market is estimated to be 0.4 Billion by 2029 with a CAGR of 30.7% during the forecasted period.

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Published Date: March 2024

The AI-enabled drug discovery and clinical trials market accounted for US$ 0.4 billion in 2020 and is estimated to be 4.34 billion by 2029 and is anticipated to register a CAGR of 30.7%. The report.

"AI-Enabled Drug Discovery and Clinical Trials Market, By Components (Solutions and Services), By Solution (Aggregation & Analysis, Clinical Trials, Drug Design, Drug Characterization, Biomarker Research, and Others), By Application (Oncology, Cardiovascular Diseases, Nervous System Diseases, Respiratory Disorder, Metabolic Diseases Immunologic Diseases, Infectious Diseases, and Others), By End-user (Biopharmaceutical Industry, Contract Research Organizations (CROs), and Academic Institutes and Research Centers), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key highlights:

On March 2019, Ardigen signed an agreement with PORT and the Lower Silesian Oncology Center (DCO) on sample collection and biobanking of biological material. PORT will support Ardigen’s artificial intelligence technology in fight against cancer. The biobank operating within the framework of PORT is the leading center in the Polish part of the European BBMRI-ERIC biobanks network and will ensure the highest quality standards of sample collection and storing, which are necessary for Ardigen’s research in the field of immuno-oncology.

Analyst View:

AI is helping companies in manipulating huge patient datasets into digestible, identifying personalized, precision medicine opportunities, tangible information, or potential forecasting responses to new drugs. In addition, examining the electronic medical reports of patients, rising applications of AI to analyze the pool of potential subjects in drug discovery, and genomic data for improved clinical trial matching will support to the growth of AI-enabled drug discovery and clinical trials market. Furthermore, the growth in the application of AI in drug discovery aids from the open-source execution will drive the AI-enabled drug discovery and clinical trial market over the forecast period. AI provides accelerating the treatment options for rare diseases, detects potential rare diseases indications and forecasts new indications for existing medicines. Moreover, increasing adoption of Ai in the pharmacy industry for target discovery, compound screening, compound synthesis, patient recruitment, crystal form prediction, optimization of clinical trial design, and drug redirection will boost the AI-enabled drug discovery and clinical trials in the coming years.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “AI-Enabled Drug Discovery and Clinical Trials Market”, By Components (Solutions and Services), By Solution (Aggregation & Analysis, Clinical Trials, Drug Design, Drug Characterization, Biomarker Research, and Others), By Application (Oncology, Cardiovascular Diseases, Nervous System Diseases, Respiratory Disorder, Metabolic Diseases Immunologic Diseases, Infectious Diseases, and Others), By End-user (Biopharmaceutical Industry, Contract Research Organizations (CROs), and Academic Institutes and Research Centers), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Key Market Insights from the report:

The AI-enabled drug discovery and clinical trials market accounted for US$ 0.4 billion in 2020 and is estimated to be 4.34 billion by 2029 and is anticipated to register a CAGR of 30.7%. The market report has been segmented on the basis of components, solution, application, end-user, and region.

By components, the solutions segment will dominate the market by 2029, attributable to AI, detect the differences between healthy and cancerous tissues, and help in substantial implications in the development of biomarkers.

By solution, the drug design segment projected to obtain a higher market share by 2021. It is owing to AI, and Machine learning helps to discover and develop new drugs for idiopathic pulmonary fibrosis and chronic kidney disease and.
By application, the oncology segment expected to witness a higher CAGR by 2021, on account of the growth in demand for AI for enhancing the patient outcomes and quality of care and improve the accuracy of cancer diseases while lowering damage to healthy organs at risk.
By end-user, biopharmaceutical segment estimated to lead the market by 2029, as a result of machine learning and AI help in identifying novel biological target, manufacturing process improvement, processing clinical and biomedical data, and detect diseases such as cancer.
By region, North America estimates for a major share in 2019 and projected to lead the market by 2029 owing to the presence of globally leading pharmaceutical companies and high focus on R&D & substantial investment in the healthcare sector by USA governments.

Competitive Landscape:

The prominent player operating in the AI-enabled drug discovery and clinical trials market includes Accutar Biotechnology Inc., Ardigen, AiCure, LLC, Atomwise, Inc., Biovista Inc., BenevolentAI, Berg LLC, BioAge Labs, Inc., Berkeley Lights, Inc., and C4X Discovery Holdings Plc.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the market are included into the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered