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 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.