The use of artificial intelligence (AI) technology can improve research and development efficiency and reduce cost investment to a certain extent. The design, discovery, and development of new drugs will also be shortened. The use of AI is to develop new drugs as it simulates the process of drug screening by computer, to predict the activity of compounds, and to conduct targeted physical screening of potential compounds. AI in the pharmaceutical industry mainly plays a supporting role, including drug mining, in-depth learning algorithm analysis of data, and prediction of new drug effectiveness, etc., to a certain extent, improve the efficiency of research and development, save money and reduce the risk of clinical trial failure.
AI uses big data and machine learning methods to propose the structural characteristics of drug targets and small molecule drugs from a large amount of information in papers, patents, and clinical experiments.
Global AI-Enabled Drug Discovery and Clinical Trials Market predicted to grow with a momentous rate during the forecast period, 2020-2027. The rise in demand for artificial intelligence to control drug discovery & development costs and reduce the overall time taken in this process would accelerate the growth of AI-enabled drug discovery and clinical trials market. Moreover, the growing application of AI to generate novel drug candidate, and aggregate and synthesize information will expand the AI-enabled drug discovery industry in the next few years. Additionally, AI in clinical trials improve the effectiveness of clinical trials and reduce cost, such as identifying the right classification of humans based on genomics, which leads to triggering the global AI-enabled clinical trials market in the future periods.
Artificial intelligence used to capture clinical data from multiple internal data sources to predict and monitor patient recruitment, cost, and quality of clinical trials. Also, the application of artificial intelligence technology in all stages of drug development: including deep feature selection, NLP in the target discovery stage; deep learning in the generation of new small molecule lead compounds; and clinical research on small molecules. Furthermore, the AI helping the drug industry by storing, manage, and trade life data: social network data, health data, and medical records.
The Artificial Intelligence has developed to assist the drug discovery industry, in several ways: predicting the outcome of a reaction with a given set of lead compounds, predicting the yield of a chemical reaction, and reverse-synthesizing planning. With the increase in computing power, AI will be able to introduce new treatments to the market at a much lower cost and at an amazing speed, without the need for large-scale infrastructure and investment. AI enables us to produce complex multi-targeted drugs, enabling one drug to treat multiple diseases.
AI has the potential to automatically find meaning patterns in large data sets, such as text, speech, or images. Natural language processing (NLP) can understand and correlate written or spoken language and the content of the human-machine interface (HMI), allowing natural information exchange between computers and humans.
Based on components, the global AI-enabled drug discovery and clinical trials market bifurcated into Solutions and Services. The solutions segment predicted to gain a major share in the market by 2027, owing to the AI reduce timelines for drug discovery and improve the agility of the research process and surge the accuracy of predictions on the efficacy and safety of drugs.
The services segment will grow attributable to accelerate patient recruitment and identify patients who match complex trial criteria in minutes.
Based on the Solution, the global AI-Enabled drug discovery and clinical trials market classified into Data Aggregation and Analysis, Clinical Trials, Drug Design, Drug Characterization, Biomarker Research, and Others. The Drug Design segment projected to register higher CAGR due to the AI helps companies to build capability, which mixes human expertise with an understanding of data and technology and secure buy-in and ensure these are used correctly.
The Clinical Trials segment will influence owing to the benefits of AI, such as improving data quality, increasing patient compliance & retention, and identifying treatment efficacy more efficiently and reliably than ever before.
Based on application, the global AI-Enabled Drug Discovery and Clinical Trials market classified into Oncology, Cardiovascular Diseases, Nervous System Diseases, Respiratory Disorder, Metabolic Diseases Immunologic Diseases, Infectious Diseases, and Others. The Oncology segment estimated to generate maximum revenue by 2027, as AI is helpful for cancer treatment such as Cancer Imaging, identify optimal treatments, enabling early diagnosis and interventions, and enable faster development of life-saving drugs.
The security & Surveillance segment will grow by the benefits of AI, such as clinicians diagnose disease and optimize treatment processes.
Based on end-user, the global AI-enabled drug discovery and clinical trials market categorized into Biopharmaceutical Industry, Contract Research Organizations (CROs), and Academic Institutes and Research Centers. Biopharmaceutical Industry segment expected to lead the market on account of the AI help in developing new drugs, predict untested components researchers should explore to find new cures and automated data gathering and analysis to create solutions to some of the most complex diseases.
The industrial segment will drive by application of AI, which helps in finding better clinical trials.
Based on geography, the global AI-Enabled Drug Discovery and Clinical Trials market segmented into North America, Asia Pacific, Europe, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027, owing to the growing demand for AI in the medical, healthcare system, and pharma sector, coupled with the USA government spending more budget on health systems.
The Asia Pacific will drive by the surge in chronic diseases coupled the developing countries like China and India, giving financial support to the healthcare industry.
Companies such as Accutar Biotechnology Inc., AiCure, LLC, Ardigen, Atomwise, Inc, BenevolentAI, Berg LLC, Berkeley Lights, Inc., BioAge Labs, Inc., C4X Discovery Holdings Plc, Clinithink Ltd, Cloud Pharmaceuticals, Inc., Cyclica, Inc., CytoReason, and Symphony Innovation, LLC are the key players in the Global AI-Enabled Drug Discovery and Clinical Trials Market.