Market Trends of Artificial Intelligence in Drug Discovery Industry
The Oncology Segment is Expected to Witness Significant Growth Over the Forecast Period
In oncology drug discovery, AI accelerates the discovery of anti-cancer drugs. With the incidence of cancer on the rise, the segment is expected to witness growth in the near future. According to the American Cancer Society 2022, cancer is the second-leading cause of death in the United States. It was estimated that over 609,360 deaths and 1.9 million new cancer cases are expected by the end of 2022.
AI expedites the drug discovery of anti-cancer drugs with machine learning and deep learning algorithms. Deep learning is highly flexible in the design of de novo molecular structures of the drug candidates and the prediction of their reactions. According to a study published in the journal Nature in 2022, AI is helpful in the effective identification of novel drugs and anti-cancer targets from biological networks. The biological networks effectively preserve and evaluate the interaction between the components of the cancer cells. This includes cellular network modeling, which helps to quantify the framework that connects the network properties and cancer through AI biology analysis. This helps to discover potential novel anti-cancer drugs and targets.
In addition, some market players have utilized AI in the drug discovery process for cancer. For instance, in October 2022, Model Medicines, a pharma-tech company, launched its Oncology Program, which is focused on drug discovery and development of anti-cancer drugs that target AXL and BRD4. Further, in June 2022, Schrödinger, Inc. received clearance from the USFDA for its investigational new drug application for SGR-1505, a MALT1 inhibitor. The company uses a physics-based software platform for drug discovery purposes. With the active research and clinical studies of anti-cancer drug discoveries using AI and the key developments of market players and pharmaceutical companies, the oncology segment is expected to witness significant growth over the forecast period.
North America is Expected to Dominate the Artificial Intelligence in Drug Discovery Market
North America is expected to dominate the market owing to factors such as the high adoption of AI technologies in pharmaceuticals, a large patient pool, a higher prevalence of chronic and infectious diseases, advanced healthcare infrastructure, and highly active clinical research and trials of AI and drug discovery in the region. The United States has a high prevalence of metabolic and lifestyle diseases. According to the CDC, in 2022, more than 130 million adults in the United States will be living with diabetes. As per the National Institutes of Health, 1 in every seven adults in the United States is affected by chronic kidney disease. Various research and academic institutes are integrating AI into drug discovery studies, including the University of Texas MD Anderson Cancer Center, the University of Alabama in Huntsville, the University of Oxford, and the University of Dundee, among others.
Key developments and the high concentration of market players in the United States are some of the other factors driving the growth of artificial intelligence in the drug discovery market in the region. For instance, in November 2021, Alphabet, the parent company of Google, launched its first drug discovery company, ISOMORPHIC LABORATORIES. Further, in September 2022, Microsoft signed a collaboration agreement with Novo Nordisk. Under the agreement, Microsoft would provide its AI, computational, and cloud services to the data science analysis, drug discovery, and development activities of Novo Nordisk. Also, in August 2022, Johnson & Johnson's unit, Janssen, announced a collaboration with SRI International to use SRI's SynFini AI platform for the discovery of small molecule drugs. Thus, these continuous developments in the region are anticipated to drive the growth of the market.
Therefore, owing to the increasing use of AI in drug discovery by academics, research, and healthcare institutions, the companies and their key developments are expected to boost the growth of the studied market in the North American Region.
