Global AI for Drug Discovery Market: Overview
Artificial intelligence for drug discovery is a technology that uses and different algorithms that value add in decision-making processes for drug discovery. The increasing cases of rare diseases and demand for personalized drug are the major factor fueling the growth of the global Al for Drug Discovery market.
An upcoming report by Transparency Market Research on the global AI for drug discovery market is expected to through light on the crucial aspects of the market. The report succeed for an in-depth analysis of the market scenario. Further, it is intended to find out impact of the key industry drivers, restraints, opportunities, and challenges present in the global AI for drug discovery market. The enormous data collected from the pharmaceutical companies has improved the credibility of report significantly. In addition to this, a thorough analysis on geographical segmentation and competitive landscape will help reader have a better understanding of the global medical device complaint management market.
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Global AI for Drug Discovery Market: Trends and Opportunities
Artificial Intelligence (AI) is projected to a lucrative avenues in the healthcare industry. The implementation of AI reduces researches and development gap in the drug manufacturing process and help in the targeted manufacturing of the drugs. Owing to this biopharmaceutical industries are tending towards AI to enhance their market share. This is a major factor fueling the growth of the global AI for drug discovery market.
The increasing pressure on the drug manufacturer to reduce drug price is another factor expected to boost the AI for drug discovery market. This is because Al reduced the failure rate of clinical trials and also eliminated the cost of length research and development in the drug discovery. Dearth of skilled healthcare professionals are another factor anticipated to bolster the growth of the global AI for drug discovery market.
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However, limited awareness, high cost and technical limitation of AI decision-making can impede the market growth. These limitations are expected to overcome with the untapped market opportunities in the emerging economies of the globe. Countries like India and China offers new avenues for the growth of the AI for drug discovery market.
Global AI for Drug Discovery Market: Geographical Analysis
On a geographical standpoint, the global medical device complaint management market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East. North America is projected to hold the highest share of the AI for drug discovery market in the near future. This is because the region is technologically advanced and one of the early adopter of latest technologies. High awareness of the AI in drug discovery among the key players in the region is another driver for the growth of the global AI for drug discovery market.
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Global AI for Drug Discovery Market: Competitive Landscape
Some of the prominent players operating in the AI for drug discovery market are IBM, Google, Microsoft, NVIDIA, Intel, Facebook, MetaMind , Tute Genomics, and AWS. The competitive landscape of the market depicts a fierce competition. The trend expected to be same as earlier experienced by the technology company in 2014- 2016. The key players of the biopharma companies are focusing to attract AI experts so as to upgrade.
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