The global artificial intelligence (AI) in drug discovery market represents a paradigm shift in pharmaceutical research and development. In recent years, the pharmaceutical industry has witnessed significant growth in data digitalization. The escalating prevalence of chronic diseases, particularly cardiovascular disorders and diabetes, has heightened the demand for artificial intelligence (AI) in drug discovery. This trend is anticipated to swiftly propel the global AI drug discovery market, addressing the pressing need for innovative solutions in pharmaceutical research and development.
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Data Bridge Market Research analyses that the Global Artificial Intelligence (AI) in Drug Discovery Market which was USD 885.32 million in 2022, is expected to reach USD 13,998.71 million by 2030, and is expected to undergo a CAGR of 5.3% during the forecast period 2023 to 2030. The use of artificial intelligence increases due to diverse sectors of the pharmaceutical industry, such as drug discovery and development, improving pharmaceutical productivity, drug repurposing, and clinical trials among others.
Key Findings of the Study
An increase in the incidence of chronic diseases is expected to drive the market's growth rate
The escalating incidence of chronic diseases globally, as evidenced by CDC reports stating that six in ten U.S. adults suffer from chronic conditions, drives the demand for innovative solutions. Chronic diseases such as diabetes and heart disease are leading causes of mortality. Artificial intelligence in drug discovery presents a promising avenue to address these challenges. By leveraging AI platforms, valuable insights can be derived to mitigate the severity and develop treatments for chronic diseases. This growing need for effective solutions positions the AI in drug discovery market for substantial growth in the forecast period.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Novel Drug Candidates, Drug Optimization and Repurposing Preclinical Testing and Approval, Drug Monitoring, Finding New Diseases Associated Targets and Pathways, Understanding Disease Mechanisms, Aggregating and Synthesizing Information, Formation and Qualification of Hypotheses, De Novo Drug Design, Finding Drug Targets of an Old Drug, and Others), Technology (Machine Learning, Deep Learning, Natural Language Processing, and Others), Drug Type (Small Molecule and Large Molecule), Offering (Software and Services), Indication (Immuno-Oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases, and Others), End Use (Contract Research Organizations (CROs), Pharmaceutical and Biotechnology Companies, Research Centers and Academic Institutes, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, rest of Europe, China, Japan, India, South Korea, Singapore, Thailand, Malaysia, Australia and New Zealand, Philippines, Indonesia, rest of Asia-Pacific, U.A.E, Israel, South Africa, Saudi Arabia, Egypt, rest of Middle East and Africa, Brazil, Argentina and rest of South America
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Market Players Covered
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NVIDIA Corporation (U.S.), IBM Corp. (U.S.), Atomwise Inc. (U.S.), Microsoft (U.S.), Benevolent AI (U.K.), Aria Pharmaceuticals, Inc. (U.S.), DEEP GENOMICS (Canada), Exscientia (U.K.), Cloud (U.S.), Insilico Medicine (U.S.), Cyclica (Canada), NuMedii, Inc. (U.S.), Envisagenics (U.S.), Owkin Inc. (U.S.), BERG LLC (U.S.), Schrödinger, Inc. (U.S.), XtalPi Inc. (China) and BIOAGE Inc. (Canada)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The artificial intelligence (AI) in drug discovery market is segmented on the basis of application, technology, offering, indication and end user
- On the basis of application, the market is segmented into novel drug candidates, drug optimisation and repurposing preclinical testing and approval, drug monitoring, finding new diseases associated targets and pathways, understanding disease mechanisms, aggregating and synthesizing information, formation, and qualification of hypotheses, de novo drug design, finding drug targets of an old drug, and others. The novel drug candidates segment is expected to dominate the market with a market share of 26.25%
- on the basis of technology, the market is segmented into machine learning (ml), deep learning (DL), natural language processing (NLP), and others. Machine learning segment is expected to dominate the market with a market share of 49.30% because this learning aids in consistently managing data, decreases the chances of errors, saves time in the drug discovery process, and diminishes the workload for end users
The machine learning segment of the technology segment is anticipated to dominate the artificial intelligence (AI) in the drug discovery market
The machine learning segment is expected to dominate the market with a market share of 49.30% because this learning aids in consistently managing data, decreases the chances of errors, saves time in the drug discovery process, and diminishes the workload for end users. These are some of the major factors which increase the demand of machine learning technology and propel the market growth
- On the basis of drug type, the market is segmented into small molecule and large molecule. The small molecule segment is expected to dominate the market with a market share of 77.66% because it has some different advantages as therapeutics such as most have oral route of administration and can pass easily through cell membranes to reach intracellular targets
- On the basis of offering, the market is segmented into software and services. The software segment is expected to dominate the market with a market share of 65.73% because it provides several advantages such as improved or novel chemistry, better success rates, and quicker and cheaper and quicker discovery processes
The software segment is projected to hold the largest share of the offering segment in the artificial intelligence (AI) in drug discovery market
The software segment is expected to dominate the market with a market share of 65.73% because it provides several advantages such as improved or novel chemistry, better success rates, and quicker and cheaper and quicker discovery processes. This technology can address many constraints and challenges in traditional R&D.
- On the basis of indication, the market is segmented into immuno-oncology, neurodegenerative diseases, cardiovascular diseases, metabolic diseases, and others. Immuno-oncology segment is further segmented into prostate cancer, breast cancer, brain cancer, lung cancer, pancreatic cancer, colorectal cancer, leukemia, and others. The immuno-oncology segment is expected to dominate the market with a market share of 39.10% because artificial intelligence can discover drugs for complex diseases and the prominence of market players in providing artificial intelligence-based platforms for immuno-oncology
- On the basis of end use, the market is segmented into pharmaceutical and biotechnology companies, CRO, research centers and academic institutes, and others. The CRO segment is expected to dominate the market with a market share of 43.90% due to their expertise, efficiency, and use of artificial intelligence, enhancing drug development processes
Major Players
Data Bridge Market Research recognizes the following companies as the major global artificial intelligence (AI) in drug discovery market players in global artificial intelligence (AI) in drug discovery Benevolent AI (U.K.), Aria Pharmaceuticals, Inc.(U.S.), Microsoft (U.S.), IBM (U.S.), NVIDIA Corporation (U.S.), Schrödinger (U.S.), Deep Genomics (Canada), Envisagenics (U.S.), Cloud Pharmaceuticals (U.S.)
Market Developments
- In January 2021 saw a collaboration between Nucleai and Debiopharm Pharma Company. The agreement allows Debiopharm Pharma to leverage Nucleai's AI platform for its oncology drug candidates, emphasizing the increasing role of AI in optimizing drug development processes, particularly in the field of biomarkers-based therapy
- In July 2021, Chief.AI launched a pay-as-you-go AI platform for drug discovery. This platform democratizes access to cutting-edge AI technologies, enabling small and medium enterprises to identify breakthrough therapeutics with precision and speed, addressing the challenges of the hit-or-miss nature of traditional drug discovery
- In September 2020, Atomwise secured USD 123 million in a round B financing led by Sanabil and B Capital Group Investments, among others. This substantial investment aims to extend Atomwise's market presence, initiate the company's drug discovery pipeline, and establish new partnerships with pharmaceutical companies, emphasizing the importance of AI in advancing drug discovery and development.
- In July 2020, IBM strategically acquired WDG Automation, enhancing its AI-infused automation capabilities for enterprises. This move bolsters IBM's position in providing comprehensive AI solutions, spanning from business processes to IT operations, thereby strengthening its overall portfolio
Regional Analysis
Geographically, the countries covered in the global artificial intelligence (AI) in drug discovery market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in global artificial intelligence (AI) in drug discovery market during the forecast period 2023-2030
North America dominates the artificial intelligence (AI) in drug discovery market, driven by the widespread adoption of AI in medical research and development. Substantial investments in RandD activities have further fueled market growth. The U.S., at the forefront of North America, plays a pivotal role with a robust presence of AI technology giants such as Microsoft, IBM, and Google. This concentration of key industry players positions the U.S. as a leader, contributing significantly to the regional expansion of the AI in drug discovery market.
Asia-Pacific is estimated to be the fastest-growing region in global artificial intelligence (AI) in drug discovery market in the forecast period 2023-2030
Asia-Pacific is expected to dominate the global artificial intelligence (AI) in drug discovery market from 2023 to 2030, driven by the region's increasing adoption of AI for disease understanding and drug discovery. Notably, collaborations such as Intuition Systems with Lantern Pharma for biomarker identification highlight India's role. Companies such as Sigtuple and Niramai contribute to healthcare improvement by identifying biomarkers and proteins, fostering faster drug discovery. These factors position the Asia-Pacific region for significant market growth during the forecast period.
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