Global Artificial Intelligence in Drug Discovery market size was valued at $473.4 million in 2019 and is expected to grow at a CAGR of 27% from 2021 to 2027. Driving force for reducing drug discovery costs Production in recent years is expected to increase the demand for artificial intelligence (AI) platforms in the field of drug discovery. The average cost of discovery and development of a new drug is US$2.6 billion, according to industry journals. This is primarily due to the narrow developmental test funnel that eliminates most of the candidate therapies within preclinical and phase 1 trials. This is driving the adoption of artificial intelligence for faster, more efficient and cost-effective drug discovery among pharmaceutical industry stakeholders.
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Artificial Intelligence in Drug Discovery Market Segmentation
By Offering
• Software
• Services
By Technology
• Machine Learning
o Deep Learning
o Supervised Learning
o Reinforcement Learning
o Unsupervised Learning
o Other Machine Learning Technologies
• Others Technologies
By Application
• Immuno-Oncology
• Neurodegenerative Diseases
• Cardiovascular Diseases
• Metabolic Diseases
• Other Applications
By End User
• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations
• Research Centers and Academic & Government Institutes
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