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Successful implementation of AI across the pharmaceutical value chain can help potentially impact approximately 3-5% of the total industry revenue by 2022 (amounting to over $50 Billion), more than double what is achievable using traditional analytics. This Frost Radar™: Artificial Intelligence-enabled Drug Discovery in the Global Pharmaceutical Industry - 2021 report intends to identify and acknowledge the most prominent companies that leverage AI for the drug discovery process and enable this transformation. The combined funding raised by the selected 16 companies featured in the 2020 Frost Radar™ has already exceeded $900 million dollars, within a year post the publication. In a field with more than 100 global competitive participants, Frost & Sullivan independently assessed and identified the top 18 companies that were than included in this year’s Frost Radar™ analysis.

Pharmaceutical drug discovery and development suffers from declining success rates with new molecules and the rate of return has been shrinking from 16% in 2011 to almost 11% in 2018. Frost & Sullivan’s research indicates that the traditional solutions have focused primarily on data from limited sources and rule-based computational techniques to address the understanding around targets and leads are inefficient. Increasing volume and veracity of clinical and research data compels traditional providers to leverage converging technologies such as AI, ML, NLP, and advanced analytics to shift from static to dynamic and adaptive data management practices. The ecosystem for supporting this growth has matured, several technology start-ups and large commercial vendors have already started delivering the impact through their products and solutions catering the drug discovery segment.