Global AI in Drug Discovery market was valued at US$ 281 million in 2019 and is expected to reach US$ 1597.02 million by 2029, growing at a CAGR of 35.64% over the forecast period. The rising use of artificial intelligence (AI) systems aimed at reducing the overall cost of drug discovery and improving outcomes is expected to boost demand for these platforms in the pharmaceutical industry. Artificial intelligence for drug discovery is a technology that uses and adds value to various algorithms in drug discovery during decision-making processes. In recent years, the increasing need to reduce the cost of new drug development and production is expected to strengthen the market for artificial intelligence (AI) platforms in the field of drug discovery. The estimated novel drug discovery and production cost is USD 2.6 billion, according to industry journals. This is largely due to the small development research funnel that excludes much of the preclinical and phase 1 study candidate therapies. As a result, major players in the pharmaceutical industry has started the adoption of artificial intelligence for a quicker, more reliable, and cost-effective drug development.
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The detailed research study provides qualitative and quantitative analysis of AI in Drug Discovery market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- In the therapeutic area oncology segment will exhibit significant CAGR over the period. In the early detection of cancer, AI already plays a crucial role. In addition, as cancer treatments for each patient can differ, personalized medicine has proven to be an effective cancer treatment alternative. Oncologists are aided by artificial intelligence platforms designed to classify genetic mutations to design successful personalized patient care.
- Infectious diseases segment is also expected to expand over the period, large amounts of sample data is being needed by the AI platforms to begin identifying key trends and points. In infectious disease diagnostics and treatment design, the adoption of AI systems has begun to develop and is expected to experience robust growth in the coming years.
- North America dominated the market because of the growing adoption of artificial intelligence and the existence of a large number of market players.
- Over the forecast era, Asia Pacific is projected to emerge as the fastest-growing region in the sector. It is anticipated that the increasing adoption of new technologies in India and China for new drug production and an emphasis on improving pharmaceutical capability within countries would drive the market in this region.
- The major players operating in the market are Atomwise, Inc, BenevolentAI Ltd, BERG LLC, BIOAGE, Cloud Pharmaceuticals, Inc., DEEP GENOMICS, Envisagenics, EVAXION BIOTECH A/S, Exscientia, Google LLC, HACARUS INC, IBM Corp, Insilico Medicine, Microsoft, NuMedii, Inc., OWKIN, INC., twoXAR, Incorporated, VERGE genomics, XtalPi Inc., Cyclica and Other Market Participants.
AI in Drug Discovery Market:
By Drug Type
- Small Molecule
- Large Molecule
By Technology
- Deep Learning
- Machine Learning
- Others
By Application
- Target Identification and Validation
- Drugs Design and Redesign
- Preclinical Testing
- Others
By Organization Size
- Small and Medium Organizations
- Large Organizations
By Therapeutic Area
- Cardiovascular Disease
- Metabolic Disease
- Neurodegenerative Diseases
- Dermatological Diseases
- Infectious Diseases
- Oncology
- Others
By End Users
- Pharmaceutical Companies
- Research Centers and Laboratories
- Clinicians and Drug Developers
- Others
By Geography
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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