Artificial Intelligence in Drug Discovery Market Size is Expected to Reach USD 8.9 Billion at 24.9% CAGR by 2030 | MRFR
Research Reports
May 10, 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
Market Research Future Insights
According to MRFR analysis, 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 Artificial Intelligence (AI) in Drug Discovery Market refers to the use of AI-based technologies and tools in the pharmaceutical industry for accelerating the drug discovery and development process. The market includes various AI applications such as machine learning, deep learning, natural language processing, and computer vision, which are used to analyze large datasets and generate insights for identifying potential drug targets, predicting drug efficacy and toxicity, optimizing drug candidates, and designing clinical trials.
The AI in Drug Discovery market is driven by several factors, including the need for faster and cost-effective drug discovery and development, the growing availability of large-scale data sets, and advances in computing power and data analytics.
The COVID-19 pandemic had a significant impact on the Artificial Intelligence (AI) in Drug Discovery Market. One of the major impacts of the pandemic on the AI in Drug Discovery market has been the acceleration of research and development activities. With the urgent need for effective treatments and vaccines, there has been a significant increase in the use of AI-based tools and technologies to accelerate drug discovery processes.
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Market Segmentation
The Artificial Intelligence in Drug Discovery has been segmented into technology, application and end user.
Based on the technology, the market has been segmented into machine learning, deep learning and reinforcement.
Based on the application, the market has been segmented into immune-oncology, cardiovascular diseases and metabolic diseases.
Based on the end user, the market has been segmented into pharmaceutical and biotechnology companies.
Key Players
Some of the key market players are:
Microsoft Corporation
IBM Corporation
Atomwise, Inc.
Deep Genomics
Cloud Pharmaceuticals, Inc.
Insilico Medicine
BenevolentAI
Exscientia
Cyclica
Regional Analysis
The largest region of the Artificial Intelligence (AI) in Drug Discovery Market is North America. This is primarily due to the presence of a large number of pharmaceutical companies, biotechnology companies, and research organizations in the region, along with a highly developed healthcare infrastructure and advanced technological capabilities.
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Furthermore, North America has a strong focus on innovation and research and development, which has driven the adoption of AI-based technologies in drug discovery. This has led to the development of several AI-based drug discovery platforms and solutions by companies in the region.
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Contact: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
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