The global artificial intelligence in drug discovery market was valued at US$ 1,016.1 Mn in 2022 and is forecast to reach a value of US$ 3,547.4 Mn by 2030 at a CAGR of 5.7% between 2023 and 2030.
||Market Size in 2023:
||US$ 1,266.7 Mn
|Historical Data for:
||2018 to 2021
||2023 - 2030
|Forecast Period 2023 to 2030 CAGR:
||2030 Value Projection:
||US$ 3,547.4 Mn
The Artificial intelligence (AI) is the science and engineering of making intelligent machines, especially intelligent computer programs. The AI techniques are also applicable to drug discovery, drug development, drug repurposing, drug metabolism prediction, drug toxicity analysis, improving pharmaceutical productivity, clinical trials and almost all aspects of pharmaceutical sciences. All these techniques are collectively considered under AIDD (Artificial Intelligence in Drug Discovery).
Increasing technological advancements, product launches by market players, collaborations, research and development agreements and other inorganic growth strategies by market players are major factors expected to augment growth of the global artificial intelligence in drug discovery market over the forecast period.
For instance, on May 16 2023, Google Cloud, in Bio-IT World Conference announced two new AI-powered life sciences solutions to accelerate drug discovery and precision medicine for biotech companies, pharmaceutical firms, and public sector organizations. The Target and Lead Identification Suite helps researchers better identify the function of amino acids and predict the structure of proteins; and the Multiomics Suite accelerates the discovery and interpretation of genomic data, helping companies design precision treatments.
Key features of the study:
- This report provides in-depth analysis of the global artificial intelligence in drug discovery market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global artificial intelligence in drug discovery market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include IBM Corporation (Ibm Watson Health), Exscientia, GNS Healthcare, Alphabet, Inc. (DEEPMIND), Benevolent AI, Biosymetrics, Euretos, Berg LLC., Atomwise, Inc., among others.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global artificial intelligence in drug discovery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global artificial intelligence in drug discovery market.
- Global Artificial Intelligence in Drug Discovery Market, By Therapeutic Space:
- Neurodegenerative Diseases
- Cardiovascular Diseases
- Metabolic Diseases
- Infectious Diseases
- Global Artificial Intelligence in Drug Discovery Market, By Application:
- Drug Optimization & Repurposing
- Preclinical Testing
- Global Artificial Intelligence in Drug Discovery Market, By Geography:
- North America
- Latin America
- Asia Pacific
- Middle East
- Company Profiles:
- IBM Corporation (Ibm Watson Health)
- GNS Healthcare
- Alphabet, Inc. (DEEPMIND)
- Benevolent AI
- Berg LLC.
- Atomwise, Inc.