Artificial Intelligence in Drug Discovery Market Size & Growth Forecast to 2029

Artificial Intelligence in Drug Discovery Market by Process (Target, Lead), Use Case (Design & Optimisation: Vaccine, Antibody; Disease understanding, PK/PD), Therapy (Cancer, CNS, CVS), Tool (ML:DL (CNN, GAN)), End User & Region - Global Forecast to 2029
The report "Artificial Intelligence in Drug Discovery Market by Process (Target, Lead), Use Case (Design & Optimisation: Vaccine, Antibody; Disease understanding, PK/PD), Therapy (Cancer, CNS, CVS), Tool (ML:DL (CNN, GAN)), End User & Region - Global Forecast to 2029 ", is expected to reach USD 6.89 billion by 2029 from USD 1.86 billion in 2024, at a CAGR of 29.9 % during 2024-2029.

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* 433 Market Data Tables
* 71 Figures
* 477 Pages and in-depth TOC on "AI in Drug Discovery Market - Global Forecast to 2029"

Some of the prominent key players are:

* NVIDIA Corporation (US),
* Microsoft Corporation (US),
* Google (US),
* Exscientia (UK),
* Schrodinger (US),
* Atomwise, Inc. (US),
* BenevolentAI (UK),
* BERG LLC (US), and many more......

Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the AI in Drug Discovery Market.

* Based on player type, the artificial intelligence (AI) in drug discovery market is segmented into end-to-end solutions providers, niche/point solutions providers, AI technology providers, and business process service providers.
* Based on AI tools, the artificial intelligence (AI) in drug discovery market is segmented into machine learning, natural language processing (NLP), context-aware processing and computing, computer vision, and image analysis (including optical character recognition). The machine learning segment accounted for the largest share and is expected to grow at the fastest rate during the forecast period.
* Based on end-user, the artificial intelligence (AI) in drug discovery market is segmented into pharmaceutical & biotechnology companies, contract research organizations (CROs), and research centers, academic institutes, & government organizations.
* In 2023, North America dominated the the global AI in drug discovery market and is poised to maintain this leadership during the forecast period. The US FDA's proactive stance on approving drug candidates discovered using AI and the advanced IT infrastructure of the pharma & biotech sector are driving the growth of the market.

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The major factors driving the market growth of artificial intelligence (AI) in drug discovery market include the increasing need to reduce the time and cost of drug discovery and development, growing pipeline of oncology indication. AI aids in predicting the toxicity of anti-cancer drugs by using machine learning models that combine information about chemical structures and gene expression. GAN tools enable the exploration of novel chemical spaces, leading to the discovery of unique compounds. Moreover, the emergence of precision medicine, initiatives for research on rare diseases and orphan drugs and integration of multi-omics data also assist in propelling the artificial intelligence (AI) in drug discovery market. Limited availability of data sets could potentially pose a challenge to the market landscape.

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