Global AI in Drug Discovery Market 2024

Global AI in Drug Discovery Market 2024

AI is transforming drug discovery and development by revolutionizing target identification, compound design, virtual screening, safety assessment, and clinical trial optimization. By harnessing the power of AI-driven algorithms and predictive analytics, pharmaceutical companies can expedite the discovery of innovative therapeutics, improve patient outcomes, and address unmet medical needs more effectively.

The global AI in drug discovery market was valued at USD 991.2 million in 2023 to USD 7,069.3 million by 2030, progressing at a CAGR of 32.4% from 2024 to 2030, according to the latest market study results.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the application, therapeutic space, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global AI in drug discovery market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for AI in drug discovery can be segmented by application: drug design, optimization and repurposing, preclinical and clinical testing, target identification, others. The drug design, optimization and repurposing segment is estimated to account for the largest share of the global AI in drug discovery market, accounting for more than 54.1% of the total market.

AI in drug discovery market is further segmented by therapeutic space: cardiovascular diseases (CVD), infectious disease, metabolic diseases, neurological disorders, oncology, respiratory diseases, others. The oncology segment held the largest revenue share in 2023, accounting for more than 26.7% of the total market.

Based on end user, the AI in drug discovery market is segmented into: academia and research institutes, contract research organizations (CROs), pharmaceutical and biotechnology companies. Globally, the pharmaceutical and biotechnology companies segment made up the largest share of the AI in drug discovery market.

On the basis of region, the AI in drug discovery market also can be divided into: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America. North America was the highest contributor to the global AI in drug discovery market. Going forward, Asia-Pacific is projected to witness the highest CAGR during the forecast period.

The report has also analyzed the competitive landscape of the global AI in drug discovery market with some of the key players being AbCellera Biologics Inc., Accutar Biotechnology Inc., Aqemia SAS, Ardigen S.A., Atomwise Inc., BenevolentAI Limited, Berg LLC, Berkeley Lights, Inc., BioAge Labs, Inc., BIOS Health Ltd., BioSymetrics Inc, Biovista Inc., C4X Discovery Holdings plc, Causaly Ltd, Cloud Pharmaceuticals, Inc., Cyclica Inc., CytoReason Ltd., Deep Genomics Incorporated, DeepThink Health, Inc., Envisagenics, Inc., e-therapeutics plc, Euretos Services BV, Exscientia plc, GNS Healthcare Inc., Google LLC (DeepMind), IBM Corporation, Insilico Medicine Inc, Insitro Inc., Lantern Pharma Inc., MindRank Ltd., NuMedii, Inc., Nuritas, Ltd., Owkin, Inc, Recursion Pharmaceuticals, Inc., Schrodinger, Inc., Symphony Innovation LLC, TARA Biosystems, Inc. (Valo Health, LLC), twoXAR, Inc. dba Aria Pharmaceuticals, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global AI in Drug Discovery Industry Analysis:

i.) Application

• Drug design, optimization and repurposing
• Preclinical and clinical testing
• Target identification
• Others

ii.) Therapeutic space

• Cardiovascular diseases (CVD)
• Infectious disease
• Metabolic diseases
• Neurological disorders
• Oncology
• Respiratory diseases
• Others

iii.) End user

• Academia and research institutes
• Contract research organizations (CROs)
• Pharmaceutical and biotechnology companies

iv.) Region

• Asia-Pacific
• Europe
• North America
• Middle East and Africa (MEA)
• South America