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Global Artificial Intelligence (AI) in Drug Discovery Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Feb 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Artificial Intelligence (AI) in Drug Discovery Market, By Offering (Software, Services), Technology (Machine Learning, Other Technologies), Drug Type (Small Molecule, Large Molecules), Application (Immuno-Oncology, Neurodegenerative Diseases, Cardiovascular Disease, Metabolic Diseases, Other Applications), End-User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Research Centres and Academic and Government Institutes) – Industry Trends and Forecast to 2029

Artificial Intelligence (AI) in Drug Discovery Market

Market Analysis and Size

Artificial Intelligence (AI) is described as a machine that uses advanced technologies to execute activities related to the human mind. Medicine discovery research's main goal is to find drugs that can help in the prevention or treatment of specific diseases. The challenges of examining, gathering, and applying data to solve challenging medical problems in the pharmaceutical sector fuelled the demand for artificial intelligence (AI) in drug discovery market.

  • Data Bridge Market Research analyses that the artificial intelligence (AI) in drug discovery market is expected to reach the value of USD 7,818.93 million by 2029, at a CAGR of 41.0% during the forecast period. Artificial intelligence's expanded applications in a variety of areas of medicine discovery, including polypharmacology, chemical synthesis, drug screening, drug design, and drug repurposing, are expected to significantly boost market growth.

Market Definition

Sales of artificial intelligence (AI) for drug discovery and related services make up the artificial intelligence (AI) in drug discovery market. Artificial Intelligence (AI) for drug discovery is a technology that use machines to simulate human intelligence in order to solve complicated challenges in the drug development procedure. In the pharmaceutical sector, it aids in the discovery of novel compounds, therapeutic target identification, and development of customized medications.

Artificial Intelligence (AI) in Drug Discovery Market Dynamics

Drivers

  • Strategic collaborations and partnerships

The increasing number of cross-industry collaborations and partnerships will act as major driver influencing the market’s growth rate.

  • Reduction in total time involved in drug discovery process

The increase in demand for decreasing overall time taken for the drug discovery process will increase the demand for artificial intelligence (AI) in drug discovery and further propel the market’s growth rate. Animal models typically take three to five years to identify and improve compounds before they are tested in humans, whereas AI-based start-ups can identify and design new medications in a matter of days or months.

Furthermore, surging healthcare spending capacity and advancement in healthcare infrastructure are the major drivers that will enhance the growth of market. The surge in the utilization of artificial intelligence (AI) to efficiently study the drug activity will accelerate the demand for artificial intelligence (AI) in drug discovery market. Additionally, reduction in cost of drug discovery will act as major driver influencing the artificial intelligence (AI) in drug discovery market’s growth rate. Another significant factor resulting in the expansion of market is the advancement of technology. Rapid urbanisation, and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of artificial intelligence (AI) in drug discovery market.

Opportunities

  • Rise in the investment for R&D

Moreover, the rise in the research and development activities and increasing adoption of cloud-based services and applications will provide beneficial opportunities for the artificial intelligence (AI) in drug discovery market growth. The increasing demand from emerging markets and expansion of biotechnology industries will further expand the artificial intelligence (AI) in drug discovery market’s growth rate in the future.

Restraints/Challenges

On the other hand, low quality and inconsistent available data will obstruct the market growth. Also, high cost associated with technology and technical limitations will challenge the artificial intelligence (AI) in drug discovery market. However, the dearth of skilled professionals and less awareness will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This artificial intelligence (AI) in drug discovery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the artificial intelligence (AI) in drug discovery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Artificial Intelligence (AI) in Drug Discovery Market

The COVID-19 outbreak had a beneficial impact on the expansion of artificial intelligence in drug discovery industry due to its widespread use by various organization for the identification as well as screening of existing medicines used in the treatment of COVID-19. Artificial intelligence (AI) has been shown to be useful in detecting active chemicals for the prevention of SARS-CoV, HIV, SARS-CoV-2, influenza virus, and others. During the pandemic, economies all over the world relied on artificial intelligence-based medication discovery rather than traditional vaccine detection processes, which take years to create and are equally expensive, contributing to the growth of artificial intelligence (AI) in drug discovery market.

Recent Development

  • In July 2021, Chief.AI, the machine learning operation platform had announced the launch of pay-as-you-go AI platform for drug discovery. This platform enables SMEs to gain access to cutting-edge technologies at a reasonable cost in order to reduce the hit-or-miss nature of drug discovery and identify breakthrough therapeutics with greater speed and precision.

Global Artificial Intelligence (AI) in Drug Discovery Market Scope

The artificial intelligence (AI) in drug discovery market is segmented on the basis of offering, technology, drug type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offering

  • Software
  • Services

Based on offering, artificial intelligence (AI) in drug discovery market is segmented into software and services.

Technology

  • Machine Learning
  • Other Technologies

On the basis of technology, artificial intelligence (AI) in drug discovery market is segmented into machine learning and other technologies. Machine learning has been further segmented into deep learning, supervised learning, reinforcement learning, unsupervised learning and other machine learning technologies.

Drug Type

  • Small Molecule
  • Large Molecules

Based on drug type, artificial intelligence (AI) in drug discovery market is segmented into small molecule and large molecules.

Application

  • Immuno-Oncology
  • Neurodegenerative Diseases
  • Cardiovascular Disease
  • Metabolic Diseases
  • Other Applications

On the basis of application, artificial intelligence (AI) in drug discovery market is segmented into immuno-oncology, neurodegenerative diseases, cardiovascular disease, metabolic diseases and other applications.

End-User

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

Artificial intelligence (AI) in drug discovery market has also been segmented based on the end user into pharmaceutical and biotechnology companies, contract research organizations, research centres and academic and government institutes.

Artificial Intelligence (AI) in Drug Discovery Market Regional Analysis/Insights

The artificial intelligence (AI) in drug discovery market is analysed and market size insights and trends are provided by country, offering, technology, drug type, application and end user as referenced above.

The countries covered in the 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.

North America dominates the artificial intelligence (AI) in drug discovery market because of the increasing investment in R&D and adoption of artificial intelligence (AI) technology in medicine discovery and development in this region. Additionally, strong presence of artificial intelligence (AI) technology providers such as IBM, Google, Microsoft and others will further propel the market’s growth rate in this region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the surging level of investment for research and development activities in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.    

Healthcare Infrastructure growth Installed base and New Technology Penetration

The artificial intelligence (AI) in drug discovery market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for artificial intelligence (AI) in drug discovery market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the artificial intelligence (AI) in drug discovery market. The data is available for historic period 2010-2020.

Competitive Landscape and Artificial Intelligence (AI) in Drug Discovery Market Share Analysis

The artificial intelligence (AI) in drug discovery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to artificial intelligence (AI) in drug discovery market.

Some of the major players operating in the artificial intelligence (AI) in drug discovery market are Exscientia plc, Microsoft, NVIDIA Corporation, IBM, Cyclica, Atomwise, Inc., DEEP GENOMICS, Cloud Pharmaceuticals, Inc., Insilico Medicine, BenevolentAI Ltd., Aria Pharmaceuticals, Inc., NuMedii, Inc., Envisagenics.,Owkin Inc., XtalPi Inc., BERG LLC, Euretos, BioAge Labs, Inc., Biosymetrics, and Verge Genomics, among others.

Research Methodology : Global Artificial Intelligence (AI) in Drug Discovery Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available : Global Artificial Intelligence (AI) in Drug Discovery Market

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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