Artificial intelligence for drug discovery is a technology that utilizes and dissimilar algorithms that value add in decision-making procedures for drug discovery. The growing cases of rare diseases and requirement for personalized drug are the foremost factor propelling the growth of the North America Artificial intelligence for Drug Discovery marker.
According to the report analysis, ‘North America Artificial Intelligence (AI) in Drug Discovery Market 2020-2026 by Offering, Technology, Drug Type, Therapeutic Area, Application, End User, and Country: Trend Forecast and Growth Opportunity’ states that Atomwise, Inc., BenevolentAI, Berg LLC, Bioage, BIOAGE, Cloud Pharmaceuticals, Inc., Cyclica, Deep Genomics, Envisagenics, Exscientia, Google, IBM Corporation, Insilico Medicine, Microsoft Corporation, Numedii, Inc., Numerate, NVIDIA Corporation, Owkin, Inc., Twoxar, Incorporated, Verge Genomics, Xtalpi, Inc. and several others are the great corporate which recently operating more effectively in the North America Artificial Intelligence (AI) in drug delivery for leading the highest market growth and dominating the handsome value of market share around the region while establishing the several research and development programs, analyzing the strategies and policies of the government as well as corporate, implementing the policies of enlargements and profit making, employing the young and active players, delivering the better consumer satisfaction, spreading the awareness connected to the applications of such, improving the qualitative and quantitative measures of such, and increasing the applications and specifications of such.
In addition, the growth of the artificial intelligence in drug discovery market is principally driven by factors such as the increasing number of cross-industry collaborations and partnerships, the growing need to control drug discovery & development costs and decrease the entire time taken in this process, the growing adoption of cloud-based applications & services, and the approaching patent expiry of blockbuster drugs.
Furthermore, reliant on the application, the artificial intelligence in the drug discovery market is classified into neurodegenerative diseases, immuno-oncology, cardiovascular disease, metabolic diseases, and many other applications. Neurodegenerative diseases form the fastest-growing application sector, with a highest CAGR throughout the forecast duration. The ability of AI to discover drugs for composite conditions and the emphasis of market players on delivering the AI-based platforms for neurological diseases are accountable for the fast growth of this application sector.
Moreover, it is predicted that North America was the largest and the fastest-growing regional market for artificial intelligence in drug discovery. North America, which entails the US, Canada, and Mexico, forms the greatest market for AI in drug discovery. These regions have been early adopters of AI technology in drug discovery and improvement. In the North American market, the US is a foremost contributor. Also, protuberant AI technology providers, such as IBM, Google, Microsoft, NVIDIA, and Intel, are headquartered in the US; their strong existence is a foremost contributor to market growth. Other drivers comprise the well-established pharmaceutical industry, great focus on R&D & substantial investment, and the existence of globally leading pharmaceutical corporate. These are some of the foremost factors accountable for the large share and great growth rate of this market. Therefore, in the near years, it is predicted that the market of Artificial intelligence in drug discovery will increase around the region as well as globe over the forthcoming years.
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Ankur Gupta, Head Marketing & Communications