2024-2033 Artificial Intelligence (AI) In Predictive Toxicology Market: Key Insights on Growth Opportunities
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What is the Expected Growth Rate of the Artificial Intelligence (AI) In Predictive Toxicology Market from 2024 to 2033?
The artificial intelligence (AI) in predictive toxicology market has seen remarkable growth recently, projected to increase from $0.38 billion in 2023 to $0.50 billion in 2024, with a compound annual growth rate (CAGR) of 30.3%. This growth is driven by heightened regulatory demands for toxicity assessments, concerns over chemical safety, the availability of extensive datasets for model training, rising costs and ethical issues related to animal testing, and the need for faster, cost-efficient toxicity screening methods.
The artificial intelligence (AI) in predictive toxicology market is projected to experience significant growth, reaching $1.41 billion by 2028, with a CAGR of 29.9%. This growth is driven by the rise of explainable AI in toxicity predictions, the need for personalized assessments, regulatory acceptance of AI-based predictions, increased outsourcing of predictive toxicology, and the expansion of AI applications in drug development. Key trends include a shift to 3D cell culture models, the adoption of federated learning for collaborative predictions, the use of generative models for toxicity pathways, natural language processing for data extraction, and growth in virtual screening platforms.
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What Key Factors Are Fueling the Growth of the Artificial Intelligence (AI) In Predictive Toxicology Market?
The increasing need for efficient and ethical drug discovery is likely to fuel the growth of the artificial intelligence (AI) in predictive toxicology market. Drug discovery is a complex process that requires the evaluation of chemical compounds for therapeutic potential, while efficient methods prioritize responsible practices. The demand for improved drug discovery arises from the prevalence of chronic diseases and the trend toward personalized medicine. AI enhances this process by analyzing extensive datasets to forecast toxicological outcomes, thereby speeding up development while maintaining ethical standards. In June 2023, the European Federation of Pharmaceutical Industries and Associations reported that pharmaceutical R&D expenditure in Europe reached $49.5 billion in 2022, a 6.45% increase from 2021. Consequently, the demand for efficient drug discovery processes is driving the AI in predictive toxicology market.
What Are the Major Segments of the Artificial Intelligence (AI) In Predictive Toxicology Market?
1) By Component: Hardware; Software; Service
2) By Technology: Machine Learning; Natural Language Processing; Computer Vision; Gesture Control; Other Technologies
3) By Genre: Action; Adventure; Puzzle; Simulation; Role playing; Other Genres
What New Trends Are Transforming the Artificial Intelligence (AI) In Predictive Toxicology Market?
Major companies in the artificial intelligence (AI) predictive toxicology market are forming strategic collaborations to boost their market presence and foster innovation. These partnerships aim to utilize AI and machine learning for better prediction and assessment of chemical and pharmaceutical toxicity. For example, in January 2024, SyntheticGestalt, a UK-based AI R&D firm, teamed up with Enamine, a Ukraine-based provider of chemical building blocks, to create AI models that generate synthetically accessible biologically active compounds, enhancing their physicochemical and ADME or Tox properties. This collaboration will support SyntheticGestalt’s compound discovery efforts, benefiting both academic institutions and pharmaceutical firms, while Enamine has made its extensive database of 38 billion molecules accessible for integration into SyntheticGestalt’s Drug Discovery Service.
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Which Regions Are Driving Growth in the Artificial Intelligence (AI) In Predictive Toxicology Market?
North America was the largest region in the artificial intelligence (AI) in predictive toxicology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in predictive toxicology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Artificial Intelligence (AI) In Predictive Toxicology Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the artificial intelligence (ai) in predictive toxicology market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Artificial Intelligence (AI) In Predictive Toxicology Market Include
1. Artificial Intelligence (AI) In Predictive Toxicology Market Executive Summary
2. Artificial Intelligence (AI) In Predictive Toxicology Market Segments
3. Artificial Intelligence (AI) In Predictive Toxicology Market Size And Template Market Growth Rate
4. Key Artificial Intelligence (AI) In Predictive Toxicology Market Trends
5. Major Artificial Intelligence (AI) In Predictive Toxicology Market Drivers
……
25. Key Mergers And Acquisitions In The Artificial Intelligence (AI) In Predictive Toxicology Market
26. Top Artificial Intelligence (AI) In Predictive Toxicology Companies
27. Artificial Intelligence (AI) In Predictive Toxicology Market Opportunities And Strategies
28. Artificial Intelligence (AI) In Predictive Toxicology Market, Conclusions And Recommendations
29. Appendix
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