The global AI-enabled drug discovery and clinical trials market is expected to witness a CAGR of 24.65% during the forecast period. The advancement of AI which includes technologies such as machine learning (ML), deep learning, supervised learning, and recursive learning in medical research has been specifically used for drug discovery and clinical trials, which can improve various processes like data collection and analysis, generation of virtual 3D models, optimization of clinical trials, real-world evidence analysis.

Moreover, the increasing volume of data generated due to the molecule screening process, delay in patent expiry, expansion of biotechnology industries, and preclinical studies will propel the growth of AI in the market. Nevertheless, the market is witnessing expansion opportunities in emerging economies like Latin America, Japan, China, etc. Thus, the use of AI will increase the precision of the complex and time-consuming discovery phase during the drug development process which will lead to faster advancement of drugs and less risk of failure.

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The COVID-19 outbreak has led pharmaceutical and biotech companies to adopt artificial intelligence (AI) to improve precision and speed in the process of drug development. This pandemic has led to the huge investment in the fast development and trial of drugs.

Based on the therapeutic applications, the global AI-enabled drug discovery and clinical trials market is divided into oncology, nervous system diseases, cardiovascular diseases, respiratory disorders, metabolic diseases, immunologic diseases, infectious diseases, and others. The oncology segment holds the highest share in the AI-enabled drug discovery and clinical trials market as it plays a crucial role in the early detection of cancer. Moreover, the cancer treatment differs for each patient, personalized medicine has proved to be an effective alternative for the treatment of cancer. For instance, Sophia Genetics, a Swiss company has developed an AI platform that helps in the detection of tumors by identifying gene variations and helps in designing personalized medicine for cancer treatment.

Asia-Pacific is expected to witness the fastest-growing region in the AI-enabled drug discovery and clinical trials market due to the rising penetration of industry players, development of healthcare infrastructure, booming CRO industry in the region.

Some of the major players in the global Ai-enabled drug discovery and clinical trials market include Accutar Biotechnology Inc., AiCure, Ardigen, Atomwise inc., BERG LLC, Biovista, Cloud Pharmaceuticals, Inc., Cyclica Inc., Symphony Innovation, LLC, and Benevolent AI.

Source: VynZ Research