“The Food and Drug Administration announced that it is developing a framework for regulating artificial intelligence products used in medicine that continually adapt based on new data. A new approach to these technologies would address the need for the algorithms to learn and adapt when used in the real world.”
The article cited AMA's "Global Artificial Intelligence (AI) in Drug Discovery Market Study" explored CAGR of 38.3%. According to the report, Increasing Number of Cross-Industry Collaborations
is one of the primary growth factors for the market. Increasing Importance of Precision Medicine
is also expected to contribute significantly to the Artificial Intelligence (AI) in Drug Discovery market. Overall, Immuno-oncology
applications of Artificial Intelligence (AI) in Drug Discovery, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The , such as , is boosting the Artificial Intelligence (AI) in Drug Discovery market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Artificial Intelligence (AI) in Drug Discovery market identified that the demand is rising in many different parts of the world as "Growth in Biotechnology Industry
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Artificial Intelligence (AI) in Drug Discovery market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Artificial Intelligence (AI) in Drug Discovery market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.