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Global AI for Drug Discovery Market Share is Likely to Grow at a CAGR Value of 45.10% by 2028

29-Jul-2022 | Facts and Factors

According to Facts and Factors, the global AI for Drug Discovery market size was worth USD 549.10 million in 2021 and is estimated to grow to USD 5,124.55 million by 2028, with a compound annual growth rate (CAGR) of approximately 45.10% over the forecast period. The report analyzes the AI for Drug Discovery market’s drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities for AI for Drug Discovery market.

Artificial intelligence (AI) for drug discovery employs machines to simulate human intelligence to solve complicated issues in the drug development process. It assists the pharmaceutical industry in identifying therapeutic targets, developing specialized medications, and finding novel compounds. The market's growth rate will be significantly impacted by the increase in cross-industry alliances and collaborations. Owing to the rise in demand for AI for Drug Discovery, the global AI for Drug Discovery market is estimated to grow at a CAGR of 45.10% during the forecast period.

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Browse the full “AI for Drug Discovery Market Size, Share, Growth Analysis Report By Offering (Software and Services), By Technology (Machine Learning, Deep Learning, Unsupervised Learning, Supervised Learning, Reinforcement Learning, Other Machine Learning Technologies and Other Technologies), By Application (Immuno-oncology, Neurodegenerative diseases, Cardiovascular diseases, Metabolic diseases and Other Applications), By EndUser (Pharmaceutical &Biotechnology Companies, Contract Research Organisations and Research Centers and Academic & Government Institutes), and By Region- Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/ai-for-drug-discovery-market

Artificial intelligence has been heavily utilized in healthcare, particularly when looking for new medications. It can recognize therapeutic targets and contributes significantly to the rapid identification, development, detection, and screening of small compounds. Due to the advantages of adopting these cutting-edge techniques over traditional procedures, the market is anticipated to rise exponentially throughout the forecast period. Artificial intelligence speeds up market expansion by cutting the time and money spent on medication discovery. Manufacturers in the artificial intelligence for drug discovery and development market should anticipate benefiting significantly from the rise in artificial intelligence awareness. However, the market's expansion is hampered by a lack of experienced individuals and data sets in the field of drug discovery.

Segmental Overview

The Global AI for Drug Discovery Market is segregated based on offering, technology, application, end-user, and region. Based on offering, the market is divided into Software and Services. Among these, the Services segment will dominate the market in 2021. Based on technology, the market is divided into Machine Learning, Deep Learning, Unsupervised Learning, Supervised Learning, Reinforcement Learning, Other Machine Learning Technologies and Other Technologies. Over the forecast period, the Deep Learning segment is expected to develop at the fastest rate in 2021.

Based on application, the market is divided into Immuno-oncology, Neurodegenerative diseases, Cardiovascular diseases, Metabolic diseases and Other Applications. Over the forecast period, the Neurodegenerative diseases segment is expected to develop at the fastest rate in 2021. Based on end-user, the market is divided into Pharmaceutical & biotechnology companies, contract research organizations, research centres, and academic & government institutes. Over the forecast period, the Pharmaceutical & Biotechnology segment is expected to develop fastest in 2021.

Regional Overview

North America is expected to dominate the Global AI for Drug Discovery Market in 2021. Since the beginning of AI technology, the US has been at the forefront. Major IT companies in the US have all teamed with prestigious schools to speed up medicine research, design, and repurposing. They are also using AI to research diseases and come to pertinent conclusions that can improve disease management. North America is home to several notable AI technology providers and prominent start-up businesses. Over the forecast period, the Asia Pacific regional market is expected to grow significantly in 2021. Asia-Pacific developing nations are embracing AI to comprehend ailments and facilitate the creation of new drugs. For example, intuition Systems, an AI business in India, has partnered with Lantern Pharma to identify biomarkers and find new drugs. Similar AI businesses like Niramai and Sigtuple focus on enhancing healthcare through quicker medication discovery and improved target protein and biomarker identification.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 549.10 Million

Projected Market Size in 2028

USD 5124.55 Million

CAGR Growth Rate

45.10% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Atomwise Inc. (U.S.), BenevolentAI (U.K.), NuMedii (U.S.), BERG LLC (U.S.), Cloud Pharmaceuticals (U.S.), Microsoft (U.S.), Insilico Medicine (U.S.), Cyclica (Canada), NVIDIA Corporation (U.S.), Google (U.S.), Exscientia (U.K.), Schrödinger (U.S.), Deep Genomics (Canada), IBM (U.S.), and Others

Key Segment

By Offering, Technology, Application, End User, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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Competitive Landscape

Key players functioning in the global AI for Drug Discovery market includeAtomwise, Inc. (US), BenevolentAI (UK), NuMedii (US), BERG LLC (US), Cloud Pharmaceuticals (US), Microsoft (US),  Insilico Medicine (US), Cyclica (Canada), NVIDIA Corporation (US), Google (US), Exscientia (UK), Schrödinger (US), Deep Genomics (Canada), IBM (US), BIOAGE (US), twoXAR (US), Owkin, Inc. (US), XtalPi (US), Valo Health (US), Envisagenics (US), Verge Genomics (US), Biovista (US), Standigm (South Korea), Evaxion Biotech (Denmark), Iktos (France), and BenchSci (Canada).

Recent developments:

  • In July 2021, the machine learning operating platform Chief AI announced the debut of a pay-as-you-go AI platform for drug discovery. This platform enables SMEs to acquire affordable access to advanced technology, reducing the hit-or-miss nature of drug development and identifying breakthrough treatments with increased speed and precision.
  • In February 2021, Exscientia (UK) and the University of Oxford partnered to explore Alzheimer's disease treatments.

Global AI for Drug Discovery market is segmented as follows:

By Offering

  • Software
  • Services

By Technology

  • Machine Learning
  • Deep Learning
  • Supervised Learning
  • Reinforcement Learning
  • Unsupervised Learning
  • Other Machine Learning Technologies
  • Other Technologies

By Application

  • Immuno-oncology
  • Neurodegenerative Diseases
  • Cardiovascular Diseases
  • Metabolic Diseases
  • Other Applications

By End User

  • Pharmaceutical & Biotechnology Companies
  • Contract Research Organizations
  • Research Centres and Academic & Government Institutes

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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