Artificial Intelligence in Drug Discovery Market Size in 2023 To 2029 | NVIDIA Corporation (US), Exscientia (UK), BenevolentAI (UK), Recursion (US), Insilico Medicine (US), Schrödinger, Inc. (US), Microsoft Corporation (US), Google (US), Atomwise Inc. (U

The research study on the Global Artificial Intelligence in Drug Discovery Market offers a detailed outline of the factors influencing the worldwide business scope. The Artificial Intelligence in Drug Discovery Market research report shows new market insights, current situation examination with upcoming trends, and breakdown of the products and services. The report provides key statistics on the Artificial Intelligence in Drug Discovery market status, size, share, and growth factors. The study involves emerging players' information, also including the competitive landscape, sales, revenue, and global market share of top manufacturers. Maintain a competitive approach by sizing up available business opportunities in the Global Artificial Intelligence in Drug Discovery Market across various segments and emerging regions. Market trends, drivers, and opportunities are also mentioned in the report.

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The prominent players in this market are NVIDIA Corporation (US), Exscientia (UK), BenevolentAI (UK), Recursion (US), Insilico Medicine (US), Schrödinger, Inc. (US), Microsoft Corporation (US), Google (US), Atomwise Inc. (US), Illumina, Inc. (US), NuMedii, Inc. (US), XtalPi Inc. (US), Iktos (France), Tempus Labs (US), Deep Genomics, Inc. (Canada), Verge Genomics (US), BenchSci (Canada), Insitro (US), Valo Health (US), BPGbio, Inc. (US), IQVIA Inc (US), Labcorp (US), Tencent Holdings Limited (China), Predictive Oncology, Inc. (US), Celsius Therapeutics (US), CytoReason (Israel), Owkin, Inc. (US), Cloud Pharmaceuticals (US), Evaxion Biotech (Denmark), Standigm (South Korea), BIOAGE (US), Envisagenics (US), and Aria Pharmaceuticals, Inc. (US). Players adopted organic as well as inorganic growth strategies such as product launches and enhancements, and investments, partnerships, collaborations, joint ventures, funding, acquisition, expansions, agreements, sales contracts, and alliances to increase their offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

The report delivers data sources and methodologies. All primary sources were examined to gather and authenticate qualitative & quantitative information and determine future prospects. The key sources involve industry experts from the international Artificial Intelligence in Drug Discovery market, including management organizations, processing organizations, and analytics service providers within the industry's value chain. The extensive primary research process assumed for this report was considered to obtain and verify both qualitative and quantitative aspects of this research study. The Global Artificial Intelligence in Drug Discovery Market sections and Market Data Breakdown are explained in the report. Finally, the Artificial Intelligence in Drug Discovery Market is a valuable source of guidance for individuals and companies in the decision framework.

The Artificial Intelligence in Drug Discovery Market is divided by Type, by Profiles, by Application, by region, and by End user. The precise and revolutionary data provided through this report helps organizations become aware of the types of customers, client outlook, their purchasing aims, buyer's demands and preferences, and their different tastes regarding the products already available in the Artificial Intelligence in Drug Discovery market report. It also highlights top-rated market insights by monitoring market share, developments, and size with comprehensive information. Keep yourself updated with the latest market trends and changing dynamics due to COVID Impact and Economic strikes globally. Along with that, the report explains the major challenges and risks to face in the upcoming future. Additionally, the report provides a profound insight into key players' performance based on revenue generation and customer requirements. Moreover, the research report reveals market features of growth, incorporation characteristics, breakdown, and governance.

"Global Artificial Intelligence (AI) in Drug Discovery Market to register a CAGR of 40.2% from 2023 to 2028"

The artificial intelligence (AI) in drug discovery market is projected to reach USD 4.9 billion by 2028 from USD 0.9 billion in 2023, at a CAGR of 40.2% during the forecast period. AI expedites the identification and validation of potential drug targets by analyzing intricate biological data. This accelerates the selection of biologically relevant targets for therapeutic interventions. AI techniques such as machine learning enable rapid analysis and decision-making, reducing the time and resources required for drug discovery processes. This efficiency gains a competitive edge in the fast-paced pharmaceutical landscape. Therefore, aforementioned factors will drive the growth of this market. On the other hand, the inadequate availability of skilled labor is key factor restraining the market growth to a certain extent over the forecast period.

"Services segment is estimated to hold the major share in 2022 and also expected to grow at the highest over the forecast period."

Based on offering, the AI in drug discovery market is bifurcated into software and services. The2022 and segment expected to account for the largest market share of the global AI in drug discovery services market in 2022 and expected to grow fastest CAGR during the forecast period. Access to AI technology and expertise through services reduces the barriers for pharmaceutical companies to adopt AI in drug discovery. This is particularly beneficial for smaller companies without extensive in-house AI capabilities, enabling them to harness the power of AI without significant upfront investments.

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Reasons to Buy the Report

The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies.

Research Coverage

The report studies the AI in drug discovery market based on offering, technology, therapeutic area, use case, process, end user, and region.
The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.
The report studies micro-markets with respect to their growth trends, prospects, and contributions to the total AI in drug discovery market.
The report forecasts the revenue of market segments with respect to five major regions.

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