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Description
Artificial Intelligence in Medicine market size is valued at USD 782.2 million in 2021 and is expected to grow at a CAGR of 46.3% during the forecast period 2022 to 2028. The global market provides a detailed overview of the artificial intelligence in medicine market and which can be segmented by application, and region. Based on the application, artificial intelligence in the medical market has been segregated into hospital workflow, medical imaging & diagnosis, therapy planning, and drug discovery. By application, the drug discovery segment would expect to rise in the coming few years owing to the increasing adoption of artificial intelligence in drug discoveries. By region, North America is anticipated to dominate the artificial intelligence in medicine market owing to one of the largest markets for AI in the world. Furthermore, the strong economy, the high adoption rate of AI technologies across healthcare and pharma, the vigorous presence of prominent AI software and system suppliers, and huge investment by government and private organizations for the development and growth of research & development activities are poised to drive the demand for AI in medicine in the region.
Key Development:
In Jan 2020, BioMotiv and Atomwise announced a strategic partnership to co-develop therapies. The organizations will form co-owned, joint development companies that combine Atomwise’s AI technology and BioMotiv’s deep expertise in preclinical and clinical development to grow innovative academic and early-stage research into small molecule therapies. Atomwise’s AI technology will enable a lot of programs for challenging targets that are considered undruggable with traditional tools.
