What is the global market size of AI in Drug Discovery Market?

AI in Drug Discovery Market size was valued at USD 850 million in 2021 and is poised to grow from USD 1,101.6 million in 2022 to USD 4,982.8 million by 2030, growing at a CAGR of 29.6% during the forecast period (2023-2030).

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 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.

AI in Drug Discovery Market Report Snapshots

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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 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. 'IBM Corporation (US)', 'Google LLC (US)', 'Microsoft Corporation (US)', 'NVIDIA Corporation (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)'

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.

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.

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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

AI in Drug Discovery Market Regional Insights

AI in Drug Discovery Market Report Snapshots

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