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Artificial Intelligence in Drug Discovery Market worth $5.81 billion by 2030, growing at a CAGR of 27.10% - Exclusive Report by 360iResearch
Artificial Intelligence in Drug Discovery Market | 360iResearch
The Global Artificial Intelligence in Drug Discovery Market to grow from USD 1.08 billion in 2023 to USD 5.81 billion by 2030, at a CAGR of 27.10%.
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Artificial Intelligence in drug discovery refers to the application of machine learning algorithms and AI systems in the process of discovering, designing, and optimizing new drug compounds. These AI models play a pivotal role in streamlining the traditionally complex and time-consuming drug discovery process, thus facilitating advancements in the field of medicine. The market growth is propelled by the growing burden of chronic diseases worldwide and the rising adoption of AI across biopharmaceutical companies for heightened precision, speed, and effectiveness in drug discovery. Moreover, the increasing need to manage the large data generated during preclinical studies drives market growth. The need for more skilled AI professionals in healthcare and the high costs associated with implementing AI is influencing growth limitation. The limited availability of data sets is a pivotal challenge curtailing the growth of AI in drug discovery. The opportunities are poised in fields related to novel drug discovery mechanisms and personalized medicine. Technological advancement in the burgeoning areas of AI research for drug development creates a potentiality for enhanced drug discovery, disease understanding, and patient-specific treatments.
The U.S. stands at the forefront of integrating AI into drug discoveries, fuelled by an active start-up environment and robust governmental funding. Canada echoes this dedication with considerable investment in AI-driven discovery platforms. European countries, such as the UK, France, and Germany, are leveraging AI and data science to revolutionize drug discovery procedures, attributed to strategic collaboration between academic institutions and the pharmaceutical industry. With China, Japan, and India at the helm, Asia-Pacific offers compelling dynamics. China's massive AI investment, paired with Japan's excellence in pharmaceutical research, is fostering the adoption of AI in drug discovery. In India, governmental support and an expanding IT sector are moving towards AI in drug discoveries. The U.S., China, and EU lead in patent claims for AI drug discoveries, representing consistent innovation in their pharmaceutical industries.
Market Segmentation & Coverage:
This research report categorizes the Artificial Intelligence in Drug Discovery Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Offering, market is studied across Services and Software. The Services commanded largest market share of 55.04% in 2023, followed by Software.
Based on Technology, market is studied across Context-Aware Processing, Machine Learning, and Natural Language Processing. The Machine Learning is projected to witness significant market share during forecast period.
Based on Process, market is studied across Candidate Selection & Validation, Hit Identification & Prioritization, Hit-to-lead Identification/ Lead generation, Lead Optimization, Target Identification & Selection, and Target Validation. The Target Identification & Selection is projected to witness significant market share during forecast period.
Based on Application, market is studied across Biologics Design & Optimization, Disease Identification & Assessment, Safety, Toxicity, & Compliance Assessment, Small Molecule Design & Optimization, and Vaccine Design & Optimization. The Small Molecule Design & Optimization is projected to witness significant market share during forecast period.
Based on Therapeutic Area, market is studied across Cardiovascular Disease, Immuno-Oncology, Metabolic Diseases, and Neurodegenerative Diseases. The Immuno-Oncology commanded largest market share of 28.77% in 2023, followed by Cardiovascular Disease.
Based on End User, market is studied across Contract Research Organizations, Pharmaceutical & Biotechnology Companies, and Research Centers and Academic & Government Institutes. The Pharmaceutical & Biotechnology Companies commanded largest market share of 58.43% in 2023, followed by Contract Research Organizations.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 40.24% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Artificial Intelligence in Drug Discovery Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Artificial Intelligence in Drug Discovery Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Artificial Intelligence in Drug Discovery Market, highlighting leading vendors and their innovative profiles. These include Aria Pharmaceuticals, Inc., Atomwise, Inc., BenevolentAI Limited, BenevolentAI SA, BioSymetrics Inc., BPGbio Inc., Butterfly Network, Inc., Cloud Pharmaceuticals, Inc., Cyclica Inc., Deargen Inc., Deep Genomics Incorporated, Envisagenics, Inc., Euretos Services BV, Exscientia PLC, Insilico Medicine, Insitro, Inc., International Business Machines Corporation, InveniAI LLC, Microsoft Corporation, Novartis AG, NVIDIA Corporation, Oracle Corporation, Owkin, Inc., Verge Genomics Inc., and XtalPi Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Artificial Intelligence in Drug Discovery Market, by Offering
7. Artificial Intelligence in Drug Discovery Market, by Technology
8. Artificial Intelligence in Drug Discovery Market, by Process
9. Artificial Intelligence in Drug Discovery Market, by Application
10. Artificial Intelligence in Drug Discovery Market, by Therapeutic Area
11. Artificial Intelligence in Drug Discovery Market, by End User
12. Americas Artificial Intelligence in Drug Discovery Market
13. Asia-Pacific Artificial Intelligence in Drug Discovery Market
14. Europe, Middle East & Africa Artificial Intelligence in Drug Discovery Market
15. Competitive Landscape
16. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Artificial Intelligence in Drug Discovery Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Artificial Intelligence in Drug Discovery Market?
3. What is the competitive strategic window for opportunities in the Artificial Intelligence in Drug Discovery Market?
4. What are the technology trends and regulatory frameworks in the Artificial Intelligence in Drug Discovery Market?
5. What is the market share of the leading vendors in the Artificial Intelligence in Drug Discovery Market?
6. What modes and strategic moves are considered suitable for entering the Artificial Intelligence in Drug Discovery Market?
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