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).

Who are the key vendors in the Global AI in Drug Discovery Market?

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)'

What is the key driver of Global AI in Drug Discovery Market?

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.

What is the key market trend for Global AI in Drug Discovery Market?

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.

Which region accounted for the largest share in AI in Drug Discovery Market?

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.

AI In Drug Discovery Market Size, Share, Growth Analysis, By Component (Software, Services), By Technology (Machine Learning, Deep Learning), By Application (Target Identification, Molecule Screening), By Region - Industry Forecast 2025-2032

Report ID: SQMIG35J2061 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 59 | Figures: 75

AI in Drug Discovery Market News

In July 2024, Exscientia and Amazon Web technologies (AWS) announced an extended partnership with the goal to leverage AWS's AI and machine learning (ML) technologies in enhancing Exscientia's end-to-end drug discovery and automation platform.
In May 2024, the third iteration of Google DeepMind's AlphaFold AI-based model was launched, which was intended to refine disease targeting and drug discovery. This latest version allows researchers at DeepMind and Isomorphic Labs to map the behavior of all molecules, including human DNA.
In April 2024, the AI-based medicines discovery and development startup, Xaira Therapeutics, raised more than USD 1 million in a joint round of fundraising with ARCH Venture Partners and Foresite Labs. The company approaches historically challenging targets in medications using machine learning, creation algorithms, and therapeutic product development.

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Global AI in Drug Discovery Market size was valued at USD 1.80 billion in 2022 and is poised to grow from USD 2.34 billion in 2023 to USD 19.35 billion by 2031, growing at a CAGR of 30.2% during the forecast period (2024-2031).

The competitive landscape of AI in drug development comprises tech giants, biotechnology businesses, and well-established pharmaceutical corporations. To make contributions towards research in medication, the main corporates, Microsoft, Google Health, and IBM, are investing extensively in AI. Moreover, specialist AI-based businesses, such as Insilico Medicine and Atomwise, are doing great work to adapt AI for the discovery and design of medication. Collaborations, acquisitions, and strategic alliances are crucial to market development. 'IBM Corporation ', 'NVIDIA Corporation ', 'Microsoft Corporation ', 'Exscientia ', 'Atomwise, Inc. ', 'BenevolentAI ', 'Insilico Medicine ', 'Cyclica ', 'Schrödinger, Inc. ', 'Cloud Pharmaceuticals, Inc. ', 'BioSymetrics ', 'XtalPi Inc. ', 'Deep Genomics ', 'Numerate, Inc. ', 'Berg LLC ', 'OWKIN, Inc. ', 'TwoXAR, Inc. ', 'Verge Genomics ', 'Recursion Pharmaceuticals ', 'PathAI'

In terms of market expansion, the increasing investment in healthcare technology is one of the primary drivers for AI in drug discovery industry. To fasten the drug discovery process, businesses are making huge investments in researching and developing processes, particularly in the areas of artificial intelligence and machine learning. It enhances the development of potential drug candidates and reduces the time of clinical trials, hence making drugs faster and cheaper to develop.

AI Application in Preclinical and Clinical Research: This trend in drug research about the increased utilization of AI in preclinical and clinical trials is quite notable. Biomarkers for the course of disease are currently being identified through the help of AI models, while clinical trial designs are improved, and patient responses are predicted. AI reduces the risk of trial failures, accelerates testing, and helps identify the drug candidates that will lead to further development by improving the accuracy of the procedures involved in trials and enhancing patient enrollment.

Huge spending on healthcare technology and strategic collaborations between tech leaders and pharmaceutical firms have made North America lead the market with a 57.7% share in 2023 of AI in drug discovery. Innovation and the advance of AI-driven solutions are further facilitated by the region's best research institutes and a favorable regulatory framework. North American firms increasingly employ AI to optimize drug discovery operations and increase productivity, reduce development costs, and accelerate the launch of new therapies. Customized medicine is finally becoming a pressing need and the advancement of AI capabilities to solve challenges in drug development as well are two more factors that drive this trend to expand further.

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AI In Drug Discovery Market Size, Share, Growth Analysis, By Component (Software, Services), By Technology (Machine Learning, Deep Learning), By Application (Target Identification, Molecule Screening), By Region - Industry Forecast 2025-2032

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

Who are the key vendors in the AI in Drug Discovery Market?

What is the key driver of AI in Drug Discovery Market?

What is the key market trend for AI in Drug Discovery Market?

Which region accounted for the largest share in AI in Drug Discovery Market?

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