AI Drug Discovery Market Size, Top Players, Demands, Overview, Component, Market Revenue and Industry Forecast by 2030
Research Reports
Apr 13, 2023
Artificial Intelligence in Drug Discovery Market Research Report, By Product Type (Software, Services), Molecule Type (Large Molecule, Small Molecule), Technology (Machine Learning, Deep Learning and others), Indication (Immune-Oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases and others), Application (Target Identification, Candidate Screening, De novo Drug Designing, Drug Optimization and Repurposing and Preclinical Testing) – Forecast till 2030
Artificial Intelligence in Drug Discovery Market is expected to hold a value of about USD 8.9 Billion by 2030, and it is projected to register a CAGR of 24.9% from 2022 to 2030.
The AI drug discovery market refers to the use of artificial intelligence (AI) technologies and machine learning algorithms to facilitate the discovery and development of new drugs. AI is used to analyze large amounts of data and generate insights that can be used to guide drug development, from identifying potential drug targets to predicting the efficacy and toxicity of new compounds.
The AI drug discovery market is expected to grow rapidly in the coming years, driven by increasing demand for more effective and efficient drug development processes.
Key Players
The key players in the AI drug discovery market include IBM, Microsoft, Google, NVIDIA, Atomwise, Insilico Medicine, BenevolentAI, and Recursion Pharmaceuticals. These companies are developing AI platforms and tools that can be used to analyze biological data, simulate drug interactions, and identify potential drug candidates.
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Market Segmentation
The AI drug discovery market can be segmented based on the technology, application, end-user, and region. Here is a brief overview of each segment:
Based on Technology: The AI drug discovery market can be segmented into machine learning, deep learning, and other AI technologies. The machine learning segment is expected to hold the largest market share due to its ability to analyze vast amounts of data and generate insights that can be used to guide drug development.
Based on Application: The AI drug discovery market can be segmented into target identification, lead identification and optimization, toxicity prediction, drug repurposing, and others. The lead identification and optimization segment is expected to hold the largest market share due to the increasing demand for more efficient drug development processes.
Based on End-User: The AI drug discovery market can be segmented into pharmaceutical companies, biotechnology companies, research organizations, and others. The pharmaceutical companies segment is expected to hold the largest market share due to the increasing adoption of AI technologies in drug development.
Based on Region: The AI drug discovery market can be segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is expected to hold the largest market share due to the high adoption of AI technologies and well-established healthcare infrastructure.
Overall, the segmentation of the AI drug discovery market helps in understanding the market dynamics and targeting specific audiences based on their needs and preferences.
Regional Analysis
The AI drug discovery market is a global market with significant growth potential across various regions. Here’s a brief overview of the regional analysis of the AI drug discovery market:
North America: North America is the leading market for AI drug discovery, primarily driven by the high adoption of AI technologies and well-established healthcare infrastructure. The US is a major contributor to the growth of the AI drug discovery market in North America due to the presence of several prominent AI drug discovery companies and research organizations.
Europe: Europe is expected to witness significant growth in the AI drug discovery market due to increasing investments in drug development and the presence of several leading pharmaceutical companies in the region. Countries such as the UK, Germany, and France are leading contributors to the growth of the AI drug discovery market in Europe.
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Asia-Pacific: Asia-Pacific is expected to be the fastest-growing market for AI drug discovery, driven by increasing investments in research and development, a large patient population, and rising government initiatives to support drug discovery. China, Japan, and India are leading contributors to the growth of the AI drug discovery market in the Asia-Pacific region.
Middle East & Africa: The Middle East & Africa region is expected to witness moderate growth in the AI drug discovery market due to increasing healthcare infrastructure development, growing demand for personalized medicine, and increasing investments in drug discovery research.
Latin America: Latin America is expected to witness significant growth in the AI drug discovery market due to the increasing prevalence of chronic diseases and growing investments in drug development. Brazil and Mexico are leading contributors to the growth of the AI drug discovery market in Latin America.Top of FormTop of Form
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