According to the research report, the global Artificial Intelligence (AI) in Drug Discovery Market size and share was valued at USD 626.6 Million in 2021 and is projected to reach USD 5,558.0 Million by 2029 , to grow at a CAGR of 33.9% over the forecast. period.
According to the research report, the global Artificial Intelligence (AI) in Drug Discovery market size and share was valued at USD 626.6 million in 2021 and is expected to reach USD 5,558.0 million by 2029, growing at a CAGR of 33.9% during the forecast period.
Spearheading the confidence of biopharmaceutical companies in AI is due to the growing awareness related to AI in the pharmaceutical sector and funding for drug development. AI works with brand new modern processes in biology and chemistry to advance the latest algorithms. It can take drug testing from the lab to the virtual lab without requiring substantial manpower and speculative input. Most major biopharmaceutical companies have initiated internal programs or are cooperating to advance AI platforms to increase the research power of metabolic disease therapy, immuno-oncology drugs and cancer treatments.
AI can add value to small molecule drug discovery in four ways: access to new biology, improvement or new chemistry, higher success rates, and rapid and cost-effective discovery procedures. Technology can cause many confrontations and restrictions in conventional R&D. Each application opens the door to additional insight for drug discovery teams and can often radically reconsider long-standing workflows.
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Important Questions Answered by the Market Report
- What is the size and growth of the market?
- What is the market value of AI in the drug discovery market?
- Base year calculated in AI in drug discovery market report?
- Which are the major companies holding the market share?
- What is the most influential segment that is evolving?
- What are the key trends?
The best market players are:
- Benevolent AI
- Berg Health
- Pharmaceutical cloud
- Deep genomics
- GNS Health
- IBM Corporation
- Insilico Medicine
- NVIDIA Corporation
- OWKIN Inc.
- Aria Pharmaceuticals Inc.
- Genomic Rod
- XtalPi Inc.
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AI in the Drug Discovery Market: Key Growth Drivers
AI has been widely used in the healthcare sector, especially in the search for new drugs. This quality can recognize drug targets and play a vital role in identifying, developing, detecting and screening tiny molecules in less time. Moreover, the market is expected to witness aggressive growth over the forecast period owing to the benefits of using these progressive techniques over traditional procedures.
At a rapid pace, the incidence of chronic diseases is increasing globally. Chronic diseases like diabetes and heart disease are the leading causes of death. These factors highlight the growing prevalence of chronic diseases and the need to lower the mortality rate due to these diseases. AI platforms used for drug discovery can be an alternative for obtaining drug discovery insights to minimize the severity of many chronic diseases.
The covid-19 pandemic has impacted several industries around the world. Governments around the world have enforced strict containment measures. Social distancing norms have also been put in place to curb the impending pandemic. Manufacturing facilities around the world have been shut down. Additionally, the post-pandemic economic crisis has resulted in a noticeable delay in the commercial inauguration of the healthcare industry.
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AI in the Drug Discovery Market: Report Scope
Market Size Value 2021
Market Outlook for 2029
Expected CAGR Growth
33.9% from 2022 to 2029
Year of reference
2022 – 2029
By Application, By Therapeutic Area, By Offer, By Technology, By Region
Atomwise, Benevolent AI, Berg Health, BIOAGE, BioSymetrics, Cloud Pharmaceuticals, Cyclica, Deep Genomics, DeepMind, Envisagenics, Euretos, Exscientia, GNS Healthcare, IBM Corporation, Insilico Medicine, Insitro, NuMedii, Numerate, NVIDIA Corporation, OWKIN, Inc. , Aria Pharmaceuticals, Inc., Verge Genomics, XtalPi Inc.
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Custom purchase options are available to meet your research needs.
AI in the Drug Discovery Market: Key Segmentation
- Overview by application, therapeutic area, offer, technology and region
Based on the therapeutic area, neurodegenerative diseases is the rapidly growing segment owing to the ability of AI to discover drugs for complicated conditions and the priority of market players to deliver AI-dependent platforms for neurological diseases. By application, the optimization and repurposing segment is considered the largest revenue share in the industry. It is cost effective and only requires electronic medical records (EMR) for medication reassignment. By offering, the software segment held the largest market share owing to factors such as lower cost and time to market of the drug, lower failure rate and large number of drug discovery software developers .
By region, North America has emerged as the largest and fastest growing regional market for AI in drug discovery. North America includes Canada, the United States and Mexico, forming the largest market for AI in drug discovery. These countries have been associated with AI technology in drug discovery and development for several years. The United States is an important contributor to the North American market. Additionally, major sources of AI technology such as Google, IBM, NVIDIA, Microsoft, and Intel are located in the United States, where their strong presence has been a key driver for market growth.
Browse all “Artificial Intelligence in Drug Discovery Market Share, Size, Trends, Industry Analysis Report, by Application (Drug Optimization and Reuse, Preclinical Testing, Others); By therapeutic area; By offering; By technology; By region; Sector forecasts, 2022 – 2029 » Report to https://www.polarismarketresearch.com/industry-analysis/ai-in-drug-discovery-market
- Qualitative and quantitative investigation of the market based on segmentation including economic and non-economic factors
- Provide market value data for each segment and sub-segment
- Points towards the region and segment expected to observe rapid growth and dominate the market
- The inspection by geography highlights the supply of services and products in the region and highlights the factors influencing the market in each region
- Competitive landscape which includes the market classification of prominent players along with new product and service launches, business expansions, partnerships and membership in the past five years of the company being profiled
- Substantial company profiles including company overview, company information, product benchmarking and SWOT analysis for key market players
Market majorly depends on application, therapeutic area, supply, technology and region
AI in the Drug Discovery Market: By Application
- Medication optimization and reallocation
- Preclinical trials
AI in the drug discovery market: by therapeutic area
- Neurodegenerative diseases
- Heart disease
- Metabolic diseases
- Infectious disease
AI in the drug discovery market: by offering
AI in the Drug Discovery Market: By Technology
- machine learning
- deep learning
- Supervised teaching
- Reinforcement learning
- Unsupervised learning
- Other machine learning technologies
- Other technologies
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