Global Artificial Intelligence in Drug Discovery Supply, Demand and Key Producers, 2023-2029

Global Artificial Intelligence in Drug Discovery Supply, Demand and Key Producers, 2023-2029

The global Artificial Intelligence in Drug Discovery market size is expected to reach $ 8529.3 million by 2029, rising at a market growth of 29.4% CAGR during the forecast period (2023-2029).

The key manufacturers of Artificial Intelligence in Drug Discovery include IBM, Google (Alphabet), Atomwise, Schrodinger, Microsoft, etc. The top five players have a combined market share of about 19%.

North America is the world's largest market, accounting for about 46%. It is followed by Europe and Asia, each with about 25%. The Asian market is slowly expanding.

The application of Artificial Intelligence in Drug Discovery mainly includes hardware, software and service. Hardware is by far the most widely used, with a market share of about 53%. The market share of software types is expected to increase further.

Early drug discovery, preclinical phase, clinical phase, and regulatory approval are the main application stages. The current preclinical market share is about 38%, and it is expected to be more widely used in the preclinical stage in the future.

Artificial intelligence in medicine is the use of machine learning models to search medical data and uncover insights to help improve health outcomes and patient experiences. Thanks to recent advances in computer science and informatics, artificial intelligence (AI) is quickly becoming an integral part of modern healthcare. AI algorithms and other applications powered by AI are being used to support medical professionals in clinical settings and in ongoing research. Currently, the most common roles for AI in medical settings are clinical decision support and imaging analysis. Clinical decision support tools help providers make decisions about treatments, medications, mental health and other patient needs by providing them with quick access to information or research that's relevant to their patient.

Drug discovery is often one of the longest and most costly parts of drug development. AI could help reduce the costs of developing new medicines in primarily two ways: creating better drug designs and finding promising new drug combinations. With AI, many of the big data challenges facing the life sciences industry could be overcome.

This report studies the global Artificial Intelligence in Drug Discovery demand, key companies, and key regions.

This report is a detailed and comprehensive analysis of the world market for Artificial Intelligence in Drug Discovery, and provides market size (US$ million) and Year-over-Year (YoY) growth, considering 2022 as the base year. This report explores demand trends and competition, as well as details the characteristics of Artificial Intelligence in Drug Discovery that contribute to its increasing demand across many markets.

Highlights and key features of the study

Global Artificial Intelligence in Drug Discovery total market, 2018-2029, (USD Million)

Global Artificial Intelligence in Drug Discovery total market by region & country, CAGR, 2018-2029, (USD Million)

U.S. VS China: Artificial Intelligence in Drug Discovery total market, key domestic companies and share, (USD Million)

Global Artificial Intelligence in Drug Discovery revenue by player and market share 2018-2023, (USD Million)

Global Artificial Intelligence in Drug Discovery total market by Type, CAGR, 2018-2029, (USD Million)

Global Artificial Intelligence in Drug Discovery total market by Application, CAGR, 2018-2029, (USD Million)

This reports profiles major players in the global Artificial Intelligence in Drug Discovery market based on the following parameters – company overview, revenue, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include IBM, Exscientia, Google(Alphabet), Microsoft, Atomwise, Schrodinger, Aitia, Insilico Medicine and NVIDIA, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Artificial Intelligence in Drug Discovery market

Detailed Segmentation:

Each section contains quantitative market data including market by value (US$ Millions), by player, by regions, by Type, and by Application. Data is given for the years 2018-2029 by year with 2022 as the base year, 2023 as the estimate year, and 2024-2029 as the forecast year.

Global Artificial Intelligence in Drug Discovery Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World

Global Artificial Intelligence in Drug Discovery Market, Segmentation by Type
Hardware
Software
Service

Global Artificial Intelligence in Drug Discovery Market, Segmentation by Application
Early Drug Discovery
Preclinical Phase
Clinical Phase
Regulatory Approval

Companies Profiled:
IBM
Exscientia
Google(Alphabet)
Microsoft
Atomwise
Schrodinger
Aitia
Insilico Medicine
NVIDIA
XtalPi
BPGbio
Owkin
CytoReason
Deep Genomics
Cloud Pharmaceuticals
BenevolentAI
Cyclica
Verge Genomics
Valo Health
Envisagenics
Euretos
BioAge Labs
Iktos
BioSymetrics
Evaxion Biotech
Aria Pharmaceuticals, Inc

Key Questions Answered

1. How big is the global Artificial Intelligence in Drug Discovery market?

2. What is the demand of the global Artificial Intelligence in Drug Discovery market?

3. What is the year over year growth of the global Artificial Intelligence in Drug Discovery market?

4. What is the total value of the global Artificial Intelligence in Drug Discovery market?

5. Who are the major players in the global Artificial Intelligence in Drug Discovery market?

6. What are the growth factors driving the market demand?