Artificial Intelligence in Drug Discovery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Artificial Intelligence in Drug Discovery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Artificial Intelligence in Drug Discovery Market

The global artificial intelligence in drug discovery market size was valued at USD 3.00 billion in 2022 and is projected to grow from USD 3.54 billion in 2023 to USD 7.94 billion by 2030, exhibiting a CAGR of 12.2% during the forecast period of 2023-2030.

COVID-19 has triggered the use of Artificial Intelligence in drug discovery, as the scientific world scrambles for vaccines and treatments for the virus. This urgency has led to increase in cooperation between tech companies and prescribed drugs, thus enhanced the AI algorithms for green drug discovery, which has in one way hindered the artificial intelligence in drug discovery market growth.

Artificial Intelligence in the Drug Discovery Market is driven by the aid of way of the want for quicker drug development, improvements in machines getting to, and the prices of traditional techniques. Increased biomedical facts and a name for personalized treatment further promote AI adoption.

Generative AI and gadget learning are revolutionizing the drug discovery procedure by permitting the layout of new drug molecules with preferred houses. AI algorithms can analyze sizable quantities of information to perceive patterns and trends, accelerating the identity of capacity drug candidates and expanding the artificial intelligence in drug discovery market share globally. Additionally, AI can, as should be expected, use protein systems that are critical for information on how tablets engage with their goals. This aggregate of AI and gadgets getting to know technology is appreciably rushing the drug discovery method and improving the probability of growing powerful new treatments.

Comprehensive Analysis of Artificial Intelligence in Drug Discovery Market

Artificial Intelligence in the Drug Discovery Market has been categorized by drug type into small molecules and massive molecules and imparted into software programs and services with the aid of technology into system learning, herbal language processing, and so on. with the assistance of utility into oncology, neurology, cardiology, and so on.; and with the help of quit- consumer into pharmaceutical and biotechnological groups, instructional and studies institutes, and others. Small molecules dominate the marketplace due to cost-effectiveness and abundant medical information, while the software phase leads to innovation. Machine learning is the crucial era riding efficiency, particularly in oncology, which is a blessing from elevated medical trials and investment. Pharmaceutical businesses lead the quit-user phase through strategic collaborations to integrate AI in drug discovery.

The North America region led the artificial intelligence in drug discovery market by benefitting a size of USD 2.08 billion in 2022 due to the robust presence of pharmaceutical groups and their strategic partnerships with firms imparting synthetic intelligence answers.

The leading players in Artificial Intelligence in the Drug Discovery market play a crucial role in shaping its growth trajectory and establishing industry standards. Key players such as Microsoft (U.S.), Schrödinger, Inc. (U.S.), Cresset (U.K.), IBM (U.S.), Atomwise Inc. (U.S.), Insilico Medicine (U.S.), Exscientia (U.K.), BenevolentAI (U.K.), Aria Pharmaceuticals, Inc. (U.S.), Integral BioSciences (U.S.), and Alphabet Inc. (U.S.) contribute to a competitive landscape that drives innovation and advancements in the market.

In November 2022, Cyclica presented a provide of USD 1.8 million from the Bill & Melinda Gates Foundation to utilize its artificial intelligence-pushed drug discovery platform for figuring out new non-hormonal contraceptives by harnessing various low-data biological objectives.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2017-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2017-2021

Growth Rate CAGR of 12.2% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Drug Type, Offering, Technology, Application, End-user, and Region

By Drug Type

Small Molecule

Large Molecule

By Offering

Software

Services

By Technology

Machine Learning

Natural Language Processing

Others

By Application

Endocrinology

Cardiology

Oncology

Neurology

Others

By End-user

Pharmaceutical & Biotechnological Companies

Academic & Research Institutes

Others

By Region

North America (By Drug Type, Offering, Technology, Application, End-user, and Country)

U.S.

Canada

Europe (By Drug Type, Offering, Technology, Application, End-user, and Country/Sub-Region)

U.K.

Germany

France

Italy

Spain

Scandinavia

Rest of Europe

Asia Pacific (By Drug Type, Offering, Technology, Application, End-user, and Country/Sub-Region)

Japan

China

India

Australia

Southeast Asia

Rest of Asia Pacific

Latin America (By Drug Type, Offering, Technology, Application, End-user, and Country/Sub-Region)

Brazil

Mexico

Rest of Latin America

Middle East & Africa (By Drug Type, Offering, Technology, Application, End-user, and Country/Sub-Region)

GCC

South Africa

Rest of the Middle East & Africa


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