USD 850 million
AI in Drug Discovery Market Size, Share, Growth Analysis, By Type(Small molecules and Large molecules), By End-User(Pharmaceutical and Biotechnology Companies and Academics and Research institutes), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35J2061 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
59
|Figures:
75
AI in Drug Discovery Market Insights
AI in Drug Discovery Market size was valued at USD 1,101.6 million in 2022 and is poised to grow from USD 1,427.67 million in 2023 to USD 11,362.37 million by 2031, growing at a CAGR of 29.6% during the forecast period (2024-2031).
The global AI in drug discovery market is a rapidly evolving and transformative field that combines the power of artificial intelligence (AI) and machine learning (ML) with traditional pharmaceutical research and development processes. AI is revolutionizing the drug discovery process by offering innovative solutions to accelerate the discovery and development of new drugs, optimize clinical trials, and improve patient outcomes. AI in drug discovery leverages computational algorithms and advanced data analytics to analyze massive amounts of biological and chemical data. It enables researchers to identify potential drug targets, design novel molecules, predict their properties, and assess their safety and efficacy. By utilizing AI, pharmaceutical companies and research institutions can streamline the drug discovery process, reduce costs, and increase the success rate of bringing new drugs to market. The global AI in drug discovery market is witnessing significant growth and investment from pharmaceutical companies, technology firms, and venture capitalists. The market is driven by factors such as the increasing demand for innovative and effective drugs, the growing availability of big data in the life sciences industry, and advancements in AI and ML technologies. Furthermore, regulatory agencies are increasingly recognizing the potential of AI in drug discovery and are actively working to establish guidelines and frameworks for its implementation. In conclusion, the global AI in drug discovery market represents a transformative and promising approach to revolutionize the pharmaceutical industry. By harnessing the power of AI and advanced analytics, researchers can expedite the drug discovery process, leading to the development of more efficient and personalized therapies that can positively impact patient outcomes. The continued advancements and adoption of AI in drug discovery are expected to reshape the future of medicine and healthcare.
US AI in Drug Discovery Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceutical and Biotechnology Companies
Fastest Growth
Pharmaceutical and Biotechnology Companies
Growth Rate
29.6% CAGR
Global AI in Drug Discovery Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
AI in Drug Discovery Market Segmental Analysis
Global AI in Drug Discovery Market is segmented type, end-user, and region. Based on Technology, the market can be segmented into small molecules and large molecules. Based on end-user, the market is segmented into Pharmaceutical and Biotechnology Companies and Academics and Research institutes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
AI in Drug Discovery Market Analysis by Type
By type, the market can be segmented into small molecules and large molecules. Small molecule segment dominated the market. Small molecules are typically low molecular weight compounds that can easily penetrate cell membranes and interact with specific target proteins. They are widely used in drug discovery due to their favorable pharmacokinetic properties, ease of synthesis, and established regulatory pathways for approval. The application of AI in small molecule drug discovery involves virtual screening, lead optimization, and molecular property prediction. AI algorithms can efficiently analyze large datasets to identify potential small molecule drug candidates, optimize their properties, and predict their efficacy and safety. The dominance of the small molecules segment can be attributed to the extensive research and development efforts invested in this area and the well-established infrastructure for small molecule drug discovery.
While the large molecules segment is experiencing significant growth and is the fastest-growing segment. Large molecules, also known as biologics, include therapeutic proteins, antibodies, peptides, and nucleic acids. These molecules have complex structures and are typically produced through biotechnological processes. The application of AI in large molecule drug discovery involves protein structure prediction, antibody design, and biologics optimization. AI algorithms can analyze vast biological and genomic data to identify protein targets, design novel biologics, and optimize their properties for improved therapeutic effects. The growing adoption of large molecule drugs in various therapeutic areas, such as oncology, immunology, and rare diseases, is driving the demand for AI-enabled approaches to enhance the discovery and development of large molecule therapeutics. Factors such as advancements in biotechnology, increased understanding of disease mechanisms, and regulatory support for large molecule drugs contribute to the rapid growth of this segment.
AI in Drug Discovery Market Analysis by End-User
By end-user, the market can be segmented into Pharmaceutical and Biotechnology Companies and Academics and Research institutes. These companies have significant resources and expertise to invest in AI technologies for drug discovery. They are driven by the need to improve the efficiency and success rates of their drug development processes. By leveraging AI capabilities, pharmaceutical and biotechnology companies can analyze vast amounts of data, identify potential drug targets, and design optimized molecules. AI algorithms help in predicting the properties and safety profiles of these molecules, enabling faster and more targeted drug development. These companies also have the advantage of existing infrastructure and established collaborations with research institutions and regulatory bodies, providing them with a competitive edge in implementing AI solutions for drug discovery.
Academic and Research institutes have emerged as the fastest-growing segment in the AI in Drug Discovery market. Academic institutions and research organizations are increasingly recognizing the potential of AI in accelerating drug discovery and are actively exploring its applications. These entities are at the forefront of cutting-edge research and possess deep expertise in data analytics, machine learning, and computational biology. They play a crucial role in developing and refining AI algorithms and models for drug discovery. The academic and research segment is characterized by a high level of collaboration and knowledge sharing, which further fuels innovation. The increasing availability of research grants, government funding, and partnerships with pharmaceutical companies contributes to the rapid growth of this segment. Furthermore, academic institutions often have access to diverse and comprehensive datasets, making them valuable contributors to the AI in drug discovery ecosystem.
Global AI in Drug Discovery Market By End User
To get detailed analysis on other segments, Request For Free Sample Report
AI in Drug Discovery Market Regional Insights
North America dominated the global AI in Drug Discovery market. The region benefits from advanced healthcare infrastructure, strong research and development capabilities, and a high adoption rate of AI technologies in the pharmaceutical industry. The presence of key market players, technological advancements, and substantial investments contribute to the region's dominance. Additionally, favorable government initiatives and collaborations between academia, industry, and research institutions further drive the growth of AI in drug discovery in North America.
Asia Pacific is expected to be the fastest growing region in the global AI in Drug Discovery market. The Asia Pacific region is characterized by a rising population, increasing prevalence of chronic diseases, and a growing demand for innovative therapies. The region also boasts a strong base of skilled professionals and is investing heavily in AI research and development. Factors such as government support, favorable regulations, and increasing investments in healthcare infrastructure contribute to the rapid growth of AI in drug discovery in the Asia Pacific region.
Global AI in Drug Discovery Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
AI in Drug Discovery Market Dynamics
AI in Drug Discovery Market Drivers
Rise in incidence of chronic diseases propels need for AI in drug discovery
- Around the world, the prevalence of chronic diseases is rising quickly. The Centres for Disease Control and Prevention (CDC) estimate that six out of ten persons in the United States have a chronic illness. The CDC also emphasises that chronic illnesses like diabetes and heart disease are the main killers in the United States. These figures highlight the rising incidence of chronic diseases and the necessity of reducing the death rate brought on by these illnesses. Deriving insights into the identification of medications to treat and lessen the severity of various chronic diseases may show to be a practical alternative using AI platforms utilised for drug research.
AI in Drug Discovery Market Restraints
High cost associated with technology and technical limitations
- The healthcare industry currently faces a number of difficult problems, such as rising medicine and therapy costs, and society needs specific, significant improvements in this area. Since this data are utilised for the following training that is given to the system, the success of AI as a whole hinges on their availability. For a business, accessing data from different database providers may result in additional expenses. Clinical trials take six to seven years to complete and include a substantial monetary investment in order to determine the safety and effectiveness of a medicinal product in people for a specific disease condition. Only one out of every ten compounds that undergo these trials, however, receive successful clearance, which represents a significant loss for the industry.
Request Free Customization of this report to help us to meet your business objectives.
AI in Drug Discovery Market Competitive Landscape
The competitive landscape for the global artificial intelligence (AI) in drug discovery industry gives information by competitor. Included information includes a company overview, financials, revenue generated, market potential, R&D investment, new market initiatives, production sites, and facilities, as well as company strengths and weaknesses. It also includes information on product launches, product approval pipelines, product patents, product width and breath, application dominance, and the technology lifeline curve. The company's focus on the global Artificial Intelligence (AI) in drug development market is the only informational item discussed above.
AI in Drug Discovery Market Top Player’s Company Profiles
- Google LLC (US)
- Insilico Medicine (US)
- BenevolentAI Ltd (UK)
- Exscientia Ltd (UK)
- Atomwise Inc (US)
- Berg LLC (US)
- XtalPi Inc (China)
- Numerate Inc (US)
- Cyclica Inc (Canada)
- Envisagenics Inc (US)
- BioXcel Therapeutics Inc (US)
- Recursion Pharmaceuticals Inc (US)
- Atomwise Inc (US)
- Healx Ltd (UK)
- Cloud Pharmaceuticals Inc (US)
- TwoXAR Incorporated (US)
- Cerebras Systems Inc (US)
AI in Drug Discovery Market Recent Developments
- In May 2022, AstraZeneca has chosen an additional innovative target for Idiopathic Pulmonary Fibrosis (IPF) for its medication development portfolio, according to Benevolent AI, a top clinical-stage AI-enabled drug discovery business. This decision has resulted in a milestone payment to Benevolent AI. This is the third new target discovered through the cooperation that has been validated and chosen for portfolio entry by AstraZeneca. It was discovered utilizing the Benevolent Platform across two disease areas, IPF and chronic kidney disease.
- In March 2022, Clara Holoscan MGX was introduced by NVIDIA Corporation to create and implement real-time AI applications. In order to speed up innovation in the medical device sector, Clara Holoscan MGX enhances the Clara Holoscan platform by offering an all-inclusive, medical-grade reference architecture as well as ongoing software support. This will aid the business in achieving superior AI performance in the medical field for procedures, diagnostics, and drug development.
AI in Drug Discovery Key Market Trends
- The global AI in drug discovery market is characterized by several key market trends that are shaping the industry's landscape. Firstly, there is an increasing adoption of AI technologies as pharmaceutical companies recognize their potential in analyzing complex biological and chemical data. By leveraging AI capabilities, drug discovery processes are becoming more efficient and successful. Collaborations and partnerships are on the rise in AI in drug discovery market. Pharmaceutical companies, technology firms, and academic institutions are joining forces to combine expertise and resources. These collaborations accelerate innovation and knowledge sharing, leading to advancements in AI-driven drug discovery. Overall, these key market trends highlight the transformative impact of AI in drug discovery. By enhancing efficiency, precision, and personalized medicine approaches, AI technologies are shaping the future of pharmaceutical research and development.
AI in Drug Discovery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global AI in drug discovery market analysis, the market is revolutionizing the pharmaceutical industry by combining artificial intelligence and machine learning with traditional research and development processes. It leverages computational algorithms and data analytics to analyze vast amounts of biological and chemical data, accelerating the discovery and development of new drugs. AI in drug discovery enables researchers to identify drug targets, design molecules, predict properties, and assess safety and efficacy. It handles complex biological data and uncovers patterns and correlations that lead to the discovery of new drug targets. The market is driven by the demand for innovative drugs, availability of big data, and advancements in AI technology. However, challenges such as ethics, data privacy, regulatory compliance, and collaboration between experts need to be addressed. Implementing AI in drug discovery has the potential to expedite the process, develop personalized therapies, and positively impact patient outcomes. The market growth and investment indicate its transformative potential in reshaping the future of medicine.
| Report Metric | Details |
|---|---|
| Market size value in Drug | USD 1,101.6 million |
| Market size value in 2031 | USD 11,362.37 million |
| Growth Rate | 29.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on AI in Drug Discovery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on AI in Drug Discovery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the AI in Drug Discovery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the AI in Drug Discovery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the AI in Drug Discovery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the AI in Drug Discovery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
