Global AI-Enabled Drug Discovery and Clinical Trials Market

Report ID : 1239 | Published : 2022-06-06 | Pages: | Format: PDF/EXCEL

The Global AI-Enabled Drug Discovery and Clinical Trials market is estimated to reach over USD 3641.01 million by 2030, exhibiting a CAGR of 26.3% during the forecast period. 

AI-Enabled Drug Discovery and Clinical Trials are expected to gain promiscuous popularity over the coming years due to a rapid increase in the use of AI worldwide and its increasing scope of application in multiple industry verticals. Artificial intelligence technology is advancing rapidly, and continuous technological advancements are expected to boost AI-Enabled Drug Discovery and Clinical Trials market potential. The increasing digitization of the healthcare industry will also majorly propel AI-Enabled Drug Discovery and Clinical Trials across the world through 2028. Rising research and development activity will also help the AI-Enabled Drug Discovery and Clinical Trials market gain the expected impetus in the global marketplace through 2028.

However, the high costs associated with AI-Enabled Drug Discovery and Clinical Trials are expected to have a negative impact on the global AI-Enabled Drug Discovery and Clinical Trials market growth. The AI-Enabled Drug Discovery and Clinical Trials market experienced an increase in demand in the COVID-19 pandemic to fast track development of vaccines, and this trend set the stage for future market growth and will enhance AI-Enabled Drug Discovery and Clinical Trials market performance over the forecast period.

Market Segmentation:

The AI-Enabled Drug Discovery and Clinical Trials market is segmented on the basis of product and application. Based on the component scope, the market is segmented into solutions and services. By application, the market is segmented into Data Aggregation and Analysis, Clinical Trials, Drug Design, Drug Characterization, and Biomarker Research. By therapeutic application, the market is segmented into Oncology, Cardiovascular Diseases, Nervous System Diseases, Respiratory Disorders, Metabolic Diseases, Immunologic Diseases, and Infectious Diseases. By end-users, the market is segmented into Biopharmaceutical Industry, Contract Research Organizations (CROs), and Academic Institutes and Research Centers.

Based on therapeutic application, the oncology segment dominates

The incidence of cancer has risen substantially over the past few years, and this has bolstered demand for oncology across the world. Increasing investments in oncology research and development are expected to boost AI-Enabled Drug Discovery and Clinical Trials market potential over the forecast period. The oncology segment is expected to be the most lucrative application segment over the forecast period. 

Biopharmaceutical Industry to lead growth

The biopharmaceutical industry has taken notable strides ahead over the past few years, and this trend is rife over the forecast period as well. The rising number of biopharmaceutical companies across the world and increasing investments in research activity coupled with supportive government initiatives are expected to provide highly lucrative opportunities for AI-Enabled Drug Discovery and Clinical Trials market growth through 2028.

The North America AI-Enabled Drug Discovery and Clinical Trials market holds a dominant outlook in the region.

Global AI-Enabled Drug Discovery and Clinical Trials market in North America is estimated to dominate the forecast period due to the existence of strong healthcare infrastructure. Increasing investment on R&D activities sponsored by governments in this area is likely to be a major driver through 2030. Increasing adoption of technology in healthcare, favorable reimbursement policies, the surge in chronic diseases, rising incidence of cancers, and increasing demand for better diagnostics and treatment are other factors that are anticipated to propel the AI-Enabled Drug Discovery and Clinical Trials market growth over the forecast period. The United States and Canada are expected to lead the market growth in this region through 2030.

Competitive Landscape

The key players in the AI-Enabled Drug Discovery and Clinical Trials market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance product portfolio and strengthen their market footprint across the globe. Some of the major key players in the AI-Enabled Drug Discovery and Clinical Trials market are Accutar Biotechnology Inc., AiCure, Ardigen, Atomwise Inc., Benevolent AI, Berg, Berkeley Lights, BioAge Labs, Biovista, C4X Discovery Holdings Plc, Clinithink Ltd, Cloud Pharmaceuticals, Cyclica Inc., CytoReason, Concerto Health AI., Deep Genomics Inc., DeepThink Health Inc., Envisagenics, Inc., Exscientia Limited, e-therapeutics plc, GNS Healthcare, Insilico Medicine, Lantern Pharma Inc., Medable, Inc., Mind the Byte, NuMedii, Inc, Nuritas, Ltd., Owkin, Inc., Recursion Pharmaceuticals, Inc., Schrödinger, LLC, Symphony Innovation, LLC, TARA Biosystems, Inc., twoXAR, Incorporated, Verge Analytics, Inc., Winterlight Labs Inc., WuXi Nextcode Genomics, XtalPi Inc., and Other Prominent Players.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global AI-Enabled Drug Discovery and Clinical Trials Market Snapshot

Chapter 4. Global AI-Enabled Drug Discovery and Clinical Trials Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Industry Analysis – Porter’s Five Forces Analysis

4.6. Competitive Landscape

4.7. Technology Advancement in Global AI-Enabled Drug Discovery and Clinical Trials Market

Chapter 5. Market Segmentation 1: Component Estimates & Trend Analysis

5.1. Component Type & Market Share, 2020 & 2028

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2028 for the following Component:

5.2.1. Solutions

5.2.2. Services

Chapter 6. Market Segmentation 1: Application & Trend Analysis

6.1. Application & Market Share, 2020 & 2028

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2028 for the following Application:

6.2.1. Data Aggregation and Analysis

6.2.2. Clinical Trials

6.2.3. Drug Design

6.2.4. Drug Characterization

6.2.5. Biomarker Research

Chapter 7. Market Segmentation 1: Therapeutic Application Estimates & Trend Analysis

7.1. Therapeutic Application & Market Share, 2020 & 2028

7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2028 for the following Therapeutic Application:

7.2.1. Oncology

7.2.2. Cardiovascular Diseases

7.2.3. Nervous System Diseases

7.2.4. Respiratory Disorder

7.2.5. Metabolic Diseases

7.2.6. Immunologic Diseases

7.2.7. Infectious Diseases

Chapter 8. Global AI-Enabled Drug Discovery and Clinical Trials Market Segmentation 2: End-Users Estimates & Trend Analysis

8.1. End-Users Analysis & Market Share, 2020 & 2028

8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2028 for the following End-Users:

8.2.1. Biopharmaceutical Industry

8.2.2. Contract Research Organizations (CROs)

8.2.3. Academic Institutes and Research Centers

Chapter 9. Global AI-Enabled Drug Discovery and Clinical Trials Market Segmentation 3: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Component, 2020-2028

9.1.2. North America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Application, 2020-2028

9.1.3. North America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Therapeutic Application, 2020-2028

9.1.4. North America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by End-Users, 2020-2028

9.1.5. North America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by country, 2020-2028

9.1.5.1. U.S.

9.1.5.2. Canada

9.2. Europe

9.2.1. Europe Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by Component, 2020-2028

9.2.2. Europe Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Application, 2020-2028

9.2.3. Europe Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Therapeutic Application, 2020-2028

9.2.4. Europe Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by End-Users, 2020-2028

9.2.5. Europe Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by country, 2020-2028

9.2.5.1. Germany

9.2.5.2. Poland

9.2.5.3. France

9.2.5.4. Italy

9.2.5.5. Spain

9.2.5.6. UK

9.2.5.7. Rest of Europe

9.3. Asia Pacific

9.3.1. Asia Pacific Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by Component, 2020-2028

9.3.2. Asia Pacific Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Application, 2020-2028

9.3.3. Asia pacific Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Therapeutic Application, 2020-2028

9.3.4. Asia Pacific Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by End-Users, 2020-2028

9.3.5. Asia Pacific Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by country, 2020-2028

9.3.5.1. China

9.3.5.2. India

9.3.5.3. Japan

9.3.5.4. Australia

9.3.5.5. Rest of Asia Pacific

9.4. Latin America

9.4.1. Latin America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by Component, (US$ Million)

9.4.2. Latin America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Application, 2020-2028

9.4.3. Latin America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Therapeutic Application, 2020-2028

9.4.4. Latin America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by End-Users, (US$ Million)

9.4.5. Latin America Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by country, (US$ Million) 2020-2028

9.4.5.1. Brazil

9.4.5.2. Rest of Latin America

9.5. MEA

9.5.1. MEA revenue Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by Component, (US$ Million) 2020-2028

9.5.2. MEA Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Application, 2020-2028

9.5.3. MEA Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) estimates and forecasts by Therapeutic Application, 2020-2028

9.5.4. MEA revenue Global AI-Enabled Drug Discovery and Clinical Trials Market revenue (US$ Million) by country, (US$ Million) 2020-2028

9.5.4.1. South Africa

9.5.4.2. Rest of MEA

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles

10.2.1. Accutar Biotechnology Inc.

10.2.2. AiCure

10.2.3. Ardigen

10.2.4. Atomwise Inc.

10.2.5. Benevolent AI

10.2.6. Berg

10.2.7. Berkeley Lights

10.2.8. BioAge Labs

10.2.9. Biovista

10.2.10. C4X Discovery Holdings Plc

10.2.11. Clinithink Ltd

10.2.12. Cloud Pharmaceuticals

10.2.13. Cyclica Inc.

10.2.14. CytoReason

10.2.15. Concerto Health AI.

10.2.16. Deep Genomics Inc.

10.2.17. DeepThink Health Inc.

10.2.18. Envisagenics, Inc.

10.2.19. Exscientia Limited

10.2.20. e-therapeutics plc

10.2.21. GNS Healthcare

10.2.22. Insilico Medicine

10.2.23. Lantern Pharma Inc.

10.2.24. Medable, Inc.

10.2.25. Mind the Byte

10.2.26. NuMedii, Inc

10.2.27. Nuritas, Ltd.

10.2.28. Owkin, Inc.

10.2.29. Recursion Pharmaceuticals, Inc.

10.2.30. Schrödinger, LLC

10.2.31. Symphony Innovation, LLC  

10.2.32.  TARA Biosystems, Inc.

10.2.33. twoXAR, Incorporated

10.2.34. Verge Analytics, Inc.

10.2.35. Winterlight Labs Inc.

10.2.36. WuXi Nextcode Genomics

10.2.37. XtalPi Inc.

10.2.38. Other Prominent Player

Segmentation of AI-Enabled Drug Discovery and Clinical Trials Market-

By Component Scope-

  • Solutions
  • Services

By Application

  • Data Aggregation and Analysis
  • Clinical Trials
  • Drug Design
  • Drug Characterization
  • Biomarker Research

By Therapeutic Application

  • Oncology
  • Cardiovascular Diseases
  • Nervous System Diseases
  • Respiratory Disorder
  • Metabolic Diseases
  • Immunologic Diseases
  • Infectious Diseases

By End-Users

  • Biopharmaceutical Industry
  • Contract Research Organizations (CROs)
  • Academic Institutes and Research Centers

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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