The global AI-enabled drug discovery and clinical trials market will grow at 24.65% CAGR during 2021-2027 owing to the increased research development in Artificial Intelligence (AI), and includes technologies like machine learning, deep learning, recursive learning. Moreover, Artificial Intelligence (AI) can enhance various processes like data collection and analysis, generation of a virtual 3D model that depicts drug and binding interaction, design clinical studies, optimize clinical trials, and provide real-world evidence analysis. Furthermore, the increased number of synergistic activities, increased demand to reduce the cost of new drug discovery and their production, and increased adoption of cloud-based services and applications will propel the growth of the market. Nevertheless, the acceptance of artificial intelligence is substantially growing, as quicker, efficient, and cost-effective drug discovery and is gaining traction among the pharmaceutical industry stakeholders.

The COVID-19 outbreak has forced the pharma and biotech companies to adopt Artificial Intelligence so as to improve accuracy and speediness in drug discovery. Thus, providing a platform to have huge investment towards fast growth and trials of drugs.

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Based on end-user, academic & research centers and contract research organizations will have a significant contribution to the market as there is a need to improve the quality of care and streamline the workflow of the facilities. Moreover, the increased demand to maintain facility workflow and rearrange the work to enhance the quality of care will augment the growth of the AI-enabled drug discovery and clinical trials market.

North America dominates the global AI-enabled drug discovery and clinical trial market owing to the increasing number of clinical trials, increased spending on biopharmaceutical R&D, and increased optimistic perception towards AI in businesses. In addition, the presence of major industry players and increased awareness about the integration of AI in the drug discovery process play a pivotal role in propelling the growth of the AI-enabled drug discovery and clinical trials market in the region.

In September 2021, Accutar Biotechnology, Inc. has announced that the U.S. Food and Drug Administration (FDA) has cleared the company’s investigational new drug application (IND) for phase 1 Trial of AC0682 for the treatment of patients with estrogen receptor (ER)-positive breast cancers.

The prominent players in the AI-enabled drug discovery and clinical trials industry 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