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Artificial intelligence in drug discovery market forecast to 2024 released

Ample Market Research has last month published their analysis of the Artificial intelligence market for drug development, to highlight the trends, emerging technologies, company mergers and acquisitions, and how together these factors will impact the industry as a whole.

The 200 page report covers AI in drug discovery by component (e.g. software, services), by technology (ML, deep learning), by application (Immuno-oncology, neurodegenerative diseases, and cardiovascular disease) by end-user (pharma, biotech, CRO, academia and government institutes), as well as drawing regional forecasts.

The industry analysis has been ran until 2024, accounting for the impact of COVID-19.

According to the report the global market for AI in discovery was valued at $260 million last year, with the forecasted growth rate exceeding 40.7% from 2019 to 2026, meaning the key players analysed in the study: Microsoft Corporation, IBM Corporation, Google Inc., NVIDIA Corporation, Deep Genomics, Atomwise Inc., Cloud Pharamceuticals Inc., Insilico Medicine, Benevolentai, and Exscientia, should be standing on fairly solid growth over the next half decade.

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The report also covers the key factors governing the market growth, industry challenges and the risks faced by AI companies.

The full report unfortunately is not open-access but a sample document of the report: How COVID-19 Pandemic Will Impact This Market/Industry can be downloaded here.

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