Europe AI in Drug Discovery Market

Europe AI in Drug Discovery Market is expected to grow at a CAGR of 45.7%

According to latest research report published by MarketsandMarkets, the Europe AI in Drug Discovery Market by Offering (Software, Service), Technology (Machine Learning, Deep Learning), Application (Cardiovascular, Metabolic, Neurodegenerative), End User (Pharma, Biotech,CROs) - Global Forecasts to 2027, is expected to grow at a CAGR of 45.7% from 2022 to 2027.

Here are some of the key trends that are expected to drive the growth of the AI in Drug Discovery Market in Europe:

  • Increasing investments in healthcare: Governments and private organizations in Europe are investing heavily in healthcare. This investment is leading to the development of world-class healthcare infrastructures in the region. The availability of such infrastructures has created a favorable environment for the growth of the AI in Drug Discovery Market.
  • Rising prevalence of chronic diseases: Chronic diseases such as cancer, diabetes, and cardiovascular diseases are a major cause of death and disability in Europe. The increasing prevalence of these diseases is driving the demand for new and innovative drugs. AI-powered drug discovery platforms can help pharmaceutical companies to identify new drug targets and design new drugs more efficiently.
  • Government support: Governments in Europe are supportive of the development of new technologies in the healthcare sector. Governments in the region have been providing financial and regulatory support to the development of AI-powered drug discovery platforms.

The AI in Drug Discovery Market in Europe is expected to be a major market for the development of new drugs in the coming years. The growth of this market will be driven by the increasing demand for new and innovative drugs, the rising prevalence of chronic diseases, and government support for the development of new technologies.

AI-powered drug discovery platforms can help pharmaceutical companies to identify new drug targets and design new drugs more efficiently. This is expected to lead to the development of new and effective drugs that can improve the lives of patients.

Here are some statistics that support the forecast:

  • The European Commission has set a goal of investing €100 billion in research and development by 2020.
  • The European Medicines Agency (EMA) has approved over 100 new drugs in the past five years.
  • The number of people living with chronic diseases in Europe is expected to reach 200 million by 2025.

The following are some of the key players in the AI in Drug Discovery Market in Europe:

  • Almac Discovery: Almac Discovery is a global contract research organization (CRO) that provides drug discovery services to pharmaceutical and biotechnology companies. The company has a strong track record of success in the development of new drugs using AI-powered drug discovery platforms.
  • Insilico Medicine: Insilico Medicine is a pharmaceutical company that uses AI to design new drugs. The company has a proprietary platform that can screen large datasets of molecules to identify potential drug candidates.
  • Exscientia: Exscientia is a pharmaceutical company that uses AI to design new drugs. The company has a proprietary platform that can predict the efficacy and toxicity of drugs.

The AI in Drug Discovery Market in Europe is expected to continue to grow in the coming years. The growth of this market will be driven by the increasing demand for new and innovative drugs, the rising prevalence of chronic diseases, and government support for the development of new technologies.

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Artificial Intelligence / AI in Drug Discovery Market Size,  Share & Growth Report
Report Code
HIT 7445
PR Published ON
6/16/2023
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