Artificial Intelligence in Drug Discovery Market Size, Share, Latest Trend, Key Player Review, Future Prospect and Forecast to 2032
Research Reports
Aug 18, 2023
Artificial Intelligence in Drug Discovery Market Research Report Information By Product and Service (Software and Services) by Molecule Type (Large Molecule and Small Molecule) by Technology (Machine Learning, Deep Learning, and Others) by Indication (Immuno-oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases, and Others) by Application (Target Identification, Candidate Screening, De novo Drug Designing, Drug Optimization, and Repurposing, and Preclinical Testing), by Region (North America, Europe, Asia-Pacific) – Forecast till 2032
According to MRFR analysis, the global Artificial Intelligence in Drug Discovery Market is expected to register a CAGR of 29.83 % from 2023 to 2032 and hold a value of over USD 5.94 billion by 2032.
AI in Drug Discovery was a rapidly growing field with significant potential. AI has shown promise in improving the drug discovery process by accelerating the identification and development of potential drug candidates. It can analyze large datasets, identify patterns, and predict molecular interactions more efficiently than traditional methods. Several factors are likely to contribute to the growth of the AI in Drug Discovery market. These include the increasing availability of large-scale biological and chemical datasets, advancements in machine learning algorithms, improvements in computational power, and collaborations between pharmaceutical companies and AI startups.
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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.
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 top market players are Microsoft Corporation, IBM Corporation, Google (A Subsidiary of Alphabet Inc.), Atomwise, Inc., Deep Genomics, Cloud Pharmaceuticals, Inc., Insilico Medicine, BenevolentAI, Exscientia, Cyclica, Bioage, Numerate, Numedii, Inc., Envisagenics, Twoxar, Incorporated, Owkin, Inc., Xtalpi, Inc., Verge Genomics, Berg LLC
Regional Analysis
North America is expected to dominate the AI in drug discovery market due to the presence of major pharmaceutical companies, well-established healthcare infrastructure, and strong government support. The United States, in particular, is a key player in this market, with several leading AI companies and research institutions focused on drug discovery. The region also benefits from collaborations between academia, industry, and government organizations, which foster innovation and drive market growth.
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Europe is another significant market for AI in drug discovery, with countries like the United Kingdom, Germany, and France at the forefront. The European pharmaceutical industry has shown a keen interest in adopting AI technologies to enhance drug discovery and development processes. The presence of leading academic and research institutions, along with supportive regulatory frameworks, contributes to the growth of the market in this region.
The Asia Pacific region is witnessing rapid growth in the AI in drug discovery market, driven by factors such as increasing investments in healthcare infrastructure, rising R&D activities, and a growing pharmaceutical industry. Countries like China, Japan, and India are actively investing in AI-based drug discovery initiatives and are becoming prominent players in the market.
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